Chap. 196.—An ACT to amend and re-enact an act entitled an act to legalize a
certain election held by the qualified voters of Floyd county, Virginia, for the
purpose of subscribing to the stock of the Mount Rogers and Eastern Railroad
Company, and to empower and direct the board of supervisors of said county
to subscribe to the preferred capital stock of said railroad company to the
amount of $150,000, par value, upon the terms and under the conditions pre-
scribed in the order of the county court under which the said election was
held. Approved January 18, 1902.

Approved March 15, 1902.

Whereas, the county court of Floyd county, Virginia, did, on the
twelfth day of June, nineteen hundred and one, make an order requiring
the sheriff of said county to open the polls on the twenty-fourth day of
July, nineteen hundred and one, and take the sense of the qualified
voters of said county on the question of subscribing to one hundred and
fifty thousand dollars’ worth of the preferred stock of the Mount Rogers
and Kastern Railroad Company, par value, upon the condition that the
said railroad company should within four years from the first day of
July, nineteen hundred and two, construct thirty miles of standard
gauge railroad through and across the said county of Floyd, and upon
other conditions named in said order; and,

Whereas, at the said election, held under the said order, a majority,
both of the voters voting and the majority of the freeholders voting in
said county, voted in favor of subscribing to the said one hundred and
fifty thousand dollars’ worth of the preferred stock of said railroad com-
pany, at par, under the conditions and upon the terms named in said
order of the county court: therefore,

1. Be it enacted by the general assembly of Virginia, That the act
entitled an act to legalize a certain election held by the qualified voters of
Floyd county, Virginia, for the purpose of subscribing to the stock of the
Mount Rogers and Eastern Railroad Company, and to empower and direct
the board of supervisors of said county to subscribe to the preferred capi-
tal stock of said railroad company to the amount of one hundred and
fifty thousand dollars, par value, upon the terms and under the conditions
prescribed in the order of the county court under which said election
was held, approved January the eightcenth, nineteen hundred and two,
be amended and re-enacted so as to read as follows:

Be it enacted by the general assembly of Virginia, That the election
held by the citizens of the county of Floyd on the twenty-fourth day of
July, nineteen hundred and one, under the order of the county court of
said county, entered June twelfth, nineteen hundred and one, for the
purpose of ascertaining the sense of the voters and freeholders of said
county as to the subscription to one hundred and fifty thousand dollars’
worth of the preferred capital stock of the Mount Rogers and Eastern
Railroad Company, at par value, upon the terms and conditions named in
said order, is hereby legalized, and the general assembly of Virginia
hereby validates the subscription voted by said voters and freeholders to
one hundred and fifty thousand dollars’ worth of the preferred capital
stock of the said Mount Rogers and Eastern Railroad Company under
the terms and conditions named in said order of the county court of
Flovd county, and the board of supervisors of Floyd county shall make
formal subscription, upon the terms and conditions named in said order,
to one hundred and fifty thousand dollars’ worth of the preferred capital
stock of the Mount Rogers and Eastern Railroad Company, at par, the
same to be in the bonds of the said county of Floyd to the amount of
one hundred and fifty thousand dollars, par value, bearing interest at
the rate of five per centum per annum from the time of delivery and
payable annually, and the principal of said bonds to be payable thirty-
five vears from the late of delivery, with the privilege of paying said
bonds at any time after five years from the date of delivery, and said
bonds shall not commence to bear interest until the delivery thereof, and
the said subscription shall be conditional upon beginning construction by
the first day of July, nineteen hundred and two, and the completion by
the railroad company of thirty miles of standard gauge railroad through
and across said county of Floyd by the first day of July, nineteen hun-
dred and six, and the said bonds of the county of Floyd shall not be de-
livered to the said railroad company until and unless the said railroad
company shall construct and put in operation across and through the
said county of Floyd thirty miles of continuous standard gauge railroad,
exclusive of spurs and sidings, by the first day of July, nineteen hundred
and six, and a station-house not less than ten miles northeasterly of
courthouse in Floyd county, for both passengers and freight, and until
and unless the terms and conditions of said order of election and of this
act have been complied with, then the board of supervisors of Floyd

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194 ACTS OF ASSEMBLY.

county are hereby vested with full power to execute said bonds in the
name of the county of Floyd, and are empowered and directed to lay
such a levy upon the real and personal property of the county of Floyd
as may be necessary to provide for the payment of the interest and a
sinking fund for the payment of the principal of said county bonds, the
limitations of the amount of taxation ae prescribed in the twelve hun-
dred and forty-third section of chapter fifty-one of the Code of eighteen
hundred and eighty-seven to the contrary notwithstanding.
2. This act shall be in force from its passage.