Chap. 264.—An ACT to amend and re-enact an act entitled an act to amend
and re-enact sections 7 and 17 as amended by an act entitled an act to
amend and re-enact sections 7, 17, and 18 of an act approved February 20,
1892, entitled an act to provide for the settlement of the public debt of Vir-
ginia not funded, etc., approved February 3, 1900.

Approved February 16, 1901.

1. Be it enacted by the general assembly of Virginia, That sections
seven and seventeen of an act entitled “an act to amend and re-enact an
act entitled an act to amend and re-enact sections seven, seventeen and
eighteen of an act approved February twentieth, eighteen hundred and
ninety-two, entitled an act to provide for the settlement of the public
debt of Virginia, not funded under the provisions of an act to ascertain
and declare Virginia’s equitable share of the debt created before and
actually existing at the time of the partition of her territory and
resources, and to provide for the issuance of bonds covering the same,
end the regular and prompt payment of interest thereon, approved Feb-
ruary fourteenth, eighteen hundred and ninety-two, and to provide for
carrving the same into effect, approved January thirty-first, eighteen
hundred and ninety-four,” and providing the time for which bonds issued
under this act, after March thirty-first, eighteen hundred and ninety-six,
shall carry interest, and section three of said act, approved January
twenty-third, eighteen hundred and nincty-six, to be amended and re-
enacted so as to read as follows:

¥ 7. The commissioners of the sinking fund are hereby authorized and
reine to receive on deposit for verification, classification, and exchange
such of the said obligations of the state as may be presented to said com-
missioners; the said verification and exchange for the new bonds of the
obligations so deposited to be conducted in the same manner as hereinbe-
fore provided, with respect to the obligations deposited with the said
hondholders’ committee; and the said commissioners of the sinking fund
shall issue to and distribute amongst said depositing creditors, after they
have fully complied with the terms of this act in exchange for the obliga-
{ions so deposited, bonds authorized by this act, as follows—namely : :
“To each of the several classes of said depositing creditors the same pro-
portion as the same class receive under the distribution made bv the
commission for the creditors represented by the bondholders’ committee:
provided, that no obligations shall be received for such deposit after the
thirtieth day of June, nineteen hundred and one, nor shall any coupon
bonds be received which do not have attached thereto all coupons mua-
turing after July first. eighteen hundred and ninety-one; but for any
such coupons as may he missing. coupons of like class and amount, or the
face value thereof in cash, may be received; the said cash, if paid, to be
returned if proper coupons are tendered within sixty days thereafter:
and each depositor shall, when he receives his distributive share of the
said new issue of bonds, pay to the commissioners of the sinking fund
three and one-half per centum in cash of the par value of the bonds re-
ecived by him, and said sinking fund commissioners shall cover the fund
thus received into the treasury of the commonwealth.
£17. The commissioners of the sinking fund are authorized, if it shall
een to them for the best interest of the commonwealth, to make one
extension of the time for the funding of the outstanding evidences of
debt due by the commonwealth not heretofore funded under said act of
February fourteenth, eighteen hundred and eighty-two, and February
twentieth, eighteen hundred and ninety-two, for a period not extending
bevond December thirty-first, nineteen hundred and one.

2. All bonds issued under the provisions of this act shall carry interest

from the semi-annual period next preceding the date of funding.

This act shall be in force from its passage.