Chap. 204.—An ACT to provide how the school board of the Yokum station
district, No. 5, of Lee county, may issue bonds of the Yokum station district,
No. 5, not exceeding $15,000.00 for the purpose of paying off the indebted-
ness of said school district and how the said bonds shall be issued and pay-
able, and to provide that said bonds shall be a lien on all the school prop-
erty of the said district. And to provide how a levy to pay the interest and
sinking fund on said bonds shall be laid by the board of supervisors of said
county on the taxable property of said district, and to provide that said levy
shall not exceed the twenty-five cents provided for in section 2, of chapter
398, of the acts of the general assembly, approved March 20, 1920.

{H B 205]
Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That the
school board of the Yokum station district number five, of the county
of Lee, be authorized and empowered to issue bonds immediately
and from time to time on the Yokum station district number five,
of the county of Lee, not to exceed fifteen thousand dollars ($15,-
000.00), for the purpose of paying off the indebtedness of the said
school board of the said Yokum station district number five, of the
county of Lee, such bonds to be payable or redeemable at such time
or times not to exceed ten years from the date of issue and to bear
interest at a rate not to exceed six per centum payable. semi-annually,
and to be of such denominations and to be either coupon or registered,
as said school board of the Yokum station district number five,
of the county of Lee, may determine, provided, that such bonds shall
not be sold at less than their par value. The said school property of
the said Yokum station district number five shall be pledged for
the payment of the principal and interest thereof according to their
tenor and date.

2. The board of supervisors of Lee county shall annually fix
and order a special levy on all the property located in said Yokum
station district number five, of the county of Lee, subject to levy
for such purpose, of such amount as will be sufficient to pay the
interest on said bonds, and to create a sinking fund for the payment
of the principal thereof at maturity ; the said levy herein provided for
shall not exceed the twenty-five cents levy provided for in section
two, of chapter three hundred and ninety-eight, of the acts of the
general assembly of Virginia, approved March twentieth, nineteen
hundred and twenty.

3. It appearing that the public interest requires that the bond
issue herein provided by the act be carried out without delay, an
emergency is hereby declared to exist, and the act shall be in force
from its passage.