Be it enacted by the General Assembly of the Commonwealth of Kentucky:
§ 1. That P. G. Johnson, D. A. Brooks, W. B. Dycus, G. D. Cobb, P. L. Yancey, D. B. Cassidy, and J. N. Flanagan, and their successors, be, and they are hereby, constituted and created a body politic and corporate, by the name and style of the “Trustees of the Dycusburg Academy,” and as such shall have perpetual succession, with full power to acquire, hold, and transfer real and personal estate, make contracts, sue and be sued, plead and be impleaded in their corporate capacity; to make such rules, by-laws, and ordinances as they may deem necessary, consistent with the constitution and laws of this State or of the United States.
§2. That said trustees shall have power over all the business concerns of said academy; they may appoint a president, treasurer, clerk, and such other officers as they may think necessary.
§3. That as many as five of said trustees, meeting in pursuance to their own rules, shall constitute a quorum for the transaction of business. The said trustees shall have power to employ a principal and such assistant teachers, male or female, as they may deem necessary.
§4. They shall have power to increase the number of trustees, from time to time, as they may think the interests of the institution may require; they may have power also to fill vacancies that may happen in said corporation, and have power to remove from office any member of the board of trustees, a majority of all the board concurring.
§ 5. That all the estate, money, or property now belonging to, or which may hereafter be acquired by, said corporation by devise, gift, or otherwise, shall be used in such manner as the trustees, by their corporate action, may determine.
§ 6. That said trustees shall not be required to procure a common seal, but all their corporate acts may be performed and evidenced by the official signature of the president; and said president shall be chosen from their own body annually.
§ 7. That the trustees of the Dycusburg academy shall have power to confer upon the pupils of said academy, any or all the diplomas or degrees conferred by other corporate institutions of learning in this State; and the private seal of the president of the board and principal of said academy, may stand in lieu of a corporate seal, and until one is procured, should said board determine to use a common seal.
§8. That when the academy, hereby made corporate, shall afford facilities for teaching all the children and youths in the district in which it is situated, and for the period during which each of said pupils is or hereafter may be entitled to tuition under the general laws in relation to common schools, then the school trustees may, if they see proper, report the same as the common school of said district; and it shall be entitled to all moneys coming to such district from the common school fund: Provide always, That when said academy shall cease to furnish facilities for teaching, as above required, then the benefits conferred on it in this section shall cease and determine, and common schools are to be taught in said district as heretofore required by law.
§ 9. This act shall take effect from and after its passage, and the Legislature reserves the right to alter or abolish this charter.
Approved February 20, 1860.