Chap. 139.—An ACT for the relief of the Virginia Military Institute,
and for the protection of the property of the state at said institute.

Approved March 17, 1876.

Whereas, since the year eighteen hundred and sixty-six,
the authorities of the Virginia military institute have added
to the property there held by the state in the institute in
new buildings and land, and in a library, philosophical and
chemical apparatus, the sum of two hundred and fifty thou-
sand dollars, without any aid from the treasury of the state,
and have in this behalf contracted a floating debt of sixty
thousand dollars, which may seriously impair tle usefulness
of this seat of learning and endanger the property of the
state unless promptly provided for; therefore,

1. Be it enacted by the general assembly, That the trea-
surer of the commonwealth of Virginia pay to the superin-
tendent of the Virginia military institute the sum of ten
thousand dollars, annually, on or before the first day of July
of each year, for the period of six years from the passage of
this act, out of any moneys in the treasury not otherwise
appropriated: provided, however, that upon the payment of
each of the said several sums, the superintendent of the Vir-
ginia military institute shall deliver to the commissioners of
the sinking fund the bonds of the Virginia military institute,
for said several sums as they may be paid to him, bearing
six per centum interest payable annually, and secured by
mortgage upon the lands and buildings of the Virginia mili-
tary institute, and made payable twenty-five years from their
respective dates—the said bonds to be placed to the credit of
the sinking fund, and the annual interest as paid, to be in-
vested by the said commissioners as they are now required
by law to invest receipts on account of said fund.

2. Provided, further, that if the claim now before the con-
gress of the United States for compensation for damages by
the federal army in the year eighteen hundred and sixty-
four, be allowed, the money now asked for shall be returned
with interest.

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