Chap. 87.—An ACT to authorize the council of the city of Portsmouth,
to issue bonds for the Purpose of retiring and refunding certain out-
standing bonds of said city.

‘ Approved February 3, 1888.

1. Be it enacted by the general assembly of Virginia, That
the council of the city of Portsmouth, be and they are hereby
authorized to issue and sell either registered or coupon bonds
of the said city to an amount not exceeding one hundred
thousand dollars, payable at such time not exceeding thirty
years, and at such arate of interest not exceeding six per centum
per annum as the ae ee city may deem best: provided

ey 4
however that the moncy arising from the sale of said bonds
shall be used and applied by the said council for the payment
and redemption of such of the coupon bonds of the city of
Portsmouth, issued by said city by authority of an act of the
general assembly of Virginia, approved the twenty-sixth day
of February, eighteen hundred and fifty-eight, and have not
been redeemed, which will fall due in the year eighteen hun-
dred and eighty-eight; and for the payment and redemption
of such of the city of Portsmouth paving bonds, issued by said
city by authority of an act of the general assembly, approved
the twenty-seventh day of February, eighteen hundred and
seventy-nine, as will fall due in the year eighteen hundred
and eighty-nine.

2. And the money arising from the sale of said bonds shall
not be used for any other purpose whatever.

3. This act shall be in force from its passage.