Chap. 68.—An ACT to authorize the school board of Butts’ Road magisterial
district, No. 4, of the county of Norfolk, to borrow money for the purpose
of school improvements in said district, and to issue bonds therefor, not
exceeding $5,600 in amount.

Approved February 28, 1910.

1. Be it enacted by the general assembly of Virginia, That the
school board of Butts’ Road magisterial district, number four, of the
county of Norfolk be authorized and empowered to borrow money, not
to exceed the sum of five thousand dollars, the same to be used for
school improvements in said district.

2. That the said school board may issue bonds not to exceed the
said sum of five thousand dollars; the said bonds to be in denominations
of five hundred dollars and one thousand dollars, to bear interest not
to exceed five per centum per annum, payable semi-annually, with in-
terest coupons attached thereto, and the principal thereof to be paid
in twenty years after the date thereof, and to be a lien upon all the
school property of said school district number four, of the county of
Norfolk. The said school property shall be pledged for the payment of
the principal and interest thereof, according to their tenor and date, and
the said bonds shall be in the form following:

Know all men bv these presents, that the school board of Butts’
Road magisterial district, number four, of the county of Norfolk, in
the State of Virginia, is justly indebted to or bearer in the sum
of —____—__——— dollars, and bearing interest at the rate of five per
centum per annum from date, payable semi-annually on surrender of
the proper coupons attached hereto, until payment of the principal
sum. In testimony whereof the said schoo] board of Butts’ Road mag-
isterial district, number four, of the county of Norfolk, has caused
the corporate seal of the same to be affixed and these presents to be signed
by its chairman and attested by its clerk this of —————- nine-
teen hundred and

3. That in making sale of the said bonds that shall be issued in
accordance with the provisions of this act at no time shall the said
bonds be sold for less than their par value. And the said schoo] board
shall provide for the payment of the accruing interest, and also for the
principal of said bonds, in such a manner and by such means as it shall
deem necessary.

4+. The said bonds may be issued and sold by the said school board
for the purpose of raising the said sum of money, or any part thereof,
omnly for the purnoses hereinbefore set out.

5. The necessity of raising money for the purposes of school im-
provements in this district creates an emergency, and this act shall be
nm force from its passage.