Chap. 6.—An ACT to authorize and empower the board of supervisors of
the county of Brunswick to issue bonds of the said county to an amounc
not exceeding $57,000.00 in exchange for and to raise funds to pay off
the outstanding bonds of said county, issued by it in payment of its
subscription to the capital stock of the Atlantic and Danville Railway
Company. (S. B. 152.)

Approved January 30, 1914.
Whereas, the county of Brunswick on the twenty-first day of
January, eighteen hundred and eighty-nine, issued its bonds to the
amount of seventeen thousand and five hundred dollars to the At-
lantic and Danville Railway Company, payable on the twenty-first
day of January, nineteen hundred and fourteen, and afterwards on
the fifth day of March, eighteen hundred and ninety, the said
county issued its bonds to the said Atlantic and Danville Railway
Company to the amount of seventy-one thousand and seven hun-
dred and fifteen dollars, in full payment of the subscription made
by the said county to the capital stock of the said Atlantic and
Danville Railway Company, pursuant to the provisions of an act
of the general assembly of Virginia incorporating the said Atlantic
and Danville Railway Company, approved on the twenty-first day
of April, eighteen hundred and eighty-two; and
Whereas, the said county afterwards from time to time redeemed
and paid off certain of the said bonds, leaving a balance of said
bonds now outstanding in denominations of five hundred dollars
each, to the amount of fifty-seven thousand dollars, thirteen thou-
sand and five hundred dollars of which became due and payable on
the twenty-first day of January, nineteen hundred and fourteen,
and the residue of which will become due and payable on the fifth
day of March, nineteen hundred and fifteen; and
Whereas, by an act of the general assembly of Virginia, ap-
proved on the thirtieth day of January, nineteen hundred, the board
of supervisors of said county was authorized to issue bonds of the
said county to be exchanged for or used in paying off the bonds of
said county, issued by the said county in payment for the stock of
the Atlantic and Danville Railway Company as aforesaid, and
relieving the said board of supervisors from providing a sinking
fund for the payment of said outstanding bonds; which act, how-
ever, refers in its title to said outstanding bonds as being payable in
nineteen hundred and fifteen, and in other respects is not deemed
sufficiently specific in its provisions; and

Whereas, the said board of supervisors, having been unable to
negotiate the sale of said bonds at a satisfactory rate of interest to
persons not residing in the said county, has resolved that the board
is of opinion that the interest of the county would be promoted by
issuing said bonds as registered bonds to tax payers of the county
of Brunswick, at a rate of six per cent interest, so that the county
will derive the benefit of taxing said bonds and such further bene-
fits as may accrue from said bonds being held by citizens of the
county; provided, however, that in event of the sale of said bonds
to tax payers of the county, they shall in-addition to being reg-
istered, contain a provision to the effect that in consideration of the
rate of interest at which they are issued, the said bonds shall not
be transferable to any person who is not a tax payer of the county;
and it is also the sense of the board that in the event of the issuance
cf said bonds to tax payers of the county, the general assembly of
Virginia be requested to enact a statute providing that the county
of Brunswick shall be and remain the situs for the taxation of said
bonds for both State, county and district purposes, and that such
a bill be introduced in the general assembly of Virginia by the mem-
ber of the house of delegates for the county of Brunswick, and by
the member of the senate of Virginia from the twenty-fifth sen-
atorial district, as may be necessary or expedient to enable said
board of supervisors to carry out substantially the purpose of said
board as expressed in said resolution, and the general assembly of
Virginia be requested to enact the same as an emergency bill, there-
fore

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of the county of Brunswick be, and it is
hereby, authorized and empowered to execute registered bonds of
said county, in denominations of five hundred dollars each to an
amount sufficient to pay off the principal of the bonds of said
county issued in payment for the capital stock of the Atlantic and
Danville Railway, and now outstanding as aforesaid, not to exceed
the sum of fifty-seven thousand dollars, and deliver the same at
par to any tax payers of the said county of Brunswick (whether
cfficers of said county or not) in the order of their subscriptions,
who may subscribe and pay therefor the par value of said bonds
in cash, or, by exchanging the outstanding bonds aforesaid of the
said county at par for the new bonds authorized to be issued by
this act; the said bonds to be dated at such time as the board of
supervisors may determine, and thirteen thousand and five hun-
dred dollars thereof to bear interest at the rate of six per centum
per annum from the twenty-first dav of January. nineteen hundred
and fourteen, and the residue to bear such interest from the fifth day
of March, nineteen hundred and fifteen, until paid, and the principal
of said bonds to be payable at the office of the treasurer of said
county, at the town of Lawrenceville, Virginia, in series of two
thousand dollars annually, on the first day of January, nineteen
hundred and nineteen, and on the first days of January of each
year thereafter, until the outstanding principal shall be reduced
below the sum of two thousand dollars, and the residue so remain-
ing shall be made payable on the first day of January next there-
after, and the interest on each of said bonds to be payable semi-
annually at the office of said treasurer on the first day of each July
and January after the date of said bonds, until the maturity of this
bond.

Sec. 2. The bonds authorized by this act shall be signed by the
chairman and countersigned by the clerk of said board of super-
visors, and the seal of said board affixed thereto, and shall be in
form substantially as follows:

UNITED STATES OF AMERICA,

COMMONWEALTH OF VIRGINIA,

COUNTY OF BRUNSWICK.

Number. Dollars.
$500.00.

The county of Brunswick, in the State of Virginia, acknowledges
itself indebted to.............. eee eee , in the sum of five hun-

dred dollars ($500.00), which it promises to pay in lawful money
of the United States of America, at the office of the treasurer of
said county, on the first day of January, nineteen hundred and
sexe mem mew ox » With interest thereon at the date of six per centum,
per annum payable in such lawful money aforesaid, on the first day
of July and January of each year, until the maturity of this bond.

This bond is issued pursuant to an order this day entered by the
board of supervisors of said county, under and by virtue of the
provisions of an act of the general assembly of Virginia, approved
0) | (here insert date this act shall be approved),
nineteen hundred and fourteen; and is one of a series of like de-
nomination issued by said county of Brunswick in pursuance of
the act of the general assembly aforesaid.

In consideration of the rate of interest at which this bond is
issued, the same is not transferable to any person who is not a
tax payer of the county of Brunswick; and in the event that such
transfer shall be made in violation of this stipulation, the county
of Brunswick and the district thereof in which the person making
such transfer resided at the time of the transfer shall be and remain
the situs for the taxation of this bond, for State, county and dis-
trict purposes.

In testimony whereof, witness the signature of the chairman
of the board of supervisors of: said county of Brunswick, and the
seal of said board of supervisors hereto affixed, duly attested by the
countersignature of the clerk of said board of supervisors, this
se wameuee day of............, nineteen hundred and.........

Clerk of the board of supervisors.

And on the reverse side of such bond there may be such form
of transfer and such other words and figures for the convenient
designation thereof as the said board of supervisors may deem
proper.

Sec. 3. Bonds authorized by this act and issued to tax payers
of the county of Brunswick shall not be transferable to any person
who is not a tax payer of said county, and in the event that such
transfer shall be made in violation of the provisions of this act, the
said county of Brunswick, and the district thereof in which the tax
payers resided at the time of the transfer, shall be and remain the
situs for the taxation of said bonds for State, county and district
purposes, and the treasurer of said county is hereby authorized and
empowered, in the event of such transfer to a person who is not a
tax payer of the county or Brunswick, to deduct from the interest
accruing on such bonds all taxes and levies assessed and charged
against said bonds at the time such interest may become payable,
which taxes and levies, when so deducted by the treasurer, shall be
accounted for by him in his settlements with the auditor of public
accounts and the board of supervisors of said county, as other taxes
and levies received by him are required by law to be accounted for.

Sec. 4. The said board of supervisors shall cause all of said
bonds issued under this act to be registered by the clerk of said
board, in a book to be provided and kept for that purpose, in the
names of the persons to whom the same are issued, showing the
date of issue and the districts in which such persons reside and the
dates and numbers of said bonds, and when the same become pay-
able, and in which book also each transfer of the said bonds shall
likewise be registered by the said clerk, and copies of such registra-
tion of said bonds and of such transfers thereof shall be furnished
by the said clerk to the treasurer and the commissioners of the
revenue of said county.

Sec. 5. All acts and parts of acts inconsistent with the provisions
of this act are hereby repealed.

Sec. 6. An emergency arising requiring the immediate issue of
the bonds herein provided for, this act is declared an emergency act,
and shall be in force from its passage.