Chap. 530.—An ACT to authorize the council of the city of Bristol to issue
bonds to pay its bonded indebtedness.

Approved February 28, 1896.

Whereas the town of Goodson, now city of Bristol, Virginia, issued
its bonds for the purchase of certain lands known as the Jobnson
land puchase, which remain unpaid and outstanding, and which
will mature in the year eighteen hundred and ninety-eight, which
said bonds amount to the sum of fifteen thousand dollars; and
whereas it is desired by the authorities of said city of Bristol to
have the privilege of extending the time for the payment of said
bonds by the issuing of new bonds bearing interest at a rate not to
exceed six per centum per annum for so much of the said debt as re-
mains unpaid, or sell said bonds for the purpose of raising money to
pay off such of said bonds as remain unpaid; therefore, ;

1. Be it enacted by the general assembly of Virginia, That the
council for the city of Bristol, Virginia, formerly Goodson, Virginia,
be, and is hereby, authorized and empowered to issue coupon bonds
of said city to an amount not exceeding fifteen thousand dollars
with which to retire such bonds as are due and unpaid in the year
eighteen hundred and ninety-eight, or may sell said bonds for the
purpose of raising money to pay off such of said bonds as remain
unpaid. Said bonds shall be of the denomination’ of one hundred
dollars or its multiple, bearing interest at a rate not to exceed six per
centum per annum, interest payable semi-annually at the office of the
treasurer of said city at Bristol, Virginia, or at some bank or
banking house of one of the following cities, namely: Richmond,
Virginia; Lynchburg, Virginia; Baltimore, Maryland; New York,
state of New York, as the council for said city may direct or desig-
nate; shall be in such form as the said council may prescribe; shall
be signed by the mayor of said city of Bristol, countersigned by the
clerk of said council under the seal of said city. Said bonds shall
run for a period not to exceed thirty years, redeemable at the pleas-
ure of said city after ten years from the date of their issue.

2. This act shall be in force from its passage.
518 ACTS OF ASSEMBLY.