Chap. 126.—An ACT to authorize Cumberland county, from time to time
as necessary, to borrow money and issue bonds for a sum not exceeding
twenty-five thousand dollars, in addition to the amount of twenty
thousand dollars mentioned in the act approved March 25. 1914, pages
007 and 508 of the acts of the general assembly of Virginia, 1914. for
the purpose of uniting in the building of roads in the said county of
Cumberland upon the State aid plan. (H. B. 127)

Approved March 18, 1115.

Be it enacted by the general assembly of Virginia, That the board
of supervisors of Cumberland county be, and they are hereby authorized,
in their discretion, to borrow from time to time as necessary, money
not exceeding twenty-five thousand dollars, mentioned in the act ap-
proved March twenty-fifth, nineteen hundred and fourteen, pages five
hundred and seven and eight of the acts of the general assembly of
Virginia, for the year nineteen hundred and fourteen, with which to
establish and construct on the State money aid plan improved and per-
manent highways in the county of Cumberland, to constitute half of
the cost of constructing said permanent highways in said county, under
the supervision and direction of the State highway commissioner.

Said loan or loans shall be effected by issuing bonds of the county
signed by the chairman of said board and countersigned by the clerk
thereof, payable in not more than forty years from the date of issue
of said bonds; the said bonds to be in denominations of one thousand
dollars and five hundred dollars each, as the said board may think best
with coupons attached for semi-annual interest, and the principal shall
be made to fall due in sums of not less than five hundred dollars each,
year, so that all of the bonds shall become due and be paid off in sums
of not less than five hundred dollars each consecutive year after the
payment of them is hegun, which shall be January first, nineteen hun-
dred and seventeen, or sooner if the said hoard shall think proper.

The said board of supervisors may fix the rate of interest which said
bonds shall bear, but such rates shall not exceed six per centum per
annum.

The said board of supervisors shall have full power to negotiate said
bonds through an agent or agents any way they think best, and may
deposit the proceeds in any one or more banks of Richmond, Virginia,
which are State depositories, subject to the order of the said board of
supervisors, pending the application of such proceeds to the purposes for
which they are raised; provided, however, that they shall not negotiate
the six per centum bonds of the county for less than par value.

On account of the necessity of immediate use of the money to be
raised, this act is declared an emergency act and shall be in force from
its passage.