Chap. 62.—An ACT to authorize the town council of the town of Gladeville,
in Wise county, to issue bonds to liquidate and pay off the indebtedness
of said town. (H. B. 85)

Approved February 15, 1915.

1. Be it enacted by the general assembly of Virginia, That the coun-
cil for the town of Gladeville, in Wise county, Virginia, be, and it is
hereby, authorized and empowered to issue and sell, at not less than par,
registered or coupon bonds to an amount not exceeding ten thousand
dollars, to be payable not exceeding twenty years after date, to bear
interest not exceeding the rate of six per centum per annum, which said
interest may be payable annually or semi-annually, payable at the office
of the treasurer of said town, or at such other place as the council of
said town may direct or designate. The bonds may be issued in denomi-
nations of one hundred dollars, or any multiple thereof, and shall be
signed by the mayor of said town, and countersigned by the recorder of
said town and under the seal of the corporation of Gladeville. The pro-
ceeds of the said bonds shall be used by the council of said town for the
purpose of liquidating and paying off the indebtedness of said town
existing at the time of the issuance of said bonds. The bonds may be
issued and sold from time to time; provided the total amount of bonds
issued under this act shall not exceed the sum of ten thousand dollars;
and provided that the bonds issued under this act shall be issued prior to
the first day of September, nineteen hundred and sixteen. The council of
said town shall have the power to redeem all or any of said bonds at such
time or times after their issuance as it shall prescribe in the ordinance di-
recting the issue of said bonds; provided that no bonds shall be issued
under this act until an election shall have been held in said town of Glade-
ville on the question of the issuance of said bonds and in which said elec-
tion a majority of the votes cast shall have been in favor of the issuance of
said bonds. Notice of said election shall be given at least twenty days
prior to said election by posting written or printed notices in at least
half a dozen different places in said town and one of which said notices
shall be posted at the front door of the court house in said town.
2. All acts in conflict with this act are hereby repealed.
8. An emergency existing for the passage of this act, the same sha:
be in force from its passage.