Chap. 61.—An ACT amending and re-enacting the 7th and 8th sections of
an act passed February 18, 1856, entitled ‘an act to incorporate the
Norfolk City Water Company.

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Passed January 14, 1867.

* 1. Be it enacted by the general assembly, That the seventh
and eighth sections of the act entitled an act to incorporate
the Norfolk city water company, passed February the eigh-
teenth, eighteen hundred and fifty-six, be and the same are
hereby amended and re-enacted so as to read as follows:

Ҥ7. Be it further enacted, That in case the said city of
Norfolk should become a stockholder in said company, the
said city may issue bonds bearing interest not exceeding
eight per centum per annum, for the purpose of paying up
said stock; which bonds shall be known as the ‘ Norfolk
city water bonds,’ and shall not be applied or used for other
purposes; and all dividends or other income derived from
the stock of said city in said company or works, shall be ap-
plied exclusively to the payment of the interest and principal
of said bonds; and the councils of the said city are autho-
rized to levy a special tax, to be known as the ‘ water tax,’
on all real and leasehold propexty situated on such streets,
lanes and squares in the said city a8 the main or other pipes
of said company may pass along; che proceeds of which tax
shall be also applied exclusively to the payment of the inte-
rest and principal of the said bonds.

“$8. Be it further enacted, That said company may bor-
row money upon their bonds or other evidences of debt,
bearing interest not exceeding eight per centum per annum ;
which bonds may be secured by a pledge of the income and
property of said company, or may, by order of said city
council, be guaranteed by the said city of Norfolk.”

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