Chap. 448.—An ACT to authorize, empower and direct the board of supervisors
of the county of Carroll to borrow money by the issuance of bonds for a
sum not to exceed $300,000.00 for the purpose of the building and permanent
improvement of the roads and bridges in said county; prescribing how such
bonds may be issued and disposed of; to create a county road board for the
county of Carroll and to prescribe its powers and duties; also to provide
how the funds realized from the sale of said bonds shall be disposed of.

[H B 490]
Approved March 24, 1920.

Sec. 1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Carroll county be, and it is hereby, au-
thorized, empowered and required to issue bonds up to, but not exceed-
ing, the amount of three hundred thousand dollars, in accordance with
the provisions hereinafter contained, in the name of the county of
Carroll, for the purpose’ of the building and permanent improve-
ment of the public roads ‘and ‘bridges in said county comprising that
part of the State highway system situated therein and comprising
the county system of roads as now or may hereafter be located and
established.

Sec. 2. The bonds issued in pursuance of this act shall be coupon
or registered bonds, etther or both, and shall be of denominations
of five hundred dollars or multiples thereof, payable not more than
thirty years from date and bearing interest, payable semi-annually
at a rate not exceeding six. per centum per annum, but with the pro-
visions giving to the said board of supervisors the right to redeem

said bonds, or any of them, outstanding after the expiration of five

years from their issuance. The said’bonds shall be known as “County
road and bridge improvement bonds” and shall be signed by the chair-
man of the board of supervisors of said county and countersigned by
the clerk of the said board. The form of said bonds and coupons
shall be determined by the board of supervisors, but they shall be
redeemable in lawful money at maturity for all taxes and other debts
due the county of Carroll, except school levies, and when paid by
the treasurer of the county, or received for taxes or other debts, said
bonds and coupons shall be marked “Paid and cancelled,” and such
cancelled bonds and coupons shall be destroyed in the presence of the
board of supervisors of Carroll county and the judge of the circuit
court of the said county. The bonds and the interest accruing thereon
shall be payable at the First National Bank of Galax, Virginia.

Sec. 3. The said board of supervisors is hereby authorized, em-
powered and required to make sale of said bonds after they are issued,
as hereinafter provided, but no bonds shall be sold for less than par
value thereof.
Sec. 4. After issuing the said bonds, or any part of them, the
said board of supervisors shall create a sinking fund to be applied
to the redemption, retirement and payment of the same in the manner
following: Five thousand dollars shall’ be retired ‘each year for
the first five years after their issuance; ten thousand dollars each year
for the twenty years next succeeding the expiration of the said five-
year period, and fifteen thousand dollars each ‘year for the five years
next succeeding the expiration of thé said twenty-year period. The
said board of supervisors shall; in order to create a fund sufficient to
pay the interest semi-annually on the bonds mentioned in this act and
to retire the said bonds as in this section provided, levy a tax on all
property liable to county and district tax in said county in addition
to the regular county levy for an amount sufficient to accomplish the
purpose aforesaid. . n i |

Sec. 5. All money received from the proceeds ‘of the sale of the
said bonds issued shall be paid to the treasurer of said county and
by him forthwith deposited at the best practical rate of interest ob-
tainable in some solvent bank or banks, giving adequate protection or
security therefor, as a matter of convenience, giving preference to
the two banks at the county seat of said county, dnd (subject to the
limitations and conditions hereinafter expressed) shall be expended
and disbursed by the county road board, hereinafter created for the
county of Carroll, by warrants upon the county treasurer authorized
by said board, signed by its chairman and countersigned by its clerk.
The said treasurer of the county of Carroll, and the surety or sure-
ties on his official bond, shall be liable for the amount received from
the sale of said bonds as though it were a county levy, and the treas-
urer of said county shall keep all moneys, arising or coming into his
hands by this act, separate and apart from all other funds coming
into his hands as said treasurer. oe

6. There is hereby created a county road board for the county
of Carroll composed of the members of the board of supervisors of
the said county, who shall be such members ex-officio, and two other
persons, to-wit: Doctor C. B. Nuckolls, of Hillsville, Virginia, and
S. Floyd Landreth, of Galax, Virginia. The said two persons shall
serve until January first, nineteen hundred and twenty-four, and at
the general election of nineteen hundred and twenty-three, and every
four years thereafter so long as the said county road board has
duties to perform under this act, their successors shall be elected from
the county at large by the qualified voters theteof for a term of four
years. In case of the death, resignation or removal of either of the
said two members, his successor shall be appointed for the unexpired
term by the majority of the remaining members of the said county
road board, which appointment, however, shall not be effective until
approved by the circuit court of Carroll county, or the judge thereof
in vacation. The members of the board of supervisors for their
attendance upon meetings of the county road board, held on days fixed
for regular or call meetings of the board of supervisors, shall receive
no compensation in addition to their pay as supervisors ; but for meet-
ings held at other times in performing the duties imposed upon them
by this act, they shall receive the same per diem and mileage as is
allowed by law for supervisors for attendance upon their regular
meetings as such. The county road board aforesaid shall select the
clerk of the circuit court to be the clerk of the said county road
board. The two members of the county road board, as heretofore
specifically named, one of whom shall be selected as chairman of the
board, shall each receive the same per diem and mileage for their
work as is allowed by law for supervisors for attending to their duties
as such, but they shall not receive such compensation for more than
thirty days in any one year. Each of the members of the said county
road board, before entering upon the discharge of the duties imposed
and required of them by this act, shall take an oath before the clerk
of the circuit court of Carroll county that he will faithfully discharge
all duties imposed and required of him by this act, and shall also
execute a bond before said clerk in the penalty of three thousand
dollars, payable to Carroll county conditioned on the faithful dis-
charge of the duties and requirements of this act. In case guaranty
or surety bonds are given, the premiums on the bonds shall be paid
by the county.

Sec. 7. The county road board for the county of Carroll, here-
inbefore created, shall have power and it is hereby directed to expend
the proceeds of the bond issue hereinbefore mentioned for the purpose
of the building and permanent improvement of the public roads and
bridges of the said county comprising the part of the State highway
system situated therein, mentioned and described in the acts of assem-
bly, nineteen hundred and eighteen, approved January thirty-first,
nineteen hundred and eighteen, entitled an act to establish the State
highway system, and on such roads and bridges in the said county
as may now or hereafter constitute the county highway system. In
the expenditure of said funds, however, preference shall be given to
the building and permanent improvement of the roads and bridges
comprising that part of the State highway system situated in said
county, and the said county road board is hereby authorized and
directed to enter into a contract with the State highway commission
to expend the same-on the roads and bridges comprising that part
of the State highway system situated in said county, as provided by
an act entitled an act to anticipate by counties, or otherwise, the
construction of the State highway system, approved March --_-,
nineteen hundred and twenty, in the following words, to-wit :

“1. Be it enacted by the general assembly of Virginia, That if
any county, or district, or private corporation, or person, desires to
immediately improve any section of the State highway system within
any county, which has been designated as a part of the State highway
system, the State highway commission may enter into an agreement
with said county officials, or other parties, to finance the construc-
tion, or reconstruction, of said highway, or section thereof, provided.
however, that the funds so advanced shall be without interest. Pro-
vided, further, that the commission shall be authorized to make re-
payments to said counties, or other parties, annually as the funds are
available and are apportioned for such construction, or reconstruc-
tion, until the amount so advanced has -been repaid.

“2. An emergency existing, this act shall be in force from its
passage.”

If such contract be entered into, the State highway commissioner
shall expend the said funds on the roads constituting that part of the
State highway system located in the county of Carroll, or on such
sections of such roads as may be selected by him, subject to the right
of appeal to the State highway commission, as provided by general
law. In such expenditure the said commissioner shall in all respects
be governed by the provisions of law relating to the expenditure of
other funds for the construction of the State highway system.

If for any reason the State highway. commission should not enter
into an agreement with the county road board for expending the pro-
ceeds of the said bond issue, as hereinbefore mentioned, on the
public roads and bridges comprising that part of the State highway
system situated in the aforesaid county of Carroll, then the said funds
shall be expended in the various districts of the county in proportion
to their respective taxable values on the public roads and bridges of
the county which may te designated as “feeder” roads, for the con-
struction of which “State money aid” may be obtained, and the road
or roads and bridges in the various districts of the county, as afore-
said, and on which the proceeds of the said bond issue shall be
expended for building and permanent improvement, are to be desig-
nated by the said county road board. If any of the said money be
expended on roads and bridges in connection with “State money aid,”
the work shall be done under the supervision and control of the
State highway commissioner, as provided by law; furthermore, the
said county road board may enter into an agreement with the State
highway commission for the repayment, without interest, of the pro-
ceeds of the bond issue hereinbefore mentioned or any portion of
same expended by it on the roads comprising the State highway
system located in said county, as provided for by an act entitled an
act to anticipate by counties, or otherwise, the construction of the
State highway system, approved March ___--_------------- , nineteen
hundred and twenty, as aforesaid, and when so refunded shall be
expended annually, as the various payments or amounts are so re-
funded by the State highway commission to the said county, in the
building and permanent improvement of the roads and bridges con-
stituting the system of county highways and shall be distributed
among the districts of the county in proportion to the taxable values
of the respective districts and on the roads and bridges which may
be designated by the county road board, but the roads and bridges
so designated must be those on which “State money aid” may be
obtained, and shall be expended, as hereinbefore provided, under the
supervision and control of the State highway commissioner and the
same shall be expended within four years from the date or dates on
which the said funds are refunded to the said county by the State
highway commission. :

Sec. 8. All of the proceeds of the bond issue authorized by this
act shall be expended within four years from the date this act takes
effect, and the county road board shall incorporate this provision
into the contract which they shall enter into with the State highway
commission, as provided in section seven of this act. -

Sec. 9. The board of supervisors shall, at their regular monthly
meeting in the month of April, nineteen hundred and twenty, pass a
resolution authorizing the issuing of the bonds mentioned in this
act, up to but not exceeding the amount of three hundred thousand
dollars, in accordance with the provisions contained in this act, in
the name of Carroll county, for the purposes set forth as provided
in sections one and two of this act, and they shall also pass a resolu-
tion authorizing the said bonds to be issued in three installments of
one hundred thousand dollars each, the same to be issued at such
time and times as the proceeds of the sale of said bonds will be
needed for the purposes of this act, and in accordance with the
understanding and contract to be entered into between the county
road board for the county of Carroll and the State highway com-
mission, as provided by an act entitled an act to anticipate by
counties, or otherwise, the construction of the State highway system,
approved March ~--------------- , nineteen hundred and twenty, as
named in section seven of this act.

The members of the said county road board shall meet at the
county seat of Carroll county in the month of April, nineteen hundred
and twenty, at the regular meeting day of the board of supervisors,
and organize and elect a chairman, as provided for by this act, and
shall take the oath and give bond as required of them by this act,
and the minutes and the records of this meeting, as well as all other
meetings held or to be held in the future shall be written up and
made a matter of record by the clerk of said county road board,
as required by law, and kept as a matter of information for the bene-
fit of the public.

Sec. 10. The purchasers of the bonds issued under this act shall
in no case be responsible for the application of the purchase money.

Sec. 11. For receiving and disbursing the money derived from
the sale'of the bonds issued in pursuance of this act, the county treas-
urer shall receive as compensation for his services one-fourth of one
per centum of the amount of the proceeds of the sale of such bonds,
and in addition the reasonable costs to him of an additional surety
bond, if such additional bond should be deemed necessary by the
judge of the circuit court of Carroll county, in which case the judge
shall fix the amount of the penalty of the said bond, and the said
treasurer shall receive annually a commission for collecting the tax
levies imposed by the board of supervisors in pursuance of this act,
and the amount of said commission shall be fixed by the board of
supervisors but shall not exceed the sum of two per centum on all
tax levies imposed and collected under this act.
Sec. 12. All acts and parts of acts in conflict with this act are
hereby repealed.

Sec. 13. An emergency existing, this act shall be in force from
its passage.