The home journal. (Winchester, Tenn.) 1858-188?, 1860-04-19

AN ACT

oher purposes /
SEC. ]. Belt enacted by the General
Assembly Of the State Of Tennessee,
that J.. B. Hawkins, Madison Porter, D.
NJ, Russey, Robert Hines, Lent Will
liams, William Darwin, Green Brazel-
ton, Joseph Carter, and A. S, Colyar,
be, and are hereby constituted u body,
polite and corporate, with power and
authority to open books and receive
subscriptions to the capital stock Of a
company for the purpose of building u
Turnpike road from the lands Of the
University ofthe South, on the top Of
the Cumberland Mountain, to some
point on the Nashville and Chattanoo-
ga Railroad, in Franklin County,
SEC, 2, BE it enacted by the authofi-
ty aforesaid, that the persons above
named may proceed to raise stock by
subscription for the purpose of building
said road and that any county in the
State ofTennessce, through the County
Court, a majority Of all the Justices Of
the county, being present and votingin
the affirmative, mag subscribe and take
stock in said road--the Chairman being
authorized by such voting to subscribe
the amount Of stock 50 ordered by said
county,
SEC. B. BE it further enacted, That
the stock which may be subscribed, eli
thcr by counties or individuals, shall
be divided into shares of S25 each and
that when the sum Of fifteen thousand
dollars is subscribed, the persons aiorc-
said may, by virtue, call amccting Of
the stockholders, (the Chairman Of the
County Court to represent the stock of
the County,) and at such meeting the
stockholders may proceed to work, or
may delay the work till the stock is in
creased to a sum not exceeding forty
thousand dollars.
SEC. 4. BE it further enacted, That
the said Board Of Directors shall consist
of seven men, each Of whom shall own
not less than four shares ofstock in said
company, and they shall have power,
after first election, to all vacancies.
SEC. 3. Be it further enacted, That
the said Board of Directors may deter
mine the exact location Of said road,
which shall be opened and graded not
less than twcnty-onc feet, and gravel
and broken rock on eighteen feet there
Of, 50 rs to make u firm, solid, smooth
road.
SEC. 6. Be it further enacted, That
in case Of any vacancy in the Director
ship, so as to reduce the Directors to
less than Il majority, then the Stock
holders may eject Directors, and the
corporation aforesaid shall have success
sors, with power to sue and be sued, to
plead and be pleaded, and may purchase
and hold lands for the benefit Of the
University Of the South.
SEC. 7. Be it further enacted, That
in case the county through which said
road passes, or any other County in the
State should take stock, such county
may subscribe stock to be paid in one,
two, or three years, one third Of the
whole amount subscribed to be paid
each year and the Tax Collector, when
elected, or the Sheriff, in case Of failure
to elect Il Tax Collector, shall enter
bond with security, to be approved by
the County Court, for the collection of
the stock aforesaid, and the said Rcvcn-
ne Collector shall proceed to collect the
same, at the same time and in the same
manner that he collects the State and
County tax and he shall be liable for
default in the same way and same cX-
tent that he is for Il default in collecting
and paying our State and County Rev
cnuc. The said County Court at the
time Of voting aforesaid shall fix by its
order the amount to be raised each
year, and what property, and to what
extent, shall be taxed to raise the sum
so subscribed.
SEC. 8. Be it further enacted, That
the Stockholders shall hold an election
on the first Monday in May every two
years, for the purposeofelccting Direc-
tors, to be held at such place rs may be
fixed by the Directors rs the place OF
holding elections.
SEC. Q. BE it further enacted, That
said road shall be commenced within
two years, and shall be completed with.
in six years, or in case of failure, tho
charter shall be forfeited thereby.
SEC. 10. BE it further enacted, That
when five miles of said road shall be
completed, the Directors shall hav,
power and authority to erect a gate
and collect toll not exceeding the rate:
E paid by the McMinnvillc and Spart;
Turnpike Company.
SIC. II. Be it further enacted, Thar
any stock subscribed as herein abov,
provided for, may be paid in work al
the discretion of the Directors.
SEC. II. BE it further enacted, That
any corporation of the State ofTennes.
500 tbrouoh IFS Directors. or if IL be m