Chap. 59.—An ACT to authorize the town of Onancock, in the county of
Accomac, Virginia, to borrow money. (H. B. 204 )

Approved March 10, 1914.

1. Be it enacted by the general assembly of Virginia, That
the mayor and council of the town of Onancock be, and they are
hereby, authorized and empowered to borrow for said corporation,
and for the purpose of extending the water works in said town and
for other purposes, a sum of money not exceeding ten thousand
dollars by the issue and sale of the bonds of said corporation as
hereinafter provided.

2. Said bonds shall be issued in denomination of one hundred
dollars, or the multiple thereof, and bear interest at a rate not
exceeding six percentum per annum. Said interest to be paid semi-
annually on the first day of January and the first day of July, by
the treasurer of said town, at his office in said town. The principal
of said bonds shall be payable in thirty years from date or upon
the call of said corporation at any time after the expiration of ten
vears from the date of issue. Said bonds shall be signed by the
mayor of said town and countersigned by the clerk of “the council,
and shall be sold and negotiated in such manner as may be pre-
scribed by the said mayor and council; provided, that said bonds
shall not be sold for less than their par value.