Elections of Board. vertisement in the newspapers, give at least thirty Corporation of bay. SEC. 9. The election of president and directors shall be annual, and they shall fill any vacancy that may occur in their board; the said election to be held at the office of the company, at such time as the stockholders may appoint: To enable any person to act as a member of the board of directors or president, he must be the owner of ten shares of stock, and be a citizen of this State: For each and every share of stock he may hold, each stockholder shall be entitled to one vote, which may be given by proxy, in the election of the board of di rectors. Stock may be transferred on the books of the company, at any time previous to one month before the election. SEC. 10. That if, after the expiration of twenty years, from and after the first day of January, 1850, the Corporation of Nashville should at any time resolve to purchase said Gas Works from the said Gas-Light Company, which they hereby shall have a right to do, the price shall be fixed by arbitrators, one or more to Nashville may be chosen by the President and Directors of the Company, and an equal number by the Board of Mayor and Aldermen of the city. Said arbitrators shall not be stockholders in said Company, nor members of said Municipal board. They shall take into consideration the value of said gas works, and the lands, buildings, utensils, rights and interests, and everything thereunto appertaining; and if they agree, and so report in writing, their award shall be binding on the parties; but if they should not agree, then the said arbitrators shall select some creditable and disinterested person as umpire between them, whose decision and award, in writing, reported to the parties above, shall be binding and conclusive, any law to the contrary notwithstanding. Offences a misdemeanor. Stock-when and how paid. SEC. 11. If any person or persons shall commit any of the offences enumerated in the 7th section, he, she, or they, shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be punished as in other cases of misdemeanor. SEC. 12. The Stock of said Company shall all be paid in, within three years from the organization thereof, in such proportions or instalments, and at such times L and places, as may be required by the directory; and any stockholder failing to pay such instalment, shall, at the discretion of the directory, forfeit to the Company all right, title and interest in, and to, every share on account of which such default may have been made; or the directory, at their option, may cause suit to be instituted against such defaulting stockholder, for the amount due on such forfeited share. And in the event of a forfeiture, the shareholder so forfeiting, shall still be held individually and personally liable to the creditors of such Company, who were creditors at the time of the forfeiture, to the full amount unpaid of each share of stock so forfeited, and the directors may dispose of the forfeited shares at their discretion. The Company shall not, at any time, by releasing stockholders, from the payment of their shares, or any part thereof, nor by any other means, discharge such stockholder from his liability to the creditors of said Company, to the extent of any balance due, or to become due, on account of unpaid stocks. LANDON C. HAYNES, Speaker of the House of Representatives. JOHN F. HENRY, Passed, Nov. 21, 1849. Speaker of the Senate. CHAPTER III. An Act to attach the 141st Regiment of Tennessee militia in the county of DeKalb to the 8th Brigade. SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That an act passed November 8th, 1843, chapter 10, attaching the 141st Regiment of Tennessee Militia, in the county of DeKalb, to the 9th Brigade, and an act passed 31st of January, 1846, chapter 205, be, and the same is hereby repealed. SEC. 2. Be it enacted, That the 141st Regiment of Tennessee Militia, in the county of DeKalb, be attached to the 8th Brigade. LANDON C. HAYNES, Speaker of the House of Representatives. JOHN F. HENRY, Passed October 24, 1849. Speaker of the Senate. CHAPTER IV. An Act to incorporate the Deluge Fire Company (No. 3,) in the City of Nashville. SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That the Deluge Fire Company, (No. 3,) in the City of Nashville, is hereby incorporated by the name aforesaid, with power to continue its organization, with power to establish a library, to acquire and hold a house and lot for the convenient transaction of its business; to sell and convey the same and reinvest the money as they may desire, and with power to have and use in their business a common seal. SEC. 2. Be it enacted, That the said company shall consist of not more than one hundred members, and that the members of said company shall be exempt from serving on juries, and from all military duty. LANDON C. HAYNES, Speaker of the House of Representatives. JOHN F. HENRY, Speaker of the Senate. Passed, November 5, 1849. CHAPTER V. An Act to amend the act of 1848, ch. 121, entitled "an act to pay the expenses of a guard for the apprehension of fugitives from justice, and other purposes. Be it enacted by the General Assembly of the State of Tennessee, That said act shall be construed to authorize the Governor to allow to any agent appointed by him under said act, a reasonable compensation for the services of said agent and the guards necessarily employed by said agent, in addition to all necessary expenses accruing in the performance of such service; and that this act shall apply to all cases arising, or which may have arisen under the said act of 1848, in which said agent or guards have been so employed. LANDON C. HAYNES, Speaker of the House of Representatives. JOHN F. HENRY, Passed November 8, 1849. Speaker of the Senate. CHAPTER VI. An act to amend and continue in force the charter of the City Hotel Company in the City of Nashville. SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That the act chartering the City Hotel Company in the City of Nashville, dated the 12th December, 1831, be, and the same is hereby continued in force for the additional term of twenty years from and after the 12th day of December, 1851. SEC. 2. That the stockholders in said company be, and they are hereby authorized, to sell and convey the City Hotel property, in part or in whole, by their directors, or by a committee to be appointed by them; Provided, The stockholders shall so direct by a majority of all the votes to which they may be entitled, and that they, the said stockholders, shall have power to fix the terms, and time or times of payment for said property, whether sold in part or in whole, and also to fix the minimum price on the same. LANDON C. HAYNES, Speaker of the Senate. Passed, December 10, 1849. CHAPTER VII. An Act to incorporate into one act the several acts incorporating the City of Memphis and the town of South Memphis, passed January 6th, 1846. and January 21st, 1848; and to unite the said towns into one, and extend the boundaries thereof. SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That all that district of country contained within the following limits; to wit: Beginning at a point in the middle of the Mississippi river, due west of the point where the Bayou Gayoso strikes Wolf river; thence due east to that point on Wolf river; thence with the northern bank of the Bayou Gayoso to the point where Auction street, extended, crosses the same; thence with the Raleigh road to the avenue east of the town reserve; thence south with the east line of said avenue until the same strikes the east line of the South Memphis tract of land, Boundaries, Qualifications and power of Mayor. thence with the east line of said tract to its south-east corner; thence west with the south line of the South Memphis tract to the east line of the Butler tract; thence to its south east corner; thence west with the south line of said tract to the centre of the Mississippi river; thence with the meanders of said river to the beginning point, (excluding the Navy Yard), is hereby united into one city, by the name of the CITY OF MEM PHIS. SEC. 2. The inhabitants of said City of Memphis, as above laid out and extended, are hereby constituted one corporation and body politic, by the name and style of the Mayor and Aldermen of the City of Memphis; and by that name they shall have succession for 99 years;-may sue and be sued in all courts of law and equity; may purchase, receive and hold property, real and personal, within said city for Public Schools, for Market Houses, Public Squares, Streets, Alleys, Wharves, Prisons, Work-houses, Water-works, and Gas-works; and may sell, lease, rent and dispose of the same for the use and benefit of the city; may purchase, receive and hold property beyond the limits of the city for the burial of the dead, the erection of water-works, the establishment of magazines, poorhouses, work-houses, or houses of correction; and may sell, lease, rent and dispose of the same for the use and benefit of the city; and they may do all other acts touching the same, as natural persons; and may have a common seal. SEC. 3. The City Council first elected under this Charter, shall consist of a Board of twenty-four Aldermen, two of whom shall be elected from each ward of the City of Memphis, and two from each ward of South Memphis, as laid off under their present respective Charters; two from that district of country lying east and south of the present incorporated limits of South Memphis, and two from that district of country east of Bayou Gayoso and north of Union street, as embraced within this Charter. SEC. 4. The Mayor shall be elected by the qualified voters of the city, and shall hold his office until the election and qualification of his successor; no person shall be qualified as Mayor who is not at the time of his election a citizen of the United States and of the State of Tennessee; nor unless he shall have been a bona fide resident of the city for two years next preceding his election, and the owner in fee simple of unencumbered real estate within this city, of the cash value of one Thousand Dollars for twelve months next preceding |
