CHAP. 127.—An ACT to authorize and empower the town of Smithfield, in Isle of
Wight county, to borrow money for street improvement.

Approved April 4, 1903.

1. Be it enacted by the general assembly of Virginia, That the mayor
and council of the town of Smithfield, in Isle of Wight county, Virginia,
be, and they are hereby, authorized and empowered to borrow for said
town the sum of five thousand dollars for the purpose of improving the
streets of said town, by issuing bonds of said town as hereinafter provided.

2. Said bonds shall be registered with the treasurer of said town, and
shall be issued in denominations of five hundred dollars each, and bear
interest at a rate not exceeding six per centum per annum from date, said
interest to be paid annually. The principal of said bonds shall be paid
thirty years after date, or upon the call of the town any time after ten
years from date of issue. Said bonds shall be signed by the mayor and
countersigned by the clerk of the council, and shall be sold and negotiated
ax the council may think to the best interest of said town.

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