Chap. 205.—An ACT to authorize the city of Newport News to borrow $150,-
000.00 and issue bonds therefor, for the purpose of refunding the out-
standing short-term military highway notes. [H B 239]

Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That in
addition to any other indebtedness of the city of Newport News and
the certificates of debt or bonds which the said city has, from time to
time issued, the council of the said city may, by a four-fifths vote
thereof, in the name of and for the use ‘of said city, cause to be
issued bonds or certificates of indebtedness (the form of which shall
be prescribed by the council) to the amount of one hundred and
fifty thousand dollars, bearing interest at a rate not to exceed six
per centum per annum, and payable in the discretion of the council
in not more than thirty years, which said bonds may be either sinking
fund or serial bonds, as the council may determine. One hundred
thousand dollars of the amount received from the sale thereof shall
be used for the purpose of paying off and redeeming a like amount
of short term notes heretofore issued by the city, dated March first,
nineteen hundred and seventeen, known as military highway notes,
and the balance is to be used to reimburse the general fund of the city
for the military highway notes heretofore paid therefrom.

2. In that the said notes dated March first, nineteen hundred
and seventeen, will shortly mature, an emergency is declared, and
this act shall be in force. from its passage.