Chap. 240.—An ACT to amend and re-enact sections 7 and 17 of an act ap-
proved February 20, 1892, in relation to the settlement of the public debt
of Virginia, as amended and re-enacted by an act approved January 235.
1898, extending the time for the funding of the outstanding evidences of
debt due by the commonwealth not heretofore funded under the acts ap-
proved February 14, 1882, and February 20, 1892, as amended.

Approved February 3, 1900.

1. Be it enacted by the general assembly of Virginia, That sections
seven and seventeen of the act approved February twentieth, eighteen
hundred and ninety-two, entitled an act to provide for the settlement
of the publie debt of Virginia not funded under the provisions of an act
entitled an act to ascertain and declare Virginia’s equitable share of the
debt created before and actually existing at the time of the partition of
her territory and resources, and to provide for the issuance of bonds
covering the same, and the regular and prompt payment of interest
thereon, approved February fourteenth, eishteen hundred and eighty-
two, as amended and re-enacted by an act approved January twenty-fifth,
el iehteen hundred and ninety-two, in relation to the public debt of Vir-
ginia, extending the time for the funding of certain outstanding evi-
dences of debt due hy the commonwealth, be amended and re-enacted
so as to read as follows:

§ 7. The commissioners of the sinking fund are hereby authorized
and required to receive on deposit for verification, classification, and
exchange such of the said obligations of the state as may be presented
to said commissioners; the said verification and exchange for the new
bonds of the obligations so deposited to be conducted in the same man-
ner as hereinbefore provided, with respect to the obligations deposited
with the said bondholders’ committee; and the said commissioners of
the sinking fund shall issue to and distribute amongst said depositing
creditors, after they have fully complied with the terms of this act, in
exchange for the obligations so deposited, bonds authorized by this act,
as follows—namely: To cach of the several classes of said depositing
creditors the same proportion as the same class receive under the distri-
bution made bv the commission for the creditors represented by the
bondholders’ committee: provided, that no obligations shall be received
for such deposit after the thirtieth dav of June, nineteen hundred, nor
shall anv coupon bonds he received which do not have attached thereto
all the coupons maturing after July first, eighteen hundred and ninetv-
one; but for any such coupons as may be missing, coupons of like class
and amount, or the face value thereof in cash, may be received; the said
cash, if paid, to be returned if proper coupons are tendered within sixtv
davs thereafter: and each depositor shall, when he receives his dis-
tributive share of the said new issue of bonds, pay to the commissioners
of the sinking fund three and one-half per centum in cash of the par
value of the bonds received by him, and said sinking fund commissioners
shall cover the fund thus received into the treasury of the common-
wealth.

81%. The commissioners of the sinking fund are authorized, if it
shall seem to them for the best interest of the commonwealth, to make
one extension of the time for the funding of the outstanding evidences
of debt due by the commonwealth not heretofore funded under said act
of February fourteenth, eighteen hundred and eighty-two, and Feb-
ruary twentieth, eighteen hundred and ninety-two, for a period not
extending beyond December thirty-first, nineteen hundred.

2. All bonds issued under the provisions of this act shall carry interest
from the semi-annual period next preceding the date of funding.

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