CHAP. 189.—An ACT to authorize the school board of Plymouth magis-
terial district, Lunenburg county, Virginia, to borrow money for the
purpose to pay off school indebtedness in said district, and to execute
bond therefor not exceeding $3,500.00 in amount. ‘ (S. B. 141.)

Approved March 16, 1916.

1. Be it enacted by the general assembly of Virginia, That
the school board of Plymouth magisterial district, Lunenburg
county, Virginia, be authorized and empowered to borrow money
not to exceed the sum of thirty-five hundred dollars ($3,500),
the same to be used for the purpose to pay off school indebted-
ness in said district, and to defray school operating expenses for
the present session.

2. The said school board may execute its bond, not to ex-
ceed the said sum of thirty-five hundred dollars ($3,500), the
said bond to bear interest not to exceed six per centum (6%)
per annum, payable annually, and the principal to be paid on or
before February first, nineteen hundred and twenty-one, and
to be a lien upon all the school property of the said district. The
school property of said district shall be pledged for the payment
of the principal and interest and the said bond shall be in the
form following:

Know all men by these presents, that the school board of
Plymouth magisterial district, Lunenburg county, Virginia, is
justly indebted to ........... ccc ce we eens , or order in the
£UM Of 2... ccc cece ec cet ee eee dollars, and bearing interest
at the rate of six per centum (6%) per annum from date, pay-
able annually, until payment of the principal sum. The said
bond to be non-taxable for county and district purposes, with
right of the said school board at any time after twelve months
from the date of said bond, uncn giving thirty days’ notice in
writing-to the holder of the said bond, to call in and pay off the
said bond, interest thereon to cease from and after the expira-
tion of such notice.

In testimony whereof, the said school board of Plymouth
magisterial district, Lunenburg county, Virginia, has caused
the ccrporate seal of the same to be affixed, this the ..........
day of ............ ccc cece nineteen hundred and .........

3. That in negotiating the said bond the same shall not be
sold for Jess than its face value, and the said school board shall
provide for the pavment of the accruing interest, and also for
the principal of said bond in such manner and by such means as
it shall be necessarv out of the district school funds; and the
trustees of the said district to further secure the payment cf the
caid bond and of all interest that may accrue thereon, shall exe-
cute a deed of trust on all the school property in the said district.

4. The said bond may be executed and negotiated by the
said school board for the purpose of raising the said sm of
money, or any part thereof, only for the purpose hereinbefore
set out.

5. The necessity of raising the money for the purpose of
running the school in said district, creates an emergency, and
this act shall be in force from its passage.