Chap. 181.—An ACT to incorporate the Farmville Water company.

Approved May 10, 1887.

1. Be it enacted by the general assembly of the State of
Virginia, That A. R. Venable, Junior, W. G. Dunnington, A.
D. Watkins, W. G. Venable, Paulus A. Aming, and B. S.
Hooper, of Prince Edward county, and such other persons as
they may associate with them and their successors, are hereby
created a body corporate and politic under the name and
style of the Farmville water company, and by that name may
sue and be sued, contract and be contracted with, plead and
be 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
incorporated, and which it is authorized to effect, are to con-
struct on any plan they may approve, reservoirs, force pumps,
engines, and any and all fixtures and appurtenances neccs-
sary therefor, and the laying of pipes, main and lateral, to
convey water from Bass’s mill pond, Little Buffalo river, or
from springs or branches, or bored wells or any available
source to the town of Farmville, and through the various
streets thereof, with the legal consent of the authorities of
the town, or to any other points desired. And for these pur-
poses said company shall bave all the rights, privileges, and
franchises needed to carry them into effect.

3. The said company is authorized to contract and agree
with the owners of land in Prince Edward county, for the
use or purchase thereof for the location of their works or
reservoirs, or for the right of way for Jaying pipe lines, or for
the use or purchase of water of springs or branches, wholly
or in part within each farm, in order to obtain a sufficient
supply of pure water, and in case of a disagreement, or if the
owner thercof 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 sub-
ject to all the rules, regulations, and restrictions imposed by
the tifty-sixth chapter ot the Code of Virginia, eighteen bun-
dred and seventy-three, so far as the same may be applicable
and not inconsistent with this act, but said company shall
not purchase, in fee simple, land to exceed in value ten thou-
sand dollars.

4, The capital stock of the company shall not be less than
five thousand dollars nor more than fifty thousand dollars,
divided into shares of one hundred dollars each, and the
directors, with the consent of a majority of the stockholders,
may increase the stock within these limits.

5. There shall be six directors for the said company, who
shall be elected@ annually by the stockholders, one of whom
shall be chosen by the others as president, and another as
vice-president, and the president and directors shall appoint
all officers and agents and employees, and fix their compen-
sation: provided “that for the first twelve months after the
passage of this act, and until their successors be elected and
qualitied, the corporators above named shall be the directors
of said company.

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

7. It shall be lawful for the said company to sell and dis-
pose of its water to the citizens of the town of Farmville, or
to other persons or corporators, or to the town of Farmville
for such time and on such terms as may be deemed best for
the interest of said company, and the town of Farmville is
hereby authorized to contract with said company for the use
of its water for extinguishing fires or other public uses, and
also to subscribe for the stock of said company, and if desired,
pay for the same in the bonds of the town on such terms as
may be agreed upon; and also, if deemed necessary, to en-
dorse the bonds of the said company to the amount of thirty-
five thousand dollars, to aid and facilitate the construction of
the works; und to this end the mayor, when authorized so
to do by the town council in their discretion, when applied
to by the president of said company, may cause a vote of the
qualitied voters of the town of Farmville, after a notice of
thirty days has been given; and w henever such vote may
have been taken, und if it shall appear by the returns thereof
that two-thirds of the qualified voters voting upon the ques-
tion are in favor of cither purchasing the water of said com-
pany, or subscribing for the stock, or endorsing its bonds,
which majority of the qualified voters must include a majority
of the freeholders voting, then the mayor and council shall
make all necessary preparations and carry out the wish of
the people, and shall levy and collect a tax sufficient to pay
for the use of the water as may be agreed upon with the said
company.

8. It sball be lawful for the town of Farmville to contract
with said company to collect its water rents and to make all
laws and ordinances necessary for this purpose, and receive
such proportion of the same as may be agreed upon to be
applied to the payment of the water rent contracted for the
town.

9. First. All acts and parts of acts in conflict with this act
are hereby repealed. _

Second. This act shall be in force from its passage, but
shall become void if the company shall pay its taxes in any
manner except in lawful money of the United States.