Chap. 39.—An ACT to allow the town of Abingdon to supply said town and
its inhabitants with water, gas and electric light, and to issue bonds of
said town to effect said purpose.

Approved February 8, 1901.

1. Be it enacted by the general assembly of Virginia, That it shall be
lawful for the town of Abingdon to provide for supplying said town
and the inhabitants thereof and of the vicinity with a suitable and ade-
quate supply of water, gas and electric light. by leasing or by the pur-
chase of suitable works, or the erection of new works and plants for said
purpose, and to that end to borrow money and negotiate bonds of said
town for the same to an amount not exceeding twenty thousand dollars

2. Said bonds shall be known and designated as Abingdon light and
water bonds: they shall be registered or coupon bonds, as may be deter-
mined by the council of said town: shall be issued in such denominations.
and hear such rate of interest, not exeeeding six per centum per annum
as may be determined by said council. The principal of said bonds shall
be pavable twenty vears after the first day of July, nineteen hundred and
one, or upon the call of said town conncil at any time after five vears from
said date: the interest thereon shal] be payable semi-annually: said bonds
shall bear the corporate seal of said town, shall be signed by the mayor
thereof. and countersigned by the clerk of the council. and shall have
printed in the face thereof the statement that they were issued pursuant
to the provisions of this act, and the ratification by the voters of said town
as prescribed herein. They shall be negotiated or sold in such manner as
may be prescribed by said council, but they shal] not be sold for less than
ninety-five per centum of the par value thereof: provided, that only so
much money shall be borrowed hereunder, and a sullicient amount of
bonds issued therefor as may be necessary for the purposes herein
declared, and no money shall be borrowed, nor any of said bonds issued
therefor unless and until a plan or scheme for supplying said town and
inhabitants as aforesaid with water and light shall be agreed upon and
adopted by the said council, and ratified by the vote of the qualified voters
of said town, as hereinafter provided.

3. The control and management of said works shall be under the
direction of said council, to be exercised by itself or through such
committees or agencies as it may adopt; and said council shall prescribe
and regulate the rates of charges to be paid for the use of the water and
lights furnished by said town; may impose fines and penalties for the
injury or abuse of said works, or property connected therewith, or for the
abuse or waste of said water and lights furnished by said town, and may
enforce and collect said fines and penalties, and the charges for water
and lights, by distress or otherwise, as said council may determine.

4. The revenues derived from the charges for water and lights, and the
fines and penalties collected pursuant to the third section hereof, shall.
after the payment of the running expenses of the works, be appropriated
toward the payment—first, the interest on the bonds herein authorized
to be issued; next, to provide a sinking fund for the liquidation of said
bonds, and then to such purposes as the council may determine. But
to provide for keeping up and running said works, and the payment of
the interest on and principal of said bonds, said council shall, in aid
and supplement of said revenues, levy and collect taxes on any and all
subjects which it is now or may hereafter be authorized to tax; and said
council may also secure the payment of the principal and interest on said
honds by a mortgage or deed of trust upon all the works, rights and
properties which may be erected, built or acquired under this act. The
sinking fund to be provided for the payment of said bonds shall not be
less than two per centum per annum upon the amount of the bonds out-
standing.

5. For the purpose of erecting, building. enlarging, or improving such
works, and laying pipes, or stringing wires therefrom, said town may
acquire, by purchase or otherwise, and hold such real or personal prop-
erty within or without said town as may be necessary therefor, and may
have such lands within or without said town necessary for such purposes,
condemned by proceedings before the proper tribunal having jurisdiction
over the same in the manner prescribed by the general laws of the State
for condemning lands for other works of internal improvement.

After said council shall have matured and adopted a plan or scheme
for supplying said town and inhabitants with water and light as afore:
said, it shall submit such plan or scheme to the qualified voters of said
town, at such time and in such manner as said council shall prescribe,
40 ACTS OF ASSEMBLY.

consistent with this act, for their ratification or rejection: at least ten
days’ notice of the time and manner of such election shall be given by
publication in a newspaper published in said town, and by hand-bills
posted therein; and the result thereof shall be ascertained and declared
in the manner prescribed by said council, and shall be proclaimed by the
mayor by publication. If at such election one-half of the qualified
voters of said town, who shall vote on said plan or scheme, embracing a
majority of the frecholders of said town so voting thereon, shall appear
to be in favor of said plan or scheme, it shall be declared ratified, or
otherwise, it shall be declared rejected, and this act shall be void, and
such vote shall be taken within three years from the approval of this act,
and not thereafter.
This act shall be in foree from its passage.