CHAP. 228.—An ACT to legalize a certain election held by the qualified voters
Prince Edward county, Virginia, for the purpose of subscribing to the stock
the Charlotte, Farmville and James River Valley Railway Company; to empowe
and direct the supervisors of said county to subscribe to the capital stock
said railway company to an amount not exceeding $57,000 in the said county
bonds, or $3,000 per mile in the said county’s bonds, par value, upon the term
and conditions prescribed in the order of court under which said election wa
held.

Approved May 14, 1903.

Whereas, the county court of Prince Edward county, Virginia, on th
fifteenth day of September, nineteen hundred and two, did make an orde
requiring the sheriff of said county to open the polls on the twenty-eight
day of October, nineteen hundred and two, and take the sense of the quali
fied voters of said county on the question of subscribing to the stock of th
Charlotte, Farmville and James River Valley Railway Company to a1
amount not exceeding fifty-seven thousand dollars in the said county’
bonds, or three thousand dollars per mile in the said county’s bonds, pa
value, upon the condition that the said subscription is to be made onl:
after the said railway has been completed from Rosney, in Buckinghan
county—a connection with the Chesapeake and Ohio system—through th
town of Farmville to Charlotte courthouse, said subscription to be pai
in bonds of the said company carrying not exceeding five per centum in
terest per year and having not more than fifty years to run, the said com
pany agreeing to accept said bonds at not less than par, and in accordance
with the law to issue to the county on such subscription being made, it
capital stock, at par, to an amount equal to the amount of such subscrip
tion, on which said company will guarantee to pay after two years to th
county, at the end of every year from the date of its issue, a dividend o
four per centum, if there shall be income sufficient after the payment o
interest on its first mortgage bonds, to the amount of eighteen thousan
dollars per mile of roadway; and it having been further agreed that th
said stock is at any time exchangeable, at market value, for the first mort
gage bonds of said company at market value, and that the said first mort
gage bonds shall be interest bearing, and the said interest shall be pay.
able to the said county of Prince Edward; and,

Whereas, at an election held under said order a majority both of th
voters and of the freeholders of said county voted in favor of subscribing
to the aforesaid amount of capital stock of said company at par, undet
the conditions and upon the terms named in said order of the count}
court; and, .

Whereas, the name of said company has, by an order of the circuit cour
of the city of Richmond, been duly changed from the Charlotte, Farm.
ville and James River Valley Railway Company to Virginia Railroac
Company, as authorized by the charter of said company; therefore,
1. Be it enacted by the general assembly of Virginia as follows: TE
election held by the citizens of the county of Prince Edward on the twer
ty-eighth day of October, nineteen hundred and two, under an order o
the county court of said county entered on the fifteenth day of Septembe:
nineteen hundred and two, for the purpose of ascertaining the sense of
majority of the qualified voters and frecholders of said county as to tk
subscription to the capital stock of the Charlotte, Farmville and Jame
River Valley Railway Company to an amount not exceeding fifty-seve
thousand dollars in the said county’s bonds, or three thousand dolla
per mile in the said county’s bonds, at par, upon the terms and cond
tions named in said order, is hereby legalized; and the general assemb:
of Virginia hereby validates the subscription voted by said voters an
freeholders as aforesaid under the terms and conditions named in sa:
order of the county court of Prince Edward, as described in this act: an
the board of supervisors for said county shall, through two agents. to t
appointed by it, for that purpose, as provided in the act of assembly in
corporating said corporation, make formal] subscription in accordance wit
the report of the county suveyor, as provided for in said act of incorpora
tion, to the capital stock of said company now named Virginia Railroa
Company, at par, to an amount not exceeding fifty-seven thousand do:
lars, to be paid in the said county’s bonds, or three thousand dollars pe
mile, to be paid in the said county’s bonds, there being nineteen mii
or less of the said company’s roadway in said county; said subscriptio:
to be paid in the negotiable coupon bonds of the said county of Princ
Edward to the amount as above prescribed, par value, bearing intere
at the rate of five per centum per annum from the time of delix ery, pay
able semi-annually, and the principal of said bonds payable fifty year
from the date of delivery. The said bonds shall not commence to bea
interest until the delivery thereof; and the said subscription shall be con
ditional upon the said railway company’s completing its line of standar
gauge railroad from Rosney, in Buckingham county—a connection wit
the Chesapeake and Ohio system—through the town of Farmville to Cha:
lotte courthouse; and the said board of supervisors of the said couut
of Prince Edward are hereby authorized and directed to appoint tw
officers or agents to receive from said company such certificates of stoc
in exchange for said bonds, as provided in said act of incorporation. An.
the board of supervisors for Prince Edward county are vested with fu!
power to, and shall, execute said bonds in the name of said county o
Prince Edward, when said roadway has been completed to Charlott
courthouse, through the town of Farmville, and are directed and em
powered to lay such a levy upon the real and personal property of th
said county as may be necessary to provide for the payment of the interes
and a sinking fund for the payment of the principal of the bonds of sai:
county, the limitations of the amount of taxation as prescribed unde
section twelve hundred and forty-three, chapter fifty-one, of the Coil
of eighteen hundred and eighty-seven, to the contrary notwithstanding.

2. All acts or parts of acts inconsistent or at variance with this ac
are hereby repealed.

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