Chap. 261.—An ACT relating to the charter of the town of Port Royal, Va.
Approved March 15, 1906.

1. Be it enacted by the general assembly of Virginia, That in addi-
tion to the provisions of the charter of the town of Port Royal, as it now
exists, the following shall be a part of said charter:

1. The council shall control and manage the water works of said town,
either by itself or through such committees or agencies as it may adopt;
and the council shall prescribe and regulate the rates of charges to be
paid for the use of water furnished by the town to the citizens thereof,
and to persons outside the corporate limits thereof, who may wish to
purchase water from the town. They may impose fines and penalties for
the injury and abuse of said works, or property connected therewith, as
may be permitted by general law.

The council of the town of Port Royal, whenever three-fourths of its
members, by a recorded vote, decide that it is to the interest of the town
so to do, may borrow money to the extent prescribed by the Constitution
and laws of the State of Virginia, for the uses and purposes of the town,
by issuing bonds of the said town and selling the same for the purpose of
raising such money.

Any bonds which may be issued under this act may be either regis-
tered or coupon bonds, and shall be issued in such denominations and
hear such rate of interest, not exceeding the legal rate per centum per
annum, as may be determined by the council. Such bonds shall be made
pavable in not exceeding thirty years from their date, and may, at the
option of the council, be made redeemable after such time as the council
may prescribe; the interest shall be made payable annually, or semi-
annually, as the council may determine; and the council may exempt
any or all of such bonds from town taxes; in which case a clause to that
-Tect shall be inserted in each bond. The treasurer shall endorse on
each bond issued and sold a certificate to the effect that the town of Port
Roval has received the amount of said bond from the holder, and when
such certificate is so endorsed upon said bond, and signed by the treas-
urer the title to the purchaser shall in no case be questioned, nor shall
the purchaser, or any subsequent holder, be required to see to the proper
application of the money by the town, and the validity of such bonds
shall never thereafter be questioned. All bonds issued by virtue of this
act shall be signed by the mayor, and countersigned by the recorder, and
shall have the seal of the town affixed thereto, and said bonds shall be
issued and sold, and the proceeds used under the orders of the council.
Every bond issued by the council shall state on its face for what purpose
it was issued: provided, always, that no bonds shall be issued or sold for
the purpose of subscribing to the stock of any company for internal im-
provement or other purposes; and nothing contained in this charter
shall he held to authorize the council to endorse or guarantee the bonds
of anv person or corporation whatever.

The first election under this act shall be held on the second Tuesday in
June, nineteen hundred and seven, at such place in said town as shall be
designated by the council of the town; and biennially thereafter ther
shall be held an election of seven councilmen of the said town on the
second Tuesday in June, at such place and under such rules and regula-
tions and subject to such provisions as the council may prescribe. Notice
of the time and place of the holding of election under this act shall be
published at least ten days before the holding of such election by the
posting by the town sergeant of printed hand-bills in at least five public
places in said town. The councilmen under this act shall qualify on or
before the first day of September next succeeding their election.