Chap. 224.—An ACT to authorize the council of the town of South Boston
to issue bonds of the town of South Boston in an amount not exceeding
one hundred thousand dollars ($100,000.00), and to provide the levy of a
tax to pay interest on said bonds, and to retire the same as they mature.

[S B 377]
Approved March 22, 1930

Whereas, The town of South Boston is indebted for certain pub-
lic improvements, consisting of extensions of its streets and side-
walks, and for funds evidenced by short term obligations. of the town,
issued for sundry public improvements, and for current revenue antici-
pated for general puposes; and

Whereas, it is the desire of the council of the town of South
Boston to fund the indebtedness so carried and to provide for antici-
pated improvements, by issuing bonds to retire such indebtedness, and
provide necessary funds to pay the cost of such anticipated improve-
ments; therefore,

1. Be it enacted by the general assembly of Virginia, That the
council of the town of South Boston may issue bonds of the town
of South Boston in the aggregate principal sum of one hundred thou-
sand dollars, or any part thereof, for said purposes.
Said bonds shall be numbered consecutively from one upward, of
the denomination of one thousand dollars each, and shall bear date
as fixed by the council, and shall be payable in series of not exceed-
ing ten thousand dollars each year, beginning not less than three years
from their date, and shall bear interest at the rate of not exceeding
five and one-half per centum per annum, payable semi-annually. Said
bonds shall be in coupon form. Thev shall be signed by the mayor
of the said town and attested by the clerk of said town, and the cor-
porate seal of said town shall be thereunto affixed, and the coupons
to be attached to said bonds shall be authenticated by the facsimile
signature of the said mayor and clerk. Said bonds and coupons shall
be substantially in the following form:

UNITED STATES OF AMERICA
COMMONWEALTIL OF VIRGINIA
‘TOWN OF SoutH Boston

IMPROVEMENT AND FUNDING BOND
a $1,000.00

Know all men by these presents: That the town of South Boston,
a municipal corporation of the Commonwealth of Virginia, for value
received, acknowledges itself indebted and promises to pay to the
bearer the sum of one thousand dollars on the... a :
nineteen ......... vena eeceeeeeeeeceeeteeeeceeeetteeeeeeeeee together with interest thereon
from the date hereof until the payment of said principal sum, at the
in) per centum per annum, payable semi-annually on the
first day of... 1 re of each year and at the ma-
turity of this bond, upon presentation and surrender of the annexed
coupons, as they shall severally become due. Both principal and inter-
est of this bond are payable in gold coin of the United States of
America of the present standard of weight and fineness, or its equiva-
lent in value, at the Guaranty Trust Company, in the city of New
York, New York.

This bond is one of an issue of............ bonds of like date and tenor
except as to maturity, numbered from one to............ , Inclusive, issued
pursuant to an act of the general assembly of Virginia, approved
nec ce cece eeeeeeeeeeeeteeeeenweeeeees , nineteen hundred and thirty.

It is hereby certified and recited that all conditions, acts. and things
required by the Constitution and statutes of the Commonwealth of
Virginia to exist, to have happened and to be performed precedent
to and in the issuance of this bond exist, have happened and have been
performed, and that the issue of bonds of which this is one, together
with all other indebtedness of the said town, is within every debt and
other limit prescribed by the Constitution and laws of said Common-
wealth, and the faith and credit of said town are hereby pledged irre-
vocably to the punctual payment of the principal and interest of this
bond according to its terms.
In witness whereof, the town of South Boston has caused these
presents to be signed by its mayor and attested by its clerk, and its
corporate seal to be hereunto affixed, and the interest coupons hereto
attached to be signed with the facsimile signature of said mayor and
clerk, and this bond to be dated the............ day Of......2..22-..2202----- , nineteen
hundred........-... 2.2222 c-eeeeeeeeeeees

Attest:

ForM OF COUPON

The town of South Boston, in Virginia, will pay to the bearer on
the first day of......220..22.-2.2...+-2- , nineteen hundred and..................-...------
raseeeoerertecenr meric SE dollars in gold coin of the United States of America
of the present standard of weight and fineness, or its equivalent in
value, at the Guaranty Trust Company, in the city of New York, New
York, being............ months’ interest then due on its improvement and
funding bond number.............. , SATE, TG oe wien cone day Of-...22.222.2...cee eee ;
nineteen hundred and........................-....-.

Clerk :

Said bonds shall in any suit, or proceeding involving their valid-
ity, be conclusively deemed to be fully authorized by this act to have
been issued, sold, executed and delivered in conformity herewith and
with all other provisions and statutes applicable thereto, and shall be
incontestable, anything herein or in other statutes to the contrary not-
withstanding, unless such suit, action, or proceeding is begun prior to
the delivery of such bonds.

Until the principal and interest of said bonds shall be fully paid,
there shall be levied and collected annually by tax on all property
in the town of South Boston, subject to taxation under the general
laws of the State of Virginia, a sum sufficient to pay the interest on all
of said bonds outstanding as it becomes due, and a further sum suffi-
cient to retire said bonds as they shall mature.