Chap. 59.—An ACT to authorize county subscriptions to the eapital
stock of the Virginia Western railroad.

Approved April 11, 1887.

1. Be it enacted by the general assembly of Virginia, That
any county in this State. within which the line of the Vir-
ginia Western railroad company, or any branch thereof, is
located or proposed to be located and built. may subscribe to
the capital stock of said company ; and to this end it shall
be the duty of the county court of any such county, or the
judyve thereof in vacation, on the application of the president
of said company, stating the amount of the subscription
asked for, accompanied by a petition of not less than twenty
of the citizens, frecholders of such county, approving such
application, to provide, by proper order ot said court, or
judge, for taking a vote of the qualitied voters of such
county, for and against such subscription, at the next general
election to be held in said county, or at a special election to
be ordered by the county court of such county, or the jude
thereof in vacation, as may be requested by said company
and designated in such order.

2. Such order shall be made, and notice thereof shall be
given by the sheriff of said county, by publication at the
front door of the courthouse of the county, and otherwise. if
the court or judge shall so direct, for at least thirty days
betore the taking of such vote.

3. The court or judge thereof shall designate, in’ such
onler, the commissioners and other officers who are to con-
duct: such election and superintend the taking of such vote
and makine proper returns thereof. Such returns shall be
made to the judge of such court on the second day atter such
election, and thereupon the said judge, tovether with the
clerk of said court, shall carefully examine said returns and
ascertain the result of said vote, and shall cause the same to
be entered upon the order-book of said court at the ensuing
term thereof. And if it shall appear from said returns that
three-titths of the qualified voters voting on the question.
and ami: ajority of the frecholders thereof voting on the ques-
tion, shall be in favor of the subscription, the judve of said
court shall enter of record an order requiring such subscrip-
tion to be made by some agent whom he shall appoint and
designate therefor.

4. Any such subscription shall be payable in the bonds of
such county, and shall be received by the company at their
par value in payment of said subscription; and thereatter the
said court shall make all necessary orders for the execution
by the board of supervisors of snd county of the bonds of
said county for the amount of the subscription and the issu-
ance and delivery thereof, as herein authorized, and such
bonds shall be made payable at such times and places, and in
such sums with interest at six per centum per annum, as the
said court may determine and order, the time at which said
bonds are payable to be specified in the order directing the
election, Such bonds shall be delivered to said company in
proportion, as near as may be, as sections of five miles of
said road within said county are constructed and completed
with rails and ready for use, and not otherwise. The
amounts which said counties, or either of them, may sub-
scribe to the capital stock of said railroad company under
this act, shall not be limited by the provisions of section
sixty-two of chapter sixty-ono of the Code of eighteen hun-
dred and seventy-three, but the amount of bonds which may
be issued to said company, or to which it may be entitled
under the provisions of this act, shall not exceed in the ag-
gregate such amount as shall require to pay the interest
thereon, the imposition of an annual tax in excess of thirty
cents on the one hundred dollars on the assessed valuation of
the taxable property of such county at the date when the
first instalment of said bonds shall become deliverable and be
demanded; but such first instalment of bonds shall not be
delivered after five years from the passage of this act unless
the said company shall have become entitled thereto under
the provisions of this act within the said period of five years
It shall be the duty of the board of supervisors of any county
in which a subscription is made under this act, and such
board of supervisors are hereby authorized and required, to
levy and collect a tax sufficient to pay the interest and to
provide asinking fund to liquidate the principal of said bonds
when due.

5. This act sliall take effect and be in force from its pas-
save.