Chap. 330.—An ACT for the relief of the Incorporated Colleges and other
Seminaries of Learning of the State.

Passed February 22, 1866.

Whereas it is represented to the general assembly of Vir-
vinia, that several of the incorporated colleges and other
seminaries of lenrning of the state have invested their funds
in the bonds and other securities of the commonwealth; and
the general assembly being desirous of meeting the just
obligations of the commonwealth, and at the same time en-
couraging the cause of liberal education: Theretore,

1. Beit enacted, That the auditor of public accounts be
and is hereby authorized and directed to draw on the publie
treasury in favor of the proper authorities of any incorporated
college or other seminary of learning, for the interest which
has acerued upon any honds of the commonwealth, or bonds
of the James river and Kanawha company guaranteed by the
commonwealth, or any other bonds eu: wanteed by the com-
monwealth, held by or for such eclleve or senunary of learn-
ing, and also for the dividends on the stock of the-old James
river company, due and payable by the commonwealth to
such colleges or seminaries of learning: provided, that the
arrears of interest hereby authorized to be paid shall be pay-
able one-half on the first of July, and the residue on the first
of January vext: and provided further, that the interest or
dividends shall not be paid on any bond or certificate of
indebtedness the payment whereot is prohibited by the con-
stitution of Virginia. ‘he sums of money received, by
virtue of this act, by the several seminaries and colleges.
shall he in satisfaction of alike amount of interest due them
on certificates of Indebtedness of the state of Vireinia held
by or for them, and on bonds so held and guaranteed by the
state of Vireinia. |

2. This act shall be in force from and after the passage
thereof, and shall continue in foree until the commonwealth
shall resume the regular payment of the interest on the
publie debt.

Chap. 330.—An ACT for the relief of the Incorporated Colleges and other
Seminaries of Learning of the State.

Passed February 22, 1866.

Whereas it is represented to the general assembly of Vir-
vinia, that several of the incorporated colleges and other
seminaries of lenrning of the state have invested their funds
in the bonds and other securities of the commonwealth; and
the general assembly being desirous of meeting the just
obligations of the commonwealth, and at the same time en-
couraging the cause of liberal education: Theretore,

1. Beit enacted, That the auditor of public accounts be
and is hereby authorized and directed to draw on the publie
treasury in favor of the proper authorities of any incorporated
college or other seminary of learning, for the interest which
has acerued upon any honds of the commonwealth, or bonds
of the James river and Kanawha company guaranteed by the
commonwealth, or any other bonds eu: wanteed by the com-
monwealth, held by or for such eclleve or senunary of learn-
ing, and also for the dividends on the stock of the-old James
river company, due and payable by the commonwealth to
such colleges or seminaries of learning: provided, that the
arrears of interest hereby authorized to be paid shall be pay-
able one-half on the first of July, and the residue on the first
of January vext: and provided further, that the interest or
dividends shall not be paid on any bond or certificate of
indebtedness the payment whereot is prohibited by the con-
stitution of Virginia. ‘he sums of money received, by
virtue of this act, by the several seminaries and colleges.
shall he in satisfaction of alike amount of interest due them
on certificates of Indebtedness of the state of Vireinia held
by or for them, and on bonds so held and guaranteed by the
state of Vireinia. |

2. This act shall be in force from and after the passage
thereof, and shall continue in foree until the commonwealth
shall resume the regular payment of the interest on the
publie debt.