Chap. 380.—An ACT to Authorize Subscriptions to the Stock of the Atlan-
tic and Alleghany Railroad Company by the Counties of Chesterfield,
Powhatan, Cumberland, Buckingham, Appomattox, Nelson, Amherst.
Rockbridge, the Cities of Richmond and Lynchburg, and the Towns of
Manchester and Lexington.

Approved November 1, 1870.

1. Be it enacted by the general assembly, That it shall be
lawful tor the county court, or the council or board of trustees
of any of the following counties, cities, or towns, to wit : Ches-
terfield, Powhatan, Cumberland, Buckingham, Appomattox,
Nelson, Amherst, Rockbridge, Richmond, Lynchburg, Man-
chester, Lexington, to make an order requiring the sheriff, or
sergeant and commissioners of election, at a time to be desig-
nated in such order, not less than one month from the date
thereef, to open polls and take the sense of the legal voters of
sach county, city, or town, on the question whether such county,
city, or town shall subscribe to the stock of the Atlantic and
Alleghany railroad company, which has been chartered to con-
struct a railroad through, by, or near such county, city, or
town, and by the construction of which, such county, city, or
town is likely to be benefited. The said order shall state the
maximum amount proposed to be subscribed.

2. The commissioners of election, who, if there be none
otherwise legally appointed, may be designated by such court,
‘council, or board of trustees, after taking an oath faithfully to
discharge the duties of their office, shall open polls at the va-
rious places of voting in such county, city, or town, and at the
time designated in said order, and shall conduct such election
and close the polls as is provided by law in respect to other
elections; and at such election, each of said voters who shall
approve such subscription, shall deposit a ticket or ballot, on
which shall be written or printed the words: “For the sub-
scription ;” and each of said voters who shall be opposed to
such subscription, shall deposit a ticket or ballot, on which
shall be written or printed the words: “ Against the subscrip-
tion.”

3. That immediately after closing the polls, the commission-
ers of election, at the several places of voting in such county,
city, or town, shall count the ballots deposited at such elec-
tion, and shall make return, within ten days after such election,
to the judge of such county court, or to the council or board
of trustees of such city or town, of the number of votes cast
for the subscription and the number of votes cast against the
subscription, and shall also return to and deposit with the clerk
of such court, council, or board of trustees, in separate pack-
ages, the ballots for and against such subscription; and it shall
be the duty of such judge, council, or board of trustees, to
cause the ballots to be counted, to correct the polls, and to as-
certain and certify the result of such election, and to cause the
same to be entered upon the proper record book of such court,
council, or board of trustees. And if it shall appear that three-
fifths of the votes cast at such election are in favor of the sub-
scription, such judge, council, or board of trustees, shall forth-
with enter of record an order requiring thé supervisors of the
county, the members of the council, or the board of trustees,
to meet at atime and place to be designated in the order, to
carry out the wishes of said voters. The sheriff or sergeant
shall promptly summon the supervisors, councilmen, or mem-
bers of the board of trustees, in pursuance of said order.

4. If a majority of the whole number of supervisors, coun-
cilmen, or trustees, be present at the time and place so desig-
nated, they shall proceed to act; if not, they shall adjourn from
time to time until a majority are present. The said supervi-
sors, councilmen, or trustees. a majority of the whole number
being present, shall have power to determine what amonunt of
the capital stock, not exceeding the maximum aforesaid, shall
be subscribed for on behalf of the county, city, or town, and
shall enter of record the amount so agreed to be subscribed ;
and thereupon, shall appoint an agent or agents to make the
subscription, which shall be paid in such instalments as may be
agreed upon by such board of supervisors, council, or board of
trustees, or as may be called for by the company.

5. For the purpose of paying the quotas on said stock as
they may be called for, or the instalments of such subscription
as they may fall due, the board of supervisors of the county,
or the council. or the board of trustees of the city or town,
shall bave power to appoint an agent or agents to negotiate a
loan or loans, and to issue bonds to secure the same, for and in
the name of such county, city, or town. Said bonds may be
either registered or with coupons, as said board of supervisors,
council, or board of trustees, may prescribe; and at the time
at which the board of supervisors, council, or board of trus-
tees makes its levy for such county, city, or town, it shall levy
on all the Jands and other subjects liable to state tax and county
or corporation levy in such county, city, or town, such tax to
pay the amount of such subscription, or of such loan or loans
as may be authorized, and the interest thereon, or to pay the
interest on the bonds of the county, city, or town so issued,
and to create a sinking fund to redeem the principal thereof,
as said board of supervisors, council, or board of trustees may
deem necessary or proper; and from year to year it shall re-
peat such assessments until the debt and interest be fully paid.

ut such levy for a year shall not exceed one-twentieth of the
whole amount of such subscription and the interest thereon;
and such bonds shall be irredeemable for twenty years, and, at
the pleasure of the board of supervisors, council, hoard of
trustees, or proper authorities of the county, city, or town,
for a period not exceeding thirty years from the date of the
same.

6. The right to stock in the said incorporated company, sub-
scribed by either of said counties, cities, or towns under the
authority of this act, shall vest in such county, city, or town;
and the board of supervisors of such county, or the council or
other proper authorities of such city or town, shall have power
from time to time to appoint proxies to represent the stock in
the meetings of the stockholders of the company, and also an
agent to collect the dividends on its stock, which dividends,
when collected, shall be applied annually in diminution of the
county, city, or town levy.

7. All acts and parts of acts inconsistent with the provisions
of this act are hereby repealed. -

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