Chap. 343.—An ACT to validate certain obligations of the city of Norfk |
and authorizing the said city to refund or renew the same by issuin= ,
renewal or other obligations. (H B 3h; |

Approved March 16, 1918.

1. Be it enacted by the general assembly of Virginia, That
notes of the city of Norfolk, numbered seven hundred and forty
_ (740), seven hundred and forty-one (741), seven hundred and forty:
two (742) and seven hundred and forty-three (743), for twenty
five thousand ($25,000.00) dollars each, dated September twentt-
first, nineteen hundred and seventeen, and payable fourteen (14°
months from date, and notes numbered seven hundred and forty-
four (744), seven hundred and forty-five (745), seven hundred an
forty-six (746) and seven hundred and forty-seven (747). ec"
in the principal sum of twenty-five thousand ($25,000.00) dollars
dated September twenty-fourth, nineteen hundred and seventel.
and payable twenty-six (26) months after date, are and the same
are hereby declared to be valid obligations of the city of Norfolk,
any provision of the charter of the said city or general law to the
vontrary notwithstanding.

2. At the maturity of the said several notes mentioned in sec-
tion one, the council of the city of Norfolk, by ordinance, shall
have the power and authority, any provision of the charter or
general law to the contrary notwithstanding, to issue renewal or
other notes or obligations not to exceed two hundred thousand
($200,000.00) dollars in the aggregate principal sum of said notes
or obligations, payable at such time or times not more than three
(3) years from the date thereof, and bearing such rate of interest
not exceeding six per centum per annum, and be of such denomina-
tion and form as the city council of said city shall provide.

8. Said notes or any part thereof may either be issued in ex-
change for a like face amount of said notes mentioned in section
one of this act, or sold for cash, as may be provided for by the
council of said city, and the proceeds thereof used to retire the
notes mentioned in section one of this act.

4. No limitation upon the amount of indebtedness of the city
of Norfolk shall prevent the issuance of said notes, nor shall said
notes be considered as increasing the indebtedness of the city of
Norfolk in ascertaining the power of said city to become otherwise
or further indebted.