Chap. 216.—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 fifty
thousand dollars ($50,000), and to provide for the levy of a tax to pay the
interest on said bonds and retire the same as they mature. [S B 366]

Approved March 21, 1936

Whereas, the town of South Boston contemplates the improvement
of certain streets of the town, and particularly the widening of Upper
Main Street, and such improvements will necessitate the setting back
to a new Street line of certain buildings, and the reconstruction of such
buildings or parts thereof, and the acquiring of additional area for such
extension of street lines; and

Whereas, such improvements are necessary in order to accommodate
increased traffic and to relieve congestion, and generally to serve the
public convenience; and
Whereas, it is the desire of the council of town of South Boston
to provide for the cost of such anticipated improvements ; 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 fifty thousand dollars
($50,000), 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 three thou-
sand dollars each year for ten years, beginning five years from date,
and four thousand dollars each year for five years, beginning sixteen
years from date, and shall bear interest at the rate of not exceeding
five per centum per annum, payable semi-annually. Said bonds shall
be in coupon form. They shall be signed by the mayor of the town
and attested by the clerk of said town, and the corporate seal of said
town shall be thereunto affixed, and the coupons to be attached to said
bonds shall be authenticated by the facsimile signatures of said mayor
and clerk. Said bonds and coupons shall be substantially in the fol-
lowing form:

UNITED STATES OF AMERICA
COMMONWEALTH OF VIRGINIA
TOWN OF SOUTH BOSTON
STREET IMPROVEMENT BOND

No. wo... eee $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 .. day of ..........
19,..., together with interest thereon from the date “hereof until the
payment of said principal sum, at the rate of ........ per centum
per annum, payable semi-annually on the .... days of .............
ANd 2. oe kanes of each year, and at the maturity of this bond,
upon presentation and surrender of the annexed coupons as they shall
severally become due. Both principal and interest of this bond are
payable in lawful currency of the United States of America, 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 the Constitution and statutes of the Commonwealth
of Virginia, including an act of the General Assembly of Virginia,
approved ......... 0... eee eee , ninteen hundred and thirty-six, and
pursuant to resolutions and proceedings of the council of the town of
South Boston duly had and adopted.

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 said town, is within every debt and other
limit prescribed by the Constitution and laws of said Commonwealth,
and the faith and credit of said town are hereby pledged irrevocably
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 there-
unto attached to be signed with the facsimile signatures of said mayor

and clerk, and this bond to be dated the .... day of .............. ;
nineteen hundred ..............200.

ote eee eens higee
Attest:
Lobe eee eee So
(SEAL)

FORM OF COUPON
:

The town of South Boston, in Virginia, will pay to the bearer
on the .... day of ............ , nineteen hundred and ..........
dollars in lawful currency of the United States of America, at the
Guaranty Trust Company, in the city of New York, New York, being
six months’ interest then due on its street improvement bond number
beeen eee , dated the ...... day of ..................... mineteen

ee

2. Said bonds shall, in any suit or proceeding involving their
validity, 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
notwithstanding, 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 suf-
ficient to retire said bonds as they shall mature.