Chap. 430.—An ACT to authorize submission to the legal voters of the city o
Winchester of the question whether or not they will favor the issuance b
said city of not more than $100,000.00 of water bonds and to authorize th
issuance by said city of. not more than $100,000.00 of said bonds, if a majont
of those voting vote in favor of such issuance. [SB

Approved March 23, 1920.

Whereas, it appears that there is*need for an enlargement of th
water system of the city of Winchester; and,

Whereas, the common council of the city of Winchester has re
quested authority from the general assembly of Virginia to call :
special election to submit to the legally qualified voters of said aty
of Winchester whether or not a majority of those voting will favor
the issuance of not more than one hundred thousand ($100,000.00)
dollars of bonds at such rate of interest as the common council maj
determine, not to exceed five per centum per annum, maturing not
more than sixty years after date, the said common council to determine
the exact time of maturity, the proceeds of said bonds to be used to
defray the costs of enlarging the’ pumping and storage capacity of the
water system of the city of Winchester; now, therefore,

Be it enacted by the general assembly of Virginia, That

First. The common council of the city of Winchester is hereby
authorized at any time within two years after the passage of this
act to order a special election at which all voters of said city, qualified
to vote in general elections under the laws of this State, may vote
upon the question whether or not they favor or oppose the issuance of
not more than one hundred thousand ($100,000.00) dollars of water
bonds, said bonds to bear such interest as the common council may
determine, not to exceed five per centum per annum, and to be in such
denominations as the council may determine, and to mature at such
time as the council may determine, not to be more than sixty years
after date. If a majority of those voting shall vote in favor of the
issuance of said bonds the said common council, by proper resolution
or ordinance, may direct that they be isstted and executed on behalf of
the said city of Winchester and signed by such officers or parties as
the common council shall name; provided, said bonds shall not exceed
the aggregate hereinbefore named.

Second. The proceeds from said bonds shall be wholly expended
for enlarging the pumping and storage capacity of the water system
of the city of Winchester.
Third.. Said bonds shall be in such form as the common council
yf said city may determine.

Fourth. Provision shall be made pursuant to existing laws for
he creation of a- sinking fund applicable to the retirement of said
»onds ; and the said bonds may be madg redeemable at the option of
he city of Winchester before maturity.