Chap. 94.-An ACT to authorize the school board of Butts road magisteria
district, No. 4, of the county of Norfolk, to borrow money for the purpos«
of school improvements in said district, and to issue bonds therefor, no
exceeding $50,000.00 in amount. ([H B 127.

Approved February 25, 1920.

1. Be it enacted by the general assembly of Virginia, That th
school board of Butts road magisterial district, number four, of th
county of Norfolk, be authorized and empowered to borrow mone‘
not to exceed the sum of fifty thousand dollars, the same to be usec
for school improvements in said district.

2. That the said school board shall issue bonds not to excee
the sum of fifty thousand dollars, the said bonds to be in denomina
tions of one thousand dollars, to bear interest not to exceed five pe
centum per annum, payable semi-annually, with interest coupons
thereto attached, and the principal thereof to be paid twenty years
after the date thereof, and to be a lien upon all the school property
of said school district, number four, of the county of Norfolk.
The said school property shall be pledged for the payment of the
principal and interest thereof, according to their tenor and date,
and the said bonds shall be in form following:

Know all men by these presents: That the school board of Butts
road magisterial district, number four, of the county of Norfolk,
in the State of Virginia, is justly indebted to__-------------------- '
or bearer, in the sum of..-.-___________- dollars, redeemable twenty
years after date hereof, and bearing interest at the rate of five per
centum per annum from date, payable semi-annually on surrender of
the proper coupons hereto attached, until payment of the princi-
pal sum. In testimony whereof, the said school board of Butts road
magisterial district, number four, of the county of Norfolk, has caused
the corporate seal to be affixed, and these presents to be signed by
its chairman and attested by its clerk, this the---____-_-___- day of
ee ea , nineteen hundred and___-_----~---.

3. That in making sale of the said bonds that shall be issued in
accordance with the provisions of this act, at no time shall the said
bonds be sold for less than their par value; and said school board
shall provide for the payment of the accruing interest, and also for
the principal of said bonds, in such manner and by such means as it
shall deem necessary.

4. The said bonds shall be issued and sold by the said school
board for the purpose of raising said sum of money, or any part
thereof, only for the purpose herein set out.

5. The sum of money made available by this act (or as much
as may be necessary) shall be spent by said school board in the
construction of one four room modern school building within one-half
mile of the Fentress depot of the Norfolk Southern railroad at Fen-
tress, Virginia.

One four room modern school building at or within one-quarter
mile of the school commonly known as the Hickory Ground academy
or tabernacle at Hickory, Virginia.

One four room modern school building within one-half mile of
Northwest station of the Norfolk Southern railroad, south of the
Northwest river, at Northwest, Virginia.

The above named buildings are to be constructed by the said school
board and the Pleasant Grove district school board jointly on a fifty-
fifty basis, each board paying half and half.

6. The necessity of raising money for the purpose of school im-
provements in this district creates an emergency, and this act shall
be in force from its passage.