CHAP. 214.—An ACT toincorporate the Clifton Forge electric light
and power company.

Approved February 17, 1890.

1. Be it enacted by the general assembly of Virginia,
That W. C. Moody, C. E. Wortham, junior, G. K. Ander-
son, E. M. Nettleton, W. M. McAllister, M. H. McClintic,
James W. Taylor, and such other persons as they may as-
sociate with them, and their successors, are hereby created
a body corporate and politic under the name and style of
the Clifton Forge electric light and power company, and
by that name may sue and be sued, contract and be con-
tracted 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 é¢nd regulations
for the government of said company not inconsistent with
the laws of the state of Virginia.

2. The said company shall have the right to locate its
plant, and also the right to locate its polls and wires in,
along and through such streets and alleys of the town of
Clifton Forge and elsewhere in the counties of Alleghany,
Bath and Botetourt, or any or either of them, as may be
necessary for the purpose of said company in furnishing
light or motor power to the town of Clifton Forge or the
citizens of said town, or to other towns and citizens in said
counties; and said company, in locating such polls and
wires in, along and through said streets and alleys, roads
and highways of said towns and counties, shall be subject
to the direction of the legally constituted authorities with-
in their jurisdiction, and said company shall not, by such
location or otherwise, in any manner interfere with the free
use of said streets and alleys, roads and highways by the
public. ;

3. The purposes for which said company are incorpora-
ted are the furnishing by electricity of light and all kinds
of motor power to the town of Clifton Forge, to the citizens
thereof, and to other corporations or persons in the coun-
ties aforesaid or elsewhere, and it shall be lawful for said
company to dispose of its electricity at such rates as may
be agreed upon by the parties.

4, The capital stock of said Clifton Forge electric light
and power company shall not exceed six hundred thousand
dollars, to be divided into shares of one hundred dollars
each. Each share subscribed shall be entitled to one vote
in all meetings of the stockholders, and five thousand dol-
lars shall be the minimum subscription on which said com-
pany may be organized.

5. A majority of the incorporators hereinbefore named
may organize the company by electing a president and
board of directors, and may elect and appoint such officers
as may be necessary or proper for the operation of said
company’s affairs, and thereupon the said company shal]
have and exercise all the general powers and functions of
a corporation, and be subject to all the restrictions im-
posed by the laws of the state, and applicable to chartered
companies, except as far as the same may be changed or
modified by this act.

6. The directors shall have power to issue bonds, the
principal and interest of which shall be payable at such
times and places as the board of directors may determine.

7. The principal office of said company shall be at Clif-
ton Forge, in the state of Virginia, and said company may
purchase and hold all real and personal property which
may be necessary for the transaction of its business.

‘8. It shall.be lawful for said company to borrow money
and issue and sell its bonds from time to time for such
sum and on such terms as its board of directors may deem
expedient and proper in the prosecution of any of its work,
and may secure the payment of said bonds by mortgages
or deeds of trust upon all or any portion of its property,
real or personal.

9. No stockholder in said company shall be held liable
or made responsible for its debts and liabilities in a larger
or further sum than the amount of any unpaid balance
due to the said company for stock subscribed for by said
stockholders.

10. All taxes, debts or demands due or to become due
by this company to the state of Virginia shall be paid in
lawful currency of the United State and not in coupons.
-. 11. This act shall be in force from its passage.