Chap. 254.—An ACT authorizing the town council of the town of Eastville in
Northampton county to borrow not exceeding $15,000, and to issue bonds
therefor, for the purpose of grading, draining, paving and otherwise im-
proving the streets in the said town. [{H B 525]

Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That the
town council of the town of Eastville, in Northampton county, Vir-
ginia, be, and is hereby, authorized and empowered to borrow not
to exceed the sum of fifteen thousand dollars and to issue bonds
therefor, for the purpose of grading, draining, paving and otherwise
improving the streets in said town. .

2. The said bonds may be either coupon or registered in such
denomination as the said council may prescribe, and shall bear in-
terest at a rate of not exceeding six per centum per annum. The
principal of said bonds shall be payable in twenty years from their
date, or at such other time or times as the said council may provide.
The said bonds shall be signed by the mayor of said town and
countersigned by the clerk, and shall be negotiated or sold in such
manner as may be prescribed by the town council, provided they
shall not be so sold or negotiated for less than their par value, and
the same shall not be issued until the question of whether or not
the said bonds shall be so issued and sold for the purposes named
shall first be submitted to the qualified voters of the town of East-
ville, at an election to be called, at any time within one year from
the passage of this act, by the said council by proper ordinance,
which election shall, in all respects, be conducted under the general
law governing special elections; provided further, that the ordinance
calling said special election shall recite the total amount of bonds
proposed to be issued, and the rate of interest to be paid. If, at the
election to be so called, a majority of the qualified voters voting favor
the issue and sale of such bonds as proposed in said ordinance, then,
the council shall proceed to issue and sell the same as herein provided.

3. The amounts necessary -to pay the interest on the said bonds
and to provide a sinking fund with which to pay the principal when
it becomes due, shall be taken out of the regular town levy, as already
provided by law, providing for making the levy and collecting the
same in said town.

4. An emergency existing, this act shall be in force from its

passage.