CHAP. 100.—An ACT to authorize the school board of Luray corporation school
district, No. 5, of the county of Page, to borrow money and issue bonds
therefor for the purpose of enlarging school buildings, etc., etc. [S B 129]

Approved February 25, 1920.

Whereas the school buildings in the town of Luray, in the county
of Page, are inadequate and unsanitary, and it is desired to enlarge,
remodel and improve them; now, therefore,

1. Be it enacted by the general assembly of Virginia, That the
school board of Luray corporation district, number five, of the county
of Page, be and is hereby authorized to borrow not exceeding the
sum of forty thousand dollars, and to issue its bonds for the money
so borrowed, payable at such time or times as may be agreed upon,
not exceeding thirty years after their date, and interest not exceeding
the legal rate, payable annually or semi-annually, as may be agreed
upon. ,

2. The board of supervisors of the county of Page shall be and
hereby are authorized to levy annually upon the property of said dis-
trict, in addition to the annual levy authorized by law to be laid for
general district school purposes, a sufhcient tax to pay the interest
on and principal of such bond or bonds as the same shall accrue or
mature.

3. Funds derived from any and all loans provided for by this act
shall be used for the purchase of real estate, the enlarging and equip-
ping of buildings, the improvement of buildings or for the refunding
or payment of indebtedness.

4. All funds derived from loans provided for by this act shall be
handled by the county treasurer, who shall receive one-half of one per
centum of each loan for handling the same.

5. The privileges conferred by the provisions of this act shall not
extend longer than the first day of January, nineteen hundred and
twenty-five.