Chap. 160.—An ACT to authorize the board of supervisors of Isle of Wight county
to issue bonds or other obligations of said county, for the purposes of reimburs-
ing certain road associations and of financing the construction of certain sec-
tions of the State highway system in said county; to levy taxes to pay the in-
terest on and to create a sinking fund for said bonds. (He B 305]

Approved March 14, 1924.

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Isle of Wight county are hereby authorized and
empowered to issue bonds or other obligations of the said county for a
sum or sums of money not to exceed in the aggregate one hundred and
forty-nine thousand dollars, for the purpose of reimbursing the Carrs-
ville Good Roads Association and the Isle of Wight County Good Roads
Association for certain sums of money advanced by the said associa-
tions to the State highway commission for the construction of the road
between the Nansemond and Southampton county lines, through Carrs-
ville, and the road from Smithfield to the courthouse of Isle of Wight
county, both of which said roads are now included in the State highway
system and under actual construction; and said board of supervisors
are hereby empowered also to issue bonds or other obligations of the
said county, in an aggregate sum not exceeding forty thousand dollars,
to be advanced to the State highway commission, without interest,
under the terms of an act approved March fifteenth, nineteen hundred
and twenty, to finance the construction or permanent improvement of
that section of road in the State highway system from Smithfield to the
Nansemond county line.

2. Such bonds or other obligations issued for either of the pur-
poses aforesaid, shall be payable or redeemable at such time or times
not exceeding twenty years from the date of issue, and shall bear in-
terest payable at such times and at such rate not exceeding six per
centum per annum, and shall be in such denominations, and shaH be
either coupon or registered, as the said board of supervisors may deter-
mine. There shall be printed on the face of such bonds or obligations
a statement of the purpose for which they are issued.

The sale of such bonds or other obligations may be conducted,
negotiated and effected in such manner as the said board of supervisors
may determine; provided they shall not be sold at less than their par
value.

3. The said board of supervisors shall, annually, lay a levy upon
all the property in said Isle of Wight county, subject to taxation for
such purposes, including such property located, or the situs of which
for taxation may be, within the limits of the incorporated towns of
said county, at such rate as will be sufficient to pay the interest on saic
bonds or other obligations, and to create a sinking fund for the payment
of the principal at maturity.

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

sage.