Chap. 440.—An ACT to authorize the mayor and council of the town of Bowling
Green, in the county of Caroline, to issue bonds and borrow money for the
purchase, or construction, and maintenance of lighting and water systems,
or either, in said town. [H B 441]

Approved March 24, 1920.

1. Be it enacted by the general assembly of Virginia, That the
mayor and the council of the town of Bowling Green, in the county
of Caroline, be and they are hereby authorized and empowered to issue
and sell bonds of the said town in an amount not to exceed forty thou-
sand dollars for the purpose of purchasing, or constructing and main-
taining lighting and water systems, or either of such systems, as may
be prescribed by the said mayor and council, and to meet such expenses
in connection therewith as may be determined upon by said mayor
and council. }

2. The bonds authorized by this act shall be coupon or registered
bonds and shall be issued in such denominations as the mayor and coun-
cil may prescribe; they shall bear interest at a rate not exceeding six
per centum per annum, payable at such times and places as the said
mayor and council may prescribe; they shall be made to mature at the
end of thirty years from their date, but redeemable after fifteen years
at the option of the mayor and council at any time; and they shall be
signed by the mayor and countersigned by the clerk of said council
for and in behalf of the said town of Bowling Green with the seal
of the town attached. But the said mayor and council shall not proceed
to issue the said bonds until the question of whether or not the said
bonds shall be so issued and sold for the purposes named shall first
be submitted to the qualified voters of the town of Bowling Green
at a special election to be called by the council for that purpose at
any time within one year from the passage of this act, which said
special election shall be called by proper ordinance, and in all other
respects to be conducted under the general laws governing special
elections. The ordinance calling said special election shall recite the
total amount of bonds proposed to be issued, the rate of interest they
shall bear and the amount to be issued for each of the several purposes
mentioned in this act, and said ordinance shall provide that such election
is to be held in order that the qualified voters may vote as to whether
or not there shall be an issue of bonds for any one or more of the
purposes aforesaid, and the amount proposed for each purpose shall
be named in the ordinance. The ballots shall be so arranged as to
permit a registered or qualified voter to vote for or against any one or
both of said proposed public improvements. If, at the election to be
so called, a majority of the qualified voters voting should cast their
ballots in favor of the issue of said bonds for any one or both of
said coupons, then the council shall proceed to issue and sell the same
as herein provided. The said council shall prescribe the manner of
sale and the terms upon which said bonds shall be sold, provided the
same shall not be sold for less than par. It shall provide by proper
tax levy or appropriation for the payment of interest on same and
the creation of a sinking fund to retire said bonds at maturity. Pro-
vided that such levy shall not be in conflict with general law.