Chap. 50.—An ACT Authorizing the Couty of Augusta to Subscribe to the
Stock of the Valley Railroad Company, and of the Shenandoah Valley
Railroad Company.

Approved January 24, 1871.

1. Be it enacted by the general assembly, That it shall be
lawful for the county court of Augusta county to make an
order requiring the sheriff or commissioners of election, at a
time to be designated in such order, not less than one month
from the date thereof, to open polls and take the sense of the
legal voters of said county on the question whether they shall
subscribe to the stock of the Valley railroad company, and of
the Shenandoah valley railroad company, by one joint vote.
The said order shall state the amount proposed to be sub-
scribed, and that of the amount so proposed to be subscribed,
it authorized, not less than two hundred thousand dollars shall
be subscribed to the stock of the Valley railroad company,
and not less than one hundred thousand dollars to the stock of
the Shenandoah valley railroad company; and in case such
order be made by the county court of said county, the legal
voters residing therein shall be entitled to vote upon the ques-
tion, and the taxable subjects in said county shall be assessed.
as hereinafter provided.

2. The commissioners of election, who, if there be none
otherwise legally appointed, may be designated by said court,
alter taking an oath faithfully to discharge the duties of their
office, shall open polis at the various places of voting in said
commEy, and at the time designated in said order, and shall Ccon-
duet said election and close the polls as is provided by law in
respect to other elections; and at said election, each of said
voters who shall approve said subscription, shall deposit a
ticket or ballot on which shall be written or printed the words,
“For the subscription ;” and each of said voters who shall be
opposed to said st abseription, § shall deposit a ticket or ballot
on Which shal! be written or printed the words, “Against the
subscription.”

3, That immediately after the closing of the polls, the com-
missioners of election, at the several places of voting in said

county, shall count the ballots deposited at said election, ar]
shall make retarn, within two days after said election, to the
judge of said county court, of the number of votes cast for the
subscription, and the number of votes cast against the sub-
scription; and shall also return to and deposit with the clers
of such court, in separate packages, the ballots for and ayainst
said subscription : and it shall be the duty of such jadye to
cause the ballots to be counted, to correct the polls, and to
ascertain and certify the result of said election, and to cause
the same to be entered in the proper record book of said
court; and if it shall appear that three fitths of the votes cast
at. said election are in favor of the subscription, the judge cf
said county shall forthwith enter ¢f record an order requiring
the supervisors of the county to meet, ata time and place to
be named in the order, to carry out the wishes of said voters.
The sheriff shall promptly suminon the supervisors, in pur-
snance of said order.

4. If a majority of the whole number of supervisors be pre-
sent at the time and place so designated, they shall proceed to
act; if not, they shall adjourn from day to day until a majo-
rity be present. The said supervisors, a majority of the whole
number being present, shall appoint an agent to make the sub-
scription, in behalf of said county, to the capital stock of the
said companies, to the amount specified in the order under au-
thority of which the said election was held; and the said sub-
scription shall be paid in cash, or in the coupon bonds of said
county at par; the said bonds to be redeemable in not less
than five nor more than twenty years, as such supervisors may
elect, and shall bear interest at the rate of six per centum per
annum, and the matured coupons shall be reccived by the au-
thorities of said county at par, in payment of all county taxes.
levies, or other county obligations.

). At the time at which the board of supervisors makes its
levy for said county, it shall levy on all the lands and other
subjects liable to state tax and county levy in said county, such
tax to pay the amount of such subscription, or of such foan or
loans, as may be authorized, and the interest thereon; or to
pay the interest on the bonds of the county, so issued, and to
create a sinking fund to redeem the principal thereof, as said
board of supervisors may deem necessary or proper; and frora
year to year it shall repeat such assessments until the debt and
interest be fully paid. But such levy for a year shall not ex-
ceed one-twentieth of the whule amount of such subscription,
and the interest thereon. .

6. The right to stock in the said companies, subscribed by
said county of Augusta under the authority of this act, shall
vest in said county; and its board of supervisors shall have
power, from time to time, to appoint proxies to represent the
stock in the meetings of the stockholders of said companies,
and also an agent to collect the dividends on its stock, which
dividends, when collected, shall be applied annually in diminu-
tion of the county levy.

7. In case the judge of the county court of Augusta orders
an election in pursuance of this act, all expenses incurred in
holding the same shall be paid by the railroad companies
named in the order of submission. |

8. This act shall be in force from its passage.