| AN ACT |
| |
| To provide for the construction of a Rail
Road Connection between the Orange & Alexandria and Manassas Gap
Railroads and the Richmond, Fredericksburg & Potomac Railroad. |
| |
| Passed February 19th, 1862 |
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| 1. Be it enacted by the General
Assembly, that the Richmond, Fredericksburg & Potomac Railroad Co.
be and they are hereby authorized, under the provisions of their
charters to extend their railroad from some point on the same between
Fredericksburg & Aqua Creek, so as to form a junction of their
railroad with the Orange & Alexandria and Manassas Gap Railroads
at the junction of the said two last named railroads, and passing
through or with a branch of the said connection extending to Evansport
or the mouth of Quantico Creek. |
| 2. For the purpose of
effecting the object of this Act, the Richmond F&P R. R. Co. are
hereby authorized to increase their capital stock in such amount as
they may deem most advisable, to the extent of Seventy five hundred
thousand in addition to its capital hitherto authorized, or the said
company, to such extent as they may deem advisable to do so, may
borrow money at a rate of interest not exceeding eight per centum per
annum, and issue proper certificates or evidences of debt therefore,
and make the same convertible into stock at the pleasure of the
holders and may secure the punctual payment of the principal and
interest of such loans by a deed of trust on all or any portion of the
property and franchises of the said company; Provided, that the
aggregate amount of stock and convertible loan issued under the
authority of this act shall not exceed the sum of seven hundred and
fifty thousand dollars; and Provided further, that no
certificate of loan convertible into stock or creating lien on or
mortgage of the property of this company, shall be issued by the said
company, unless the expediency of making a loan on such terms and of
issuing such certificates, shall have first been determined on at a
general meeting of the stockholders by two thirds of the votes which
could be legally given in favor of the same, and that no certificates
of debt issued under this act shall be sold at a less than eighty per
centum of the par value thereof; and provided, further, that the said
company shall not build any bridge over Acquia Creek or any other
creek below the head of tide water, without sufficient drawbridges or
openings therein to admit of the complete navigation of such creek. |
| 3. The Common Councils of the
city of Richmond and the town of Fredericksburg are hereby authorized
to subscribe for an amount not exceeding one thousand shares each, of
the said increased stock, or to take an amount equivalent at its par
value, of such convertible loan; provided, however, that no such
subscription shall be made by either of the said common councils until
the expediency they shall have been submitted to the vote of those
persons qualified to vote at the election of members of said common
councils, and shall receive the approval of three fifths of the votes
actually polled after ten days public notice of the time and place of
opening polls for the purpose. |
| 4. If the said RFP RR Co
shall no within four months from the passage of this act bonafid
commence the construction of said extension of their road, or shall
fail so far to complete the same within fifteen months from such
commencement, as to admit through transportation thereon, or shall
neglect at any time after such commencement, for two months to
prosecute the construction of said extension to completion, unless
prevented by the exigencies of the war, then the provisions of said
charter, so far as they exempt the property of said company from
taxation, shall be held and deemed inapplicable to the stock and
property created and acquired under the provisions of this act. |
| 5. In all respects, except as
to said exemption from taxation, the rights & franchises hereby
granted shall be subject to the provisions of Chapters 56, 57 and 61
of the Code of Virginia, and such further modifications as the General
Assembly may hereafter determine. |
| 6. If the RFP R. R. Co. shall
not within three months from the passage of this act, accept the
provision there of (notice of which acceptance shall be forthwith
communicated to the Governor of this Commonwealth), and commence the
work within four months from the passage of this Act or shall neglect
the prosecution of said work for two months as herein before provided,
then in any of these events, either the Manassas Gap Railroad Co. or
the Orange & Alexandria R. R. Co. shall be at liberty to accept
the same within one month thereafter (notice whereof shall be given in
like manner and upon such acceptance by either of said companies, the
company first so accepting shall thereupon have authority to construct
said railroad connection in like manner and with the same privileges
and under the same restrictions as are herein prescribed in reference
to the said RFP R. R. Co. except that such company so accepting said
provisions shall have one month from the date of such acceptance to
commence the construction of said work. |
| 7. And if the said Manassas
Gap R. R. Co. or the Orange & Alexandria R. R. Co. shall, as
herein before provided, accept the provisions of this act and enter
into the construction of said extension, all the work done in the
partial construction of said extension by the RFP RR Co. shall be
deemed to have been done by the said Orange & Alexandria R. R. Co.
or the Manassas Gap R. R. Co. so accepting & enter in upon said
construction and shall be held by it as its own property upon payment
therefore to the said RFP R. R. Co. of such amount of money as the
Board of Public Works shall determine to be the value thereof. |
| This act shall be in force
from its passage. |
| A copy from the Rolls. |
| Teste, Wm. F. Gordon, Jr., C. H. D. and V.
of R. |
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