Chap. 75.—An ACT to provide for the holding of an election in the county of
Craig, on the question of the issuance of bonds not in excess of $25,000.00 for
the purpose of purchasing, constructing, improving and furnishing school
buildings and for acquiring sites for school buildings in such county; to pro-
vide for the issuance and sale of said bonds in accordance with said election;
and to provide for levying a tax for the purpose of paying the interest on said
bonds and to create a sinking fund for the payment of the prinicpal at maturi

ty.
[SB 189}
Approved February 29,1924. -

1. Be it enacted by the general assembly of Virginia, That when-
ever the county school board of Craig county shall, by resolution duly
spread upon the minutes of.the proceedings of such board, declare that
an additional schoolhouse or schoolhouses are necessary to provide
additional public school facilities for the children of school age in said
county, and tke school funds will not be sufficient to provide such ad-
ditional school building or buildings, and to furnish the same, the
county school board may, when authorized by a vote of a majority of the
qualified voters of such county voting, as hereinafter provided, borrow
not exceeding twenty-five thousand dollars for the purpose of pur-
chasing, constructing, improving, and furnishing school buildings in
said county and for acquiring sites for school buildings; and may issue
either registered or coupon bonds for the sum of money so borrowed;
the said bonds to be payable at a period not exceeding thirty years after
their date, and to be made redeemable at the option of such school
board at such time after their date as may be specified in the bonds, and
such bonds shall bear interest at a rate not exceeding six per centum
per annum, payable either annually or semi-annually as the school board
may prescribe; but no such bonds shall be sold for less than their par
value.

2. The said bonds shall be of such form and denomination as the
county school board of Craig county, by resolution spread upon the
minutes of the board, may prescribe, and shall be signed by the chair-
man and attested by the clerk of the board, and they shall be a lien
upon all the public school property in such county for the payment. of
the principal thereof, and the interest to accrue thereon.
72 ACTS OF ASSEMBLY. [vA.

3. The proceeds realized from the sale of any bonds issued under
the provisions of this act shall not be used for any other purpose than
that of purchasing, constructing, and improving such school buildings
and furnishing the same and for acquiring sites for school buildings as
may be set forth in the petition for the election.

4. When a resolution of the county school board shall be certified
to the circuit court of the county, or the judge thereof in vacation, or
upon a petition of one-fourth of the duly qualified voters of said county,
together with the location of the sites, schoolhouse or houses to be
purchased, constructed or improved with the general plans, specifica-
tions, and estimated cost thereof, approved by the division school
superintendent, the said court, or judge thereof in vacation, shall order
a special election to be held in such county at such time and after such
notice (which shall not be less than two weeks), as the court may pre-
scribe by order entered upon its minutes, to pass upon the question
whether such bonds shall be issued or not, for the amount recom-
mended by the school board, or requested in such petition. And the
clerk of the court shall give the notice required by the court of such
special election by publication in some newspaper of the county, and by
having the same posted by the sheriff of the county in at least ten
conspicuous points in said county, which said notice shall state the
amount of bonds to be issued, the purpose of the proposed issue thereof,
and the estimated cost of the sites, school building or buildings. The
clerk and sheriff of the county shall each receive for their service here-
under two dollars, to be paid out of the county treasury.

5. The electoral board shall prepare the tickets and shall provide
all other necessary details for such special election, and the board of
supervisors shall pay the expenses thereof out of the funds of the county,
and any such election shall be conducted and held in like manner as
regular elections, and the laws of the State applying to general elections
shall apply to such special election, except as otherwise provided in this
act, and the judges and clerks of the regular elections in said county
shall be the judges and clerks in such special election, and shall receive
the same compensation; and the voting precincts in such county for
general elections shall also be the same for such special election. At
such election each qualified voter who shall approve such issue of bonds
shall deposit a ticket or ballot on which shall be written the words,
“For bond issue,” and each qualified voter who shall oppose such issue
of bonds shall deposit a ticket or ballot on which shall be written the
words, ‘‘Against bond issue.’

6. The judges and clerks of such special election shall canvass the
vote and certify the same to the county clerk in the same manner as
required by law in general elections, and on the second day following
such special election, it shall be the duty of the county clerk, the Com-
monwealth’s attorney, and the commissioner of revenue, who are hereby
constituted a board of canvassers for that purpose, to meet in the clerk’s
office of said county and to canvass the returns of such special election,
and to certify the results ascertained by them to the Judge of the circuit
court of said county, who shall have the same spread upon the common
law order book of his court, and to the school board of said county, who
shall spread the same upon the minutes of said board, and when this
shall have been done, if no notice of contest of said election shall have
been filed within ten days after said election, the certificates of the can-
vassing board, hereby created, shall be conclusive of the legality and
regularity of said special election and of the result thereof.

7. All registered voters of said county who were qualified by law
to vote in the last preceding general election shall be qualified to vote
in any such special election.

8. The said bonds shall have written or printed on them the fol-
lowing sentences:

‘These bonds are issued for school improvements in Craig county,
and the full faith and credit of the county is hereby pledged for their
payment, and a tax is to be levied upon the property in said county to
pay the interest on them and to create a sinking fund sufficient in
amount to pay them upon maturity.”’ The board of supervisors shall
annually levy a special tax on all property subject to county taxation in
said county to pay the interest on the bonds so authorized and to create
a sinking fund for the payment of the principal at maturity. Such
sinking fund shall be invested in the bonds hereby authorized, or in
such other securities as the said school board may, with the approval
of the division superintendent of schools for said county, select. The
said school board shall annually report to the board of supervisors of
the county the amount and condition of the sinking fund.

An emergency existing this act shall be in force from its passage. |