An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Law Body
Chap. 305.—An ACT to validate the issuance of $200,000 of bonds by the tow:
of South Boston, Virginia, and to authorize the issuance of the same and t
provide for the levy of a tax to pay the interest on said bonds and provid
for a sinking fund. {H B 521
Approved March 20, 1922.
Whereas, the freeholders of the town of South Boston, Virginia
voting at an election legally called and held on January fourth, nine
teen hundred and twenty-two, voted in favor of the issuance by the
town of South Boston, of two hundred thousand dollars of bonds
for the following purposes:
Ninety thousand dollars of bonds for the purpose of funding the
existing indebtedness of the said town of South Boston, now evi-
denced by notes and certificates of indebtedness issued by said town
to contractors for street improvement work done in said town.
Sixty thousand dollars of bonds for the purpose of constructing
a high school building in the town of South Boston, for the use of
the public schools of the town of South Boston.
Fifty thousand dollars of bonds for the purpose of laying and
constructing a water and sewer line to the western part of the town
of South Boston, known as the West End, and
Whereas, acting’ in pursuance of the authority of said election, the
council of the town of South Boston, on January thirteenth, nineteen
hundred and twenty-two, passed an ordinance that the said bonds
should be isued ; and
Whereas, it is the desire of the said town of South Boston that
there be removed any question regarding the validity of the said
bonds so to be issued, or the right and power of the council of the
said town to issue the said bonds; and that the said bonds be de-
clared valid by the general assembly of Virginia; and that there be
conferred upon the council of the town of South Boston full power
and authority to levy upon the property situate within the said town
a tax sufficient to pay the interest on the said bonds and to provide
a sufficient sinking fund to pay the said bonds at their maturity;
therefore,
1. Be it enacted by the general assembly of Virginia, That the
council of the town of South Boston may issue bonds of the town
of South Boston in the aggregate principal sum of two hundred thou-
sand dollars, for the following purposes:
Ninety thousand dollars of bonds for the purpose of funding the
existing indebtedness of the said town of South Boston now evidenced
by notes and certificates of indebtedness issued by said town to con-,
tractors for street improvement work done in said town.
Sixty thousand dollars of bonds for the purpose of constructing
a high school building in the town of South Boston, for the use of
the public schools of the town of South Boston.
Fifty thousand dollars of bonds for the purpose of laying and
constructing a water and sewer line to the western part of the town
of South Boston, known as the West End.
Said bonds shall be numbered consecutively from one upward, of
the denomination of one thousand dollars each; shall be dated Feb-
ruary first, nineteen hundred and twenty-two; shall be payable Feb-
ruary first, nineteen hundred and forty-two, and shall bear interest
at the rate of not exceeding six per centum per annum, payable semi-
annually, on the first day of February and August in each year after
date of said bonds, and at the maturity of said bonds.
Said bonds shall be coupon bonds with the privilege of conversion
s. They shall be signed by the mayor of said
y the clerk of said town, and the corporate seal
» thereto affixed; and the coupons to be attached
be authenticated by the fac simile signatures of
:, Said bonds and coupons shall be substantially
m:
$1,000.00
TED STATES OF AMERICA
MONWEALTH OF VIRGINIA
OWN OF SOUTH BOSTON
TEMENT AND FUNDING BOND.
these presents: That the town of South Boston,
ion of the Commonwealth of Virginia, for value
yes itself indebted and promises to pay to the
ond be converted into registered bond, to the
reof, the sum of one thousand dollars ($1,000.00)
February, nineteen hundred and forty-two, to-
thereon from the date thereof until the payment
sum, at the rate of _-_.---------- per centum
semi-annually on the first day of February and
and at the maturity of this bond, upon presenta-
{ the annexed coupons as they severally become
be converted into a registered bond, to the regis-
Both principal and interest of this bond are
of the United States of America of the present
and fineness, or its equivalent in value, at
National Bank of Commrece ------------- _ in
k, N. Y.
the holder this bond will, upon presentation to
town of South Boston, be converted into a regis-
annexed coupons detached and cancelled, and
Ider entered hereon and in books kept in the
er, and thereafter both principal and interest will
he registered holder thereof, and this bond will
upon presentation to said treasurer, with a writ-
- acknowledged or proved, such transfer to be
said books.
of an issue of ------.-_---------_+--------— _
nd tenor, numbered from one to ~-_-_----_-__— _
inclusive, issued pursuant to section twenty-two
eral assembly of Virginia entitled an act to in-
of South Boston, in the county of Halifax, ap-
rtieth, eighteen hundred and eighty-eight, as
ant to the afhrmative vote of a majority of the
‘e registered voters and residents of said town,
n duly called and held on the fourth day of
ndred and twenty-two, and by virtue of an ordi-
ogle =
nance entitled, “An ordinance authorizing an issuance of two hundred
thousand dollars improvement and funding bonds, and providing for
the payment of principal and interest on said bonds,” duly adopted
by the council of said town on the thirteenth day of January, nine-
teen hundred and twenty-two, and pursuant to an act of the general
assembly of Virginia, approved ~-------------.
It is hereby certified and recited that all conditions, acts and
things required by the Constitution and statutes of the Common-
wealth of Virginia to exist, to have happened and to be performed
precedent to and in the issuance of this bond exist, have happened
and have been performed and that the issue of bonds of which this
is one, together with all other indebtedness of said town, is within
every debt and other limit prescribed by the Constitution and laws
of said Commonwealth, and the faith and credit of said town are
hereby pledged irrevocably to the punctual payment of the principal
and interest of this bond according to its terms.
In witness whereof, the town of South Boston has caused these
presents to be signed by its mayor and attseted by its clerk, and its
corporate seal to be hereunto affixed and the interest coupons hereto
attached to be signed with the fac simile signatures of said mayor
and clerk, and this bond to be dated February first, nineteen hundred
and twenty-two.
Mayor
Attest:
BO Clerk. —
(Seal) (FORM OF COUPON)
$_-_--------------.--
The town of South Boston, in Virginia, will pay to the bearer
on the first day of ~---__-_-_--__-___ 19____, ~-----------------
~----------- + - dollars in gold coin of the United
States of America of the present standard of weight and fineness,
or its equivalent in value, at the National Bank of Commerce, in the
city of New York, N. Y., being ___..__-______ months’ interest then
due on its Improvement and Funding Bond Number __-________-_-_- ,
dated February first, nineteen hundred and twenty-two.
(CONVERSION CERTIFICATE)
I hereby certify that upon presentation of the within bond, with
a written request by the owner thereof, for its conversion into a
registered bond, I have this day cut off and destroyed __-________-_-
coupons attached hereto, numbered from __-.-----_- to __-_-.--_-..
inclusive, amounting in the aggregate to ($-------------- ) dollars,
and that within bond is hereby converted into a registered bond, with
the principal and interest hereof payable to --------------------- -
eee eee , assignee or legal representative
OS Treasurer.
Dated _._-.------------------ , 19_L_-.
Date of Name of
Registration. Registered holder. Registered by
OO Treasurer.
OO Treasurer.
Oe Treasurer.
Any bonds reciting that they are issued pursuant to this act, shall
in any suit, or proceeding involving their validity be conclusively
deemed to be fully authorized by this act and to have been issued,
sold, executed and delivered in conformity herewith and with all
other provisions and statutes applicable thereto, and shall be incon-
testible, anything herein or in other statutes to the contrary notwith-
standing, unless such suit, action or proceeding is begun prior to the
delivery of such bonds.
2. Until the principal and interest on said bonds shall be fully
paid there shall be levied and collected annually by tax on all prop-
erty in the town of South Boston subject to taxation under the gen-
eral laws of the State of Virginia, a sum sufficient to pay the interest
on all of said bonds outstanding as it becomes due, and a further
sum paid into a sinking fund sufficient to retire said bonds, at
maturity.
3. In view of the present financial necessities of the town and
the importance of issuing the said bonds promptly, an emergency is
declared to exist and this act shall be in effect from its passage.