Chap. 10.—An ACT to authorize the board of supervisors of the county
of Tazewell to issue county bonds to an amount not exceeding one
hundred thousand dollars, the proceeds of which shall be expended in
macadamizing or otherwise permanently improving or grading certain
public roads in Jeffersonville magisterial district in said county, and
in constructing bridges thereon. [H B 26]

Approved March 16, 1928.

1. Be it enacted by the general assembly of Virginia, That
the boar] of supervisors of Tazewell county, for the purpose of
MACACA, IAN or otherwise permanently improving or grading
the road) etween the West Virginia line on Dry Fork creek and
Adria, along Dry Fork creek, and for constructing bridges
thereon, sk\1ll issue bonds of Tazewell county for an amount not
exceeding eight-five thousand dollars, the proceeds from the
sale of which shall be used for such purposes and none other;
that the board of supervisors of Tazewell county, for the pur-
pose of macadamizing or otherwise permanently improving the
road from the wiorthern corporate limits of the town of Taze-
well to the southern corporate limits of the town of North Taze-
well, shall issue vonds of Tazewell county for an amount not
exceeding fifteen thousand dollars, the proceeds therefrom to be
used for such purp»se and none other; provided, however, if
said road between se:'d corporate limits shall within two months
from the passage of this act become a part of the State highway
system, then only in such event, said proceeds may be used for
the purpose of improving the road from the forks of the road
near the foot of the jump to Adria.

2. The board of supervisors of Tazewell county may ap-
point an agent or agents to seh} 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 such a sale of bonds has been negotiated, the
board of supervisors shall issue the same. Such bonds may be
either registered or with coupons attached as said board of
supervisors may prescribe, and shall have written or printed in
‘ink the following sentence: “These bonds are issued for road
improvement in Jeffersonville magisterial district, but the full
faith and credit of the entire county of Tazewell is hereby
pledged for their 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.” Such bonds shall be signed by the chair-
man 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 on the first
day of December and June of each year at the office of the
treasurer of said county, and shall be payable not exceeding
thirty years from the date thereof at said office, but may, in the
discretion of the said board be made payable or redeemable at
such time or times within said thirty years 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 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. The said treasurer shall receive, as compensation for his
services hereunder, not exceeding one-fourth of one per centum
of the amount thus coming into his hands, and also the reason-
able 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 of said funds.

3. After issuing such bonds, or any of them, when the next
levy is laid or tax imposed in said county, a tax shall be levied
on all property liable to county or district tax in said Jefferson-
ville district, including such property located or the situs of
which for taxation is, within the limits of any incorporated
town situated within such district, 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
shall be made until the debt and interest are paid, and amount
levied for and set apart as a sinking fund shall be used for the
- payment of the principal and interest of said bonds, and for no
other purpose.

Should for any reason the county in any way have to assume
any payment on account of said bond issue, either interest or
principal, it is hereby provided that the board of supervisors
shall levy such tax in said magisterial district as may be neces-
sary to defray the amount assumed by the county, it being in-
tended that bonds issued, or to be issued, under this act are
county obligations, but payable primarily out of levies upon the
property in the said Jeffersonville magisterial district, where
the proceeds of the bonds are to be expended hereunder.
4. - The board of supervisors is hereby. authorized and em-.
powered to apply any part or all of said sinking fund to the
payment 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 cancelled, and shall not be reissued.

5. When the said county wishes to redeem any of its out-
standing bonds subject to call, issued under the provisions of
this act, it may, through the chairman of the board of super-
visors, give notice of its readiness to do so to the holder in per-
son 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 amount of such 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 notice, or the completion of the publication
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.

6. The said board of supervisors shall have the right to
use the funds derived from the sale of said bonds for the pur-
pose hereinbefore specified independently of the State highway
commissioner or the State highway commission, and for said
purposes may employ such engineers as it chooses and may
either let said work to contract or cause it to be performed in
such other manner as it may choose; or said board of super-
visors may expend the funds derived from the sale of said
bonds, or any part thereof, in the macadamizing, permanent
improvement, or improvement of said roads, or any or all of
them, under such supervision or control of the State highway
commission, or the State highway commissioner, as will entitle
said county to receive the benefit of State aid funds for the
money to be so expended.

7. An emergency existing, this act shall be in force from its
passage.