CHAP. 67.—An ACT to provide for the issuing of county bonds for per-
manent road or bridge improvement in the magisterial districts of
the county of Princess Anne, [H B 85]

Approved September 9, 1919.

1. Be it enacted by the general assembly of Virginia, That
bonds 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
hereinafter provided. The circuit court of said county, upon the
petition of fifty freeholders of any magisterial district or dis-
tricts 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 designated 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 per-
manently 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 lie, stating as nearly a 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 ho case,
together with any bonds previously issued on behalf of any dis-
trict 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 pro-
posed to be built or permanently improved. The qualified voters
at any special election held under this act, until otherwise pro-
vided 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
authorizing 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 qualified voter
who shall oppose such issue of bonds.shall deposit a ticket or
ballot whereon shall be written or printed the words, “against
bond issue.” The judges of election at the several voting places
shall immediately after the closing of the polls at each of the
said places, count the ballots deposited, 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 dis-
charge 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 tern:, 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 elec-
tion.

5. The board of supervisors, at their meeting, or as soon
thereafter as practicable, shall determine what amount of bonds
for road improvement in said district or districts, not exceeding
the maximum aforesaid, shall presently be issued, and shall enter
of record the amounts so determined, and in event they do not at
said meeting direct the present issuing of all the said bonds,
they may thereafter, from time to time, direct the residue there-
of 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 aiithorized
to be issued, the circuit court of the county may, upon the com-
plaint 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 voters from
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 the coupons
attached as said board of supervisors may prescribe, and
shall have written or printed in each the following sent-
ences: “These bonds are issued for. road improvement in
Scene eee eee eee eens magisterial district, but the full faith
of the entirecounty of................06. is hereby pledged
for that payment, and a tax is 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 mul-
tiple 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, he made redeemable at such
time or times or after such period or periods and upon such no-
tice 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 pur-
chasers 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 funds shall be expended for the purpose and in
the magisterial district or districts for which it was intended,
and none other. The said treasurer shall receive as compensa-
tion 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 additional 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 super-
visors of such county may direct the treasurer to deposit the pro-
ceeds 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 in-
terest accrued therefrom shall be accounted for by said treasurer
and be expended for the purposes of the said road improvement,
and, insofar as not necessary for said road improvement, shall
be covered into the sinking fund for the payment of the prin-
cipal of said bonds as provided in section six.

6. 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 assess-
ment shall be made until the debt and interest are paid, which
levy shall not exceed one dollar and fifty cents on the one hun-
dred dollars of taxable property within the said magisterial dis-
trict of said county; the amount levied and set apart as a sink-
ing fund, and the interest accruing thereon shall be used for the
payment of the principal of said bonds, and for no other purpose.

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
canceled, and shall not be re-issued, and the board of supervisors
are authorized and empowered to lend out, upon real estate se-
curity, the loan not to exceed fifty per centum of the assessed
value of such real estate or deposits in bank at interest or ac-
cumulations of money to the credit of said sinking fund; pro-
vided, 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 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 super-
visors unless said loan, deposit or investment shall be first ap-
proved by the circuit court of said county, or the judge thereof
in vacation, and the form of the security be examined and ap-
proved by the Commonwealth’s attorney, which approval shall
be entered of record in the order book of said court.

7. When the said county wishes to redeem any of its out-
standing bonds, subject to call, issued under the provision of this
act, it may, through the chairman of the board of supervisors,
give notice of the readiness to do so to the holder in person or
by publication thereof once a week for two successive weeks in
a newspaper published in said county or nearest thereto. It shall
be sufficient in the notice to give the number and the amount of
each bond, and fix a day for its presentation for payment, which
will not be less than ten days from the date of personal service
of the notice, or the completion thereof, as the case may be. If
the bond be not presented on the day fixed for its redemption,
interest thereon shall cease from that day.

8. Local road authorities of the county shall apply to the
State highway commission for, or shall employ a competent road
engineer, whose selection shall be approved by the State high-
way commissioner, to make plans and specifications of all roads
or bridges to be built or permanently improved from the pro-
ceeds of said 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 pub-
lic 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 con-
struction of such road according to such plans and specifications.
Such commissioner and road authorities may reject any and all
bids, and, before. entering into any contract 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 proposal shall be ac-
cepted the contractor will furnish the material and perform the
work upon the terms proposed within the time prescribed, and
in accordance with the plans and specifications ; partial paymenits
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 centum of
the contract price shall be retained until ninety days after the
entire work has been accepted and opened to the public.
The said contractor shall conform to all reasonable regula-
tions 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.

9. 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.

10. An emergency existing, in order that the magisterial
districts of the said counties may vote upon the question of
issuing bonds, this act shall be enforced from its passage.

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