Chap. 39.—An ACT to authorize the council of the town of Suffolk to bor-
row money and issue bonds therefor.

Approved February 19, 1906.

1. Be it enacted by the general assembly of Virginia, That the council
of Suffolk be, and hereby is, authorized to borrow for said corporation,
in addition to the amounti now authorized by law, for the purpose of pav-
ing and grading its streets, and for such other purposes of said town as
the council may deem necessary, a sum of money not exceeding the sum
of one hundred and fifteen thousand dollars, this additional issue not
being in excess of the constitutional limitation by the issue and sale of
bonds of the said corporation.

2. The said bonds shall be registered or coupon, shall be issued in such
denominations as said council shall prescribe, and shall bear interest
at a rate not to exceed six per centum, payable semi-annually. The prin-
cipal of said bonds shall be payable thirty years after their dates. The
said bonds shall be signed by the president of the council, attested by the
clerk of the council of said town, with the corporate seal attached, and
shall be sold and negotiated in such manner and upon such terms as the
council shall prescribe: provided, that said bonds shall not be sold for less
than their par value.

3. The council of said town shall have power to make annual appro-
priations out of the revenue of the corporation to pay such interest and to
provide a sinking fund for the redemption of said bonds.