Chap. 426.—An ACT to authorize the town council of the town of Gladeville, in
Wise county, todssie bonds im aid of the construction and equipment of the
main line of the Cdadeville railroad company.

Approved February 21, 1898.

1. Be it enacted by the general assembly of Virginia, That it shall
be lawful for the town of of, Gh adeville, in Wise county, to isstte and sell
onds of the said town to aid in the construction and equipment of the
ine of- railroad now graded of the Gladeville railroad company, duly
reanized under an act of the general assembly, approved February
Ww entieth, eivyhteen hundred and ninety-two, entitled ‘An act to incor-
orate the Gladeville railroad company, in Wise county,’ and to turn
ver the proceeds of said bonds to the board of directors of said railroad
‘ompany on such terms and conditions as the said council of the said
own and said railroad company may agree on.

2. The said bonds hereby authorized shall be in such form as the said
‘ouncil of the said town may prescribe; shall be signed by the mayor of
he said town and countersigned by the recorder thereof, and sealed with
he seal of said town; shall “bear a rate of interest not exceeding SIX per
‘entul perannum, payable semi-annually, to be payable not exceeding
hirty vears after date, and redeemable after such time as the said town
ouncil may prescribe. If coupon bonds are ixsued they shall be paya-
»le to bearer, and shall have coupons attached for the semi-annual in-
stalments of interest: provided that no bonds issued under this act shall
2e sold at less than par, and the aggregate amount of bonds issued here-
nuncer shall not exceed six thousand dollars.

The said council, should any such bonds be issued and sold as
hor creinbefore prov ided, shall annually include in the levy upon the pro-
perty and other law ful subjects of taxation in said town as a part of the
annual town levy, a sum and tax sufficient to pay the interest on said
bonds, and in such manner as they may deem best create a sinking fund
sufficient to pay said bonds at or before maturity.

. <All acts and parts of acts inconsistent with this act are hereby re-
pealed.

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