An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1916 |
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Law Number | 183 |
Subjects |
Law Body
Chap. 183.—An ACT to amend and re-enact an act approved March 21,
1914, entitled an act to authorize Albemarle county, from time to time,
as necessary, to borrow money and issue bonds for a sum not exceed-
ing $40,000, for the purpose of uniting in the building, in the county
of Albemarle, of State money aid or convict Jabor plan roads, as well
as reads where private individuals contribute one-half the cost thereof,
and to assist in securing und:rgrade crossings under the tracks of
the Chesapeake and Mhio railway company and, the Southern railway
company, respectively, in the county of Albemarle. (H. B. 216.)
Approved March 16, 1916.
1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Albemarle county be, and they are,
hereby authorized to borrow, from time to time, as necessary,
money, not exceeding forty thousand dollars, with which to
establish and construct, on the State money aid plan, or convict
labor plan, improved and permanent highways in the county of
Albemarle, as well as to contribute one-half of the cost of build-
ing in said county, under the supervision and direction of the
State highway commissioner, public highways, when private
individuals contribute the other half of the cost of same, and
also to assist in securing undererade crossings under the tracks
of the Chesapeake and Ohio railway ccmpany and of the South-
ern railway company, respectively, in said county.
Said loan or loans shall be effected by issuing bonds of
the county, signed by the chairman of said board and counter-
signed by the clerk thereof, payable in not more than thirty
years after the date of the issue of said bonds; the said bonds
to be in the denominations of one thousand dollars ($1,000) and
five hundred dollars ($500) each, or of either, as the said board
may think best, with coupons attached for the semi-annual in-
terest. Said bonds shall be numbered consecutively and shall
contain a provision that at any time after five (5) years from
the date thereof any or all of the said bonds at the ontion of
said board, may be paid off but in case the said board of super-
visors after the expiration of five (5) years should wish to
pay off any or all of said bonds, they shall select by lot the bonds
so to be paid off at any time, and shall give notice bv publi-
cation in some newspaper published in the city of Charlottes-
ville or county of Aibemarle for at least once a week for four
consecutive weeks of the numbers of said bonds so selected, and
thereupon, they shall be authorized to pay off the bonds so se-
lected upon any interest period after the said selection by lot
of the said bonds shall have been made and publication given,
and thereupon interest shall cease upon said bonds so selected
at the next period after the same shall have been selected for
payment and the board of supervisors may continue this method
of payment of said bonds after the said period of five (5) years
rom their date from time to time until all of said bonds are
paid off.
1916.] ACTS OF ASSEMBLY. 371
3. The said board of supervisors may fix the rate of inter-
est which said bonds shall bear, but such rate shall not exceed
six per centum per annum.
4. The said board of supervisors shall have full power to
negotiate said bonds through an agent, or in any way they think
best, and may deposit the proceeds in any one or more banks in
Charlottesville, Virginia, subject to their order pending tne ap-
plication of such proceeds to the purposes for which they are
raised; provided, however, that they shall not negotiate the six
per centum bonds of the county for less than par value.
While such bonds shall be the county bonds, tor the pay-
ment of which the county is liable, yet for so much of the money
raised from the proceeds of the sale of such bonds as shall be
used in building saia permanent public highways, exclusive of
said undergrade crossings and relocation of roads, the respec-
tive road districts of said county shall be primarily liable to the
extent of the amount expended in such district, and in the event
that any of such bonds, the proceeds of whicu are used to build
such highways, are paid out of the general county levy, it shall
be reimbursed out of the district road levy for the district in
which such proceeds are expended.
6. On account of the necessity of immediate use of some
of the money to be raised, especially that for securing under-
grade crossings, as aforesaid, this act is declared an emergency
act, and shall be in force from its passage.