Chap. 282.—An ACT to Authorize the Revocation of Subscriptions to
the Valley Railroad Company, and the Transfer of the same on Cer-
tain Conditions.

Approved March 29, 1873,

Whereas, great delay has occurred on the part of the Valley
Railroad Company in letting its road to contract, in most of
the counties through which it is entitled to pass, and whereas,
it is unreasonable to hold such counties, cities and towns, as
may have subscribed to the capital stock of said railroad com-
pany, under the expectation or assurance that said road would
be speedily put under contract and completed, bound by their
contracts of subscription for an uncertain and indefinite period
of time, and especially so if they desire, as they may, to aid in
the construction of other works of internal improvement.
Therefore,

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the board of supervisors of any county,
or the council of any city or town, which may have subscribed
to the stocks of the Valley Railroad Company, at any time
after six months from the passage of this act, by a vote of two-
thirds of all members elected to such board or council to make
an order revoking any subscription which such county, city or
town may have heretofore made to the capital stock of said
company. And such county, city or town shall thereafter be
forever discharged and released from any obligation or lability
on account of any such subscription.

2. It shall also be lawful for the board of supervisors of any
such county, at any time after six months from the passage of
this act, by the vote of a majority of all the members elected
to such board, to make an order requesting the judge of the
county court of such county to direct a poll to be opened at
the next general election held in such county, to take the sense
of the voters of such county, upon the question of transfer-
ring such an amount of any subscription which such county
may have made to the stock of such company as may be desig-
nated by said board in said order, to the stock of any railroad
or turnpike company chartered under the laws of this state
for the construction of a railroad or turnpike through such
county. If amajority of three-fifths of all the qualified voters
voting upon the question of such transfer shall be in favor
thereof, the board of supervisors of such county, after being
notified by the judge of the county court of such county of
the result of such vote, may make an order formally transfer-
ring such amount of such subscription to the stock of the rail-
road or turnpike company to which such transfer may have
been so authorized by such vote. And the company to which
such transfer shall be so made shall be thereupon vested with
all the rights in respect to such subscription, and such county
shall be entitled to all the rights appertaining thereto which
would have existed in reference to the Valley Railroad Com-
pany had this act not been passed. The proceedings with re-
ference to ordering and conducting such vote and ascertaining
the result thereof; and the proceedings to be had by such
county, or the board of supervisors thereof, with reference to
the issue of bonds to pay such transferred subscription; the
levies to pay the principal and interest thereof; the selection
of an agent or agents or proxies to represent such county in
the meetings of the stockholders of such railroad or turnpike
company, and all matters necessary to effectuate the purposes
of this act, shall be governed by and in accordance with the
provisions of the act entitled an act to authorize subscriptions
to the stock of incorporated companies by the counties of
Rockingham, Augusta, Rockbridge, Botetourt, Craig and Roan-
oke, and the towns of Harrisonburg, Staunton, Lexington and
Salem, approved June twenty-seventh, eighteen hundred and
seventy.

3. No proceedings which may be taken under this act shall
be construed as rendering valid and binding any subscription
to the capital stock of said company, which might or would
have been held void, if this act had not been passed.
4, In the event that the said Valley Railroad Company shall,
within ten months from the passage of this act, let its whole
line to contract throughout its entire length from Harrison-
burg to Salem, to be completed within three years, from such
letting, and shall also, within twelve months from the passage
of this act, commence the actual construction of its road in
each of the several counties which may have subscribed to its
capital stock, then this act shall not be in force, otherwise this
act shall be in force as from its passage.