Chap. 129.—An ACT to empower the town of Colonial Beach, in the county of
Westmoreland, to borrow money and issue bonds.

Approved March 10, 1902.

1. Be it enacted by the general assembly of Virginia, That the town
council of the town of Colonial Beach, in the county of Westmoreland, be,
and they hereby are, authorized to borrow for said town for the purposes
of erecting a town hall, school-house, engine-house, and of improving
the streets of said town a sum of money not exceeding ten thousand dol-
lors by the issue and sale of bonds of the said corporation.

2. The said bonds shall be registered or coupon, shall be issued in
denominations of twenty-five dollars, or any multiple thereof, as the said
council may prescribe, and shall bear interest at a rate not to exceed six
per centum per annum, payable annually or semi-annually, as the said
council may prescribe. The principal of said bonds shall be payable ten
years after date, with the option of redeeming the same at any time after
the expiration of five years should the said council see fit so to prescribe.
The said bonds shall be signed by the mayor of said town as chairman of
the said council, and be countersigned by the clerk of said council, with
the corporate seal attached, and shall be sold and negotiated in such
manner and upon such terms as the council shall prescribe: provided,
that said bonds shall not be sold at less than their par value.

3. The said council shall have power to make annual appropriations
out of the revenue of the corporation to pay the interest on and to pro-
vide a sinking fund for the redemption of said bonds.
4. This act shall be in force from its passage.