CHAP. 114.—-An ACT to amend and re-enact section 7 of chapter 8 of
the charter of the city of Lynchburg, providing for the creation and
investment of a sinking fund by the said city, as amended by an act
of April 2, 1902.

Approved March 11, 1912.

1. Be it enacted by the general assembly of Virginia, That
section seven of chapter eight of the charter of the city of
Lynchburg, as amended by an act of April second, nineteen
hundred and two, be amended and re-enacted so as to read as
follows:

§7. There shall be set aside annually from the revenues of
the city, a sinking fund equal to one per centum on the aggre-
gate outstanding debt of the city, which by its terms is not
payable within one year, and on the debt of the city contracted
for a new water system for said city, or for improving the
present system, there may be set aside an additional fund equal
to two per centum of said debt contracted for a water system
for said city; said sinking fund shall be applied to the debt or
debts for the discharge of which it was created, and until as ap-
plied shall be invested, with its accumulations of interest, in
bonds of the United States, or of the State of Virginia, or of the
city of Lynchburg, or of any city in the State of Virginia hav-
Ing a population of ten thousand inhabitants or over, according
to the latest United States census.