Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1849-05-02
(T3.)

he enacted by the general assembly, That
hereafter when any Joint stock COMPANY shall be
incorporated, or shall have been heretofore in
corpora,ed by the Legislature 10 construct any rail-
road turnpike through, by or near TO any county
within this commonwealth, the probable effect of
which when completed is likely TO be beneficial to
the population OF such county, 1t shall and may be
lawful for the the county of such county TO
enter upon their order book order requiring the
commissioners of elections at the general election for
members Of the general assembly in said county, TO
take the of the reeholderso the county on the
question, whether the county court, behalf the
people of said county, shall subscribe the stock of
said company and in said order said county court
shall designate the maximum amount proposed to be
subscribed which amount shall no case exceed one
third part of the stock TO be subscribed by others than
the state. And the said commissioners shall open
poll books at said election, and in all thing relating
thereto govern themselves by the first section of the
act, entitled can act to authorize the county court
of Augusta TO subscribe for stock in the Staunton
and James river turnpike company" passed March
twenty second, eighteen hundred and forty-se seven
That if upon the return OF said poll books, it
shall appear that three ths of the ireeholders of
said county voting in said election are in favor of
authorizing said county court to make said subscrp-
ton, it shall be the duty Of said court at its Nav
term next after the said election, to order the sher
if ofsad county to summon the acting Justices there
OF, to attend The next June term to carry out the
wishes of the freehoders,
That the acting justices being so summoned,
majority of the whole number in the county being
present, shall have power to determine what amount
OF the capitol stock, (nOt exceeding however in any
case the amount designated in the order ofthe coun
ty court aforesaid shall be subscribed for on behalf
of said county, and shall enter of record the amount
go agreed to be subscribed and thereupon the said
county court shall appoint agent make such sub
scriptlon, to be paid in such nstaments as NAV be
agreed upon by said county court, and as may be
called for by said company.
That for the purpose fpaying the quotas on
said stock as they may be called for or the install
GENTS of said subscription they may fall DUE the
said county court at its June term aforesaid shall
have power TO appoint agent'or agents to negoti
ate loan or loans in the name Of such agent or a.
gents for and behalf ofsuch county court and shall
at the same time levy the landed property of the
whole OF such county, including the corporate towns
within the same, such tax to pay the amount of
such subscription or of such loan or loans as NAV
be authorized and the interest thereon, as said court
may deem necessary and proper, and from. year to
year to repeat such assessments, until the subscrip-
ton or loan made by such court, together with ali
interest, shall be fully paid Prorided, That such
levy shall not for any year exceed one fifth ofthe
whole amount of such subscription.
That the stock in any company subscribed and
paid for by any county under the authoritt of this
act shall be vested in such county court for the use
and benefit of the county during the continuance of
the charter of the company land the court shall have
power from time TO time to appoint agent to rep
resent the said stock in the general OF other meeting
OF the stockholders Of The company, and also an a
gent to collect the dividends on said stock which
dividends said county court shall annually apply to
the diminution Of the land tax of snch county.
This act shall be in force from IFS passage.