Chap. 41.—An ACT to amend the 46th, 47th, 48th, 49th, 50th and 51st
sections of chapter 61 of the Code of Virginia, edition of 1860.

Passed Tauwary 8, 1867. —

1. Be it enacted by the general assembly, That the forty-
sixth, forty-seventh, forty- eighth, forty-ninth, fiftieth andy
fifty- first. sections of chapter* sixty-one of the Code of Vir-
ginia, edition of eighteen hundred and sixty, be amended
and re-enacted so as to read.as. follows:

“$45. When a joint stock company shall have been incor-
porated to construct a railroad or turnpike through, by or
near tO, any county, city or town, likely to be benefitted
thereby, the court of such county, city or town may make
an order requiring the sheriff or sergeant and commissioners
of elections at the next general election for members of the
general assembly, or at any other time, not less than one
month from the date. of the order, which shall be designated
therein, to open a poll and take the sense of the persons
qualified to vote for members of the general assembly of
such county, city or town, on the question, whether the said
court, on behalf of sugh county, city or town, shall subscribe
to the stock of such company. The said order shall state
the maximum amount proposed to be subscribed, whieh, in
no case, shall exceed one-third part of the stock to be sub-
scribed by others than the state.

-Ҥ47, The commissioners of elections, after taking an
oath fairly to take and rettrn the poll, shall open poll books
at the courthouse of the .county, city or town, and &t the
other places therein at which separate elections for members
of assembly are held, and shall cause to be entered upon such.
books, in a column to be headed “subscription,” the names
of the persons qualified to vote for members of the general
assembly of the county, city or town, who attend and are in
favor of the subscription; and shall cause to be entered upon
said books, in another column, to be headed “no subs
tion,” the names of the said voters. of the county, ci
town, who attend and are opposed to the subscription. |
commisioners who take the said polls shall certify them,’4and
within five days after, the day they were eaten, return. them
to the clerk of such court.

“§ 48. If by the said poll books it shall appear ‘thet three-
fifths of the persons qualified to vote for members of the
general assembly, voting upon the question, are in favor of
the subscription, the said court, at its term next after taking
the said. polls, or at any other term thereafter, shall make an

order requiring the sheriff or sergeant to summbn the acting
justices thereof to attend the next succeeding term of the
court, or any other term thereafter to be named in said
order, or in the case of a city or town, the common council
or other pfoper authorities of such city or town, to carry out
the wishes of the persons qualified to vote for members o:
the general assembly. : _— |

“$49. The acting justices being summoned as directed in
the Preceding section, and a majority being present, or in
the case of a city or town, the common council or other pro-
per authorities of such city or town, shall have power to
determine what amount of the capital stock (not exceeding
the maximum mentioned in section forty-six of this chapter)
shall be subscribed for on behalf of such county, city or
town, and shall ener of record the amount so agreed to be
subscribed; and thereupon, shall appoint an agent to make
the subscription, to be paid in such instalments as may be
agreed upon by said court, council or other authorities as
may be called for,by said company. . :

Ҥ50. For the purpose of paying the quotas on said stock
as they may be called for, or the instalments of such sub-
scriptions as they may fall due, the court, council or other
authorities, at the time when such subscription shall be made,
shall have power to appoint an agent or agents to negotiate
a loan or loans for and in the name of such county, city or
town; and at the time at which it makes its levy for such
county, city or town, shall levy on all the landsgind all other
subjects liable to state tax and county or corporation levy in
such county, city or town, such tax, to pay the amount of such
subscription, or of such loan or loans as may be authorized,
and the interest thereon, as said court, council or other au-
thorities may deem necessary and proper; and from year to
year repeat such assessments until the subscription or loan
made by such court, council or other authorities, together
with all interest, is fully paid. But sueh levy, for a year,
shall not exceed one-fifth of the whole amount of such sub-
scription. OO

Ҥ51. The right to stock in any company subscribed by
any county, city or town, under.the authority of the two
preceding sections, shall vest in such county, city or town.
And the court of such county, or the council or other authori-
ties of such city or town, shall have power from time to time
to appoint a proxy to represent the stock in the meetings of
mtockholders of the company, and also an agent to collect
vidends on its stock; which dividends, when collected,
id court, council or other authorities, shall annually
y to the diminution of the levy in such coynty, city or
town. Nothing herein ‘contained shall interfere in any man-
ner with or alter the charter of any city, fown or corporation
heretofore granted.” °

2. This act shall be in force from its passage.