Chap. 278.—An ACT to authorize county subscriptions to the capital
stock of Charleston, Cincinnati and Chicago railroad company.

Approved February 29, 1888.

Whereas it is proposed by the Charleston, Cincinnati and
Chicago railroad company to construct its line, or some
branch thereof, into or through the counties of Dickenson,
Wise, Russell, Buchanan, and Lee, or some of them, in this
state; therefore,

1. Be it enacted by the general assembly of Virginia, That
any of the counties aforesaid may subscribe to the capital
stock of said company, and to this end it shall be the duty of
the county court of any such county, or the judge thereof in
vacation, on the application of the president or general man-
ager of said company, stating the amount of subscription
asked for, and specifying the route upon or near which it is
proposed to construct such railroad in such county, accompa-
nied by a petition of not less than twenty of the citizens of
such county approving such application, to provide by proper
order of said court, or judge, when the court is not in ses-
sion, for taking a vote of the qualified voters of such county
for or against such subscription, at the next general election
to be held in said county, or at a special election to be
ordered by the county court of such county, or the judge
thereof when said court is not in session, as may be requested
by said company and designated in such order. It shall be
lawful for any of said counties to make such subscription

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under this act to the amount asked for in such application
and petition: provided the same shall not exceed one hun-
dred thousand dollars for any one of said counties. Any
such subscription shall be valid, notwithstanding any restric-
tion contained in the general laws of the state.

2. Such order shall be made, and notice thereof shall be |
given, by the sheriff of said county, by publication at the’
front door of the court-house of the county, and otherwise, if
the court or judge shall so direct, for at least thirty days
before the taking of such vote.

3. The court or judge thereof shall designate, in such
order, the commissioners and other officers who are to con- |
duct such election and superintend the taking of such vote
and making proper returns thereof. Such returns shall be
made to the judge of such court on the second day after such
election, and thereupon the said judge, together with the
clerk of said court, shall carefully examine said returns and
ascertain the result of said vote, and shall cause the same to
be entered upon the record book of said court at the ensuing
term thereof, and if it shall appear from said returns that
three-fifths of the qualified voters voting on the question,
and a majority of the freeholders voting on the question, and
a majority equal to a majority of all the votes cast at the last
preceding general election shall be in favor of the subscrip-
tion, the judge of said court shall enter of record an order
requiring such subscription to be made by some agent whom
he shall appoint and designate therefor.

4. And such subscription shall be payable in the bonds of :
such county, bearing interest at the rate of six per centum,
payable semi-annually, and shall be received by the said rail-
road company at their par value, in payment of such sub-
scription to the capital stock of said railroad company, and
when the said railroad company shall notify the chairman of
the board of supervisors of said county so voting, that the
said railroad company has accepted the said subscription to
the capital stock aforesaid, then it shall be the duty of the
said board to subscribe the sum specified and voted to the
capital stock of the aforesaid railroad company, and to at
once cause the said bonds so subscribed to be engraved and
executed, and to have the same deposited with a trustee, who
shall be acceptable alike to the said railroad company and the
said board of supervisors; but it is expressly provided that
said bonds shall not commence to bear interest until delivered
by said trustee to said railroad company, and said bonds shall
not be delivered to said railroad company by said trustee
except in the following manner and upon the following con-
ditions: The bonds representing the sum subscribed shall be
delivered to said railroad company in pro rata parts as near
as may be, as sections of tive miles of said road proposed to
be built within said county are constructed and completed,
with rails laid and ready for use, and not otherwise. It shall
be the duty of the board of supervisors of any county in
which a subscription is made under this act, and such board
of supervisors are hereby authorized and required to levy and
collect a tax sufficient to pay the interest and to provide a
sinking fund to liquidate the principal of said bonds when
due: provided however, that if any or all the bonds sub-
scribed by any county be not taken up by the said company
pursuant to the terms of the subscriptions within five years
after they shall have been placed in the hands of such trus-
tee, then any such bonds so remaining in his hands at the
end of such five years, shall be cancelled and returned to the
board of supervisors of the county issuing them: and pro-
vided further, that no subscription by the county of Buchanan
shall exceed such an amount as would require an annual
county levy of more than thirty cents on the one hundred
dollars to meet the interest on the same.
5. This act shall be in force from its passage.