ACTS AND RESOLUTIONS OF THE GENERAL ASSEMBLY OF THE STATE OF GEORGIA. 1888-9. VOLUME II.
Part II.--Corporations.
TITLE I. RAILROAD COMPANIES.
1888 Vol. 2 -- Page: 211
Sequential Number: 157
Short Title: INCORPORATING THE COLLINS PARK AND BELT RAILROAD COMPANY.
Law Number: No. 197.
Full Title: An Act to incorporate the Collins Park and Belt Railroad Company, and to define its rights, powers and privileges, and for other purposes.
SECTION I. Be it enacted by the General Assembly of the State of Georgia, That James D. Collins, H. L. Woodward, S. H. Venable, J. R. Collins, Charles E. Thompson, S. K. Ozburn, W. J. Collins and Thomas McClellan and their associates, successors and assigns be, and the same are, hereby incorporated and made a body politic and corporate under the name and style of the "Collins Park and Belt Railroad Company."
[Sidenote: Incorporators.]
[Sidenote: Corporate name.]
SEC. II. Be it further enacted, That before said company shall begin its work upon any of its lines of railroad in the city of Atlanta, it shall first obtain the assent of the corporate authorities of said city to the same; and before it shall begin its work on any of the public roads in the counties herein mentioned, it shall first obtain the assent of the authorities therein having charge of roads, respectively.
[Sidenote: Must procure consent of municipal and county authorities before commencing work.]
SEC. III. Be it further enacted, That said corporation shall have full power and authority to survey, lay out, construct and equip, use and enjoy lines or routes of street railroad in the city of Atlanta and in the county of Fulton as follows, to-wit: Lines and routes running to and from such points as it may desire on and over the following streets in Atlanta, to-wit: Orme, North Avenue, State, Luckie, Marietta, and along such other streets as it may desire, and have authority to build a belt road around the said city of Atlanta, in said county of Fulton.
[Sidenote: Route.]
SEC. IV. Be it further enacted, That said corporation shall also have power and authority from time to time to survey, lay out, construct, equip, use and enjoy such other routes or lines of railroad in the city of Atlanta, and in the counties of Fulton, Gwinnett, Cobb and DeKalb, in addition to those especially named in this Act, and to extend any or all of those named, and build branches thereto whenever it deems its to its interest to do so; Provided, That before said corporation commences to construct any part of such line or lines, or routes, it shall obtain, if such construction is to be within the corporate limits of the city of Atlanta, the consent of the proper authorities of said city. Whenever said
Page: 212
contemplated railroad shall desire to pass over the lands of another and said railroad company and the owner of said land fail to agree as to compensation for such right-of-way over such lands, said owner shall have the right to select one arbitrator and the said company shall have the right to select an arbitrator, and a third arbitrator shall be chosen as umpire, whose proceedings and powers shall be the same as allowed and authorized by the Code of 1882, in other cases submitted to arbitration.
[Sidenote: General powers.]
[Sidenote: Proviso.]
[Sidenote: Disputed right-of-way.]
[Sidenote: Arbitrators.]
SEC. V. Be it further enacted, That this corporation is hereby granted all the rights, powers, franchises and privileges heretofore granted to the Metropolitan Street Railroad Company in sections two (2), five (5), six (6), eight (8) and nine (9) of an Act entitled "An Act to incorporate the Metropolitan Street Railroad Company, and to define its rights, powers and privileges, and for other purposes," approved December 12, 1882, and said sections two, five, six, eight and nine are hereby made a part of the charter of the Collins Park and Belt Railroad Company.
[Sidenote: Additional powers granted.]
SEC. VI. Be it further enacted, That the capital stock of said corporation shall be fifty thousand dollars, divided into shares of one hundred dollars each. Said capital stock may be increased, from time to time, to any sum not exceeding three million dollars; Provided, said increase be authorized in each instance by a direct vote of a majority of all the stock of the company, at an annual meeting or at a meeting called for that purpose. But said corporation may organize and commence business whenever the sum of seven thousand dollars is subscribed, and this charter to remain of force for and during the period of thirty years.
[Sidenote: Capital stock.]
[Sidenote: Proviso as to increasing capital stock.]
SEC. VII. Be it further enacted, That the said corporation shall have the right to use, in the running of its trains, animal, steam, electric and all other mechanical powers now known or hereafter discovered.
[Sidenote: Motive power.]
SEC. VIII. Be it further enacted, That the incorporators herein named shall constitute a Board of Directors, who shall hold their office until their successors are elected and qualified.
[Sidenote: Provisional Board of Directors.]
SEC. IX. Be it further enacted, That the rights, powers and privileges herein granted shall cease and be of no effect unless three miles of the road is built and in running order within three years from the granting of this charter, and this charter shall not be transferred until at least five miles of said road is completed and ready for rolling stock.
[Sidenote: Forfeiture.]
SEC. X. Be it further enacted, That all laws and parts of laws in conflict with this Act be, and the same are hereby repealed.
Approval Date: Approved August 16, 1889.