CHAP. 112.—An ACT to authorize the board of supervisors of Botetourt
county to borrow $90,000, or so much thereof as may be necessary, for
the purpose of making permanent improvements in certain public
roads and bridges in Fincastle district of said county. (H. B. 218.)

Approved March 4, 1916.

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Botetourt county be, and they are,
hereby authorized and empowered to borrow the sum of ninety
thousand dollars, or so much thereof as may be necessary, for
the purpose of permanently improving such public roads in Fin-
castle district as are hereinafter designated, and to issue bonds
of the said county; and, if the said board of supervisors desire,
to appoint an agent or agents to negotiate said loans; said bonds
may be either coupon or registered, as the said board may pre-
scribe; they shall be signed by the chairman of said board of
supervisors and countersigned by the clerk thereof; shall be
in the denomination of five hundred dollars, or some multiple
thereof; shall bear interest at a rate not to exceed five per cen-
tum per annum, payable annually on the first day of January,
at the office of the treasurer of said county, and shall be payable
in thirty years from the date thereof at said office; but thirty-
five thousand dollars of said bonds (numbered from one to
seventy, consecutively), shall be subject to call after the expira-
tion of ten years from the date of issue and the remaining fifty-
five thousand dollars, shall be subject to call after the expira-
tion of twenty years from the said date; but no bonds issued
under this act shall be sold for less than their par value.

2. The said sum of ninety thousand dollars shall be dis-
tributed for work upon the following roads, to-wit: upon the
macadam road from Eagle Rock to Fincastle eighteen thousanc
dollars; for grading road connecting Eagle Rock and Fincastle
road with the Catawba road, thirty-five hundred dollars; for
grading and macadamizing road from Eagle Rock to Alleghany
county line near Iron Gate, thirty thousand dollars; for grading
road connecting the one last mentioned with the village of Gler
Wilton, twenty-five hundred dollars; If main road is located anc
built up the river by Sullender Brothers, only such amount as ir
the judgment of the board of supervisors as deemed necessary to
connect the village of Glen Wilton with the main road shall be
used for that purpose; for grading road from Eagle Rock up
Craig’s creek to the Craig county line, twenty-two thousand
dollars; for grading road about four miles in length from Eagle
Rock-Fincastle macadamized road at a point near Midway school-
house down the valley to Sweet Springs road (the location of
this road having been determined by the people living along
the proposed route) one thousand dollars; for grading road
from Eagle Rock to the Buchanan road near Saltpetre cave,
eight thousand dollars; provided, that if the present location
of this road is graded, it is proposed to use one thousand dol-
lars of this amount to grade a road leading from Mistress Esta-
line Baker’s to Mistress Rekecca E. Carper’s; five thousand dol-
lars to macadamize about two miles of road leading from Fin-
castle towards Springwood to the Buchanan district line. The
foregoing amounts are specified for the purpose of showing how
much of said money may be used and on what roads, but should
the amount specified for any particular road be in excess of the
amount required for such road, then the surplus thereof shall
be used for the grading of and work on that road, if any, for
which an inadequate amount has been specified, the sum total
of this bond issue to be finally determined by estimate furnished
by a competent engineer, but the aggregate is not to exceed in
any event the sum of ninety thousand dollars.

8. The said board of supervisors shall, when this act takes
effect, issue as provided above and deliver said bonds to the
treasurer of said county, who shall deliver said bonds to the
purchaser or purchasers thereof, upon the payment of the price
at which they are sold. The said treasurer and the sureties on
his official bond shall be liable for the amount received for
said bonds as though it were a district levy, and the said treas-
urer shall pay out such fund on the warrant of the board of su-
pervisors, and he shall receive as compensation for his services
hereunder a commission of one-half of one per centum of the
amount thus coming into his hands.

4. That at the time at which the said board of supervisors
makes its levy for the said district, it shall levy on all the prop-
erty liable in said district to other district levies a tax sufficient
to pay the interest on the bonds of the district so issued, and in
addition thereto to create a sinking fund, to redeem the princi-
pal thereof, such as said board of supervisors may deem neces-
sary or proper.

5. The needs of the said district requiring the immediate
issue of said bonds, an emergency is declared to exist for this
act, and the same shall be in force from its passage.