Chap. 466.—An ACT to amend and re-enact an act authorizing the qualified voters
of Prince Edward county to vote upon the question of issuing the bonds of said
county to secure money for the purpose of purchasing road machinery and im-
proving the public roads of said county, and authorizing the board of super-
visors to issue the bonds of the county for said purpose, if the vote shall be in
favor thereof, approved March 15, 1902.

Approved December 17, 1903.

1. Be it enacted by the general assembly of Virginia, That an act en-
titled an act authorizing the qualified voters of Prince Edward county to
vote upon the question of issuing the bonds of said county to secure
money for the purpose of purchasing road machinery and improving the
public roads of said county, and authorizing the board of supervisors to
issue the bonds of the county for said purpose, if the vote shall be in
favor thereof, approved March fifteen, nineteen hundred and two, be
amended and re-enacted so as to read as follows:

2. Whenever ten per centum of the qualificd voters of the county of
Prince Edward shall so petition, the circuit court of the county of Prince
Edward, or the judge thereof in vacation, shall direct an election to be
held, submitting to the voters of said county, qualified at the time of such
election to vote for members of the general assembly, the question as to
whether or not the bonds of said county for the sum of one hundred thou-
sand dollars shall be issued, the said bonds to be pavable fifty years after
date, to bear interest at a rate not to exceed five per centum, and not
more than twenty thousand dollars of said bonds to be issued in any one
year; the money derived from the sale of said bonds to be used solely for
the purpose of purchasing road machinery and improving the public roads
of said county. Notice of the said election shall be given by posting a
copy of the order directing the same at each regular voting place in said
county, and at the front door of the courthouse, at least thirty days before
the same is to be held, and in such other manner as the said judge may
direct.

3. Such election shall be held and the returns shall be made and can-
vassed in the manner prescribed by law. The tickets to he used shall he
prepared and distributed by the electoral board of the county, and shai!
have printed on them, inone line, the words, For road improvement: ls
bond issues” and in another line the words, “Against road improvement
and bond issue.” An abstract. of the vole cast at such eleetion, together
with a copy of the findings of the commissioners who canvass said vote,
shall be certified by the clerk of the county court of Prince Edward
county to the judge of said court. If such election be held after Febru-
ary first. nineteen hundred and four, then said abstract of the vote and
copy of the findings of the commissioners shall be certified to the judge
of the circuit court of said county. Said judge, on consideration of said
abstract of vote and findings, either during term or in vacation, if hi
shall be of opinion that at said election a majority of the votes cast were
so cast in favor vf the proposition submitted, shall so declare and so cer-
tify to the board of supervisors.

1. If it shall be so determined that a majority of the votes cast in such
election were in favor of the issue of bonds for read improvement, then
the board of supervisors shall proceed at once to issue the bonds of the
county in the amount specified in the order of court submitting the ques-
tion to a vote of the people.

The said bonds shall be of the denomination of one hundred dollars
cach, or multiples of said sum, and shall be signed by the chairman of
the board of supervisors and the county treasurer, and attested by the
clerk, who shall attach the seal of the said board. "The form of the said
bonds shall be prescribed by the board of supervisors.

6. The said bonds, when issued, shall be disposed of by the board of
supervisors in such manner as it may deem best, but no bond shall be
sold at less than the par value thercof. The said bonds, at maturity, and
all interest coupons when due shall be receivable for all taxes and debts
due to the county of Prince Edward, except school levies.

7. The said bonds and all interest coupons shall be payable at some
hank in the city of Richmond, Virginia, and when so paid shall be
marked paid and cancelled, and shall be exhibited to the board of super-
visors at the time of its next meeting.

8. All moneys realized from the sale of said bonds shall be received by
the treasurer of the said county, and by him deposited in such bank, or
hanks, as the judge of the county court of said county shall, by order en-
tered of record, designate as a special fund, to be known as the read im-
provement fund; and said fund shall be disbursed only upon the check
of the said treasurer, countersigned by the chairman of the board of super-
visors, and shall, under no circumstances, be expended for any purpos:
other than the purchase of road machinery and improving the public
roads of said county. The treasurer shall be allowed as his full compen-
sation for receiving and disbursing said fund one per centum of the
amount for which said bonds shall be sold. The treasurer shall be liable,
on his official bond, for the proper discharge of his duties under this act.

9. The money arising under this act shall be expended by a road com-
mission, to be designated the road commission of Prince Edward county.
and to be composed of the members of the board of supervisors of said
county, together with one discreet frecholder from cach magisterial dis-
trict, to be selected by the board of supervisors. Said road commission
shall appoint an experienced public highway engineer to supervise the
construction of the county roads, purchase all necessary road machinery,
fix the prices of labor and materials, and do all other things necessary to
carry out the objects of this act.

10. The said board shall also provide a sinking fund by a levy, from
year to year, not exceeding ten cents on the one hundred dollars of tax-
able property in said county. The money so derived, together with any
other money which shall be paid to him for the purpose, shall be de-
posited by the treasurer in such bank, or banks, as the judge of the cir-
cuit court of said county shall, by order entered of record, designate as a
special fund, to be known as “the sinking fund,” subject to the order. of
the sinking fund commissioners hereinafter provided for.

11. The Commonwealth’s attorney of the county, the treasurer of the
county, and the chairman of the board of supervisors shall, ex-officio,
compose the board of sinking fund commissioners, which board shall be
intrusted with the duty of investing, from time to time, any money that
may be deposited to its credit in the sinking fund, taking such security
therefor as may be approved by two of their number. Such money shall
not at any time be loaned to the county, but the said board may, if it shall
deem advisable, purchase and retire, from time to time, the bonds of the
county issued under this act. It shall be the duty of the board to see that
the provisions of this act with reference to the sinking fund are strictly
complied with.

12. The board of sinking fund commissioners shall annually make a
report to the board of supervisors, showing what funds are under its con-
trol and how the same are invested. Warrants upon the sinking fund
shall be drawn by the chairman of the board of supervisors and counter-
signed by the attorney for the Commonwealth. It shall be the duty of
the board of sinking fund commissioners to provide for the payment of
said bonds by the treasurer out of the sinking fund as they shall become
due.

13. All acts and parts of acts in conflict with this act are hereby re-
pealed.

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