Chap. 102.—An ACT to incorporate the Portsmonth and Lake Drummand
and Marine Water Comnany.

Passed April 25, 1957.

1. Be it enacted by the general assembly, That for the
purpose of supplying Portsmouth and the shipping in the
harbor with a copious and never failing stream of pure water
from Lake Drummond, or from such other place as may le
selected, W. Lamb, William T. ILlarrison, A. L. Hill of Ner-
folk, Virginia, I. W. Lemosy, John C. Neaville. L. C. P.
Cowper. Arthur Emmerson, John E. Wilson, W. Reed. Wil-
liam F. Mercer, J. M. Downey of Portsmouth, Virginia, and
such other persons as may be associated with them-.eshall be
and the same are hereby made a body politic and corporate.
under the name and style of The Portsmouth, Lake Drum.
mond and Marine Water,Company; and by that name and
style, be invested with all the powers and privileges eonterred
hy and made subject, however, to all the provisions of the
Code of Virginia, edition of eixhteen handred and sixty. ap:
plicable to.corporations of this character and not inconsistent
with this act.
”, That said company may, by or under its corporate title,
make and use a common seal and sue and be sued, implead
and be impleaded, contract and be contracted with, and make
such by-laws, rules and regulations as may be necessary; may
also make, execute and deliver, or have or cause to be made,
executed and delivered to them, all deeds, transfers, gifts.
urants, conveyances, coyenants, contracts, ayreements and
bargains whatsoever, necessary, advisable, convenient, useful
or required to carry out the purposes, Interests and objects
of the said company. .

3. That the said parties as heretofore named, to wit: W.
ot William T. Harrison, A. T. Hill of Nortoik. Virginia,

‘.W. Lemosy, John C. Neaville, lL. C. P. Cowper. Arthur
cmon John E. Wilson, W. Reed, William I. Mercer,
J. M. Downey of Portsmouth, Virginia, and such other per-
sons as may be associated with them, or such one or more of
them as the others or a majority of them shall, for that pur-
pose, authorize or appoint, may take and receive subscriptions
to the capital stock of said company, on such terms as they
ora majority of them may desivnate or choose, in shares of
one hundred dollars each, to any amount which they may
deem necessary and proper, not exceeding tive thousand
shares; and any person or persons who shall become a holder
or holders, or be entitled to one or more shares of the said
stock, shall thereupon become a member of said company
hereby incorporated; and until an election of officers, which
shall be provided tor by the by-laws, shall be holden in the
city of Portsmouth on the first Tuesday of May in each and
every year. The said company may organize when twenty-
five thousand dollars.of the capital stock is subscribed.

4. That there shall be not less than five nor more than
seven directors, who shall serve twelve months and until
others shall be duly elected to serve. One of their number
shall be chosen to serve as presilent, and the president and
directors may appoint all officers. agents and employees, and
afix their compensation.

». That the purposes and objects for which the Ports-
mouth and Lake Drummond ‘and marine water company
aforesaid is incorporated, and which said company are hereby
authorized to effect, is the construction, on the plan that may
he approved, of reservoirs. force pumps, laying of pipes trom
their work or works, building or buildings as main and late-

ral pipes, from Lake Drummond, Portsmouth and the wharves
Where shipping can be supplied, for the purpose of supplying
the above named places with water; and that they shall have
allthe rights, privileges, franchises ‘and grants necessary to
varry into effect the objects and interests of said: company.

That the said company may hire. purchase, lease and
ther ‘wise hold a suflicient quantity of land at the wharves,
Lake Drummond and elsewhere, and such other points as the
directors may deem advisable or necessary, for the comple-
Hon aud exercise of said company.

That the said company may have the right to lay pipes
throughout the various strects of Portsmouth, so as to be
connected with lateral or branch pipes to be conveyed in
dwellings, buildings of every description, and wherever w
ter may be wanted by citizens and vessels for every varie
of use. Also, they shall have power to use water or stea
power either in Portsmouth, at Lake Drummond, or whe
that kind of power may be wanted.

“8. That the president and directors may issue bonds «
certificates of indebtedness and pledge the property and pri
fits of the company for the payment thereof, and may conve:
the same Bonds or certificates ot indebtedness into capit:
stock of said company, and the bonds may receive the er
dorsement of the corporate authorities, officially given theret:
of the city of Portsmouth.

9. That the said company may make sueh a list of’ price
at which they will serve or supply water to the citizens fo
domestic, mannfacturing and every other purpose that wate
may be used for, régulpling the manner and method as Ik
water companies in other cities at present do; and that th
rates, rules and regulations may be enforced by usual proces
of law, and the charges so made to be considered as othe
debts are consider ed, and are to be recovered (if refused t
be paid) as other debts are recovered, by usual process of law

10. This act shall be in force from its passage, and shall bi
subject to alteration, modification or repeal, at the pleasure
of the general assembly. -

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