Capital stock. Directors. By-laws. Proviso. Subscriptions. Proviso. road to be of such width as the said company, or the president and directors thereof, may deem most advisable. § 3. The capital stock of said company shall consist of one thousand shares, at fifty dollars per share, to be hereafter increased to such an amount as will be necessary to construct the said road. And the immediate government and direction of the affairs of said company shall be vested in a board of not less than five directors, who shall be chosen by the members of the corporation, in the manner hereinafter provided, and shall hold their offices until others are duly elected and qualified; and the said directors, a majority of whom shall form a quorum for the transaction of business, shall elect one of their number to be president of the board. The members of said company shall meet annually, or oftener, if deemed necessary, at Metropolis city, at such time as the said president may direct; at which meeting the said directors shall be chosen, by ballot, each proprietor being entitled to as many votes as he holds shares. And any two of the individuals first named in this act are hereby authorized to call the first meeting of said company, by giving notice thereof, of the time, place and purpose of such meeting, at least ten days before the time mentioned in said notice. Said notice may be given in a newspaper, if one shall be printed in the county where the meeting is to be held, if not then the same shall be posted up in four of the most public places in said county. § 4. The said company shall have power to make, ordain and establish all such by-laws, rules and regulations and ordinances as they may deem expedient and necessary to accomplish the designs and purposes of their said corporation, and for the transfer and assignment of its stock, and the conveyance of its property, and the well ordering, regulating and securing of the interest and affairs of the company: Provided, the same be not repugnant to the constitution and laws of this state and of the United States. § 5. Said board of directors are hereby authorized to receive subscriptions to the stock of said company, when and where, and after such notice, as they or a majority of them shall agree; and they are hereby authorized to levy assessments upon the capital stock subscribed, at such times and in such way and manner as may be necessary for the construction and completion of said road: Provided, that no more than fifty dollars shall be assessed upon any one share. The said directors shall give notice of all such assessments; and in case any subscriber shall neglect to pay his assessment within thirty days after due notice thereof, the share or shares of such delinquent subscriber may, by the order of said directors, be sold at public auction, after giving due notice thereof, to the highest bidder; and the same shall be transferred to the purchaser, and such delinquent subscriber shall be held accountable to the company for the balance of his share or shares shall sell for less than the assessments due thereon, with interest and costs of sale, and he shall be entitled to the overplus, if his share or shares shall sell for more than the assessments, with interest and costs of sale. § 6. Said company are authorized, as soon as the board Toll-gates. of directors are elected, to commence the construction of said plank road; and as soon as any three miles of said road shall be completed they may erect toll-gate's thereon and collect the toll allowed by this act. Said company shall Tolls. keep said road in repair, and shall have power to construct bridges and causeways over sloughs, ponds and streams Repairs. any where on the route of said road, when the same shall be necessary; and said company shall have power to borrow money, not exceeding fifty thousand dollars, to aid in constructing said road. § 7. Said company shall have power to fix and regu- Regulation of late the tolls to be charged and paid for passing on said tolls. road: Provided, said tolls shall not exceed the following Proviso. rates: for every vehicle drawn by one animal, three cents per mile; for every vehicle drawn by two animals, four cents per mile, and one half cent additional for each mile for every animal more than two; for every ten head of neat cattle, one and a half cents per mile; and for every ten head of sheep or swine, one and a half cents per mile; and for every horse and rider or led horse, one and a half cents per mile. And it shall be lawful for any toll gatherer to stop and detain any person going over said road, until the toll properly chargeable shall be paid; and any person who shall use said road and refuse to pay said toll shall forfeit and pay for such refusal the sum of five dollars, to be collected by said company, by action of debt, before any justice of the peace of the proper county. § 8. The said corporation shall be allowed two years from the passage of this act to commence the construction of said road, and shall complete the same within two years from the commencement thereof; and upon a failure to do so, this charter shall be forfeited. § 9. The said company is hereby authorized to locate Right of way. and construct said plank road over any lands owned by this state, or by individuals on the route of said road. Such company shall pay all damages that may arise or accrue to any person or persons by means of taking their lands, timber, rock, stone or gravel, for the use of said road; and when the same cannot be obtained by consent of the owner Damages. or owners upon reasonable terms, it shall be estimated and recovered in the manner provided by law for the recovery In force Februry 17, 1851. Corporation. Style. Location. Powers. Stock. Limitation. tees. AN ACT to incorporate the Naperville Academy. SECTION 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Hope Brown, Henry L. Peaslee, Salinus M. Skinner, John Collins, and Aylmer Keith, and their associates, be and they are hereby created a body politic and corporate, by the name and style of "Naperville Academy," and by that name and style to have perpetual succession. The said institution to be located in the town of Naperville, Du Page county, and state of Illinois. § 2. The corporation hereby created shall have power to contract, to sue and be sued, to plead and be impleaded, to grant and receive by their corporate name, to accept of donations, acquire by purchase, or to sell property, real, personal or mixed, in all lawful ways and means; to use, manage, employ and dispose of all such property or money belonging to said ccrporation as to them shall seem meet for the promotion of the objects and interests of said corporation; to have a common seal, to alter and change the same at pleasure; to make and establish all such by-laws and regulations for the management of said institution as may be necessary and proper, and not inconsistent with the constitution and laws of this state or of the United States; and to confer on such persons as may be worthy such academical or honorary degrees as are usually conferred by similar institutions in like cases. § 3. The stock of said company shall consist of shares of ten dollars each, to be subscribed for in the manner that the trustees shall direct, and which shall be deemed personal property, and shall be transferable on the books of said corporation in such manner as the board of trustees may prescribe. The capital stock shall not exceed the sum of twenty thousand dollars. § 4. On the second Monday of April, eighteen hundred Election of trus- and fifty-one, there shall be elected by the stockholders, or such of them as may be present, nine trustees, to manage the affairs of the corporation. Three of said trustees shall be elected for one year, three for two years, and three for three years; and on the second Monday of April in each. every year thereafter there shall be elected as afore and said three trustees to fill the vacancy of those whose terms shall expire. Notice of said elections shall be given for ten days, either by publishing the same in a newspaper published in the town where the academy is located or by posting up notices in three public places in said town. tees. § 5. The trustees of said corporation shall have authori- Power of trusty to prescribe and regulate the course of studies to be pursued in said academy; to fix the rate of tuition and other academical expenses; to appoint instructors and such other officers and agents as may be necessary in managing the concerns of the institution, to define their duties, to fix their compensation, to displace or remove them; to erect necessary buildings; to purchase books, chemical and philosophical apparatus and other suitable means of instruction; to make rules for the general regulation of the conduct of the students; to suspend or expel any students whose habits are idle or vicious, or whose moral character is bad, or who refuses to obey the rules of the academy. § 6. The board of trustees, at their first meeting after Officers. each election, shall choose one of their number as president, and another as secretary of the board, and some person as treasurer. Said board of trustees may meet for the transaction of business as often as the president shall direct, or on request of any three of said trustees, any five of whom shall constitute a quorum for the transaction of business. The treasurer of the institution shall always, and all other agents when required, before entering upon the duties of their appointments, give bonds for the security of the cor- Bonds. poration, upon such conditions and in such penal sum and with such securities as the board of trustees shall approve. The secretary shall keep a record of the proceedings of all meetings of the stockholders and directors, and cause the notices of the annual elections to be given as required in section four. not to exclude § 7. The said institution shall be open to all religious de- Religious faith nominations, and the profession of no particular religious teachers or pufaith shall be required, either of officers or pupils. pils. $8. There shall be attached to said academy a prima- Primary dery department, in which shall be taught all the branches partment. which are usually taught in common schools in this state; and said department may become and thereafter constitute the common school of the district in which said academy may be located, in manner as hereinafter provided. § 9. It shall be the duty of the school directors of the Tax. district in which said academy is situated to give at least ten days' previous notice, by posting up written notices in at Notice. least three of the most public places in said district, that on the third Saturday in April, Anno Domini eighteen hundred and fifty-one, there will be a meeting held at (naming the place within the district,) for the purpose of voting for or against a tax to be levied on the taxable property of the district, of any sum not exceeding five hundred dollars in each succeeding two years, to be applied towards erecting and furnishing the building to be erected by this corporation; at which meeting the said directors shall be judges, and shall appoint a clerk from among the legal voters present; and if a majority of the legal voters who may be present at such meeting shall vote in favor of such tax then said primary department shall be and constitute the common school of said. district, and the trustees of said academy shall thenceforth constitute the school directors of said district, and shall exercise all the powers and discharge all the duties which now are or which may hereafter be conferred by law upon school directors in this state; shall receive from the school commissioner of the county or the school treasurer of the township the same proportion of money, and apply the same to the support of said primary department in the same manner as other common schools are paid and kept: Provided, that the teachers or instructors of the said department shall be selected by the trustees, and be under the control Further proviso. of the by-laws of said corporation: And provided, further, that if at any time said district shall be divided, or said academy shall be set off into any other district, then said department shall constitute the common school of the district in which said academy shall be located for the time being. Proviso. Acts of trustees. Part of act suspended. § 10. The above named persons shall be deemed trustees until others are elected, and they are hereby 'empowered to appoint all necessary agents and officers whose offices shall expire with their own; and all bargains and contracts made by them and all subscriptions obtained to the stock of said corporation, together with all other acts done by them as such trustees, are hereby confirmed and made as binding on all the parties interested as if such bargain, contract, subscription and other acts had been made after the passage of this act. § 11. That so much of the act entitled "An act to establish and maintain common schools," in force April thirteenth, A. D. eighteen hundred and forty-nine, as conflicts with this act, so far as relates to the school district in which said academy is or may be located, is hereby suspended. And the legislature hereby reserves to itself the right Right to repeal. to alter, amend or repeal so much of this act as relates to said common school, whenever a majority of the legal voters of said district shall petition for such alteration, amendment or repeal. § 12. This act to be in force from and after its passage. |