Chap. 187.—An ACT to authorize the board of supervisors of Botetourt county
to borrow money, not exceeding thirtv thousand dollars, for the purpose of
refunding bonds issued by said board of supervisors, dated January first, nine-
teen hundred, to refund bonds of said county issued in payment for subscrip-
tion to capital stock of the Valley Railroad Company, and to issue bonds of
the said county therefor. {H B 203]

Approved March 14, 1924.

Whereas, the board of supervisors of Botetourt county, under
an act of the general assembly of Virginia, approved January twenty-
seventh, nineteen hundred, issued certain bonds of the said county,
amounting to the sum of forty-six thousand dollars for the purpose of
refunding bonds issued to refund bonds issued in payment of sub-
scription to the capital stock of the Valley Railroad Company; and,

Whereas, such of said bonds as are unpaid will mature and become
payable on January first, nineteen hundred and twenty-five; therefore,

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Botetourt county be, and it hereby is, authorized
and empowered to borrow a sum of money not exceeding thirty thousand
dollars, for and in the name of the said county, to refund those of the
bonds issued by the board of supervisors as aforesaid, which are unpaid,
and to issue bonds of said county for the loan thereof, and they may
appoint an agent, or agents, to negotiate the loan of the said sum of
money. Said bonds may be either registered or with coupons attached
for the interest to become due thereon, as said board of supervisors may
prescribe, shall be signed by the chairman of the board, and counter-
signed by the clerk thereof, and if they be coupon bonds, the coupons
shall be signed by the chairman and countersigned by the clerk; shall be
in denominations of one hundred dollars, or some multiple thereof; shall
bear interest at a rate not exceeding six per centum per annum, payable
semi-annually at the office of the county treasurer of said county, and
shall be payable not exceeding twenty-five years from the date thereof
at the said office of the county treasurer, but may, in the discretion of
the board of supervisors, be redeemable at such time or times, or after
such period or periods, as the said board may prescribe; but no bonds
issued under this act shall be sold or negotiated for less than par.

At the times at which the said board of supervisors shall make its
annual levy for the said county it shall levy on all the real and tangible
personal property in said county liable to State tax and county or dis-
trict levies, such tax to pay the interest on the bonds so issued, and to
create a sinking fund to redeem the principal thereof, as the said board
of supervisors may find necessary and proper.

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