Chap. 162.—An ACT to provide for the issuing of county bonds for perma.
nent rond or bridge improvement in the magisterial districts of the
county of Scott. [S B 310]

Approved March 13, 1918.

1. Be it enacted by the general assembly of Virginia, That bonds
shall be issued by said county for the purpose of macadamizing or
otherwise permanently improving the public roads and bridges of
said magisterial districts in said county upon the condition here-
inafter provided. The circuit court of said county upon the peti-
tion of fifty freeholders of any magisterial district or districts in
said county, shall make an order requiring the judges of election at
the next election of county officers, or at any other time not less
than thirty days from the date of such order which shall be desig-
nated therein, to open a poll and take the sense of the qualified
voters of such magisterial district or districts on the question,
whether the board of supervisors of said county shall issue bonds
for said purposes, or either of them, under the provisions of this
act. The approximate location, length and width of such roads
as it is proposed to be macadamized or permanently improved from
the proceeds of the bonds sought to be issued thereunder, shall be
named in the order. The said order shall designate the magisterial
district or districts in which said road or roads and bridges fie, stat-
ing as nearly as practicable what length of each road lies in each
district, and the maximum amount of bonds to be issued for the
permanent improvement of the roads and bridges in each district,
which shall in no case, together with any bonds previously issued
on behalf of any district and outstanding, exceed an amount in
excess of twenty per centum of the total assessed taxable values at
the time in the said magisterial districts in which the road or roads
are proposed to be built or permanently improved. The qualified
voters at any special election held under this act, until otherwise
provided by general law, shall be those qualified to vote at the pre-
ceding November election, and those who may have come of age and
registered since said preceding regular November election, except
those who by commission or crime or removal from the district or
districts have disqualified themselves to vote.

2. The regular election officers of said county in and for the
said district or districts, at the time designated in the order author-
izing the vote, shall open polls at the various voting places in the
said district or districts, including the polls at the voting places in
the incorporated towns located within such district or districts, and
shall conduct such election and close the polls in such manner as
is provided by the law in other elections; and at said election, each
qualified voter who shall approve such issue of bonds shall deposit
a ticket or ballot on which shall be written or printed the words,
“For bond issue,” and each quauified voter who shall oppose such
issue of bonds shall deposit a ticket or ballot whereon shall be writ-
ten or printed the words, “Against bond issue.” The judges of
election at the several voting places shall immediately after the clos-
ing of the polls at each of the said places, count the ballots depos-
ited, and shall, within two days after said election, make return
thereof as is provided in other elections. Said ballots shall be
printed and furnished by the regular election officers.

3. The commissioners of election of said county shall, within
two days after the judges of election have made returns of the poll
books and ballots as aforesaid, meet at the office of said clerk and,
having taken an oath before him, faithfully to discharge their
duties, canvass the returns and certify the results thereof to the
circuit court.

4. If it shall appear by the report of the commissioners that
a majority of the qualified voters of the district or districts in which
the road or roads are to be built or permanently improved, voting
on the questions, or on either of them, are in favor of issuing the
bonds for the purposes aforesaid, the circuit court shall, at its next
term, enter of record an order requiring the supervisors of the
county to proceed at their next meeting to carry out the wishes of
the voters as expressed at the said election. :

6. The board of supervisors at their meeting, or as soon there-
after as practicable, shall determine what amount of bonds for road
improvement in said district or districts, not exceeding the maxi-
mum aforesaid, shall presently be issued, and shall enter of record
the amounts so determined, and in event they do not at said meet-
ing direct the present issuing of all the said bonds, they may there-
after from time to time, direct the residue thereof to be issued to
carry out the wishes of the voters, so far as necessary, as expressed
in such election, and in event the board for any reason, fails or
refuses to issue the bonds so authorized to be issued, the circuit
court of the county may upon the complaint of ten qualified voters
of the county and after ten days’ notice to the chairman of the
board, for cause shown, issue an order directing them to issue the
said bonds or any unissued residue thereof, or such portion thereof
as the court may, from time to time, deem proper to be issued, in
order to enable the proper road authorities, to carry out the wishes
of the voters as expressed in said election. And this remedy shall
apply to any bond issue heretofore or hereafter authorized by vot-
ers of any district or districts. They shall have power to appoint
agent or agents to sell said bonds, provided, that said bonds shall
be sold to be paid for in lawful money only, and shall not be sold
at a price that will net the county less than par value. When a
sale of bonds has been negotiated the board of supervisors shall
issue the same. Such bonds may be either registered or with cou-
pons attached as said board of supervisors may prescribe, and shall

ave written or printed in each, the following sentences: “These
bonds are issued for road improvement in................ magis-
terial district, but the full faith and credit of the entire county of
SA WEE RR DESO EEE meee is hereby pledged for that payment, and a
tax 1s to be levied upon the property in said district to pay the
interest on them and to create a sinking fund sufficient in amount
to pay them upon maturity.” Said bonds shall be signed by the
chairman and countersigned by the clerk thereof, under the seal
of the board; shall be in denominations of one hundred dollars or
some multiple thereof; shall bear interest at a rate not exceeding
six per centum per annum, payable semi-annually at the office of
the treasurer of said county, and shall be payable not exceeding
thirty-four years from the date thereof at said office, but may in
the discretion of the said board, be made redeemable at such time
or times or after such period or periods and upon such notice as
the said board may prescribe and stipulate upon the face of the
bonds when issued. The board shall deliver them to the treasurer
of the county, who shall deliver said bonds to the purchasers thereof,
or their order, upon the payment of the price thereof. The said
treasurer and his sureties shall be liable for the amount received for
said bonds as though it were a county levy and said fund shall be
expended for the purposes and in the magisterial district or dis-
tricts for which it was intended, and none other. The said treas-
urer shall receive as compensation for his services hereunder, one-
fourth of one per centum of the amount thus coming into his hands
and also the reasonable cost to him of giving surety on such addi-
tional bond or bonds as may be required of him, if any, on account
of his receipts heretofore or hereafter of said funds, and the board
of supervisors of such county may direct the treasurer to deposit
the proceeds of said bond issue in such bank or banks as it may
approve, to the credit of the said treasurer to be paid out on his
checks therefor, and at the rate of interest to be specified, and all
interest accrued therefrom, shall be accounted for by said treasurer
and be expended for the purposes of the said road improvement,
and in so far as not necessary for said road improvement, shall be
covered into the sinking fund for the payment of the principal of
said bonds as provided in section seven.

7. After issuing such bonds, or any of them, when the next levy
is made, or tax imposed in said county, a tax shall be levied on all
property liable to State tax in such magisterial district, as rated on
the said bond issue, to pay the interest on the bonds so issued, and
to create a sinking fund to redeem the principal thereof at maturity;
and from year to year said levy or assessment shall be made until
the debt and interest are paid, which levy shall not exceed one dol-
lar and fifty cents on the hundred dollars of taxable property within
the said magisterial district of said county; the amount levied for
set apart as a sinking fund, and the interest accruing thereon shall
be used for the payment of the principal of said bonds, and for no
other pu .

The board of supervisors is hereby authorized and empowered
to apply any part, or all of said sinking fund to the payment or
purchase of any said bonds, at any time, and all bonds so paid off
or purchased by said board of supervisors shall be immediately can-
celled, and shall not be re-issued, and the board of supervisors are
authorized and empowered to lend out, upon real estate security, the
loan not to exceed fifty per centum of the assesed value of such real
estate, or deposit in bank at interest, all accumulations of money to
the credit of said sinking fund, provided, as aforesaid, and to col-
lect and re-invest the same and the interest accruing thereon from
time to time, so often as may be necessary or expedient, until such
bonds become subject to call; provided, that no money to the credit
of said sinking fund shall be loaned out or deposited or invested
by the said board of supervisors, unless said loan, deposit or invest-
ment shall be first approved by the circuit court of said county, or
the judge thereof in vacation, and the form of the security be exam-
ined and approved by the Commonwealth’s attorney of said county,
which approval shall be entered of record in the order book of said
court.

8. When the said county wishes to redeem any of its outstand-
ing bonds, subject to call, issued under the provision of this act, it
may, through the chairman of the board of supervisors, give notice
of its readiness to do so to the holder in person or by publication
thereof once a week, for two successive weeks in a newspaper pub-
lished in said county or nearest thereto. It shall be sufficient in
the notice to give the number and amount of each bond, and fix a
day for its presentation for payment, which shall not be less than
ten days from the date of personal service of the notice, or the com-
pletion of the publication thereof, as the case may be.

If the bond be not presented on the day fixed for its redemp-
tion, interest thereon shall cease from that day.

9. Local road authorities of the county shall apply to the State
highway commissioner for, or shall employ a competent road engi-
neer, whose selection shall be approved by the State highway com-
missioner to make plans and specifications of all roads or bridges
to be built or permanently improved from the proceeds of such bond
issue, and to supervise the building of the same, and shall let the
work to contract to the lowest responsible bidder, after due public
access to the specifications and due public advertisement for bids
for at least two consecutive weeks in a newspaper having a general
circulation in such county, and in such publication as the State
highway commissioner may deem proper, if any, for the furnishing
of all material, and for the construction of such road according to
such plans and specifications. Such commissioner and road author-
ities may reject any and all bids, and before entering into any con-
tract with any bidder other than the road authorities, they shall
require a bond in the penalty of at least thirty per centum of the
contract price, with sufficient security, conditioned that if the pro-
posal shall be accepted, the contractor will furnish the material and
perform the work upon the terms proposed, within the time pre-
scribed, and in accordance with the plans and specifications; par-
tial payments may be provided for in the contract, and paid in
the manner herein provided when certified to by such commissioner
or road engineer; approved by him to an amount not exceeding
ninety per centum of the value of the work done, and ten per cen-
tum of the contract price shall be retained until ninety davs after
the entire work has been accepted and open to the public. The said
contractor shall conform to all reasonable regulations and directions
of the said highway commissioner or road engineer. The board of
supervisors or road authorities shall have no power or authority to
expend the money derived from the bond sales as aforesaid, except
to pay for materials furnished and work done under supervision
and contract as aforesaid.

10. No election upon the question of the issuance of bonds under
this act shall be held oftener than once in two years for the same
magisterial district.

11. An emergency existing in order that the magisterial dis-
tricts of the said counties may vote upon the question of issuing
bonds, this act shall be in force from its passage.

All acts and parts of acts in conflict with this act are hereby
repealed.