Chap. 78.—An ACT to authorize the city of Winchester to subscribe
to the capital stock of the Martinsburg and Potomac railroad com-

pany.
| Approved February 13, 1877.

1. Be it enacted by tho general assembly, That it shall be
lawful for the common council of the city of Winchester, by
an ordinance, to submit to the qualified voters of the said
city, at the regular election to be held in the month of May,
eighteen hundred and seventy-seven, or at such time as said
council shall prescribe, whether or not the city of Winches-
ter shall subscribe a sum not exceeding thirty thousand dol-
lars to the capital stock of the Martinsburg and Potomac
railroad company: provided, that notice of said election
shall be given by publication, once a week for at least two
successive weeks, in one or more newspapers published in
said city, and said notice shall be signed by the president and
the clerk of said common council.

2. At the election at which said subscription shall be voted
for, voters who vote in favor of the said subscription, shall
have written or printed on their ballots, “for railroad sub-
scription,’ and those voting against the subscription, shall
have written or printed on their ballots, “against railroad
subscription ;” and if it appears that three-fifths of the free-
holders of said city, who are qualified voters of said city,
have voted at said election, and that a majority of those
voting on the question of subscription have voted in favor of
said subscription, then it shall be lawful for the common
council to subscribe, in the name of the city, to the capital
stock of said Martinsburg and Potomac railroad company: a
sam not exceeding the sum of: thirty thousand dollars. The
said subscription shall be submitted to the vote of the peo-
ple as aforesaid, subject to such restrictions, regulations and
conditions, if any, as shall be affixed or attached thereto by
the ordinance so submitting it to the vote of the people.
And said subscription shall not take effect until further action
bad thereon by said common council after said vote is taken ;
and the subscription shall be subject to such restrictions, reg-
ulations and conditions, if any, as shall be imposed and re-
quired by ordinance passed by said common council after the
vote is taken and before the subscription is actually made.

3. In order to enable the said city to pay the amount of
sach subscription as may be made, as hereinbefore provided,
it shall be lawful for the common council to borrow, in the
name of said city of Winchester, such sum or sums of money
asit may deem proper, not exceeding in the aggregate the
sam of thirty thousand dollars, at a rate of interest not ex-
ceeding seven per centum per annum; and for the sum so
lorrowed the said council may cause to be issued registered
or coupon bonds of the city, the interest to be payable semi-
annually, and the principal to be paid at such time or times
as the council shall direct, not exceeding thirty-five years
from their respective dates, and the amount or amounts so
Lorrowed shall not exceed the amount of the aforesaid sub-
scription, and shall be used exclusively in paying said sub-
feription: provided that it shall be lawful for the said city to
pay the whole or any part of the aforesaid subscription in
the bonds of the city hereinbefore authorized to be issued;
the said bonds to be received by the said company at their
per or face value: and provided that in no event shall the

ods issued by virtue of this act exceed in the aggregate
the amount of the said subscription.

4. The common council of the city of Winchester shall
have all the power necessary to carry this act into effect, and
shall have the power to prescribe the mode of conducting
the election, and of ascertaining the votes cast, not inconsis-
tent with this act and the laws and constitution of this state.

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