Chap. 113.—An ACT to amend and re-enact sections 7 and 17, as amended by an
act entitled an act to amend and re-enact an act to amend and re-enact sections
7, 17 and 18 of an act approved February 20, Isvz, entitled an act tu provide for
the settlement of the public debt of Virginia not funded, etc.

Approved January 25 18°8.

1. Be it enacted by the general assembly of Virginia, That sections
seven and seventeen of an act entitled ‘An act to amend and re-enact
an act entitled an act to amend and re-enact sections seven, seventeen
and eighteen of an act, approved February twenticth, eighteen hundred
and ninety-two, entitled an act to provide for the se ttlement. of the pub-
lic debt of Virginia, not funded under the provisions of an act to axcer-
tain and declare Virginia’s equitable share of the debt created before and
actually existing at the time of the partition of her territory and re-
sources, and to provide for the issuance of bonds covering the same, and
the regular and prompt payment of interest thereon, approved February
fourteenth, eighteen hundred and ninety-two, and to provide for carry-
ing the same into effect, approved January thirty-first, eighteen hundred
and ninety-four,’’ and providing the time for which bonds issued under
this act after March thirty-first, eighteen hundred and ninety-six, shall

interest, and section three of said act, approved January twenty-
third, eighteen hundred and ninety-six, to be amended and re-enacted
so as to read as follows:

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$7. The commissioners of the sinking fund are hereby authorized and
required to receive on deposit for verifieation, classification and exchange
such of the said obligations of state as may be presented to said) com-
missioners; the said verification and exchange for the new bonds of the
obhig nitions so de ‘posited to be conducted) im the same manner as herein-
before provided with re spect to the obligations deposited with the said
bondholders’ commuiltee: and the said commissioners of the sinking
fund shall issue to and distribute amongst said depositing creditors,
after they have fully eomphed with the terms of this act In exchange for
the obligations so deposited, bonds authorized by this act, as follows.
namely: To each of the several classes of said depositing creditors the
sumne proportion as the same class receive under the distribution made
by the commissioner for the creditors represented by the bondholders’
conunittee: provided, that no obligations shall be received for such de-
posit after the thirtieth d: ay of June, eighteen hundred and ninety-ceight,
nor shall any coupon bonds be received which do not have att: whed
thereto all the coupons maturing after July first, eighteen hundred and
ninety-one; but for any such coupons as mav be missing coupons of like
class and amount, or the face value thereof in cash, may be received ;
the suid cash, if paid, to be returned if proper coupons are tendered
Within sixty davs thereafter; and each depositor shall, when he receives
his distributive share of the said new issue of bonds, pay to the ecommis-
sioners 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 comuiis-
sioners shall cover the fund thus received into the treasury of the com-
monw ealth.”?

$17. 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 February
twentieth, eighteen hundred and ninety-two, fora period not extending
beyond Dec cmiber thirty-first, eighteen hundred and ninety-eight.

$3. All bonds issued under the provisions of this act shall carry ln-
terest from the semi-annual period next preceding the date of funding.

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