1833. Sec. 27. That no stockholder shall pay any debt he may owe the bank by a surrender of his stock to the bank, until all the corporate debts are paid, and Stock not to be stockholders shall be compelled to pay their debts to said bank as other individuals. Sec. 28. That it shall not be lawful for said bank to issue any note, bill, or to loan money, after it shall have failed to redeem its bills or notes in specie: and if the said institution shall presume to do so, the bond, note, or other instrument, or promise made to the said bank in consideration of such promise, shall be utterly void. Sec. 29. That after the bank shall commence discounting notes, that all sum or sums of money paid into said bank, by stockholders, shall not go as part of their stock subscriptions, until all debts due by them to said bank shall be first paid off and discharged. [Approved February 2, 1833.] CHAP. 203.-AN ACT to authorise an additional subscription on behalf of the Commonwealth, in the capital or joint stock of "the Maysville, Washington, Paris and Lexington Turnpike Road Company," and to amend the several acts incorporating said company. received in payment of debts, till all the debts due by the bank are paid. Aftera failure to redeem its notes and bills in specie, not to issue any more. After discounts are commenced all sums paid in by stockholders shall not go as their stock subscriptions until their debts are paid off. Sec. 1. Be it enacted by the General Assembly of the Capital stock Commonwealth of Kentucky, That the capital stock of increased. the Maysville, Washington, Paris and Lexington Turnpike Road Company may be four hundred thousand dollars. on behalf of the state: Sec. 2. Be it further enacted, That the Governor of Governor to Kentucky be, and he is hereby, authorised and direct- subscribe stock ed to subscribe for and on behalf of the Commonwealth of Kentucky, the additional number of five hundred shares in the said capital stock of the Maysville, Washington, Paris and Lexington Turnpike Road Company: Provided, That the President and Upon additionDirectors of said company shall subscribe, or procure al stock being subscribed by to be subscribed for, on account of the individual and individuals. corporate stockholders, not including or embracing the commonwealth, in the capital stock of said company, seven hundred shares in addition to the stock now subscribed in said company; and the certificate of said President, presented to the Governor, that said seven hundred additional shares have been subscribed in said company, shall be evidence of that fact, and sufficient authority for the Governor to subscribe the S* 1833. Subscriptions how paid. aforesaid five hundred shares in said company for, and on behalf of, the commonwealth. Sec. 3. Be it further enacted, That when all, or any of the amount whatever, of the aforesaid seven hundred shares, shall be paid into the treasury of said company, the Commonwealth of Kentucky shall also pay to the President or Treasurer of said company, a sum in the proportion of fifty dollars for every seventy dollars of the sum paid as aforesaid on the said seven hundred shares: and the certificate of the President of said company, presented to the Treasurer of the Commonwealth of Kentucky, of the amount of said seven hundred shares paid into the treasury of the said company as aforesaid, shall be evidence of such payment, Sec. 4. Be it further enacted, That said President. Company may and Directors of the Maysville, Washington, Paris and Borrow money. Lexington Turnpike Road Company, shall have power, and shall and may be lawful for said President and Directors, to borrow the sum of seventy thousand dollars, or any part thereof, at an interest not exceeding six per centum per annum, to be applied to the completion of said turnpike road, or to the payment of said seven hundred shares required by this act to be subscribed on the part of said President and DirectAnd pledge the ors. And in order to enable said President and Distock for payrectors to borrow said sum of money, they are hereby authorised and empowered to pledge or mortgage the stock in the said turnpike road now subscribed, and hereafter to be subscribed, in said company, for the re-payment of said money and the accruing interest thereon: Provided, however, That if the sale of the stock in said read, or any part thereof, should be sold under any pledge or mortgage made by said President and Directors in virtue of this act, the stock of the individual or private stockholders in said road shall be first sold, for the re-payment of said money borrowed as aforesaid under this act. ment. Proviso. at each gate. Sec. 5. Be it further enacted, That when the said May hold land turnpike road, or any five miles thereof, shall be completed, so that a gate is necessary, the said President and Directors may contract for, receive, purchase, and hold to them and their successors, for them and said company, any quantity of land not exceeding one-half acre at the site of any toll-gate erected on said road: and if they cannot agree for such quantity of land with the owner thereof, for the purpose aforesaid, they may sue out from the county court of the county. 1833. in which such land may lay, a writ of ad quod dam- [Approved February 2, 1833.] CHAP. 204.-AN ACT to amend and continue in force an act to In corporate the City of Louisville. Sec. 1. Be it enacted by the General Assembly of the Former laws Commonwealth of Kentucky, That the first, third, fifth, revived and sixth, seventh, eighth, ninth, tenth, eleventh, twelfth, continued. thirteenth, fourteenth, sixteenth, seventeenth, eighteenth, nineteenth, twentieth, twenty-first, twenty-second, twenty-third and twenty-fifth sections of the act, approved the 13th day of February, 1828, entitled, an act to incorporate the City of Louisville, and the first, second, third and fifth sections of an act, entitled, an act to amend an act to incorporate the City of Louisville, approved December 23d, 1831, shall be, and the same are hereby, revived and continued in force, with the limitations and restrictions, and with the powers hereinafter enacted; and that the present Mayor and Mayor and Council of the City of Louisville shall Council to conhold their respective offices until the second Monday tinue in office. in March next, and until their successors shall be elect ed and qualified. Sec. 2. Be it further enacted, That the boundary of Boundary of the City of Louisville shall be hereafter limited by the city. commencing in the centre of the stone bridge across Beargrass, on the Louisville and Shelbyville turnpike, and running thence on a straight line to Geiger's ferry landing, on the Ohio river, opposite Jeffersonville, and thence down the Ohio river, so as to include Corn Island and the stone quarry around the same, to the 1833. Mayor and be elected. tions. The voters in wards. upper line of Shippingport, and thence with that lineto its Southern termination, and thence on a straight line to the intersection of the Salt river road with the Louisville and Portland turnpike, below the brick. house on the South side of said road, built by Robert Todd, R. S., and thence with the Salt river road to a point on said road which will be intersected by the Southern line of Louisville, when extended to said road, and thence with that extended line, continued Eastwardly, to Beargrass creek, and thence down the middle of Beargrass creek to the centre of the stone bridge aforesaid. Sec. 3. Be it further enacted, That the fiscal, prudential and municipal concerns of the City of Louisville, with the government and control thereof, shall be vested in one principal officer, to be styled the Mayor, and in one council, to be styled the Board of Their qualifica- Councilmen, who shall be elected on the first Monday in March next, and on the same day in each succeeding year, by the free white male resident inhabitants of said City, who shall have resided therein for the space of one year next preceding the election at which they claim to vote, and who are citizens of the United States, and have attained the age of twenty-one years, and who actually reside in the ward where they claim to vote. The elections shall be held in the several wards at such place as the Mayor and Council shall, from time to time, designate; and the persons entitled to vote in each ward shall elect two councilmen to represent the ward, and shall vote for some competent and qualified person as Mayor, and the Mayor and Council shall hold their respective offices for one year and until their successors shall be elected and qualified. If two persons or more shall be voted for as Mayor, the two having the highest number of votes shall be returned by the Mayor and Council, for the time being, with the number of votes given to each, to the Governor of this Commonwealth, one of whom, with the advice of the Senate, he shall commission as Mayor of the City of Louisville, until his successor shall be elected, commissioned and qualified, if he shall so long be of good behaviour; and if the Senate be not in session, his commission shall expire at the end of the next session of the Legislature, if he be not nominated and commissioned by the Senate: but if bat one person shall be voted for, as Mayor, by the citizens of Louisville, then Mayor to be commissioned by the Governor 1833. city officers. Vacancies in the office of Mayorort oun the Mayor and Council shall certify that fact to the Governor, with the name of the person so voted for as Mayor, and shall recommend to the Governor some other competent and qualified person to act as Mayor, one of whom the Governor shall, in like manner, commission as Mayor of the City of Louisville: but If the Governor if the Governor shall refuse to nominate or commis- refuses to nominate or the Sension one of the two persons, so recommended to him, ate to advise the or the Senate shall refuse to confirm the same, the appoitment of fact shall be certified by the Secretary of State to the Mayor, fact Mayor and Council of the City of Louisville, who be certified to shall return the Governor two other competent and qualified persons, one of whom he shall, in like manner, commission as Mayor of the City of Louisville; and if the Mayor should die, resign or remove from the City, whereby the office should become vacant, the council, for the time being, shall certify the fact to the Governor, with the names of two competent and qualified persons, to fill the vacancy, one of whom he shall, in like manner, commission as Mayor of the City of Louisville, until the election and qualification of a successor. If a vacancy shall arise in the council, from the death, resignation or removal of any member from the ward from which he was elected, cil, how filled. the Mayor and residue of the council shall supply the vacancy by the choice of a competent and qualified person, until the election and qualification of a successor, at the next annual election. The Mayor and Inspectors of Council shall, before each annual election, appoint three competent inspectors in each ward, whose duty it shall be to hold the ward elections, and see that no person shall exercise the right of suffrage who is not entitled; and they shall take an oath to discharge the duty, to the best of their skill and abilities; and shall make a fair record of the votes given to each person as Mayor, and each person as councilmen, and shall certify and return the same, under their hands, to the Mayor and Council, for the time being, and the clerk shall give notice to the two persons in each ward who shall have the highest number of votes, that they are elected councilmen for the ensuing year. And the Validity of Mayor and Council shall have full power and authori- elections-how ty to hear and determine the validity of all elections decided, authorised by this charter, under such rules and regulations as they may prescribe, and may, in their discretion, declare an election void, and order a new election, or they may doclare that the next candidate who elections. |