Chap. 43.—An ACT to authorize the board of supervisors of Pulaski county t
borrow money for the construction of and repair to the bridge across Ne\
river at Towe’s ferry, in Pulaski county.

Approved December 21, 1901.

1. Be it enacted by the general assembly of Virgimia, That the boar
of supervisors of Pulaski county be, and they are hereby, authorized t
borrow money, not exceeding eighteen thousand dollars, with which t
pay outstanding county warrants, issued in payment for the constructio:
of and repairs to the iron bridge across New river, at Towe’s ferry, 1
Pulaski county, Virginia.

2. The said loan shall be effected by issuing the bonds of the county
signed by the chairman of said board, with the seal of the board theret
affixed, and attested by the clerk of the said board. Said bonds shall b
pavable and redeemable at such periods as mav be prescribed by sat
board, provided the said periods do not exceed nine vears after date o
issue. The said bonds to be for the sum of one thousand dollars each, 0
mutiples thereof, with coupons attached, for semi-annual interest. an
in all other respects said bonds shall be as said board may prescribe, t
be set forth on the face of the bonds.

3. The said board of supervisors may fix the rate of interest which th
said bonds shall bear, but said rate shall not exceed the rate of six pe
centum per annum.

4. The said board of supervisors shall have full power to negotiate th
42 ACTS OF ASSEMBLY.

said bonds through an agent, or in any way they may deem best: pro-
vided, that said board shall not sell or otherwise dispose of any of saic
bonds at less than their par value, and shall deposit the proceeds from
the sale of said bonds in any bank in Pulaski county, subject to their
order, and disburse the same in payment of the warrants aforesaid.

5. The payment of the interest upon said bonds, and the principal
thereof, when called or due, shall be provided for by said board by a
special tax, to be known as “the bridge tax,” to be levied on all the land
and personal property in the present limits of the respective road dis
tricts of Pulaski county as a part of the road levy.

6. The funds arising from said bridge tax shall be kept separate from
all other funds, and applied to no other purpose than to the payment of
the said bonds and interest until the same shall be fully discharged, but
any balance then remaining shall be disposed of as the said board of
supervisors shall determine.

7. Said bonds and coupons shall be exempt from all county taxes in the
county of Pulaski, Virginia.

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