Chap. 677.—An ACT to authorize the board of supervisors of Pu-
laski county to issue bonds for the purpose of building and re-
pairing the public roads in said county.

Approved March 8, 1892.

1. Be it enacted by ‘the general assembly of Virginia,
That it shall be lawful for the board of supervisors of the
county of Pulaski, by order entered of record, to submit to
the qualified voters of said county whether or not the
bonds of said county shall be issued for the purpose of
raising funds to be applied to the building or improvement
of the public roads of said county.

2. Such vote shall be taken after at least thirty days’
notice at any general or special election held in said coun-

; the ballots used at such election shall be “For road
bonds,” and “Against road bonds,” and such election
shall be held and certified in the mode prescribed by law
for holding and certifying elections under the laws of this
state, except that the election returns shall be made to the
board of supervisors, who shall canvass the returns and
ascertain the result and spread the same upon the records
of the board.

3. Said board, in submitting said question, shall state
in its order the aggregate amount for which the bonds of
the county are proposed to be issued, which shall also be
stated in the notice for such election.

4. If a majority of the qualified voters of said county
voting on the question shal! be in favor of the issuance of
said bonds, then if shall be the duty of said board of su-
pervisors to issue the bonds of said county of Pulaski, in
such denomination and payable at such times and at such
place in Pulaski county as said board shall determine,
said bonds to bear interest at a rate not exceeding six per
centum, and may be for any aggregate amount, not ex-
ceeding, however, the aggregate amount stated in the or-
der submitting said question to a vote as aforesaid.

5. Said bonds shall be signed by the chairman of the
board of supervisors and countersigned by the clerk of the
board, with the seal of the board attached; the said board
shall sell said bonds at not less than par, and shall have
power to appoint an agent or agents therefor and provide
for his compensation; but the bonds when issued shall be
placed in one of the banks in said county, and shall only
be delivered to the purchaser upon the receipt by such bank
of the purchase-money therefor.

6. The proceeds arising from the sale of said bonds shall
be applied to the building and repair of the public roads
of said county, in such manner as said board of super-
visors shall direct, taking care that the same be equitably
and fairly distributed amongst the several magisterial
districts in said county. The board shall have power,
and it shall be the duty of said board to take bonds, with
approved security and in sufficient penalties, from all per-
sons and agents entrusted with said funds, to the end
that said funds shall be at all times amply protected; and
the board shall annually, at its July meeting, cause a full
statement of the funds arising under this act for the pre-
ceding year, to be spread upon the records of the board.
7. The said board of supervisors shall annually levy on
the real and personal property of said county an amount
sufficient to pay the interest on said bonds and to provide
a sinking fund sufficient to extinguish such bonds at their
maturity, which levy shall be collected by the county
treasurer as other county levies are collected, and the said
treasurer shall account therefor in such manner as the
said board shal! direct.

8. Said county treasurer, before collecting said levies,
shall execute before said board of supervisors a bond,
with approved security, in a penalty double the amount
which will go into his hands under this act, and condi-
tional to faithfully perform his duties under this act:
provided that the statement in writing of said treasurer,
and his sureties on his official bond as treasurer, agreeing
that the said official bond shall cover the liability of said
treasurer under this act, may be accepted by said board
in lieu of a bond, and thereafter such official bond of such
treasurer shall be held conclusively to cover all funds
mentioned in this act.

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