Chap. 5.—An ACT to authorize the board of supervisors of Augusta county te
issne time warrants to carry the present flouting debt of Augusta county
and to levy a tax to pay the interest upon said debt. and to establish a
sinking fund to pay off said debt in full. {HB 1]

Approved January 31, 1918.

1. Be it enacted by the general assembly of Virginia, That the
hoard of supervisors of Augusta county be authorized to issue time
Warrants at a rate of interest not to exceed six per centum per an-
hum to pay off and discharge the present floating debt upon said
county, amounting to two hundred and seven thousand and sixtv-
four dollars and seventy-seven cents ($207,064.77). created in the
building and maintenance of roads, and to renew said time war-
rants from time to time as may be necessary. provided that said
warrants shall only be issued for the present floating debt and none
other: and to provide for the retirement of said warrants the said
board of supervisors of Augusta county is authorized and empow-
ered to levy a special tax not exceeding twenty cents upon each one
hundred dollars assessed value of all tangible personal property and
real estate in said county to pay the interest upon said de t of two
hundred and seven thousand and sixty-four dollars and seventy-
seven cents, evidenced by said time warrants, and to establish a
~inking fund to be apphed to the payment of said floating debt, and
said time warrants evidencing said floating debt, and when the said
sinking fund shall extinguish the now existing floating debt above
provided for, the power and authority of said board of supervisors
to issue time warrants under this act shall terminate, and they are
not authorized to continue the levy above mentioned for any purpose
except that specifieally herein provided for.