Chap. 359.—An ACT to authorize and empower the board of supervisors of the
county of Carroll to borrow money, not in excess of $15,000.00, and to issue
bonds of the county therefor, for the purpose of surveying, constructing, re-
pairing and improving certain roads and bridges, for Fancy Gap magisterial
district of said county, and to provide for the payment of the interest on
such bonds and to create a sinking fund to redeem the principal thereof at
maturity. [S B 397]

Approved March 21, 1928

1. Be it enacted by the general assembly of Virginia, That the board
of supervisors of Carroll county be, and they are hereby authorized
and empowered to borrow a sum of money, not exceeding fifteen
thousand dollars, and to issue bonds of said county therefor, the said
bonds to be issued in such denominations and to be payable at such
time or times, not exceeding thirty years from the date thereof, as the
said board may provide; they shall bear interest at not exceeding six
per centum per annum and shall not be sold for less than par.

2. The bonds issued by the said board of supervisors in pursuance
of this act shall be signed by the chairman and countersigned by the
clerk thereof, and the seal of the board affixed thereto; said bonds shall
be issued in serial numbers and shall be payable to the bearer at the
office of the treasurer of Carroll county. The board of supervisors
shall cause to be printed on each bond: “Issued for Fancy Gap magis-
terial district.” When issued, such bonds shall be delivered to the
treasurer of the county of Carroll, and when sold he shall deliver
them to the purchaser or purchasers. The full faith and credit of
the county of Carroll is hereby pledged for the payment of the principal
and interest of said bonds.

3. All monies realized from the sale of such bonds shall be received
by the treasurer of Carroll county, and shall be kept by him separate
and apart from any other money that may come into his hands as
such treasurer, and he shall receive for collecting and disbursing the
funds coming into his hands hereunder, an amount to be fixed by the
board of supervisors, not to exceed one per centum of the amount
coming into his hands.

4, The proceeds derived from the bonds issued hereunder shall be
used by the county road board, in conjunction with the county road
engineer, for the construction, repair and improvement of such roads
in Fancy Gap magisterial district of said county, as the board of
supervisors of said county may designate.

5. After the issuance of the bonds provided for in this act, the
board of supervisors of Carroll county are authorized to annually
levy a special tax on all the property subject to local taxation for road
purposes, in said Fancy Gap magisterial district, including such prop-
erty located in any incorporated towns wholly or partly in said district,
sufficient to pay the interest on said bonds and to redeem the principal
thereof at maturity.

6. The supervisor of Fancy Gap magisterial district shall be allowed
five dollars per diem when engaged in having the work done in his
district hereunder, to be paid out of the fund authorized by this act.

7. This act shall not be construed as mandatory upon the said board
of supervisors in requiring them to issue the bonds herein mentioned,
but is left to their judgment and discretion, but if said bonds are issued
as herein authorized, then this act shall be construed as mandatory as
to the expenditures of the money derived from the sale of said bonds.

8. The purchaser or purchasers of the said bonds authorized herein
to be issued by the board of supervisors of the said county of Carroll,
for Fancy Gap magisterial district, shall in no event be required to see
to the application of the purchase money of said bonds.

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