Chap. 103.—An ACT to authorize the school board of Tanner’s Creek magis-
terial district, No. 6, of the county of Norfolk, Virginia, to borrow money
for the purpose of school improvements in said district, and to issue bonds
therefor, not to exceed the sum of $300.000 in amount. [H B 59]

Approved February 28, 1920.

1. Be it enacted by the general assembly of Virginia, That the
school board of Tanner’s creek magisterial district, number six, of
the county of Norfolk, Virginia, be authorized and empowered to bor-
row money, not to exceed the sum of three hundred thousand dollars.
the proceeds of such loan to be used for school improvement in said
district.

2. The said school board may issue bonds not to exceed the sum
of three hundred thousand dollars, to bear interest not to exceed five
per centum per annum payable semi-annually, with interest coupons
attached thereto, and the principal thereof to be paid twenty (20)
years after date thereof, said bonds to be a lien upon all of the school
property of said school district, number six, of said county of Norfolk.
The said school property shall be pledged for the payment of the
principal and interest of said bonds, as therein set forth, and as shown
by interest coupons thereto attached, which said bonds shall be in form
as follows:
“Know all men by these presents, That the school board of Tanner’s
creek magisterial district, number six, of the county of Norfolk, in
the State of Virginia, is justly indebted to and promises to pay
~-------------.------.-.--.-----or bearer, the sum of one thousand
dollars, bearing interest at the rate of five per centum from date,
payable semi-annually on surrender of the proper interest coupons
hereto attached, until said principal sum shall be paid in full.

In testimony whereof, the said school board of said Tanner's
creek magisterial district, number six, of the county of Norfolk, Vir-
ginia, hath caused the corporate seal of the same to be affixed and
these presents to be signed by its chairman and attested by its clerk,
this the-__._-_____-_-_ day of_____---------------- nineteen huridred

3. The said bonds shall be in denomination of one thousand dol-
lars each, and in making sale of same in accordance with the provisions
of this act, such bonds shall in no event be sold at less than the par
value thereof. And the said school board shall provide for the pay-
ment of the accruing interest on said bonds, or so many thereof as
may be issued and sold, and also for the payment of the principal of
said bonds, in such manner and by such means as it shall deem
necessary. : .

4. The said bonds, or any one or more of same, may be issued
and sold by the said school board, only for the purposes herein set
ortn.

_ 9. The necessity for raising money for the purpose of aforesaid
improvements in said district creates an emergency, and this act
shall be in force from its passage.