A Bill for an act to incorporate the Carmi Bridge Company

Sec.[Section] 1 Be it enacted by the People of the State of Illinois represented in the General Assembly That Josiah M^cKnight, ^George R Logan^ Charles J. Wilman, ^Isaac Blackford^ Samuel D Ready, Thomas Kerney and John Phipps with their associates be and they are hereby created a body politic and corporate by the name and style of the Carmi Bridge Company for the purpose of erecting and constructing at Carmi a bridge across the Little Wabash river, and they and their associates and successors shall continue and have perpetual succession, and by that name and style are hereby made as capable in law as natural persons, to contract and be contracted with, to sue and be sued, to plead and be impleaded in this state in all courts of law or equity; to make have and use a common seal and the same to break[,] alter[,] or amend at pleasure. And they and their successors shall have the power to purchase and hold as much real estate as will be necessary for the site of said Bridge, abutments[,] toll houses, and suitable avenues leading to the same; Also to borrow any money not exceding the capital stock mentioned in this act, but not to have the privilege of loaning money or issuing bills or notes upon Banking principles: Also the power to ordain and establish such by-laws[,] ordinances[,] and regulations as shall be necessary for the well being and government of said corporation not incompatible with the laws of this state or of the United States.

Sec. 2 The capital stock of said company shall consist of not more than Five Thousand Dollars, to be divided into shares of Ten

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Dollars each to be subscribed for or sold in the manner hereinafter mentioned. ^Provided, ^if^ the amount above stated is insufficient, to complete the bridge, it may be increased ^ ^to a sufficient sum to accomplish that purpose^

Sec. 3 Within six months after the passage of this act the persons before named or a majority ^any three^ of them shall cause books for the subscription of stock of said Company to be opened at such places and times as they may direct, which books shall be kept open under the directions of such persons or a majority of for such length of time as they may order

Sec 4 When one hundred and fifty shares shall have been subscribed, the said persons or a majority of them shall advertize a meeting of the stockholders at Carmi, giving at least ten days notice of the time and place of said meeting, and the stockholders shall thereupon proceed to the election of a President and six Directors, who shall be shareholders, and such of the before mentioned persons who shall not be shareholders shall cease to be members of said Corporation, and the said shareholders shall also proceed to ordain and adopt such by-laws for the permanent organization and government of said Corporation as they may deem needful, at which meeting each share holder shall be entitled to one vote for each share to the number of fifty and one vote for every three shares above fifty; and at all the subsequent elections or general meetings of the stockholders the shares in said company may be voted for by proxies duly recorded

Sec. 5 The President and Directors chosen in conformity to the provisions of the foregoing section, shall hold their office for one year next succeeding such election, and until others are chosen in

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. . .is hereby authorized and empowered to subscribe for and on behalf of the county such number of shares as it in its discretion may deem proper and shall in case of actual subscription pay the same out of any money in the County Treasury not otherwise appropriated, and be entitled to all the rights and privileges of other stock holders: authorizing and directing by order entered of record the clerk of said court by order entered of record to act for them and on their behalf

Sec. 16 The said President and Directors shall keep an exact account of their expenditures in creating said Bridge, and the County Commissioners Court shall have power to purchase said bridge at any time by paying the full amount of the cost of the same, and in case the Bridge shall be purchased by said Court, the corporation hereby created shall within one year thereafter be dissolved, and said Bridge forever after be and remain a free Bridge.

Sec. 17 At all meetings of a quorum of the board of Directors a majority thereof shall have full authority to exercise all or any of the powers conferred by this act upon the board of Directors. This act to be in force from and after its passage

Sec 18. Nothing in this act shall be construed so as to authorize said company to obstruct the ford across the Little Wabash River at Carmi. This act to be in force from and after its passage