CHAP. 49.—An ACT to authorize the town of Eastville, in Northampton
county, to issue bonds ard to borrow money for the purpose of paying
the balance due for completing the work of macadamizing the roads
or streets through the town.

Approved February 20, 1912.

1. Be it enacted by the general assembly of Virginia, That
the council of the town of Eastville, in Northampton county,
may, for and in the name of the town, cause to be issued bonds,
the form of which shall be prescribed by the council, not exceed-
ing the amount of two thousand five hundred dollars, said bonds
to be signed by the mayor and attested by the clerk of said
town, bearing interest at a rate not exceeding six per centum per
annum and payable not exceeding ten years from date, and
redeemable after one year at the pleasure of the council of said
town: provided, however, that the money arising from the sale
of said bonds shall be used and applied by the said council exclu-
sively for the payment of the oustanding indebtedness of said
town incurred in the building and completing the work of macad-
amizing the streets or roads through town, and provided, fur-
ther, that the amounts necessary for paying the interest on these
additional bonds and providing a sinking fund to be used in
payment of the principal when due, shall be taken out of the
regular town levy as already provided for, for laying and collect-
ing same. |

2. There being an emergency of immediate demands upon the
town treasury in this case, this act shall be in force from its
passage.