Chap. 607.—An ACT to authorize the supervisors of the counties of Rappahan-
nock, Madison, Culpeper, Greene, Orange, Warren and Spotsylvania, or any of
them, to aid in the construction of the Piedmont railway company.

Approved March 1, 1898.

1. Be it enacted hy the general assembly of Virginia, That the county
supervisors of the counties of Rappahannock, Madison, Greene, Orange,
Culpeper, Warren and Spotsylvania, or any of them, be, and they are
hereby, expressly authorized, enabled and empowered to aid the Pied-
mont railway company, in the construction of the road authorized by
act of this assembly, by issuing the bonds of the said counties, respect-
ively, to the amount not excecding fifty thousand dollars for any one of
said counties, which said bonds shall be of the denomination of one
thousand dollars and multiples thereof, and shall bear interest at the rate
vf five per centum per annum. The principal of said bonds shal] be
payable in forty years from date of isaue, subject, however, to the right
of said counties to redeem the same, in whole or in part, at any time
after the expiration of twenty years from the date of said issue. The
interest of the said bonds shall be paid semi-annually, and each thereof
shall have coupons thereto attached, representing each semi-annual
instalment of interest, and which are to be sold and delivered as herein-
after stipulated; and provided, further, that such bonds shall not be
issued until the question of their issuance for the purpose in this section
declared shall have been submitted by the said supervisors to the quali-
fied voters of the said counties, respectively, at the same time and in
the manner provided in sections twelve hundred and forty-three and
twelve hundred and forty-four, code of Virginia, and a majority of the
votes cast by such qualified voters shall have determined in favor of the
issuance of said bonds for the purpose aforesaid, as provided in section
twelve hundred and forty-five: provided, such majority shall compose a
majority of the freeholdera voting at such election.

2. That when and as soon as the Piedmont railway company shall
have graded twenty-five miles from the starting point of the railway
authorized by an act of this assembly through any of the respective
counties, the counties respectively, through their supervisors, shall
forthwith cause the whole of said bonds to be issued and sold to the
highest bidder or bidders therefor: provided, that no bid shall be ac-
cepted at less than the par value thereof; and when such sale has been
effected, one-half’ the proceeds thereof shall be paid over by the said
counties, respectively, to the treasurer of the said Piedmont railway
company upon the conditions and provisions as in the next section
authorized and provided.

3. That when the said Piedmont railway company shall have re-
ceived notice that the said counties or any of them are prepared to pay
over to the said treasurer the moneys realized from the sale of said bonds,
the said Piedmont railway company shall forthwith make, execute, ac-
knowledge and contemporaneously, with the receipt of the said moneys,
deliver unto the said counties, respectively, a mortgage or mortgages, to the
counties, respectively, of so much and such part only of the said railway as
lies within the respective counties for the amount paid over by each or any
of the said counties, bearing interest at the rate of two per centum per
annum, the said interest to be paid semi-annually, and the principal
thereof at the expiration of thirty-eight years from the date of the said
mortgage or mortgages; such mortgage or mortgages shall constitute a
first and specific lien on that part only of said railway company includ-
ing station house or houses thereon which shall lie within the limits of
the counties, respectively, and shall not in any wise be a hen upon or
incumber anv other property or assets of the said corporation, nor be
treated as debt or liability of the said company, otherwise than as a
specific lien on that part of the said railway located within the said
counties, respectively, which shall constitute the only fund and security
for its payments; the said mortgage or mortgages shall be recorded as
other mortgages are in the clerk’s office of the county so paying over,
and in case of default for a space of two years in the payment of any
instalment of interest or non-payment of the principal at maturity, the
supervisors of the respective counties are hereby expressly authorized
and empowered to institute proceedings in equity in the circuit court of
its county to foreclose the said mortgage, and in case of sale in such pro-
ceedings the said county supervisors or any of them, are expressly
authorized and empowered to purchase the said mortgaged premises at
any sum not exceeding the amount unpaid on the said mortgage, and
for and on account of the counties. The remainder of the amount rea-
lized from the sale of said bonds by the said counties, respectively, shall
be paid over to the treasurer of the said Piedmont railway company
when the said roadbed is completed through the county so paying and is
ready for rolling stock thereon.

4. The said supervisors of the respective counties at such time as they
may designate, but not later than two years from the passage of this
act, shall submit to the legal voters of said counties whether they will
vote for or against the issuance of the bonds of the said counties, for the
purpose in aiding in the construction of said railway, as hereinbefore
provided, at an election to be held on that day for the purpose of ascer-
taining the sense of the said vote touching said question, and the said
supervisors shall cause to be printed or written on the ballots to be used
at the said election the words, ‘‘ for aid to the Piedmont railway com-
pany,’’ and the words, ‘‘ against aid tothe Piedmont railway company,’’
and they are hereby authorized to pay cost of such ballots. But before
any of the said counties shall avail themselves of the provisions of this
act, a petition shall be presented to the county court at least thirty
days before the day fixed for said election signed by at least twenty-five
of the freeholders of the county, praying for an order for said election,
for the amount fixed in said petition not exceeding fifty thousand dol-
Jars, and thereupon the court shall order an election in accordance with
the provisions of this act and in accordance with the law in such cases
limiting the amount to be voted upon to the sum of fifty thousand
dollars.

5. That the judges of the election in the several districts shall care-
fully ascertain the number of votes cast in their respective districts, for
aid to the Piedmont railway company, and the number cast against aid
to the Piedmont railway company, and the several judges shall make re-
turns thereof attested by their hands and seals, to the clerks of their respec-
tive counties, and the said clerks shall send a copy thereof, under seal of
his office, to the supervisors of their respective counties.

6. That if from the returns made by the judges of election, as cer-
tified by the said clerks, it shall appear that such a majority of the
votes as is provided in section one of this act, were cast in favor of aid
to the Piedmont railway company, the supervisors of the said counties,
respectively, or a majority of them, are hereby authorized and directed
to issue the bonds of said county to the amount provided for by the
orders of the respective county courts in conformity with the provisions
of this act, and all expenses pertaining to the issuance of these bonds
shall he paid by the respective counties.

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