Chap. 76.—An ACT to amend sections 3 and 9 of chapter 53 of the acts of the
general assembly of Virginia, extra session 1901, entitled a “bill to incorporate
the Mount Rogers and Eastern Railroad Company, to grant said corporation
certain privileges, and authorize the counties through which said road may be
constructed to aid the construction thereof.”

Approved January 16, 1902.

1. Be it enacted by the general assembly of Virginia as follows:

§ 1. That section three of chapter fifty-three of the acts of general
assembly, extra session nineteen hundred and one, be amended and re-
enacted so as to read as follows: “That the annual meeting of the stock-
holders of said company shall be held on the second Tuesday of January
of each year, at which election they shall elect a board of five or more
directors, who shall hold office for the period of one fear, or until their
successors shall be elected and qualify; and the directors of the company
shall be authorized to call meetings of the stockholders, for the transac-
tion of any business, after reasonable notice and at such time as they may
deem fit.”

§ 2. That section nine of said chapter be amended and re-enacted to
read as follows:

“For the purpose of aiding in the construction of said railroad, it shall
be lawful for any city, county, or town, by a vote of a majority of the
voters voting and a majority of the freeholders voting at the election
ordered hereunder, in said city, county, or town, to subscribe moneys or
bonds for the stock or bonds of said company, and to subscribe money or
bonds for the purchase of a right of way for the railroad of said company
to the amount and upon the terms and conditions set forth in the order
of the corporation, hustings, circuit, or county court, or council, author-
izing said vote. And the order of the court or council ordering such elec-
tion shall be made upon, and according to the prayer of, the petition of
any ten citizens, being freeholders, and who will advance the cost of such
proceedings, and the expense of holding said election, and shall specify
the maximum amount to be subscribed, and the provisions of the general
law as to the manner of holding said elections, making such subscriptions,
negotiating of loans, and issuing of bonds, shall be followed so far as the
same are consistent herewith: provided, that nothing contained in the
general law shall be construed to be a limitation upon the amount of the
subscription which may be made by any county, city, or town to the stock
or bonds of the said Mount Rogers and Eastern Railroad Company, the
provisions of section twelve hundred and forty-three of chapter fifty-one
of the Code of eighteen hundred and eighty-seven to the contrary not-
withstanding. And the board of supervisors or the council of such city,
county, or town, as the case may be, are hereby empowered and directed
to lay such a levy upon the real and personal property within such city,
county, or town as may be necessary to provide for the payment of the
interest and a sinking fund for the payment of the principal amount of
the subscription of said city, county, or town. Any such city, county, or
town, in order to aid and encourage the construction of said road, may, by
a similar vote, rebate the city, county, or town taxes for such a period as
may be named in the order of the court or council authorizing such vote.
The said proceedings in respect to the voting upon the rebate of taxes to
be had in the same manner as those prescribed for voting upon the ques-
tion of a subscription: provided, that the counties of Carroll and
Southampton be excepted from the provisions of this act. The principal
offices and general offices shall be in the State of Virginia.
3. This act shall be in force from its passage.