Chap. 235.—An ACT to authorize the board of supervisors of Albemarle county
to negotiate a loan and issue bonds of said county for the purpose of im-
proving and repairing the courthouse of said county, and to levy a special
county tax in said county to pay said bonds and the interest tts thereon.

B 514]
Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Albemarle county be, and 1s hereby, author-
ized to negotiate a loan from time to time and issue bonds of said
county therefor, for an aggregate amount not exceeding fifteen thou-
sand dollars ($15 000.00), to be used in the improvement and repair
of the courthouse of said county.

2. That the bonds to be issued hereunder shall bear interest at
the rate of not more than five per centum (5%) per annum, payable
semi-annually, shall be issued by the board of supervisors of such
county and shall be signed by the chairman of said board of super-
visors and have the seal of said board attached and attested by the
clerk of said board, and shall be in such denominations and payable
at such time or times as the board of supervisors may elect, and said
bonds shall not be sold at less than par, and each of said bonds
issued hereunder shall have written or printed on the face thereof
the following words, to-wit: “This bond and the interest thereon
is to be paid by a special tax to be levied in the county of Albemarle.”

3. The board of supervisors of Albemarle county, after said loan
has been negotiated and the bonds issued, when the county levy is
made or imposed in said county, shall levy a tax on all property
now or hereafter liable to local taxation in said county, not in con-
flict with general law, sufficient to meet the interest on said bonds
as they mature, and to create a sinking fund to pay the principal
thereof, the amount of said sinking fund to be fixed by said board,
and to be invested by the treasurer of said county, under the super-
vision and direction of said board of supervisors in such manner
as said board may direct, until the same shall be needed to pay the
principal of said bonds and shall then be used for that purpose, and
from year to year said levy or assessment shall be made as long as
it may be necessary to meet said interest and to provide for the pay-
ment of the principal of said bonds.

4. For the reason that an emergency exists, this act shall be in
force from its passage.