Chap. 128.—An ACT to authorize the board of supervisors of the county of Char-
lotte to lend out, upon real estate security, or to invest in bonds of the Com-
monwealth of Virginia, or bonds or interest-bearing notes, certificates, or other
obligations of the United States, or deposit in bank at interest, all accumula-
tions of money to the credit of any sinking fund which has been created, or
which may be hereafter created, for the retirement of bonds issued by the
said county for permanent road and bridge improvement in the magisterial
districts thereof. [H B 247]

Approved March 14, 1924.

-1]. Beit enacted by the general assembly of Virginia, That the board
of supervisors of the county of Charlotte is hereby authorized and em-
powered to lend out, upon real estate security, the loan not to exceed
fifty per eentum of the fair market value of such real estate, or to invest
in bonds of the Commonwealth of Virginia, or in the bonds of interest-
bearing notes, certificates, or other obligations of the United States, or
deposit in bank at interest, all accumulations of money to the credit
of any sinking fund which has been created, or which may be hereafter
created, for the retirement of bonds issued by the said county for per-
manent road and bridge improvement in the magisterial districts there-
of, and to collect and reinvest the same and the interest accruing thereon
from time to time, so often as may be necessary or expedient, until such
bonds become subject to call; provided, that no money to the credit of
said sinking fund shall be loaned out or deposited or invested by the
said board of supervisors, unless said loan, deposit or investment shall
be first approved by the circuit court of said county, or the judge thereof
in vacation, and the form of the security be examined and approved by
the Commonwealth’s attorney of said county, which approval shall be
entered of record in the order book of said court.

2. Anemergency existing, this act shall be in force from its passage.