Chap. 38.—An ACT to authorize the council of the town of Suffolk to bor-
row money and issue bonds therefor.

Approved February 19, 1910.

1. Be it enacted by the general assembly of Virginia, That the town
of Suffolk be, and hereby is, authorized to borrow for said corporation,
in addition to the amount now authorized by law, for such purposes of
said town as the council may deem necessary, 2 sum of money not ex-
ceeding the sum of fifty thousand’ dollars, this additional issue not being
in excess of the constitutional limitation on the issue and sale of bonds
of the said corporation.

2. That said bonds shall be registered or coupon, shall be issued in
such denominations as said council shall prescribe, and shall bear inter-
est at a rate not to exceed six per centum, payable semi-annually. The
principal of said bonds shall be payable fifty 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 sinkmg fund for the redemption of said bonds.