Chap. 172.—An ACT to submit to the qualified voters of Alleghany county
and of the incorporated towns of Covington and Iron Gate the ques-
tion of whether or not the board of supervisors of said county shall
borrow the sum of $100,000.00 to be used in the building of public
roads in Alleghany county, Virginia; and to permanently improve the
present roads in said county; and to issue bonds of said county for
the said sum of $100,000.00; and providing further for the levying of
a tax upon the taxable property in the county of Alleghany, and in
the incorporated towns in said county for the purpose of paying the
interest on such bonds as may be issued under the provisions of this
act; and for the purpose of creating a sinking fund to discharge the
principal of said bonds, provided a majority of said qualified voters
shall favor the issue and sale of such bonds. (H. B. 425.)

Approved March 16, 1916.

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Alleghany county, Virginia, be, and
it is hereby authorized and empowered to borrow the sum of one
hundred thousand dollars to be used in the county of Alleghany
for the purpose of constructing new roads, and for the purpose
of widening and otherwise permanently improving the present
roads in said county, and the maintaining of same as hereinafter
provided. The said sum of one hundred thousand do!lars shall
be used as nearly equal in the three magisterial districts in said
county, in the permanent improvement, construction and main-
tenance of the said public roads as can practically be done,
taking into consideration the mileage of the roads in the said
magisterial districts, respectively, and the mileage of new roads
necessary to be constructed in the three magisterial districts
in said county, respectively, and the said fund so borrowed shall
be used exclusively for the permanent improvement of said
public roads in said county, and for the construction of new
roads therein, and for the maintenance of said roads after they
are constructed and improved, the said fund to be used under
the direction of the board of supervisors of said county, in
working the convict road force provided by the State, or for
the employment of other labor, or in any manner in which the
board of supervisors may deem to be best and proper to use
said fund for the improvement and construction of said roads.
The board of supervisors of said county shall employ a skilful
and competent engineer, or engineers, who shall locate such new
roads, and relocate the present roads, where necessary, and
provide plans and specifications for the permanent improvement
of the present roads, and of the new roads constructed, and shall
furnish to the board of supervisors an estimate of the probable
cost of any and all of said work before the same is undertaken,
and the board of superivsors shall then have said work con-
structed in any manner and by any means that they may deem
advisable and proper, and when any roads are permanently im-
proved, with money borrowed under the provisions of this act,
or new roads constructed in a permanent manner with said
342 ACTS OF ASSEMBLY. [VA.

money, such new roads and permanently improved roads shall
be maintained and kept in repair with the fund borrowed under
the provisions of this act, for a period of one year after they
are constructed and permanently improved; and after any of
said roads are improved under the provisions of this act, the
board of supervisors of said county may establish toll gates
on any of said roads at such places as they think proper, same
to be established and tolls collected thereon in the manner pro-
vided by law for the establishment of toll roads.

2. The said board of supervisors. of Alleghany county is
hereby authorized and empowered to issue coupon bonds of the
said county for the said sum of one hundred thousand dollars
which said bonds shall be known as “Alleghany county road
bonds,” and shall be of the denomination of five hundred dollars
each, and shall be numbered consecutively from one (1) to two
hundred (200) inclusive. Said bonds shall be payable in thirty
(30) years from the date of their issuance and shall bear interest
at a rate not to exceed five per centum per annum, which in-
terest shall be payable semi-annually at the office of the treas-
urer of Alleghany county, and said bonds shall be attested by
its clerk, and shall have the seal of the board of supervisors
affixed thereto. The board of supervisors of said county shall
have the right, after the expiration of ten years from the date of
issuance of said bonds, to pay any or all of said bonds, and this
provision shall be stated in the face of the bonds, and if less than
all of said bonds are redeemed under said option, they shall be
redeemed and paid in their inverse numerical order, and shall
be redeemed upon the expiration of at least thirty days after
written notice to the owner, or owners, thereof, which said
notice shall be given by the treasurer of said county upon the
order of the board of supervisors, by sending said written notice
by registered mail to the last known post office address of the
original purchaser, or purchasers, of the bonds which the board
of supervisors desire shall be redeemed under said option, and
that upon the expiration of the said period of at least thirty
days, interest upon any bonds so elected by said county to be
paid and redeemed shall cease. provided that the notice afore-
said of at least thirty days shall expire on one of the dates upon
which interest on said bonds shall become payable.

3. The said board of supervisors shall have full power to
negotiate a sale of said bonds through an agent, or agents, or in
any way it mav deem best, and the proceeds of said bonas,
when sold, shall be received by the treasurer of Alleghany county,
and for the money so received, the said treasurer shall be liable
upon his official bond. The said bonds shall not be sold at less
than their par value. The county treasurer of Alleghany county
shall keep an accurate account of the money received by him
from the sale of said bonds, and shall pay the money so received
by him on warrants issued by the said board of supervisors on
said fund, which said warrants shall be signed by the chairman
of the board of supervisors and attested by its clerk, and for
his services in receiving and disbursing the proceeds of said
bonds, the said county treasurer of Alleghany county shall re-
ceive such compensation as the said board of supervisors shall
prescribe. .

4. The said board of supervisors shall annually include in
the levy upon the property and lawful subjects of taxation in
said county, and the property and lawful subjects of taxation in
incorporated towns in said county, as a part of the annual county
levy, a sum sufficient to pay the annual interest on the bonds
then outstanding, and, in addition, a sum sufficient to pay at
Jeast three and one-half (314) per centum of the principal of
the said bonds, which said additional sum, for the purpose of
defraying the principal of said bonds, shall constitute a sinking
fund for the redemption thereof. The said board of supervisors
is authorized and empowered to deposit any amount received as
a sinking fund in any bank, or banks, at interest, and to collect
and re-invest the same, together with the interest thereon, from
time to time, so often as it may be deemed necessary or expe-
dient. All of the said bonds and coupons paid off or redeemed
by the said board of supervisors shall be forthwith destroyed in
the presence of the board of supervisors.

6. But said board of supervisors shall not proceed to act
hereunder until the question of whether or not the said bonds
shall be so issued and sold for the purpose named shall first be
submitted to the qualified voters of Alleghany county and the
incorporated towns of Covington and Iron Gate, voting as a
unit, at an election to be called at any time within two years
from the passage of this act by said board of supervisors by
proper resolution; which election shall, in all other respects, be
conducted under the general law governing special elections;
provided further that the resolution calling said special election
shall recite the total amount of bonds proposed to be issued, the
rate of interest to be paid, and the general purposes for which
the money is to be expended.

If, at the election to be so called, a majority of the qualified
voters of Alleghany county, Covington and Iron Gate, voting
as a unit, favor the issue and sale of such bonds as shall have
been proposed in said resolution calling said election, then the
board of supervisors shall proceed to issue and sell the same as
herein provided.

7. On account of the necessity of the immediate use of the
money to be raised under this act, this act is declared to be an
emergency act, and shall be in force from its passage.