CHAPTER 54

An Act to amend and reenact § 18, as amended, of Chapter 89 of the
Acts of Assembly of 1982, approved February 20, 1932, which pro-

ed a new charter for the city of Winchester, relating to bond

essues and indebtedness. tH 79]

Approved February 26, 1968

Be it enacted by the General Assembly of Virginia:
1. That § 18, as amended, of Chapter 39 of the Acts of Assembly of
1932, approved February 20, 1932, be amended and reenacted as follows:

§ 18. Bond Issues; Limitations of indebtedness.—The Council may.
in the name and for the use of the city, cause to be issued certificates of
debt or bonds for making any public improvements and for purchasing
and acquiring land or other property for school purposes, for public
school buildings and equipment thereof, for fire houses and necessary
equipment, for the purposes of financing the whole or part of the costs
incurred in any extension of city boundaries, for the erection of neces-
sary buildings, construction of viaducts, streets, drains, sewers, parks
and other public improvements, provided, that no such certificates of
debt or bonds shall be issued except by an ordinance adopted by a major-
ity vote of all members of the council and endorsed by a majority vote of
the qualified voters of the city voting on the question at an election for
such purpose to be called, held and conducted in accordance with the gen-
eral laws of the State now made and provided or hereafter adopted. All
bonds so issued shall be signed by the president of the council and the
treasurer of the city and the seal of the city shall be affixed and attested
by the city clerk. Said bonds shall be sold by resolution of the council and
the proceeds used for purposes for which issued, under the direction of
the council. Every such bond or other obligation issued by the council
hereunder shall state on its face for what purpose or purposes it is
issued and the proceeds shall be applied exclusively to the purpose or
purposes for which the same are issued. In the issuance of bonds and
other interest bearing obligations the city shall be subject to the limita-
tions as to amount and the manner of ascertaining such limited amount
provided in Section 127 of the Constitution of the Commonwealth of

irginia.