Chap. 117.—An ACT to authorize the board of supervisors of the county of
Amherst to borrow money not in excess of $20,000.00, and to issue its time
warrants therefor, for the purpose of refunding certain road bonds of the
said county which mature on January 1, 1927. [H B 84]

Approved March 6, 1926.

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of the county of Amherst is hereby authorized
and empowered to borrow a sum of money not exceeding. twenty
thousand dollars, and to issue its time warrants therefor, the said
warrants to be issued in such denominations and to be payable at
such time or times, not exceeding five years from the date of issuance
(including any renewals or extensions which renewals or extensions
are hereby authorized) as the said board may prescribe. The said
warrants shall be signed by the chairman of the said board and coun-
tersigned by the clerk thereof, and shall bear interest at not exceeding
six per centum per annum, payable semi-annually. From the general!
county levies of Amherst county there shall be paid, as it matures, the
interest on the time warrants hereby authorized, and there shall be
set aside annually as a sinking fund, such a sum as will provide for
the payment of the principal at maturity. The said warrants shall
be sold at not less than par, and the proceeds of the said sale shall be
used in aiding to pay off and retire certain road bonds of the said
county in the sum of twenty thousand dollars which mature on the
first day of January, nineteen hundred and twenty-seven.