Chap. 359.—An ACT authorizing the district school board of Sussex Court
House school district, in Sussex county, to borrow money for the purpose of
paying the existing indebtedness of said board; and to require the board of
supervisors to levy a tax to pay the interest thereon, and to create a sinking
fund to redeem the principal thereof at maturity. (S B 419]

Approved March 23, 1922.

1. Be it enacted by the general assembly of Virginia, That the
district school board of Sussex Court House school district, of Sussex
county, is hereby authorized to borrow a sum not exceeding nine
thousand dollars, and to issue bonds therefor, the said bonds to be
issued in such denominations and to be payable at such time or times
not exceeding fifteen years from the date thereof as the said board
may provide; they shall bear interest at not exceeding six per centum
per annum, and shall not be sold for less than par.

The bonds issued by said district school board in pursuance of
this act shall be signed by the chairman and countersigned by the
clerk thereof, and the proceeds shall be used to discharge the existing
indebtedness of said district school board other than money due the
literary fund. The said indebtedness shall be ascertained by the
circuit court of the county, or the judge thereof in vacation, on
petition of the said district school board. .

After the issuance of the bonds provided for in this act, the
board of supervisors of Sussex county shall annually levy a tax, at
a rate not in conflict with general law, on all the property subject
to local school taxation in such district to pay the interest on the
bonds, and after three years from the issuance of such bonds the
board of supervisors shall annually levy a tax, at a rate not in conflict
with general law, on such property suffcient to continue the payment
of the interest on such bonds, and to create a sinking fund to redeem
the principal thereof at maturity.

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