CHAP. 505.—Ap ACT to incorporate the Vinton and Roanoke
Light and Water company.

Approved March 4, 1890.

1. Be it enacted by the general assembly of Virginia,
That M. M. Rogers, J. McD. Smith, W.S. Gooch, H. N. Clax-
ton, W. H. Stoll, W. M. Yager, or such of them as may accept
the provisions of this act, their associates and assigns, be,
and they are hereby, incorporated and made a body poli-
tic and corporate under the name and style of the Vinton
and Roanoke light and water company, and by that name
shall be known in law, and shall, have perpetual succee-
sion, and have power to sue and be sued, plead and be
impleaded, defend and be defended in all courts, whether
in law or equity, and may make and have a common seal,
and alter or renew the same at pleasure, and shall have,
enjoy and exercise all the rights, powers, and privileges
pertaining to corporate bodies and necessary for the pur-
poses of this act, and make by-laws, rules, and regulations
consistent with the existing laws of this state.

2. The capital stock of the said company shall not be less
than ten thousand dollars, and may be increased to any
amount not exceeding two hundred and fifty thousand
dollars, by issue and sale of shares, the par value of
which shall not be less than fifty dollars, from time to
time, under such regulations as the board of directors of
said company shall prescribe, and the directors may re-
ceive lands, interest in lands, water rights, personal prop-
erty, contract rights in payment of aubscriptions to the
capital stock, at such valuation as may be agreed upon
between the directors and the subscribers.

3. The said company is authorized and empowered to
supply water and furnish light, either electric or gas, to
Vinton, Roanoke county, Virginia, and to such persons,
partnerships, and corporations residing or doing business
therein and in the neighborhood thereof as may desire to
use either the water or light, or both; to provide, locate,
purchase, and erect and maintain all works necessary or
proper for introducing water and furnishing light to Vin-
ton and its neighborhood; to purchase, locate, erect, and
maintain buildings, reservoirs, pipes, gas mains, water-
pipes, pipe-lines, poles, and wires for the conveyance and
distribution of water, gas and electricity, and for these
or any of these purposes to purchase, acquire, hold, lease,
sell, and convey lands, interest in lands, rights of way,
easements, water rights, and corporate franchises, contract
rights and privileges.

4. The persons first mentioned in this act, or such of
them as shall accept the provisions thereof, shall consti-
tute the first board of directors of said company, and shall
continue in office until the first meeting of the stockhold-
ers thereof. At such first meeting, and at every annual
meeting, so many directors shall be elected as may be pre-
scribed by the by-laws of said company, who may be
removed by the stockholders at any general meeting; but
unless so removed, shall continue in office until their suc-
cessors shall have been electedand qualified. Each stock-
holder in the company shall, at all meetings or elections,
be entitled to one vote for each share of stock registered
in his name. :

5. The board of directors shall be stockholders of said
company. They shall appoint one of their number presi-
dent, and appoint all the other officers or agents necessary
for the management of the company, and may fill any
vacancy that may occur in said board, unless by removal ;
in which case the vacancy shal! be filled by the stockhold-
ers in general meeting. Whenever the minimum amount
of capital stock herein named shall have been subscribed,
and the board of directors shall have elected a president,
said company shall be considered legally organized, and
may proceed to the transaction of business.

6. The board of directors may establish offices and agen-
cies at such places as they may deem proper; but the
principal office of the said company shall be located at the
city of Roanoke, in Roanoke county, in this state.

7. The annual meeting of the stockholders of the said
company shall be held at their principal office on the first
Wednesday of March of each year, or as soon thereafter
as practicable, and on such other day as the stockholders
may, by resolution adopt in any annual meeting, to take
effect at the next annual meeting, prescribe.

8. The said company shall issue certificates of stock te
the subscribers therefor, in shares of not less than fifty
dollars each, signed by the president and countersigned
by the secretary. Said certificates shall be transferablz
only on the books of the company by the holder, his agent.
or attornev; and any other corporation may subscribe for
and hold the stock of the said company.

9. It shall be lawful for said company to-issue and sel!
its bonds from time to time, as the board of directors mav
deem expedient, and may secure the payment of said
bonds by mortgage or deeds of trust upon its property. or
any part thereof, and upon its corporate franchise: and
it shall be lawful for said company to subscribe for and
hold the stock of any corporation chartered under the laws
of this state.

10. The said company shall, for the purpose of locating.
laying, constructing, preparing, and operating its water-
pipes, gas-pipes, and mains, andelectric wires, and acquiring
the lands and rights of way therefor, be deemed a work of
internal improvement, and acquire by condemnation said
rights of way and lands for the purposes aforesaid, and
may, by purchase, acquire and hold land in any amount
not in excess of one thousand acres.

11. All taxes due by said company to the state of Vir-
ginia shall be paid in money and not in coupons.

12. This act shall be in force from its passage; but the
general assembly of the state of Virginia reserves to itself
the right to modify, alter, or repeal this act at any time
hereafter.