Chap. 54.—An ACT to authorize the school board of Fairfield school district
No. 3 of Henrico county to borrow money to retire outstanding bonds and
pay off present indebtedness. (S B 102]

Approved February 10, 1920.

1. Be it enacted by the general assembly of Virginia, That the
school board of Fairfield school district number three of Henrico
county be, and it is, hereby authorized and empowered to borrow
upon the faith and credit of said district, a sum not exceeding fifty
thousand dollars, and to issue bonds for the same, bearing interest at
arate not exceeding six per centum, payable annually or semi-annually,
for the purpose of retiring outstanding bonds and paying off the
present indebtedness of said district, said new bonds to be issued in
such amounts and payable at such time or times, not exceeding thirty
years after their date.

The board of supervisors of said county of Henrico, at the request
of said district school board, shall embrace in its annual district
(Fairfield school district number three) levy a sum sufficient to pay
the annual interest on said bonds and to provide a sinking fund,
which shall be held and applied by said district board for the pay-
ment of the principal of said bonds; provided, however, that said
levy by the supervisors shall not exceed ten cents on every one hun-
dred dollars on taxable property within said district.

2. An emergency existing, this act shall be in force from its

passage.