The Montgomery advertiser., 1901-08-31

lions issued as herein provided. in ex- cess of said per centunn, shall not be used for any purpose other than that for which said obligations were issued. Nothing contained in this Article snail prevent the funding or refunding or ex- isting indebtedess. This Sectto shall not apply to the cities of Sheffield and { Tuscumbia. zz6. No city, town or village, whose present indebtedness exceeds the limi- tation imposed by this Constitution. shall be allowed to become indebted in any further amount. except as ether wise provided In this Consultation, un- til such indebtedness shall he reduced within such limit; provided. however. that nothing herein contained shall pre- vent any municipality from issuing bonds already authorized by law; pro- isting indebtedness. This Section shall not apply to the cities of Sheffield and Tuscumbia.
 22T. Any person, firm or corpora ton who may construct or operate any public utility along or across the public streets of any city, town or village under any privileges or franchise per- nitting such construction or operation, shall be liable to abutting proprielors for the actual damages done to the shutting property on account of such construction, or operation. A
 22a. The Legislature shall pass no special act conferring corporate pow CTS. but shall pass general laws under which corporations may be organized and corporate powers obtained, subject, nevertheless. to repeal at the will of the Legislature; and shall pass general laws under which charters may be al- tered or amended. The Legislature ehalL by general law, provide for the payment to the State of Alabama, of frapchise tax by corporations organ ized under the laws of this State, which shall De in proportion to the amount of capital stock; but strictly benevo- lent, educational or religious corpora lions shall not be required to pay such 2 tax; The charter of any corporation shall hs subject to amendment, altera- lion or repeal under general laws.
 Szs All existing charters, under which a bona fide organization shall not have taken place and business com menced in good faith within twelve months from the time of the ratifica- ton of this, Constitution, shall there after have no validity.
 2Se. The Legislature shall not remit the forfeiture of the charter of any corporation now existing or alter or amend the same. or pass any general or special law for the beneft of such corporation. other than in execution of trust created by law or by contract, except upon condition that such corpo- ration shall thereafter hold its charter subject to the provisions of this Con- gtitution.
 2s1. No foreign corporation shall do any business in this State without hay- Ing at least one known place of busi- ness and an authorized agent or agents Secretary of State a certified CODY of Its articles of incorporation or associ- ation. Such corporation may be sued m any county where 1t does business ny service of process upon an agent anywhere in the State. The Legtsla- ture shall. by general law, provide for the payment to the State of Alabaroa at a franchise tax by such corporation but such franchise tax shall be based on the actual amount of capital em- pioyed in this State. Strictly bencyo- lent. educational or religious corpora- a tax.
 any business other than that expressly authorized in its charter or articles of Incorporation.
 2S2. No corporation shall issue stock or bonds except for money, labor done or property actually received and All fictitious increase of stock or indebted ness shaE be void. The stock and
 
 shall not be increased except in pursu- ance of general laws, nor without the consent of the persons holding the larg- CT amount in value of stock. first ob- tained at a meeting to be held after thirty days notice, given in pursua nee of law.
 2s4. Municipal and other corpora- tions and individuals invested with the privilege of taking property for lublic use. shall make just compensation. 10 he ascertained as may be provid ed t;v law. TOT the property taken. injured CT dfstroyed by the construction or en- iargement Of its works. highways Or improvements. which compensation shall be paid before such taking, injury or destruction. The legislature is here. oy prohibited from denying the right or appeal from any preliminary assess ment Of damages against any such cor porations or individuals made by view CTS or otherwise. but svch appeal shall not deprive those who have obtained the Judgment of condemnation from a right or entry. provided the amount of the damages assessed shall have been paid into court in money and a bond snail have been given in not less than double the amount of the damages as- sessed. with good and sufficient sure- lies. to pay such damages as the prop- erty owner may sustain; and the amount Of damages in all cases nf ap- peal snail. on demand of either party be determined by a jury according tc law. N
 225. Dues from private corporations shall be secured by such means as may De prescribed by law; but in no case shall anU stockholder be individually liable otherwise than for the unpaiG stock owned by him or her
 236. No corporation shall issue ore. ferred stock without the consent of tho owners of two-thirds of the stock ot said corporation.
 237. The legislature shall have the power to alter. amend or revoke any charter of incorporation now existins and revocable at the ratification of this Constitution, or any that may be here after created. whenever in it's opinion such charter may be injurious to the citizens of this State. in such manner however. that no injustice shall be don, to the stockholders
 23S. Any association or corpora tior organized for the purpose or any indi vidual. shall have the right to con struct andN maintain lines of teIesrap pF and telephone within this State anf connect the same with other lines; anf the legislature shall. by general law O. uniform operation. provide reasona bl; regulations to give full effect to thi, section. No telegraph or telephon, company shall consolida te Nvith. or holt a controlling interest in the stock o