CHAP. 284.—An ACT to amend sections 1 and 7 of an act entitled an act
to provide for the issuing of county bonds for permanent road and
bri improvement in the counties of the State, approved Februar
25, 1910. (S. B. 106.

Approved March 17, 1916.

1. Be it enacted by the general assembly of Virginia, That
sections one and seven of an act entitled an act to provide for the
issuing of county bonds for permanent road and bridge improve-
ment in the counties of the State, approved February twenty-
fifth, nineteen hundred and ten, be amended to read as follows:

Sec. 1. Be it enacted by the general assembly of Virginia,
That bonds may be issued by any county for the purpose of ma-
cadamizing or otherwise permanently improving the public
roads and bridges of any county, upon the conditions herein-
after provided. The circuit court of the county, upon the peti-
tion of a majority of the board of supervisors of said county, or
upon the petition of one hundred and fifty freeholders of 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
designated therein, to open a poll and take the sense of the
qualified voters of the county on the question whether the board
of supervisors shall issue bonds for said purposes, or either of
them; the approximate location, length and width of such roads
as is proposed to be macadamized or permanently improved to
be named in the order. But no election shall be ordered unti
after the court has been assured by the scate highway commis-
sioner, or his representative, that the amount of bonds proposed
to be issued will be approximately sufficient to improve the roads
set out in the order. The estimated cost of each road, or part
thereof, to be set out in the order of the court for expenditures
solely on said road or part thereof. The said order shall desig-
nate the location of such roads or bridges as are to be improved,
and the maximum amount of bonds to be issued, which shall,
including all bonds previously issued and remaining unpaid, in
no case exceed an amount in excess of ten per cent. of the total
taxable value at the time in the county in which the road or
roads are 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
preceding regular November election and tnose who may have
come of age and registered since said preceding regular Novem-
ber election, except those who by commission of crime or re-
moval from the district or county have disqualified themselves
to vote.

Sec. 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, county and district tax in
such county, including such property located or the situs of
which for purposes of taxation is within the limits of any in-
corporated town situated within such county, to pay interest
on the bonds so issued, and to create a sinking fund to redeem
the principal thereof at maturity; and in addition an annual
levy at a rate to yield a sum equal to but not less than three per
centum of the amount of bonds issued in any year, or in lieu
thereof, an amount equal to the amount raised from said addi-
tional levy may be set aside by the board of supervisors from
other funds of the county, or may be raised by other means now
provided for by law, which sum shall be expended under the
direction of the State highway commissioner and the local road
authorities county road board in the maintenance upkeep of the
roads constructed and improved hereunder, and from year to
year said levy or assessment shall be made until the debt and in-
terest are paid, which levy shall not exceed ninety cents on the
hundred ($100) dollars of taxable property within the said
county; the amount levied and set apart as a sinking fund and
the interest accruing thereon shall be used for the payment of
the principal of the said bonds, and for no other purpose.

The board of supervisors is hereby authorized and em-
powered to apply any part or all of said sinking fund to the pay-
ment or purchase of any of said bonds at any time, and all
bonds so paid off or purchased by said board of supervisors shall
be immediately canceled, and shall not be reissued; and the board
of supervisors is authorized and empowered to lend out, upon
real estate security, the loan not to exceed fifty per centum of
the assessed value of such real estate, or deposit in bank at in-
terest, all accumulations of money to the credit of said sinking
fund, provided as aforesaid, and to collect and reinvest the same
and the interest accruing thereon from time to time, so often
as may be necessary or expedient, until such bonds shall 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 investment
shall be first approved by the circuit court of said county, or the
judge thereof in vacation, and the form of the security be ex-
amined and approved by the Commonwealth’s attorney of said
county, which approval shall be entered on record in the order
book of the said court.

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