Chap. 47.—An ACT in relation to the Bonds of the city of Wheeling
guaranteed by the State of Virginia.

' Passed January 10, 1867.

Whereas, by an act of the general assembly of Virginia,
passed March the twentieth, eighteen hundred and forty-
eight, it was provided, that to enable the city of Wheeling
thereafter to make and secure her subscription to the capital
stock of the Baltimore and Ohio railroad company of five
thousand shares, amounting to the sum of five hundred thou-
sand dollars, the treasurer of the commonwealth was autho-
rized and required, When he should be thereunto requested
by the council. or other proper authorities of said city, to
subscribe or endorse the guaranty of this state to or upon
the bonds of said city, to be executed in payment of her said
subscription, to the amount of the said sum of five hundred
thousand dollars, according to a form set forth in said act,
and providing that said guaranty should not beso subscribed
or endorsed by the treasurer until said city should, in bind-
ing form, to be prescribed by the Board of public works,
pledge the stock so to be subscribed by her as aforesaid, and
all dwidends and profits arising therefrom, to indemnify the
state against any and all loss that might result to ber in con-
sequence of such guaranty; and providing also, that the said
city should, in like manner, mortgage or pledge such other
property belonging to it as the Board of public works should
consider a.sufficient indemnity against such loss: and whereas,
the said city of Wheeling afterwards, by a mortgage bearing.
date the twentieth day of March, eighteen hundred and fifty-
two, and duly recorded, did convey to the Board of public
works, for the benefit of this state, the said five thousand
shares of the capital stock of the Baltimore and Ohio rail-
rdad company: also the public water works belonging to
the said city of Wheeling; together with the lands, build-
ings, reservoirs, engines and fixtures belonging or appertain-
ing to said water works; and all the fents, issues and profits
arising or to accrue therefrom; also the public landings be-
longing to said city, and all the lands, buildings, fixtures and
franchises unto said public landings belonging or in any wise
appertaining, and the rents, issues and profits arising or to
arise therefrom, to indemnify the state as aforesaid; and
thereupon the said treasurer did, on the twenty-second day of
July, eighteen hundred and fifty-two, subscribe said guaranty,
and the said city did thereafter issue and negotiate said bonds
with said guaranty so. subscribed by said treasurer; and
whereas the said city has since paid of the said bonds so
guaranteed, the sum of one hundred and thirty-four thousand
dollars, and now requests this state to release an equivalent
amount of said stock, to wit: thirteen hundred and forty
shares thereof, amfounting to ene hundred and thirty-four
thousand dollars: .

1. Be it enacted by the general assembly, That upon the
surrender and delivery of said bonds so guaranteed by the
state as aforesaid, to the amount of one hundred and thirty-
four thousand dollars, by said city, or its duly authorized
agent, to the said Board of public works; and upon satisfy-
ing that Board that the residue of said stock and the other
property named in said mortgage, are sufficient to indemnify
the state against loss or damage upon the outstanding bonds,
the said Board of public works be and they are hereby au-
thorized and directed to release and surrender to said, city,
the lien of the state upon thirteen hundred and forty shares
of said capital stock of the Baltimore and Ohio railroad com-
pany, amounting to one hundred and. thirty-four thousand
dollars. .

‘2. Be it further enacted, That upon the like surrender and
delivery of any other of said bonds, so guaranteed by the
state as aforesaid, by the said city or its duly authorized
agent to the said Board of public works, and upon showing
to the satisfaction. of said Board, that the residue of said
stock and the other property named in said mortgage are
sufficient to indemnify the state as aforesaid, that then the
said Board of public works be and they are hereby autho-
rized, from time to time, as such bonds shall. be surrendered
and delivered as aforesaid; to release an equivalent amount of
said capital stock of the Baltimore and Ohio railroad com-
pany to said city. ye

3. Be it further enacted, That the said Board of public
works be and they are-hereby authorized and directed, from
time to time, to surrender and deliver to the said city, or to
its duly authorized agent, any and all stock released by virtue
of this act: provided, that there shall first be a full settle-
ment of all interest due the state of Virginia up to the time
or times of cancellation.

4, This act shall be in force from its passage.