Chap. 13.—An ACT fo amend and re-enact an act approved March 10, 1004.
entitled “an act to authorize the city of Portsmouth to iesue bonds to
build a schoolhouse and for other purposes.”

‘Approved February 14, 1906.

1. Be it enacted by the general assembly of Virginia, That the act ap-
proved March tenth, nineteen hundred and four, entitled “an act to au-
thorize the city of Portsmouth to issue bonds to build a schoolhouse anc
for other purposes” be amended and re-enacted so as to read as follows

That the council of the city of Portsmouth be, and it is hereby, au.
thorized, in order to build a schoolhouse, to provide for furnishing the
same, and for other school purpeses, to issue coupon or registered bonds
to be known as “Portsmouth school bonds,” in such denominations and a!
such a rate of interest as may be determined by said council: provided
however, that the whole amount of bonds issued under this bill shall no’
exceed forty-two thousand dollars, or such part thereof as shall bring the
amount borrowed within the constitutional limitation or municipal in.
debtedness, or by any limitation fixed by the charter of said city, and the
rate of interest on the same shall not exceed four per centum per annum.
payable semi-annually. .

The said bonds shall be made payable in thirty years after thei!
date, and be issued in the name of the city of Portsmouth and signed bs
the president of each branch of the council at the time said bonds are
issued and by the city treasurer, with the seal of the city thereto affixed
attested by the city clerk.

The said bonds shall be subject to no taxation whatever by the city of
Portsmouth, and may be disposed of in such manner as the said counci
may deem expedient: provided, however, that the same shall not be dis-
pesed of for less than their par value.

The said council shall, for the payment of the interest on said bonds
levy a special capitation tax, as provided by section owe hundred and
seventy-three of article thirteen of the Constitution of Virginia, or pro-
vide for the same out of the general levy.

2. An emergency existing, thie act shall he in force from its passage.