Chap. 209.—An ACT to authorize the city of Newport News to borrow a sum not
exceeding one hundred and ten thousand dollars ($110,000.00), to issue bonds
therefor for the purpose of completing and equipping the school buildings now
in course of construction and altering and enlarging and equipping existin
school buildings, and to reimburse the general fund of the city for money pai
and to be paid on account of said schools. [S B 267}

Approved March 14, 1924.

1. Be it enacted by the general assembly of Virginia, That in addi-
tion of any other indebtedness of the city of Newport News and certifi-
cates of debt or bonds which the said city has from time to time issued,
the council for said city, by a four-fifths vote thereof, in the name of and
for the use of said city, may cause to be issued bonds or certificates of
indebtedness, (the form of which shall be prescribed by the council),
to the amount of one hundred and ten thousand dollars ($110,000.00),
bearing interest at a rate not to exceed six per centum (6%) per annum
and payable in the discretion of the council in not more than thirty
(30) years, which said bonds may be either sinking fund or serial bonds,
as the council may determine. The amount of money received from the
sale of these bonds shall be used for the purpose of completing and equip-
ping the school buildings now in course of construction and for complet-
ing and equipping the alteration and extension of school buildings now
being so altered and.enlarged and to reimburse the general fund of the
city the moneys paid and to be paid therefrom for the purchase of school
sites and advances on account of costs of construction of said buildings.

2. The city of Newport News desiring to immediately complete
the improvements herein provided for, an emergency is declared to exist
and this act shall be in force from its passage.