Chap. 281.—An ACT to authorize the common council of the city of Fred-
ericksburg to execute and deliver the bonds of said city for ten thousand
dollars to the Assembly’s home and school at Fredericksburg, Virginia, and
to authorize that corporation in consideration thereof to provide instruction
to certain pupils of the free schools of said city.

Approved February 11, 1896.

Whereas the Assembly’s home and school at Fredericksburg, Vir-
ginia, a corporation created, organized and operating under an act of
the general assembly, approved December sixteenth, eighteen hun-
dred and ninety-three, has founded, equipped and is conducting a
seminary of learning in Fredericksburg called the Fredericksburg
collegiate institute, with ample buildings and grounds in said city,
owned by said corporation, in which collegiate institute a full corps
of teachers is employed in imparting instruction in the ancient and
modern languages, mathematicr, physical science, history and litera-
ture, equal in its grade to the instruction given in the colleges of
Virginia, and the successful operation of this collegiate institute
contributes largely to the growth and prosperity of Fredericksburg;
and,

Whereas the city of Fredericksburg is unable to provide a high
school supplementary to its public free schools, and it will promote
the value of these free schools and be of great advantage to the peo-
ple of Fredericksburg to secure instruction in said collegiate insti-
tute of a certain number of the pupils in said free schools who have
become proficient in the branches taught in said schools; and,

Whereas the said common council desire to be enabled to effect an
agreement in behalf of the people of said city whereby, in conside-
ration of the issuance and delivery to the Aseembly’s home and
school at Fredericksburg, Virginia, of the bonds of said city for the
sum of ten thousand dollars there shall be as many as ten of the
proficient pupils from said free schools taught annually in said col-
legiate institute in all said branches of learning conducted therein as
said pupils may be able to pursue: now, therefore,

1. Be it enacted by the general assembly of Virginia, That the
common council of the city of Fredericksburg be, and they are
hereby, authorized and empowered to have executed and delivered
to the Assembly’s home and school at Fredericksburg, Virginia, the
bonds of said city for the sum of ten thousand dollars. Said bonds
shall be either coupon or registered, and shall bear interest at the
rate of five per centum per annum, payable semi-annually, and shall
be exempted from municipal taxation by said city, and shall be
issued in multiples of one hundred and five hundred dollars, as said
common council shall determine. The principal of said bonds shall
be payable in thirty years from their date, or, upon the call of said com-
mon council, at any time after ten years from their date. Said bonds
shall have the corporate seal of the city affixed thereto, aud shal] be
sigoed by the mayor and treasurer of said city, and shall be attested
by the clerk of said council, and the coupons shall be signed by said
treasurer. ) ;

2. In order to provide for the payment of the accruing interest on
said bonds and of the principal thereof, the said common council
are hereby authorized and empowered to levy and collect such
amount of taxes as may be sufficient for the purpose upon the pro-
perty and other subjects of taxation which are taxable by said
council.

3. The said bonds shall be delivered to the Assembly’s home and
school at Fredericksburg, Virginia, so soon as that corporation shall
have executed and delivered to said common council an agreement
in writing, under its corporate seal, satisfactory in its provisions to
said council, binding the said corporation to apply said bonds to the
payment of the money expended by said corporation for the land
and buildings of said collegiate institute, and for the furniture and
equipment of said institute, and for no other purpose; and further
binding the Assembly’s home and schoul at Fredericksburg, in con-
sideration of said bonds delivered to it, to provide instruction annu-
ally in said institute,in aJl said branches of collegiate education
taught therein, for ten of the proficient pupils from the free schools
of Fredericksburg, so far as said pupils may be capable of receiving
such instruction, such pupils to be chosen and designated for such
instruction in said institute in such manner as said common coun-
cil shall prescribe, and such pupils to receive said instruction in
said institute for such time as said council shall prescribe, but not
more than ten such pupils to be entitled to said instruction in said
institute during any one session thereof.

4. The Assembly’s home and school at Fredericksburg, Virginia,
is hereby empowered to enter into and bind itself by such contract
with said common council providing for the education of pupils
from said free schools in said institute as is mentioned in the last
preceding section of this act.

5. This act shal] be in force from its passage.