Chap. 201.—An ACT to amend and re-enact an act entitled an act to authorize
the school board of Butts road magisterial district, No. 4, of the county of
Norfolk, to borrow money for the purpose of school improvements in said
district, and to issue bonds therefor, not exceeding $50,000.00 in amount,
approved February 25, 1920. [H B 197]

Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That an
act entitled an act to authorize the school board of Butts road magis-
terial district, number four, of the county of Norfolk, to borrow
money for the purpose of school improvements in said district, and
to issue bonds therefor, not exceeding fifty thousand dollars in
amount, approved February twenty-fifth, nineteen hundred and twenty,
be amended and re-enacted so as to read as follows:

2. That the school board of Butts road magisterial district,
number four, of the county of Norfolk, be authorized and empowered
to borrow money not to exceed the sum of thirty thousand dollars,
the same to be used for school improvements in said district.

3. That the said school board shall issue bonds not to exceed
the said sum of thirty thousand dollars, the said bonds to be in
denominations of one thousand dollars, to bear interest at the rate of
six per centum per annum, payable semi-annually, with interest cou-
pons thereto attached, and the principal thereof to be paid twenty
years after date thereof, and to be a lien upon all the school property
of said school district number four of the county of Norfolk. The
said school property shall be pledged for the payment of the principal
and interest thereof, according to their tenor and date, and the said
bonds shall be in the form following:

Know all men by these presents: That the school board of Butts
road magisterial district, number four, of the county of Norfolk, in
the State of Virginia, is justly indebted to __---------__- , or bearer,
inthe sum of ~-_---_---_-_- dollars, redeemable twenty years after
date hereof, and bearing interest at the rate of six per centum per
annum from date, payable semi-annually on surrender of the proper
coupons hereto attached, until payment of the principal sum.

“in testimony whereof the sard school board of Butts road magis-
terial district number four, of the county of Norfolk, has caused the
corporate seal to be affixed, and these presents to be signed by its
chairman and attested by its clerk, this _________- day of _-.---__-- |
nineteen hundred and ~_____-___---.. .

4. That in making sale of the said bonds that shall be issued ir
accordance with the provisions of this act, at no time shall the saic
bonds be sold for less than their par value; and the said school board
shall provide for the payment of the accruing interest, and also for
the principal of said bonds, in such manner and by such means as it
shall deem necessary.

5. The said bonds shall be issued and sold by the said school
board for the purpose of raising said sum of money. or any part
thereof, only for the purpose herein set out.

6. The necessity ‘of raising money for the purposes of school
improvements in this district creates an emergency, and this act shall
be in force from its passage.