Chap. 212.—An ACT to authorize the Sale of the Roanoke Valley Ra‘l-
road, under certain conditions.

Passed February 8, 1866.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the president and board of directors of
the Roanoke Valley railroad company, if so authorized by
the stockholders of said company, to sell at public or private
sale, as they may deem most expedient, the said railroad, its

roperty, real and personal, its rights, claims, privileges and
franchise, and to make such transfer and conveyances as may
be necessary in the premises, to vest in the purchaser or pur-
chasers a full and complete title thereto: provided, that such
sale of the said railroad shall not be made for less than a suf-
ficiency to satisfy the mortgage and floating indebtedness of
the said company, and that the terms of such sale, transfer
and conveyances as aforesaid, shall secure and guarantee the
reconstruction of the said railroad from Clarkesville to the
junction with the Raleigh and Gaston railroad, or the proper
completion and equipment of the said Roanoke Valley rail-
road from Clarkesville to Keysville, or from Clarkesville to
the junction of the South-side and Danville railroads, within
a reasonable time, to be determined inthe discretion of the
president and board of directors of the said Roanokee Valley
railroad company.
2. The president and board of directors of the said Roan-
oke Valley railroad*company shall, out of the proceeds of
such ‘sale of the said railroad, first, and promptly, pay all the
indebtedness of the said company as aforesaid; and then
shall be paid to the state of Virginia the preferred stock held
by the commonwealth in said company; and then whatever
remains of the proceeds of such sale, shall be divided ratably
among the stockholders of said Roanoke Valley railroad
company.

%o. Phis act shall be in force from its passage,

Chap. 212.—An ACT to authorize the Sale of the Roanoke Valley Ra‘l-
road, under certain conditions.

Passed February 8, 1866.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the president and board of directors of
the Roanoke Valley railroad company, if so authorized by
the stockholders of said company, to sell at public or private
sale, as they may deem most expedient, the said railroad, its

roperty, real and personal, its rights, claims, privileges and
franchise, and to make such transfer and conveyances as may
be necessary in the premises, to vest in the purchaser or pur-
chasers a full and complete title thereto: provided, that such
sale of the said railroad shall not be made for less than a suf-
ficiency to satisfy the mortgage and floating indebtedness of
the said company, and that the terms of such sale, transfer
and conveyances as aforesaid, shall secure and guarantee the
reconstruction of the said railroad from Clarkesville to the
junction with the Raleigh and Gaston railroad, or the proper
completion and equipment of the said Roanoke Valley rail-
road from Clarkesville to Keysville, or from Clarkesville to
the junction of the South-side and Danville railroads, within
a reasonable time, to be determined inthe discretion of the
president and board of directors of the said Roanokee Valley
railroad company.
2. The president and board of directors of the said Roan-
oke Valley railroad*company shall, out of the proceeds of
such ‘sale of the said railroad, first, and promptly, pay all the
indebtedness of the said company as aforesaid; and then
shall be paid to the state of Virginia the preferred stock held
by the commonwealth in said company; and then whatever
remains of the proceeds of such sale, shall be divided ratably
among the stockholders of said Roanoke Valley railroad
company.

%o. Phis act shall be in force from its passage,