Chap. 28.—An ACT to empower the council of the town of Brookneal in the
county of Campbell to issue and sell bonds for the purpose of building,
repairing and maintaining streets, sidewalks and water mains, provided
that the question of such bond issue, for the purposes named, be first
submitted to the qualified voters of said town and to authorize such
council to call a special election for the submission of the same to the
voters thereof. (H. B. 65)

Approved February 10, 1915.

1. Be it enacted by the general assembly of Virginia, That the
council of the town of Brookneal, in the county of Campbell, be, and it
is hereby, authorized to issue and sell bonds of the said town for an
amount not exceeding twenty-five thousand dollars, the proceeds of which
shall be used by said town for the purpose of building, repairing and
maintaining streets, sidewalks, water mains, and lights, or for any of
said purposes.

2. The bonds herein provided for shall be coupon bonds. They shall
be issued in such denominations as the council may prescribe; they
shall bear interest at a rate not exceeding six per centum per annum,
payable at such time and place as the said council may prescribe; they
shall be made to mature at the end of thirty years from their date,
but redeemable after fifteen years, at the option of the council at any
time, and they shall be signed by the mayor and countersigned by the
clerk of said council, for and in behalf of the said town of Brookneal.
with the seal of the town attached.

3. But the said council shall not proceed to act hereunder until the
question of whether or not the said bonds shall be so issued and sold
for the purposes named, shall first be submitted to the qualified voters
of the town of Brookneal, at a special election to be called by the council
for that purpose at any time within one year from the passage of this
act; which said special election shal] be called by proper ordinance, and
in all other respects be conducted under the general laws governing spe-
cial elections, except the officers conducting said elections shall make
their return directly to the county clerk of Campbell, and also to the
council of the said town; provided, further, that the ordinance calling
said special election shall recite the total amount of bonds proposed to
be issued, the rate of interest they shall bear, and the amount to be
issued for each of the several purposes named herein, but such ordinance
shall provide that such election is to be held in order that the qualified
voters may vote as to whether or not there shall be an issue of bonds
for any one or more of the purposes aforesaid, but the amount proposed
for each purpose shall be named in the ordinance. If, after the election
to be so called, a majority of the qualified voters should cast their ballot
in favor of the issue of such bonds as may have been proposed in such
ordinance, then the council shall proceed to issue and sell the same
as herein provided.

4. The said council shall prescribe the manner of sale and the terms
upon which said bonds shal] be sold, provided the same shall not be
sold for less than par. It shall provide by proper tax levy or appro-
priation for the payment of interest on same and the creation of a sink-
ing fund to retire said bonds at maturity.