Chap. 459. “an ACT to authorize the town of Front Royal to issue bonds in
the sum of $36,000.00, and expend the proceeds arising from the sale thereof,
or so much as may be necessary for the construction, erection and main-
tenance of a sewerage system for the said town, and to provide by proper
tax levy or appropriation for the payment of interest on the bonds so
issued and to create a sinking fund to retire said bonds at maturity.

[H B 249]
Approved March 24, 1920.

Whereas, at a meeting of the council of the town of Front Royal
held at the office of the recorder thereof on April eleventh, nineteen
hundred and ten, an ordinance was passed in accordance with section
one hundred: and twenty-three of the Constitution of Virginia, pro-
viding for the issuance of bonds of the said town in a sum not exceed-
ing fifteen thousand dollars for the purpose of using the proceeds
therefrom in the erection, construction and maintenance of a sewerage
system for said town; and

Whereas, a duly authenticated copy of the said ordinance was
presented to the judge of the circuit court of Warren county, Vir-
yinia, in vacation, who ordered an election submitting the question
of the issuance of said bonds to the qualified voters of the said town,
which election was held on June fourteenth, nineteen hundred and
fen, and at which election a majority of the qualified voters of the
said town voted in favor of the issuance of the said bonds; and

Whereas, it later developed that the aforesaid sum of fifteen thou-
and dollars was wholly inadequate to construct said sewerage sys-
em, with the result that the said fifteen thousand dollars in bonds
vere never issued ; and

Whereas, at a meeting of the council of the town of Front Royal,
1eld in the council room in said town on July eighth, nineteen hundred
ind nineteen, it was determined to build, construct and maintain a
ewerage system for the said town, and to this end the said council by
yrdinance duly enacted in pursuance of section one hundred and
wenty-three of the Constitution of Virginia, provided for the issuance
»f twenty-one thousand dollars of bonds of said town, in addition to
he fifteen thousand dollars of bonds, hereinbefore referred to, for the
purpose of using the proceeds arising from the sale thereof in the
‘rection, construction and maintenance of a sewerage system for the
aid town; and

Whereas, a duly authenticated copy of the ordinance last above re-
erred to was presented to the judge of the circuit court of Warren
county, Virginia, who ordered an election submitting the question of
he issuance of said additional bonds in the sum of twenty-one thou-
and dollars to the qualified voters of the said town, which election
vas held on August twelfth, nineteen hundred and nineteen, at which
lection a majority of such qualified voters voted in favor of the
ssuance of said additional twenty-one thousand dollars of bonds for
he purposes hereinbefore set forth; and

Whereas, in submitting both of said bond issues to a vote of the
eople, as herein set forth, the rate of interest on all of said bonds
vere fixed at not greater than five per centum per annum; and

Whereas, in the judgement of the council of the said town, the said
bonds cannot be marketed at their par value at an interest rate of
five per centum per annum; and

Whereas, the total sum of thirty-six thousand dollars is necessary
for the construction, erection and maintenance of the proposed sewer-
age system; now, therefore,

1. Be it enacted by the general assembly of Virginia, That the
council of the town of Front Royal be, and it is, hereby authorized to
issue the bonds of the said town in a-sum not exceeding thirty-six
thousand dollars, in such denominations as the said council may deter-
mine, said bonds to be payable thirty years from the date of issue.
with interest from date at the rate of six per centum per annum, which
interest is to be paid semi-annually at the office of the treasurer of
the said town upon surrender of the proper coupon evidencing said
semi-annual interest, the same to be redeemable at the option of the
said town at any time after the expiration of ten years from the date
of the issuance of said bonds, upon giving to the holder or holders
of the bond or bonds so determined to be redeemed thirty days’ written
notice, which notice shall be addressed to the holder or holders of
said bond or bonds, determined to be redeemed, at the last known
postoffice address of such holder or holders, or in the discretion ot
the council after four weeks’ publication of its election to redeem in
some newspaper published in Warren county, Virginia. Upon the
expiration of the period of the notice herein provided for, all interest
on the bond or bonds so elected to be redeemed shall cease. The pro-
ceeds arising from the sale of the bonds shall be expended for the
purposes herein set forth and none other. The said bonds when issued
shall be signed by the mayor of the town of Front Royal, the cor-
porate seal affixed and attested by the town recorder; the coupons
attached to said bond evidencing the semi-annual interest shall be
signed by the mayor of the town of Front Royal, but the corporate
seal of said-town need not be affixed nor the same attested by the
town recorder.

Authority is hereby given the council of the said town to provide
by proper tax levy or appropriation for the payment of the interest on
the bonds issued hereunder and for the creation of a sinking fund te
retire said bonds at maturity or any redemption period.

In view of the fact that work on the proposed sewerage systen’
is now in progress, and funds are needed for the carrying on of the
same, an emergency is declared to exist, and this act shall be in force
from its passage.