Chap. 789.—An ACT to authorize the county of Powhatan to change the
form of the bonds subscribed to the Farmville and Powhatan railroad
company, and to allow the board of supervisors of said county to refund
the conditional bonds.

Approved March 65, 1900.

1. Be it enacted by the general assembly of Virginia, That it shall
be lawful for the board of supervisors, in their discretion, to issue value
received coupon bonds, payable in lawful money of the United States,
aggregating any sum not exceeding the amount of forty thousand dol-
lars, in denomination of one hundred dollars each, or multiples thereof;
the rate of interest upon said bonds may be six per centum, payable
semi-annually at some bank or trust company in the city of Richmond,
Virginia, and the time of payment of the said principal of the said
bonds may be at such time as may be agreed upon ‘between the board of
supervisors and the bondholders.

2. If the board of supervisors of the county of Powhatan exercise the
discretion given them in this act, the bonds issued hereunder shall be
used exclusively either in refunding all or any of the forty thousand
dollars conditional bonds, but this act shall not be construed as giving
authority to the board of supervisors to issue bonds for any other pur-
pose or to use them in any manner than as hereinbefore mentioned.

3. Upon the execution and delivery of the coupon bonds, in exchange
for the conditional bonds, as authorized by this act, the said conditional
bonds so exchanged shall be cancelled by the clerk of the county of
Powhatan and in the presence of the board of supervisors of the said
county.

4, All acts inconsistent with this act are hereby repealed.

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