CHAP. 394.—An ACT to authorize and empower the board of supervisors
of Buckingham county, from time to time, as necessary, upon the
petition of a majority of the qualified voters of said county to borrow
money and issue bonds for a sum not exceeding $50,000, for the pur-
pose of uniting the building in said county improved and permanent
highways either by the use of the State money aid fund, or by the
use of convicts and to further authorize and empower the said board
of supervisors upon the petition of a majority of the qualified voters
of any magisterial district to borrow money and issue bonds for a
sum not exceeding $25,000 for the purpose of uniting in the building
in such district of improved and permanent highways, either by the
use of the State money aid fund, or by the use of convicts.

(S. B. 418)
Approved March 20, 1916.

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Buckingham county be, and it is,
hereby authorized, in its discretion, upon petition of a majority
of the qualified voters of said county, to borrow, from time to
time, as necessary, money not exceeding fifty thousand dollars,
with which to establish and construct, on State money aid plan
improved and permanent highways in the county of Bucking-
ham. The board of supervisors shall contribute one-half of the
cost of constructing said permanent highways in said county
under the supervision and direction of the State highway com-
missioner or said board shall have power to contract for and
procure from the State, convicts and may work same upon the
pane under such provisions and regulations as shall seem to it
st.

2. Said loan or loans shall be effected by issuing bonds of
the county signed by the chairman of said board and counter-
signed by the clerk thereof, payable in not more than thirty
years from the date of issue of said bonds; the said bonds to be
in denomination of one thousand dollars and one hundred dol-
lars, each or either, as the said board may think best, with
coupons attached for the semi-annual interest, and the principal
shall be made to fall due in sums of not less than five hundred
dollars each year, so that all of the bonds shall become due and
be paid off in sums of not less than five hundred dollars each
consecutive year after the payment of them is begun, which
shall be at such time as said board thinks proper.

3. That the said board be, and it is, hereby authorized and
empowered, in its discretion, upon the petition of a majority of
the qualified voters of any magisterial district in said county,
to borrow, from time to time, as necessary, money not exceed-
ing twenty-five thousand dollars, with which to establish and
construct, on State money aid plan, improved and permanent
highways in such district. The board of supervisors shall con-
tribute one-half of the cost of constructing said permanent high-
ways in such district under the supervision and direction of
the State highway commissioner or said board shall have power
to contract for and procure from the State, convicts, and may
work same upon the roads under such provisions and regula-
tions as allowed by law. Such loan shall be effected by issue of
bonds. When a sale of bonds has been negotiated, the board of
supervisors shall issue the same. Such bonds may be either
registered or with coupons attached, as said board of super-
visors may prescribe, and shall have written or printed in each,
the following sentences: “These bonds are issued for road im-
provement in .............. magisterial district, but the full
faith and credit of the entire county or ................ is
hereby pledged for that payment, and a tax is to be levied upon
the property in said district to pay the interest on them and
to create a sinking fund sufficient in amount to pay them upon
maturity.” Said bonds shall be signed by the chairman and
countersigned by the clerk thereof, under the seal of the board;
shall be in denominations of one hundred dollars or some mul-
tiple thereof.

4. The said board of supervisors may fix the rate of in-
terest, which any and all of said bonds heretofore mentioned
shall bear, but such rate shall not exceed six per centum per
annum.

5. The said board of supervisors shall have full power to ne-
gotiate said bonds through an agent or in any way they think
best, and may deposit the proceeds in any one or more banks in
the city of Richmond, Virginia, which are State depositories, sub-
ject to their order, pending the application of such proceeds to
the purposes for which they are raised; provided, however that
they shall not negotiate six per centum bonds of the county for
less than par value.

6. On account of the necessity of immediate use of some
of the money to be raised, this act is declared an emergency act
and shall be in force from its passage.