Chap. 138.—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 24,
1892, entitled an act to provide for the settlement of the public debt of
Virginia not funded, etc., approved February 3, 1900, and a similar amend-
ment approved February 16, 1901, as again amended by act approved April
2, 1902.

Approved March 10, 1906.

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, seventecn 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 re-
sources, and to provide for the issuance of bonds covering the same, and
the regular and prompt payment of interest thereon, approved February
twentieth, eighteen hundred and ninety-two, and to provide for carrying
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 ninety-six, as amended by acts approved
February third, nineteen hundred, February sixteenth, nineteen hundred
and one, and April second, nineteen hundred and two, to he amended and
re-enacted so as to read as follows:

$7. The commissioners of the sinking fund are hereby authorized and
required to receive on deposit for verification, classification and exchange
such of the said obligations of the State as may be presented to said
commissioners, the said verification and exchange for the new bonds of
the obligations so deposited to be conducted in the same manner as
hereinbefore provided with respect to the obligations deposited with the
same bondholders’ 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
obligations so deposited, bonds authorized by this act, as “follows—
namely : To each of the several classes of said depositing creditors the
same proportion as the same class receive under the distribution made
by the commission for creditors represented by the bondholders’ com-
mittee: provided, that no obligations shall be received for such deposit
after the thirty-first day of December, nineteen hundred and six, nor
shall any coupon bonds be received which do not have attached thereto
all coupons maturing after July first, eighteen hundred and ninety-one;
but for any such coupons as may be 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 six
months thereafter, and each depositor shall, when he receives his dis-
tributive share of the said new issue of bonds, pay to the commissioners
f the sinking fund three and one-half per centum in cash of the pa
alue of the bonds received by him, and said sinking fund commissione!
hall cover the fund thus received into the treasury of the Commonwealtl

$17. The commissioners of the sinking fund are authorized, if it sha
‘em to them for the best interest of the Commonwealth, to make an ¢)
-nsion of the time for the funding of the outstanding evidences of del
ue by the Commonwealth not heretofore funded under said act of Fel
uary fourteenth, eighteen hundred and eighty-two, and February twer
eth, eighteen hundred and ninety-two, for a period not extending bi
ond December thirty-first, nineteen hundred and seven.

2. All bonds issued under the provisions of this act shall carry intere:
rom the semi-annual period next preceding the date of funding.