Chap. 228.—An ACT authorizing the qualified voters of Prince Edward county to
vote upon the question of issuing the bonds of said county to secure money for
the purpose of purchasing road machinery and improving the public roads of
said county, and authorizing the board of supervisors to issue the bonds of the
county for said purpose, if the vote shall be in favor thereof.

Approved March 15, 1902.

1. Be it enacted by the general assembly of Virginia, That whenever
the board of supervisors of the county of Prince Edward shall so request
the judge of the county court of the said county shall direct an election
to be held, submitting to the voters of said county qualified at the time
of such election to vote for members of the general assembly the question
as to whether or not the bonds of the said county for the sum of fifty
thousand dollars shall be issued, the said bonds to be payable fifty years
after date, to bear interest at a rate not to excecd six per centum per
annum, and not more than ten thousand dollars of said bonds to be issued
in any one year; the money derived from the sale of said bonds to be used
solely for the purpose of purchasing road machinery and improving the
public roads of said county. Notice of the said election shall be given by
posting a copy of the order directing the same at each regular voting
place in said county, and at the front door of the courthouse, at least
thirty days before the same is to be held, and in such other manner as
the said judge may direct.

2. The judge of the county court shall, by order entered of record,
designate the judges and clerk to conduct said election, who, after taking
an oath faithfully to discharge the duties assigned to them, shall open
polls at the various voting places in said county at the time designated in
the order directing the election, and shall conduct such election and
close the polls in the manner provided by law for other elections. Should
any of the election officers fail to attend at the proper time and place,
their places may be supplied as provided by law. At said election each
qualified voter who shall approve such bond issue shall deposit a ticket
or ballot, on which shall be written or printed the words, “for bond
issue”; and each qualified voter who shall oppose such bond issue shall
deposit a ticket or ballot, on which shall be written or printed the words,
“against bond issue.” And each ticket or ballot shall be endorsed with
the name of the voter, and unless so endorsed, the election officers shall
refuse to receive the same. The judges of election at the respective vot-
ing places shall, immediately after the closing of the polls, count the bal-
lots deposited, and shall make a certificate in the poll books of the num-
ber of votes cast for the bond issue and of the number cast against the
bond issue, which certificate shall be signed by all of the judges and
clerks; and they shall, within two days after said election, return the
ballots cast for and against such bond issue in separate sealed packages,
as well as the poll books, to the clerk of the county court. The judge of
the county court shall appoint four qualified voters of the said county,
who, with the clerk aforesaid, shall constitute a board of election com-
missioners, whose duty it shall be, on the second day after the said elec-
tion, to meet at the office of the said clerk, and, having taken an oath
before him faithfully to perform their duties, open the poll books and
packages of ballots, count the said ballots, correct the returns if need be,
and ascertain and report how many of the said ballots were cast by free-
holders.and how many were cast by non-freeholders for the bond issue
and against the bond issue, respectively, which report, signed by a ma-
jority of the board, shall be entered by the clerk upon the order book of
the county court of said county.

3. If it shall appear by the report of the said board of election commis-
sioners that a majority of all the votes cast (which majority shall include
three-fifths of the freeholders voting at said election) are in favor of
the issuance of the said bonds, then the said board of supervisors shall
be authorized to issue the registered or coupon bonds of the county of
Prince Edward for the sum of fifty thousand dollars, the said bonds to
bear interest at a rate to be prescribed by the said board not to exceed six
per centum per annum, the said bonds to be payable fifty years after date:
provided, that not more than ten thousand dollars of the said bonds shall
be issued in any one year. The board of supervisors shall prescribe,
within said limitation, the amount of bonds to be issued for any year.

4. The said bonds shall be of the denomination of one hundred dol-
lars each, or multiples of said sum, and shall be signed by the chairman
of the board of supervisors and the county treasurer, and attested by the
clerk, who shall attach the seal of the said board. The form of said bonds
shall be prescribed by the board of supervisors.

5. The said bonds, when issued, shall be disposed of by the board of
supervisors in such manner as it may deem best, but no bond shall be
sold for less than the par value thereof. The said bonds, at maturity,
and all interest coupons when due, shall be receivable for all taxes and
debts due to the county of Prince Edward, except school levies.

6. The said bonds and all interest coupons shall be payable at the
office of the treasurer of the county of Prince Edward, and when paid by
him shall be marked paid and cancelled, and shall be exhibited to the
board of supervisors at the time of his next annual settlement.
%. All moneys realized from the sale of said bonds shall be received
by the treasurer of said county, and by him deposited in such bank or
banks as the judge of the county court of said county shall, by order
entered of record, designate as a special fund, to be known as the road
improvement fund; and said fund shall be disbursed only upon the check
of the said treasurer, countersigned by the chairman of the board of
supervisors, and shall, under no circumstances, be expended for any pur-
pose other than the purchase of road machinery and improving the public
roads of said county. The treasurer shall be allowed as his full compen-
sation for receiving and disbursing said fund one per centum of the
amount for which said bonds shall be sold. The treasurer shall be liable,
on his official bond, for the proper discharge of his duties under this act.

8. The board of supervisors shall embrace each year in its levy a sum
sufficient to pay the interest for such year on the bonds tHen outstanding
or to be issued during such year.

9. The said board shall also provide a sinking fund by a levy, from
year to year, not exceeding ten cents on the one hundred dollars of taxable
property in said county. The money so derived, together with any other
money which shall be paid to him for the purpose, shall be deposited by
the treasurer in such bank or banks as the judge of the county court of
said county shall, by order entered of record, designate as a special
fund, to be known as the “sinking fund,” subject to the order of the sink-
ing fund commissioners hereinafter provided for.

10. The judge of the county court, the treasurer of the county, and
the chairman of the board of supervisors shall, ex-officio, compose the
board of sinking fund commissioners, which board shall be intrusted
with the duty of investing, from time to time, any money that may be de-
posited to its credit in the sinking fund, taking such security therefor as
may be approved by two of their number. Such money shall not at any
time be loaned to the county, but the said board may, if it shall deem
advisable, purchase and retire, from time to time, the bonds of the
county isssued under this act. It shall be the duty of the board to see
that the provisions of this act with reference to the sinking fund are
strictly complied with.

11. The board of sinking fund commissioners shall annually make a
report to the board of supervisors, showing what funds are under its
control, and how the same are invested. Warrants upon the sinking
fund shall be drawn by the chairman of the board of supervisors, and
countersigned by the judge of the county court. It shall be the duty of
the board of sinking fund commissioners to provide for the payment of
said bonds by the treasurer out of the sinking fund as they shall become
due.

12. All acts and parts of acts in conflict with this act are now and
hereby repealed.

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