Chap. 167.—An ACT to amend an re-enact an act approved March eleventh,
nineteen hundred and eight, entitled an act to amend and re-enact an act
approved March tenth, nineteen hundred and six, entitled an act to
amend and re-enact an act entitled an act to amend and reenact sec-
tions seven and seventeen, as amended by 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.
et cetera, and variously amended January thirty-first. eighteen hundred
and ninety-four, January twenty-third, eighteen hundred and ninety-six,
January twenty-fifth, eighteen hundred and ninety-eight, February third,
nineteen hundred, February sixteenth, nineteen hundred and one, April
second, nineteen hundred and two, March tenth, nineteen hundred and
six, and March eleventh, nineteen hundred and eight.

Approved March 14, 1910.

1. Be it enacted by the general assembly of Virginia, That sections
seven and seventcen of an act entitled an act to amend and re-enact 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 provision of an act to ascertain and declare Virginia’ 8
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, and the regular and prompt
payment of interest thereon, approved February twentieth, eighteen hun-
dred 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 hun-
dred and ninety-six, as amended by acts approved February “third, nine-
teen hundred, February sixteenth, nineteen hundred and one, April
second, nineteen hundred and two, March tenth, nineteen hundred and
six, and March eleventh, nineteen hundred and eight, to be amended and
re-enacted so as to read as follows:

87. 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 com-
missioners, the said verification and exchange for the new bonds of the
obligations so deposited to be conducted in the same manner as herein-
before 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 obliga-
tions so deposited, bonds authorized by this act, as follows, namely: To
each of the several classes of said depositing creditors the same propor-
tion as the same class receive under the distribution made by the com-
mission for the creditors represented by the bondholders’ committee:
provided, that no obligations shall be received for such deposit after the
thirty-first day of December, nineteen hundred and ten, 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 face
value thereof in cash, may be received, the said cash, if paid, to be re-
turned if proper coupons are tendered within six months 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 for the par value of the bonds received
by him, and said sinking fund commissioners shall cover the fund thus
received into the treasury of the Commonwealth.

817. The commissioners of the sinking fund are authorized, if it shall
seem to them for the best interest of the Commonwealth, to make an ex-
tension of the time for the funding of the outstanding evidences of debt
due by the Commonwealth not heretofore funded under said act of Feb-
ruary fourteenth, eighteen hundred and eighty-two, and February twen-
tieth, eighteen hundred and ninety-two, for a period not extending be-
yond December thirty-first, nineteen hundred and eleven.

2. All bonds under the provisions of this act shall carry interest from
the semi-annual period next preceding the date of funding.