CHAP. 303.--An ACT to authorize Northampton county to borrow money and issue bonds for a sum not exceeding $150,000 for the purpose of building public roads in the said county.

1. Be it enacted by the general assembly of Virginia, That the board of supervisors of Northampton county be, and they are hereby, authorized to borrow, from time to time, as maybe necessary, money not exceeding the sum of one hundred and fifty thousand dollars ($150,000) with which to establish and construct improved and permanent highways in the said county.

2. The said loan shall be effected by issuing bonds of the said county, signed by the chairman of the said board of supervisors, and countersigned by the clerk thereof, in denominations of five hundred dollars ($500) and one hundred dollars ($100) each, or either, as in the discretion of the said board may seem best, payable in not exceeding thirty (30) years after the date thereof, with coupons attached for the semi-annual payment of interest, after the rate of not exceeding six per centum (6%) per annum; provided, however, that any or all of the bonds shall, by the terms thereof, be made redeemable at the discretion of the said board at any time after the expiration of five (5) years from date of issue.

3. The said board shall have full power to negotiate the said bonds, either through an agent or by such other method as, in its discretion, may seem best, and deposit the proceeds in any of the banks of the said county of Northampton, subject to its order, pending the application of such proceeds to the purpose for which they are raised; provided, however, that the said bonds shall be so negotiated for no less than their nominal or par value, and that the same shall not be issued, except upon the approval of the majority of the citizens of the said county, who were qualified to vote in the last preceding general election held therein, such approval or non-approval, as the case may be, to be ascertained in an election to be held for that purpose upon an order of the circuit court of the said county, or the judge thereof in vacation, at any time within sixty (60) days after the enactment hereof, such elections to be conducted in the same manner and by the same officers of the said county who conducted the general elections next preceding the same.

4. The ballots to be used in such election shall be prepared as are ballots for other general elections, and shall contain the words "for the issue of bonds for public road improvement," and "against the issue of bonds for public road improvement"; and if upon the canvass of the ballots cast, it shall be found that a majority of those voting are in favor of such bond issue, the fact shall be so reported, as are the results of other general elections, and the board of supervisors upon receipt of notice of such results shall proceed immediately to prepare, execute and negotiate such bonds accordingly; provided, however, that if one or more of the magisterial districts of the said county shall cast a majority vote in favor of such bond issue, and one or more shall vote negatively thereon, the said board shall issue such bonds, in such proportion of the said sum of one hundred and fifty thousand dollars, only, as the road mileage of the districts or districts voting and in favor thereof shall bear to the aggregate road mileage of the said county, or as nearly as may reasonably be possible, the proceeds of such bonds so issued to be applied exclusively to road building in such magisterial districts.

5. The said board of supervisors, together with the road commission for Capeville magisterial district in the said county, created by an act of the general assembly of Virginia, approved February eighteenth, eighteen hundred and ninety-eight, and W. J. Sturgis, P. W. Tankard, G. E. Colbourn, W. E. Thomas, J. W. Chandler, C. D. Hurtt, J. L. Walker, Clarence Knight, of the Franktown magisterial district of the said county; G. W. Holland, W. L. Dalby, 0. F. Mears, L. W. Nottingham, Wm. H. Westcott, H. L. Thomas, T. P. Bell, John B. Dunton, of the Eastville magisterial district of the said county; John S. Wise, W. W. Dixon, Kemper Goffigon, Ruic Nottingham, C. F. Wilson, A. P. Scott, R. D. Stevenson, George F. Parramore, of the Capeville magisterial district of the said county, shall constitute a road board for the purpose of carrying into effect the provisions of this act, and the said board of supervisors, road commission for Capeville magisterial district, and other district members of the said road board, whose respective magisterial districts shall vote in favor of the said bond issue, are hereby authorized and empowered to adopt such methods and materials as, in their judgment, may seem best suited to the requirements of their respective districts, employ such engineers, road builders and operatives, upon such terms and for such compensation as to them may seem fit, and make all reasonable and proper regulations as to location, construction and maintenance of the roads to be constructed hereunder, and to do generally and perform all acts necessary of the effectuation of the intents and purposes hereof, and said road board created under this act shall cause its accounts to be audited annually and publish a full report of all receipts and expenditures in some newspaper in said county.

6. After issuing the bonds, or any of them provided for in this act, when the first levy is made by the said board of supervisors, a tax shall be levied on all property liable to State tax in each magisterial district in which the proceeds of such bonds have been or are to be expended, to pay interest on the bonds so issued and create a sinking fund to redeem the principal thereof at maturity; and from year to year such levy shall be made until the debt, together with interest thereon, is paid, the said levy not to exceed the sum of thirty cents on the hundred dollars of taxable property within such district or districts; provided, however, that if the fund arising from such levy shall prove insufficient to retire such bonds at maturity, an additional levy may be made of such percentage of said taxable property as will enable said county to retire such bonds.

7. Should all the magisterial districts of the said county
vote a majority in favor of the issue of such bonds, the fund arising therefrom shall be distributed among such districts for road building therein in such proportion as the road mileage of each district bears to the aggregate road mileage of the said county.

8. In the event of a vacancy, whether by death, resignation or removal from the district, in the membership of the said several district representatives on the said road board hereby created, save and except members of the said board of supervisors and road commission for Capeville magisterial district, shall be supplied by the surviving or remaining members of such magisterial district.

9. An emergency arising by reason of the importance of immediate execution of the provisions of this act, the same shall be in force from the date of its passage.