Chap. 237.—An ACT to amend and re-enact an act approved March 21, 1916,
entitled an act to amend and re-enact an act approved March 21, 1914,
entitled an act to amend und re-enact an act approved March 12, 1912,
entitled an act to amend and reenact an act approved March 11, 1908,
entitled an act to amen:i and re-enact an act approved March 10, 1906,
entitled 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 20, 1892,
entitled an act to provide for the settlement of the public debt of Vir-
ginia, not funded et cetera, and variously amended January 31, 1894;
January 23, 1896; January 25, 1898; February 3, 1900; February 16,
1901; April 2, 1902; March 10, 1906; March 11, 1908; March 14, 1910;
March 12, 1912; March 21, 1914, and March 21, 1916. {S B 380]

Approved March 15, 1918.

1. Be it enacted by the general assembly of Virginia, That sec-
tions seven and seventeen 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 provisions of an act
to ascertain and declare Virginia’s equitable share of the debt cre-
ated 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 hundred and
ninety-two, and to provide dor carrying the same into effect, ap-
proved January thirty-first, eighteen hundred and ninety-four, pro-
viding 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, eigh-
teen hundred and ninety-six, as amended by acts approved Janua
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; March eleventh, nineteen hundred and eight;
March fourteenth, nineteen hundred and ten; March twelfth; nine-
teen hundred and twelve; March twenty-first, nineteen hundred and
fourteen, and March twenty-first, nineteen hundred and sixteen, be
amended and re-enacted so as to read as follows:

7. ‘The commissioners of the sinking fund are hereby author-
ized and required to receive on deposit for verification, classifica-
tion and exchange, such of the said obligations of the State as
muy be presented to said commissioners, the said verification and
exchange for the new bonds of the obligations as deposited to be
conducted in the same manner as herein 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
proportion as the same class received under the distribution made
by the commission of 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 hun-
dred and eighteen, 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, and said cash, if paid, to be re-
turned if proper coupons are tendered within six months there-
after, 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 of the par
value of the bonds received by him, and the said sinking fund
commissioners shall cover the fund thus received into the treasury
of the Commonwealth.

Sec. 17. The commissioners of the sinking fund are authorized,
if it shall seem to them for the best interest of the Commonwealth
to make an extension of the time for the funding of the outstandin
evidence of debt due by the Commonwealth not heretofore funded
under said act of February twentieth, eighteen hundred and ninety-
two, for a period not extending beyond December thirty-first, nine-
teen hundred and nineteen.

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

3. All acts and parts of acts in conflict with this act are hereby
repealed.

4. As this is a matter material to the proper conduct of the
public affairs, this act shall be in force from its passage.