Chap. 56.—An ACT to amend and re-enact section 59 of an act entitled an
act to provide a new charter for the city of Bristol, and to repeal all
other acts or parts of acts in conflict therewith, approved March 14,
1908. (S. B. 7)

Approved February 15, 1915.

Whereas, section fifty-nine of an act approved March fourteenth, nine-
teen hundred and eight, entitled an act to provide a new charter for the
city of Bristol and to repeal all other acts or parts of acts in conflict there-
with, provides that the rate of taxation levied on the real and personal
property of said city shall be limited; and

Whereas, it is considered that it is to the best interest of the said
city that said limitation of said rate of taxation should be removed.

‘1. Be it enacted by the general assembly of Virginia, That section
fifty-nine of an act to provide a new charter for the city of Bristol, and
to repeal all other acts or parts of acts in conflict therewith, approved
March fourteenth, nineteen hundred and eight, be amended and re-enacted
so as to read as follows:

59. The council may, in the name and for the use of the city, contract
debis and cause to be issued therefor certificates, notes, or bonds, but no
debt of the city shall be payable more than thirty-four years from the
date thereof; provided, that the council shall not have power to con-
tract debts for the city or issue evidence thereof, whether certificates,
notes or bonds, for sums which, when added to the debt of the city then
existing, shall cause the total amount of the indebtedness of the city to be
greater than fifteen per centum of the value of the real and personal
estate in the city as assessed for taxation, except for the issue of bonds
otherwise provided by law. Said council is hereby expressly authorized to
execute and issue such certificates, notes or bonds in the name of said
city for the purpose of erecting any public school building, jail, or other
public building deemed necessary for the public use and benefit.

The city council shall have the power, by a two-thirds vote, to exempt
from city taxation any manufacturing establishment for a period not
exceeding five years. /

On account of, the urgent need of funds to complete the erection of
a high school building now under construction, an emergency is declared
to exist, and this act shall be in force from its passage.