Chap. 254.—An ACT to authorize the board of supervisors of Clarke county to
borrow $35,000 for the purpose of refunding bonds issued by said board of
supervisors June 1, 1904, for the purpose of building two bridges across the
Shenandoah river in said county and to issue bonds of the said county there-
for. [S B 388]

Approved March 14, 1924.

Whereas, the board of supervisors of said county, under an act of the
general assembly of Virginia, approved December tenth, nineteen hun-
dred and three, issued certain bonds of the said county amounting to
forty thousand dollars for the purpose of building two bridges across the
Shenandoah river in said county, said bonds being payable not exceed-
ing twenty years from their date, and

Whereas, said bonds, or such as now remain unpaid, will mature and
become payable June first, nineteen hundred and twenty-four, now,
therefore,

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of the county of Clarke be, and hereby is, author-
ized and empowered to borrow a sum of money not exceeding thirty-five
thousand dollars for and in the name of said county, to refund and pay
off the remaining unpaid bonds issued by said board of supervisors, as
aforesaid, and to issue the 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, as said board of supervisors may prescribe, shall be signed by
the chairman of said board of supervisors, and be countersigned by the
clerk thereof; shall be in denominations of one hundred dollars or mul-
tiples thereof; shall bear interest at a rate not exceeding five per centum
per annum, payable semi-annually, at the office of the treasurer of said
county, and shall be payable not exceeding twenty years from their date,
but may, in the discretion of said board, be redeemable at such time or
after such period as the said board may prescribe; but no bonds issued
under this act shall be sold or negotiated at less than par and said bonds
shall not be subject to any State, county or local assessment for taxes.
At the time at which the said board of supervisors makes its annual levy
for said county, it shall levy on all the real and tangible personal prop-
erty in said county liable to State tax and county or district levies, such
tax to pay the interest on the bonds of the county so issued and to create
a sinking fund to redeem the principal thereof, as said board of super-
visors may deem necessary and proper.

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