Chap. 22.—An ACT to authorize the submission to the legal voters of the
city of Winchester, Virginia, of the question whether or not they will
favor the issuance by said city of not more than $40,000.00 of electric
light bonds; and to authorize the issuance by said city of not more
than $40,000.00 of said bonds, the proceeds whereof shall be used for
the installation by said city of an electric lighting plant, if a majorit
of those voting vote in favor of such issuance. (H. B. 14.

Approved February 9, 1916.

Whereas, the common council of said city has requested
authority from the general assembly of Virginia to call a special
election to submit to the qualified voters of said city of Win-
chester whether or not a majority of those voting will favor
the issuance of not more than forty thousand dollars ($40,000)
of bonds, at such rate of interest as the common council of said
city of Winchester may determine, not to exceed five per centum
per annum, maturing not more than thirty years after date,
the council to determine the exact time of maturity, the pro-
ceeds of said bonds to be used to defray the cost of installing
an electric lighting plant in the city of Winchester, Virginia,
both to light the city and to furnish commercial lighting, ac-
cording to plans to be approved by the common council; and,

_ Whereas, if the bonds provided for by this act shall be
issued, the total bonded indebtedness of the city of Winchester
will be less than eighteen’ (18) per centum of the assessed valu-
ation of the real estate in said city, subject to taxation, as shown
by the last assessment for taxation; now, therefore,

1. Be it enacted by the general assembly of Virginia, That
the common council of the city of Winchester, Virginia, is au-
thorized at any time within one year after the passage of this
act, to order a special election in which the voters of said city
qualified to vote in general elections under the laws of the State,
may vote upon the question whether or not they favor or op-
pose the issuance of not more than forty thousand dollars
($40,000) of electric light bonds, said bonds to bear such in-
terest as the common council of Winchester may determine,
not to exceed five per centum per annum, to be in such denomi-
nations as the council may determine and to mature at such
time as the council may determine, not to be more than thirty
years after date. If a majority of those voting shall vote in
favor of the issuance of said bonds, said common council, by
proper resolution or ordinance may direct that they be issued
and executed on behalf of the city of Winchester and signed by
such officers or parties as the council shall name; provided said
bonds shall not exceed the aggregate hereinbefore named.

2. The proceeds from said bonds shall be wholly expended
in the installation of said electric lighting plant which shall fur-
nish lights for the streets, public squares and buildings of the
city of Winchester and also furnish lights to the residents of
the city of Winchester at such rates of compensation to the city
as the common council may determine.

3. Said bonds shall be in such form as the common council
of said city may determine.

4. Provision shall be made pursuant to existing law for
the creation of a sinking fund, applicable to the retirement of
said bonds.

5. It appearing that an emergency exists by reason of the
early expiration of the existing contract to light the streets of
the city of Winchester, it is ordered that this act shall be in
force from its passage.