Chap. 234.—An ACT to amend and re-enact an act entitled “an act to amend and
re-enact article 10 of an act to incorporate the town of Phebus, in Elizabeth

City county, approved January 22, 1900,” as amended by an act approved April
1902.

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Approved March 15, 1904.

1. Be it enacted by the general assembly of Virginia, That article ten
of an act entitled “an act to amend and re-enact article ten of an act to
incorporate the town of Phcebus, in Elizabeth City county, approved
January twenty-second, nineteen hundred,” approved April second, nine-
teen hundred and two, be amended and re-enacted: so as to read as fol-
lows:

Article 10. § 1. The council of the said town is hereby authorized and
empowered to borrow money in such sum or sums, not exceeding in the
aggregate, fifty thousand dollars, upon the faith, credit, and property
of the said town, and to issue bonds therefor, signed by the mayor and
attested by the recorder; but, provided, that such bonds shall not be
sold at less than their par value and bear interest at a rate not exceeding
six percentum per annum. The money hereby authorized to be bor-
rowed shal] be used for any one or more of the following purposes—
namely: to provide a suitable equinment against fire, erectine of school
buildings and improving the same, grading, paving, or otherwise im-
proving any one or more of the streets or avenues in said town or any
part or parts thereof, or of locating, instituting and maintaining sewers
and culverts in and along any of such streets or avenues, or any part or
parts thereof, or for their permanent municipal improvements. The
couneil of the said town shall make nroner provisions for the payment
of the annual interest upon such bonds as may be issued under this
article, and shall provide a sinking fund for their redemption at ma-
turity ; the coupons thereof shall be receivable for town taxes.