oF TIIK
GENERAL ASSEMBLY
oF THE
Commonwealth
of
Kentucky,
l'AssED AT THE
REGULAR SESSION OF THE GENERAL ASSEMBLY, WHICH WAS
BEGUN AND HELD IN THE CITY OP FRANKFORT, ON
THURSDAY, THE THIRTY-FIRST DAY OF DECEM
BER, EIGHTEEN HUNDRED AND EIGHTYFIVE.
"VOIiTTIMIIE
X.
PROPERTY OF THE STATE OF KENTUCKY.
FRANKFORT, KY.:
Capital Office, John D. Woods, Public Printer and Binder.
1886.
ill I' I OC1 * Ml* HIW Mivj » —J
„
duct the business of the bank, and pay them such
sums for their services, and take from them bonds
in such penalties to secure the faithful performance
of their duties, as they may think reasonable and
proper ; and upon any bonds thus taken recovery
may be had for breaches of the conditions thereof.
§ 7. The stock of said bank shall be deemed per
sonal property, and shall only be assignable in accord
ance with such rules as the board of directors shall
from time to time prescribe.
§ 8. This act shall take effect from its passage, and
remain in force for twenty-one years from the first
organization of said institution : Provided, It is or
ganized within three years from its passage.
§ 9. The General Assembly shall have the right to
examine into the affairs of said corporation by any
committee or officer they may appoint for that pur
pose.
Approved March 10. 1886,
CHAPTER 218.
AN ACT for the benefit of the Frankfort Water Company, of Frank
fort, Kentucky.
Whereas, On the twenty-ninth day of December,
in the year 1883, the Frankfort Water Company, of
Frankfort, Kentucky, was created and organized as a
corporation, under the provisions of the fifty-sixth
chapter of the General Statutes of Kentucky, for the
business of constructing and operating water- works in
and near the city of Frankfort, for supplying the said
city and its inhabitants with water for public and
private purposes ; the existence of the said corpora
tion beginning with the said twenty-ninth day of
December, 1883, and terminating twenty-five years
thereafter ; and whereas, the said water company has
LAWS OF KENTUCKY.
649
since entered into a contract with the board of councilmen of the city of Frankfort, under the provisions
of the ordinance of the said board hereinafter men
tioned, passed and approved July 28, 1884. which said
contract vests in the said water company the franchise
and license of operating the said water-works in per
petuity, and which said contract imposes the duty
upon the said water company of constantly operating
the said water -works during the term of the said fran
chise and license ; now, for remedy therefor,
Be it enacted by the General Assembly of the Com
monwealth of Kentucky :
'§ I. That the said, the Frankfort Water Company, incorporation,
of Frankfort, Kentucky, be, and the same is hereby,
confirmed as a body-politic and corporate, and by that
name and style shall have perpetual succession, and
be capable to sue and be sued, contract and be con
tracted with, the same as natural persons, and to
have, possess, enjoy and retain such lands, tenements,
hereditaments, goods and effects, as may be necessary
and convenient for the construction and operation of
water-works in and near the present and future limits
of the city of Frankfort, and for the supply of the
said city and its inhabitants with water ; and to mort
gage its water- works, together with its lands, ma
chinery, pipes, outfit, properties, rights, liberties,
privileges and franchises, and all the income and
profits now held or hereafter to be acquired by it, and
to ordain and put in execution all such by-laws, rules
and regulations as shall seem proper to it for its gov
ernment, and for carrying out the objects of its exist
ence : Provided, They be not contrary to the Consti
tution and laws of this State or of the United States ;
and to have and use a common seal, and change, alter
and renew the same at pleasure.
§ 2. That the capital stock of the said company Capital stuck,
shall be one hundred and fifty thousand dollars, di
vided into fifteen hundred shares of one hundred dol-
650
LAWS OF KENTUCKY.
lars each, but may be increased by the said company,
as it may deem best for the purposes of its existence,
to a sum not exceeding two hundred and fifty thou
sand dollars.
§ 3. That the affairs of the said company shall be
offlcors, how conducted bv a board of directors of five stockholders,
elected.
~
1
who shall be elected on the last Saturday in the
month of December of each and every year, during the
existence of the said company, for the term of one year,
and until their successors are elected ; which board
shall have power to appoint all such officers and
agents and upon such terms and with such powers as
in its opinion will best conduce to the welfare of the
said company. The present board of directors shall
hold over until the last Saturday in December of the
year 1886.
§ 4. That the highest amount of indebtedness or
linn.
liability, direct and contingent, to which the said com
pany is at any time to be subject, shall in no case ex
ceed the amount of its capital stock.
§ 5. That an ordinance of the board of councilmen
City ordinance, of the city of Frankfort, entitled : An ordinance pro
viding for the supplying of the city of Frankfort and
its inhabitants with water for public and private
purposes, granting the Frankfort Water Company, of
Frankfort, Kentucky, the franchise and license of
constructing and operating water-works, selling to the
said company the mains and its appurtenances owned
by the board of councilmen of the city of Frankfort,
contracting with the said company for fire hydrants,
and giving the said city an option to purchase the said
works, passed July 28, 1884, and all the provisions
and amendments thereof, and the contracts there
under, entered into, by and between the said board of
councilmen and the said water company, and the issue
of one hundred and tw'enty-five thousand dollars of
first mortgage bonds of the said water company, and
their indorsement by the said board of councilmen of
the city of Frankfort, be, and the same are hereby,
LAWS OF KENTUCKY.
651
ratified and confirmed for all purposes according to
their tenor.
§ 6. This act shall take effect at its passage.
Approved March 11, 1886.
CHAPTER 219.
AN ACT to amend the charter of the city of Covington.
Be it enacted by the General Assembly of the Commonwealth of Kentucky :
% 1. The city council of Covington shall have power contract for
and authority, for and on behalf of the city of Cov
ington, to receive proposals from and enter into a con
tract with any municipal or private corporation, firm
or individual authorized thereto, for the supply of
water to the city of Covington and the inhabitants
thereof, for such length of time and upon such terms
and conditions as may be agreed upon between the
city council of Covington and the proper authorities
of any such municipal corporation or such private
corporation, firm or individual proposing to so con
tract : Provided, however, That said power shall not
be exercised until the question of the exercise thereof
shall have been first submitted to the qualified voters
of Covington at an election held for that purpose.
If propositions be submitted to the council by more
than one municipal or private corporation, firm or
individual, they shall be submitted to a vote of
the people separately, at elections to be held at
different times ; but should any proposition receive,
at any election to which it is submitted, a ma
jority of all votes cast at said election, then no
other proposition shall be submitted, and the power
of council to further submit such propositions shall
be exhausted. At all such elections the question,
"Are you in favor of or against the proposed con-