Chap. 183.—An ACT to authorize the board of supervisors of Roanoke county,
the councils of Roanoke city and of the town of Salem to adjust and deter-
mine the amounts which said county, city, and town shall respectively assume
and pay on account of any liability arising from any subscription which may
have been or may be made or authorized by the county of Roanoke to the
capital stock of the Valley railroad company, and to provide for the payment
of the same.
Approved February 9, 1894.

1. Be it enacted by the general assembly of Virginia, That it
hall be lawful for the board of supervisors of Roanoke county, and
or the council of Roanoke city and the council of the town of Salem
0 adjust, determine and fix by agreement, to be approved by said
oard of supervisors and said councils, the amounts, shares and
ortions of any liability which may exist or arise, or be ascertained
Oexist on account of any subscription made, or authorized to be
nade, by the county of Roanoke to the capital stock of the Valley
ailroad company, which shall be assumed and borne by said county,
ity and town, respectively. ;

And it shal] be lawful for the board of supervisors of the county
f Roanoke, for the purpose of discharging and paying such share of
aid liability as may be thus assumed, on behalf of said county, to
ssue coupon bonds of said county for an amount equivalent to said
hare of said liability assumed by said county, bearing interest at
1X per centum per annum, payable semi-annually, the principal
ayable not less than twenty years after date, but to be redeemable
at any time at the pleasure of the county, and to cause the same to
be delivered to the proper authorities of the Valley railroad company,
upon such terms and conditions as may be agreed upon by and be-
tween the board of supervisors of Roanoke county and the gaid au-
thorities of said railroad company.

And it shall be lawful for the council of said city of Roanoke, on
behalf of said city, for the purpose of discharging and paying such
share of said liability as may be thus assumed by said city, to cause
to be issued coupon bonds of said city in an amount equal to the
share of said liability so assumed by said city, bearing interest at
B1x per centum per annum, payable semi-annually, the principal to
be payable not less than twenty years after date, but to be redeema-
ble at any time at the pleasure of said city, and to cause the same
to be delivered to the proper authorities of the Valley railroad com-
pany, upon such terms and conditions as may be agreed upon between
said council of the city of Roanoke and the said authorities of said
Valley railroad company.

And it shall be lawful for the council of the town of Salem, for
the purpose of discharging and paying its share of said liability
thus assumed, to cause to be issued coupon bonds of the town of
Salem in an amount equal to the share of said liability thus assumed
for said town, bearing interest at six per centum per annum, payable
semi-annually, the principal to be payable not less than twenty
years after date, and to be redeemable at any time at the pleasure of
said town, and to cause the said bonds to be delivered to the proper
authorities of the Valley railroad company, upon such terms and
conditions as may be agreed upon between said council and the said
Valley railroad company.

Said bonds shall in each case bear such date, be of such form and
of such denominations as may be prescribed by the board of super-
visors of said county and the councils of said city and town in each
case, respectively.

And it shall be the duty of the board of supervisors of Roanoke
county and of the councils of said city and town, from time to time,
to levy taxes upon the taxable property in said county, city and
town, respectively, sufficient to provide promptly for the payment of
the interest upon any bonds which may be issued under this act by
said county, city or town, respectively, and to respectively provide a
sinking fund for the ultimate extinguishment of the principal of
said bonds at or before their maturity.

2. Nothing in this act shall create or impose any liability upon
the said county of Roanoke on account of any subscription made or
alleged to have been made by said county to the capital stock of the
Valley railroad company; but it shall be lawful for the board of
supervisors of said county to adjust, compromise and fix, by agree-
ment with the Valley railroad company, the amount of such lability
on account of the subscription claimed by said company to have
been made by said county to the qapital stock of said railroad com-
pany, which liability is now being controverted in the pending suit
between said county and certain tax-payers of said county and the
said Valley railroad company.

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