Chap. 191.—An ACT to authorize the town of Onancock, in the county of Acco-
mac, Virginia, to borrow money.

Approved March 15, 1904.

1. Be it enacted by the general assembly of Virginia, That the council
of the town of Onancock be, and they are hereby, authorized and em-
powered to borrow the sum of three thousand dollars for the purpose of
building and extending additional water works, and to issue bonds of the
said town therefor as hereinafter provided for. :

2. Said bonds shall be issued in the denomination of one hundred
dollars, or multiples thereof, and bear interest at a rate of not exceeding
six per centum per annum. Said interest shall be paid semi-annually.
The principal of said bonds shall be payable in twenty years from the
date of same, or at any time after the expiration of ten years from the
date of issue, at the option of the said town council. Said bonds shall
be signed by the mayor of said town, and countersigned by the clerk of
the council, and shall be sold and negotiated in such manner as may be
prescribed by the council of said town. But said bonds shall not be sold
for less than their par value.