Chap. 255.—An ACT to authorize the school boards of the several school dis-
tricts in the counties of this State to borrow money, and to issue bonds for
the purpose of erecting and furnishing school houses, and to provide for the
payment of such bonds and the interest to accrue thereon.

Approved March 15, 1906.

1. Be it enacted by the general assembly of Virginia, That whenever
the school board of any school district in any of the counties of this State
shall, bv resolution duly spread upon the minutes of the proceedings of
auch board, declare that an additional school-house or school-houses are
necessary to provide additional public school facilities for the children of
the school age in such district, and that the school funds of such district
will not be sufficient within three years from the date of said resolution
to provide such additional school building or buildings, and to furnish the
same, and the statement of facts contained in the resolution of such
school board shall be confirmed and approved by resolution of the board
of supervisors of the county wherein such school district’ is located, the
school board of any such district may, when authorized by a vote of a
majority of the qualified voters of any such district, as hereinafter pro-
vided, borrow money for the purpose of erecting a school-house or school-
houses therein and for furnishing the same, and may issue either regis-
tered or coupon bonds for the sums of money so borrowed ; the said bonds
to be payable at a period not exceeding thirty years after their date, and
to be made redeemable at the option of any such school board at any
time after five years from their date, and such bonds shall bear interest
at a rate not exceeding six per centum per annum, payable either an-
nually or semi-annually, as the school board may prescribe: provided, that
no such bonds shall be sold for less than their par value, and that at no
time shall the aggregate amount of bonds issued and outstanding in any
school district exceed seventeen per centum of the aggregate assessed
value of the real estate located in such school district.

2. That the said bonds shall be of such form and denomination as the
school board of any such school district by resolution spread upon the
minutes of the board, may prescribe, and shall be signed by the chair-
man and attested by the secretary of the board, and there shall be a lien
upon the school property erected and procured with the proceeds of the
sale of any such bonds for the payment of the principal thereof, and the
interest to accrue thereon; and if it shall be so stated on the face of the
bonds, there shall be a lien on all the school property of the school district
issuing and selling the same for the payment of the principal thereof
and the interest to accrue thereon.

3. That the proceeds realized from the sale of any such bonds issued
under the provisions of this act shall not be used for any other purposes
than that of erecting school buildings and furnishing the same.

4. That no bonds shall be issued under the provisions of this act unless
authorized by a vote of the majority of the qualified voters of the school
districts proposing to issue the same, at a special election to be ordered
and held as hereinafter provided.

5. When the resolutions of the school board and board of supervisors
shall be certified to the circuit court of the county in which any such
school district is located, together with the location of the school-house
or school-houses to be erected, with the plans, specifications, and estimated
cost thereof, approved by the district or division school superintendent.
the said court shall order a special election to be held in any such district
at such time and after such notice (which shall not be less than two
weeks), as the court may prescribe by order entered upon its minutes, to
pass upon the question whether such bonds shall be issued or not, for
the amount recommended by the school board of such district. And the
clerk of the court shall give the notice required by the court of such spe-
cial election by publication in some newspaper of the county in which
such school district is located, and if there be no newspaper published
in such county, then in a newspaper published in some adjoining county.
or nearby city or county, and by having the same posted by the sheriff
of the county in at least ten conspicuous points in any such school dis-
trict. which said notice shall state the amount of bonds to be issued and
the purpose of the proposed issue thereof. The clerk and sheriff of the
county shall each receive for their services hereunder two dollars, to be
paid out of the county treasury.

6. The board of supervisors shall prepare the tickets and all other
necessary details for such special election, and shall pay the expenses
thereof out of the funds of the county, and any such election shall be
conducted and held in like manner as regular elections, and the laws of
the State applying to general elections shall apply to such special elec-
tions, except as hereinafter provided, and the judges and clerks of the
regular elections in said district shall be the judges and clerks in any
such special election, and shall receive the same compensation; and the
voting precincts in any such district for general elections shall also te
the same for any such special elections.

7%. The judges and clerks of such special elections shall canvass the
vote and certify the same to the county clerk in the same manner as re-
quired by law in general elections, and on the second day following such
special election, it shall be the duty of the county clerk, the Common-
wealth’s attorney, and the commissioner of the revenue, who arc hereby
constituted a board of canvassers for that purpose, to meet in the clerk's
office of said county and to canvass the returns of such special election.
and certify the results ascertained by them to the board of supervisors
of the county, who shall spread the same upon the minutes of the board,
and when this shall have been done, if no notice of contest of said elec-
tion shall have been filed, within ten days after said election, the cer-
tificate of the canvassing board, hereby created, shall be conclusive of the
legality and regularity of said special election and of the result thereof.

8. All registered voters of any such school district who were qualitied
by the payment of their capitation taxes to vote in the last preceding
general election, shall be qualified to vote in any such special election.

9. From the school levies of any such school district there shall be
paid, as it matures, the interest on the bonds hereby authorized, and
there shall be set aside annually, as a sinking fund, such a sum as vill
provide for the payment of the principal when it matures. Such sink-
ing fund shall be invested in the bonds hereby authorized, or in such other
securities as the said board may, with the approval of the division super-
intendent of schools for said county, select. The said school board shall
annually report to the board of supervisors of the county the amount of
the debt outstanding and the amount and condition of the sinking fund.

10. This act shall not be construed to repeal or amend any special acts
passed by this or any previous general assembly, allowing or authorizing
any school district in this State to borrow money and to issue bonds
therefor.

11. An emergency existing, in that provision should be promptly made
to enable school boards desiring so to do to borrow money for the erection
of school-houses in order to have them ready for the next school session,
this act shall be in force from its passage.