Chap. 109.—An ACT to incorporate the Portsmouth water company.

Approved February 15, 1879.

1. Be it enacted by the general assembly of the state of
Virginia, That H. R. Worthington and M. Courtright of the
state of New York; Washington Reed, James G. Holladay and
William White of the city of Portsmouth; and J. Cary Weston
and Marshall Parks of the city of Norfolk, and such other per-
sons as they may associate with them, and their successors, are
hereby created a body corporate and politic, under the name
and style of The Portsmouth Water Company, and by that
name may sue and be sued, contract and be contracted with,
plead and pe impleaded in all proper courts and places, have
a common seal, and change the same at pleasure, and make
all necessary by-laws and regulations for the government of
said company, not inconsistent with the laws of the state of
Virginia and of the laws of the United States.

2, The purposes and objects for which said company is in-
corporated, and which it is authorized to effect, are the construc-
tion, on any plan that may be approved, of reservoirs, force-
pumps, engines, and any and all fixtures and appurtenances
necessary therefor, and the laying of pipes, main and lateral,
to convey water from Lake Drummond or from the Dismal Swamp
canal, or from Deep Creek in Norfolk county, with the permis-
sion of the Dismal Swamp canal company, and for this purpose
the said canal company is authorized to grant such permission,
or from such other points as may be deemed most suitable into
the city of Portsmouth, and to the Gosport navy yard and
United States naval hospital, or to such other point or place in
Norfolk county as the government of the United States may
own and desire water to be carried to. And for these purposes
it shall have all the grants, rights, privileges and franchises
necessary to carry into effect the purposes, objects and intents
of said company.

3. The said company is authorized to contract and agree with
the owners of any land in Norfolk county, cr in the counties
adjacent thereto, for the use or purchase thereof, for the con-
venient location of any portion of their works; and in case of
a disagreement, or if the owner thereof be a feme covert, under
age, non compos mentis, out of the state or unknown, the said
company is invested with all the rights, powers and privileges
conferred, and subject to all the rules, regulations and restric-
tions imposed hy the fifty-sixth chapter of the Code of Virginia,
eighteen hundred and seventy-three, so far as the same may be
applicable and not inconsistent with this act.

4. The capital stock of said company shall not exceed five
hundred thousand collars. to be divided into shares of one
hundred dollars eacn.

5. There shall be seven directors for said company, who shall
be elected by the stockholders annually. One of their number
shall be chosen by the others as president, and the president
and directors may appoint all officers, agents and employees,
and fix their compensation: provided that for the first twelve
months after the passage of this charter, and until their suc-
ecssors be duly elected and qualified, the corporators herein
named shall be the directors of said company.

6. The president and directors may issue bonds or certificates
of indebtedness, bearing interest not to exceed seven per centum
per annum, payable semi-annually, and pledge the property and
profits of the company for the payment thereof, and may con-
vert the said bonds or certificates of indebtedness into capital
stock of said company, with the consent of the holders thereof.

7%. It shall be lawful for the said company to sell and dispose
of its water to the city of Portsmouth; to the inhabitants
thereof; to other corporations or persons; and to the govern-
meut of the United States, for such time, In such manner, and
at such rates, as to it shall seem fit for the benefit of said com-
pany.

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