Chap. 85.—An ACT to authorize the trustees of the Clintwood school] district, in
Dickenson county, to issue bonds and use the proceeds to purchase a site and
erect thereon and furnish a school-house for said school district, and to author-
ize said trustees to sell the present school-house lot, and invest the proceeds in
another school-house lot.

Approved March 9, 1903.

Whereas, the school-house in the town of Clintwood, in Clintwood
school district, has been destroyed by fire; and,
Whereas, it 1s important that another school-house be erected in said
town as soon as possible for the accommodation of pupils desiring to
attend the school, thus creating an emergency which can be met only by a
special act of the legislature; therefore,

1. Be it enacted by the general assembly of Virginia, That the trustees
of the Clintwood school district be, and they hereby are, authorized and
empowered to issue, and sel] at not less than par, bonds to an amount not
less than three thousand dollars, nor more than seven thousand dollars,
tu be payable not exceeding twenty years after date, and to bear interest
not exceeding the rate of six per centum perannum. The said bonds mav
be issued in denominations of twenty-five dollars, or any multiple thereof,
and shall be signed by the chairman of said board of trustees, and counter-
signed by the clerk of said board. The proceeds of said bonds shall be
used by said school trustees in purchasing a site, and to erect thereon and
furnish a school-house for said school district.

The board of supervisors of Dickenson county is hereby authorized and
empowered, and it shall, until such time as said bonds are fully paid,
annually levy, upon the assessed value of all real and personal property
within said school district, such amounts of school district tax, in addition
to present district school taxes, as the trustees of said school district shall
certify to be necessary to pay the interest upon, and maintain a sinking
fund to pay the principal of said bonds at maturity.

The said school trustees shall annually certify to the board of super-
visors of Dickenson county, for levy under the provisions of this act, an
amount of district tax sufficient to pay the interest upon the bonds issued
hereunder, and to create a sinking fund of at least five per centum upon
the principal. The amount of said interest and sinking fund shall be a
first charge upon the funds received from said district school tax, and
said school trustees shall set aside the amount of said interest and sinking
fund received therefrom, and shall not use the same for any other purpose
whatever. The said school trustees shall annually invest the amount
received for the sinking fund in interest-bearing or dividend-paying se-
curities, which, in their judgment, are safe and not liable to fluctuation.
and shall so manage, control, sell, collect, and re-invest said sinking fund
ax in their judgment will be for the best interest of said school district.
The commissioner of the revenue for the western district of Dickenson
county shall annually extend the levies upon his books of the assessment
made in pursuance of this act upon the real and personal property within
the limits of said school district, and shall designate same as “District
School Tax,” in separate column.

The county treasurer shall annually collect the taxes levied in pursu-
ance of this act, and shall annually settle and account for the same in the
same manner that he settles and accounts for other school district taxes.

2. The trustees of said school district are hereby authorized and em-
powered to sell the present school-house lot, and invest the proceeds in
another school-house lot in the town of Clintwood, to be selected by said
trustees.

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