Chap. 132.—An ACT to authorize the mayor and council of the city of Wil-
liamsburg, in the county of James City, Virginia, to issue bonds and bor-
row money for the purpose of establishing a system of Water Works and
Fire Department.

Approved February 14, 1901.

1. Be it enacted by the general assembly of Virginia, That the mayor
and council of the city of Williamsburg be, and they are, hereby author-
ized and empowered to issue bonds of the said city and to borrow money,
not to exceed in the aggregate, the sum of thirty thousand dollars, as
hereinafter provided ; the proceeds from the sale of said bonds, or so
much thereof as may be necessary, to be expended in the establishment
of a system of water-works for fire- -extinguishing purposes and for
domestic uses, and for the equipment of a fire department for said city,
or such of the above purposes as may be prescribed by said council, and
to meet all expenses connected therewith as may be determined upon by
said council.

2. The said bonds shall be coupon bonds and shall be issued in denom-
inations of not less than five hundred dollars nor more than one thou-
sand dollars, in the discretion of said council, and shall bear interest at
a rate not exceeding six per centum per annum.

The interest on said bonds shall be paid semi-annually on the first
day of January and July of each year, and shall be payable at the office
of the treasurer of the county of James City, and the city of Williams-
burg, and at such bank or banking house as may be selected and desig-
nated by the said council. The principal of said bonds shall be payable
in thirty years from date of issue. The said bonds shall be signed by
the mayor and countersigned by the clerk of the council, and shall be
sold and negotiated in such manner as may be prescribed by the said
mayor and council: provided, that the said bonds shall not be sold for
less than their par value.

3. The council of the said city shall have full and unlimited control
of the expenditure of the funds derived from the sale of said bonds:
provided, that said bonds shall not be issued or negotiated until the
question has been submitted to a vote of the people of the said city, and
it shall appear by the report of the board of commissioners, which shall
be appointed by the judge of the court for the county of James City
and the city of Williamsburg, that a majority of the qualified voters of
said city, voting upon the question, are in favor of issuing said bonds,
and that said majority include a majority of the votes cast by free-
holders at such election.

4. The question shall be submitted to the qualified voters of the said
city on the third Thursday in May, nineteen hundred and one, and notice
of the time, place and object thereof shall be given by publication for
at least once a week for four consecutive weeks in the “Virginia gazette,”

a newspaper published in said city, and in such other manner as may
he deemed necessary and advisable by said council. The expenses of
said election shall be paid out of the treasury of the said city, and said
ection shall be conducted in such manner as may be prescribed by the
id council.

5. The result of said election, as reported by the commissioners men-
oned in section three of this act, shall be admitted to record in the
nurt for the county of James City and the city of Williamsburg, and
corded upon the minutes of the council of the city of Williamsburg,
nd shall constitute a basis for the issuance of the said bonds of the
id city.

6. The council of the said city shall, at each annual lev y, lay aside,
or the thirty years the bonds have to run, a sufficient amount to cover
ie interest on said bonds, and a further sum of not less than five hun-
red dollars each year, to be placed to the credit of the sinking fund,
) be created for the redemption of the said bonds, before any portion
icreof is appropriated to any other purposes; and at the maturity of
ie said bonds, upon the expiration of the said thirty years, the council
f said city shall make lawful provision for their payment.

7. The council may provide, by resolution passed by two-thirds of
1e entire council, that no corporation tax shall be levied or asscssed
pon said bonds.

8. Should any balance or excess remain to the credit of the said
ater-works and fire department fund, realized from the sale of said
onds, after the completion and equipment of the said system of water-
orks and fire department, the council of the said city is authorized
nd empowered to make such disposition of said balance or excess as to
hem may seem best for the public good.

9. All acts and parts of acts inconsistent with this act are hereby re-
ealed.

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