Chap. 493.—An ACT to empower the town council of Berryville to borrow
money to construct an electric plant for lighting said town.

Approved February 27, 1896.

1. Be it enacted by the general assembly of Virginia, That the
town council of the corporation of Berryville, Clarke county, Vir-
ginia, be, and it is hereby, authorized and empowered to borrow,
upon the faith and credit of said town, a sum of money not exceed-
ing five thousand dollars, to be used in erecting and constructing
an electric light plant in said town; and if said town council should
deem it necessary, to rssue bonds upon the faith and credit of said
town for the amount so borrowed, not to exceed five thousand dollars,
said council is hereby fully empowered and authorized so to do;
said bonds, if issued, to bear interest at a rate not exceeding six per
centum per annum, payable annually or semi-annually, and to be
in such series and of such denominations and payable at such times
and in such manner as said council may see fit, and upon such con-
ditions as may be agreed upon by said council and parties with
whom it negotiates, or as said council may see proper to impose.
The town council shall embrace in its annual levy a sum sufficient
to pay the annual interest on the sum so borrowed, and shall also
provide by levy from year to year a sinking fund of not exceeding
ten per centum on every one hundred dolJars of taxable property
within the said town, which sinking fund shall be held and applied
to the payment of the principal of the debt so contracted by said
council.
2. This act shall be in force from its passage.