Chap. 349.—An ACT to authorize the city of Fredericksburg, Virginia, to bor-
row a sum of money not to exceed fifty thousand dollars ($50,000.00) and
issue bonds therefor, to cover the cost of addition to the high school building
in said city. [S B 379]

Approved March 21, 1928

1. Be it enacted by the general assembly of Virginia, That the
mayor and common council of the city of Fredericksburg, Virginia, be,
and they are hereby authorized to issue and sell bonds of said city to
an amount not exceeding fifty thousand dollars ($50,000.00) bearing
interest not to exceed six per centum (6%) per annum, and payable
at such time or times as the said council may by resolution direct, not
to exceed a maturity of twenty years from issue. The said bonds
shall be registered or coupon bonds as the council may determine, and
the council shall further have the power to determine whether they
shall be sinking fund or serial bonds. Said bonds shall be sold at
not less than par.

The said council shall use the proceeds from the sale of said bonds
issued hereunder for the sole and exclusive purpose of -making addi-
tions to the present high school building as the council may deem
necessary, but the purchasers of the said bonds shall not be required to
see to the application of the purchase money.