Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1899-12-08
THE COUNTY BOND BILL.

III - COUN DONO DILL.
The following bill, offered in the
House of Delegates on Wednesday by
Mr.. Hume, was passed in that body
yesterday:
A BILL 10 authorize the board of su-
pervisors of Alexandria county TO
borrow mcucy by the issue of bonds
to repair and improve and increase
the public roads of said county, aud
to authorize tbs qualified voters of
said county TO vote on the question.
W aereas it is deemed important to
the business and social interest OF the
county that good roads, in Sufficient
number, should be had and kept in re-
pair TOR public use; therefore,
l. Be it enacted by the General As
semtly of Virginia, That the board OF
supervisors of Alexandria county be,
aud they are, hereby authorized TO issue
bonds 10 the game and ON behalf of Al
exandria county, to be called 'road i'm.
provement bonds" for sum not ex-
ceediug one hundred and fifty thousand
dollars (S150 ,000.00), aud TO sell the said
bonds under such conditions as are
hereinafter prescribed, and with the
proceeds OF such sale to repair or i'm.
prove the public roads now in use in
said county, and to open and construct
new roads in said county.
That the bonds issued in pursuance of
this act shall be coupon bonds OF not
less ia deno mination than two hundred
dollars (S2O0.0W, nor more than two
thousand dollars (S2, 100000; each pay
able 10 not less than ten years or more
than forty years from their date; and
bearing interest, payable annually, at
rate not exceeding four centum per ar
mum, the said board to have the right
to redeem any of said bonds after the
expiration of ten years. The said
bonds may be divided into series, pay
a aaie at different dates. They shall be
issued 10 the name of Alexandra cour
y, shall be signed by the chairman OF
the board OF supervisors of said county,
sttested by the clerk of the county court
thereof, and shall have affixed thereto
the seal of the said board OF supervis-
orr.
3 The said board OF supervi:- :
ors are empowered to make sale
of said bonds. but no bond shall
be sold for less than the pars
value thereof, and the said bonds and
coupons for interest thereon shall be re :
deemable in lawful money at maturity,
and shall be receivable ct maturity for
all taxes and other debts due to the
said county OF Alexandra, except school
levies.
4. Tnat the form of said bonds and
coupons shall be determined by the
said board of supervisors.
5. That all moneys realized from
said bonds shall be received by the
treasurer ofSAlexaDdria county and
accounted for by him ; he shall keep o
separate account of the fund to be
known as the "road improvement
fund.- and shall be liable on his official
5ond for the proper custody and dis
bursement of the same; and shall De
entitled to receive for his services the
snm of two hundred dollars (S2OO, ,OO)
from the proceeds of the sale OF said
bonds.
6 That the bonds and coupons issued
under this act shall be redeemable at
tne Office of the treasurer of Alexandria
county, and when paid by him or re-
ceived for taxes or other debts shall be
marked paid and cancelled.
7. Tnat said bonds shall be exempt
from all taxation by the said county.
s. That the said board of supervisors
shall create a sinking fund TO be ap-
nl;ed to the redemption and pay yment
If the bonds issued under and oy
authority of this act, and shall auuuai-
10 mill such bonds are paid, pay over
n the sinking fnnd commissioners, pre-
v;ded for in this act, the sum OF three
thousand dollars (S3 600 OO) and shall
nav the interest on whatever oonos VI
money that may be held by the SIN sloe <
nnd commissioners the same as II they
were held bv auy other person, anu
sban provide for the payment OF all
money to the sinking fund commission
ars and all interest up on all bonds out
of IS ths he eeperal road levy or levies OF the
ooSntv for road purposes, wn!cl
law shall be fixed by e statute
and it snail not exceed the sum o. o,
fftv cents per anpum on every que
bundred dollars of taxable property
within the county. Tho
The Judge OF the county cour., .he .he
tressurer of the county, the clerk OF Cns
oonnty court. the chairman OF the ooato
of snnervisors and commissioner OF the
ravenue "a shall compose board known
ss - the road Improvement conn missione,s
of o the the sinking fund, and shall nave AVE, .od od
,amsr y, uuu 70 invest any money deposited
pJm pn;,b the treasurer OF Alexandria coun-
'. W.T. ,o their credit from time to time,
W 'stinc such security therefore as may q
ha approved by any three OF tneiI a nun, u
Ser Se "e eFc,ps that be funds entrusted &c &c
tb pe' r. custody shall not be Loaned u
wv w. - other use of the county ,;s
a"5 p5rovided. that the board Of sppersn
ora shall not expend any OF the pr pr;
ceeds received from the sale oa sne homo sr
bonds until they have frs. gwen .a VSHy ST y
in the sum of one hundreo aau d;t;ones M
thonssnd ~ dollar, (s15O, ,OO0, condilloneS y
70 faithfully and honestly dlsourse ;.;an. ;arc
mud in accordance with the proVlsloi;. ~; :.
of,his act, and security taken upon sa,, ss,,
hond shall be that of scme respoi s,o,, ae
;ncorporased company row au1hof,Ia. VIZ.
to Give such bonds il the State OF fn
oinla,