Chap. 38.—An ACT to authorize the town of Cape Charles, in Northamp-
ton county, to issue bonds and borrow money thereon for the purpose
of funding or redeeming certain outstanding bonds known as water
bonds, maturing on the llth day of May, A. D. 1916, and to extend
and improve the water or sewer systems of the said town.

Approved February 14, 1912.

1. Be it enacted by the general assembly of Virginia, That
for the purpose of funding or redeeming certain of its outstand-
ing bonds, bearing date on the eleventh day of May, Anno
Domini eighteen hundred and ninety-six, and maturing on the
eleventh day of May, Anno Domini nineteen hundred and six-
teen, and in order to improve and extend the water and sewer
systems, respectively, of the town of Cape Charles, in North-
ampton county, the council thereof is hereby authorized and
empowered to borrow the sum of twenty thousand dollars, or
so much thereof as may not exceed its constitutional limit of
bond issues, and to issue coupon bonds therefor signed by the
mayor and attested by the clerk, payable not exceeding twenty
years from the date thereof, redeemable at the pleasure of the
council five (5) years thereafter, and bearing interest at a rate
not exceeding six per centum (6%) per annum, payable semi-
annually wheresover therein designated: provided, however, that
such bonds shall not be sold for less than their nominal or par
value.