Chap. 367.—An ACT to authorize the issuance of bonds by county school boards
of counties in the State of Virginia for the purpose of providing funds for
school improvements in said counties, including the purchase of sites for school
buildings or additions to school buildings, the construction of school buildings
or additions to school buildings, and the furnishing and equipping of school
buildings or additions to school buildings. [H B 183]

Approved March 28, 1936

1. Be it enacted by the General Assembly of Virginia, That upon
the petition to the county school board of one thousand resident tax-
payers of any county in this State, such school board may adopt a
resolution reciting the expediency of borrowing money by such county
and the issuance of bonds therefor, for the purpose of providing funds
for school improvements in said county, including the purchase of sites
for school buildings or additions to school buildings, the construction
of school buildings or additions to school buildings, and the furnish-
ing and equipping of school buildings or additions to school buildings.
Said resolution shall set forth the amount of said bonds, the length of
time for which they are to run, not exceeding thirty years from the
date thereof, the maximum rate of interest to be paid thereon, not
exceeding six per centum per annum, and in the event said county
school board shall desire to reserve an option to redeem said bonds
prior to maturity, said resolution shall state the time when said bonds
shall be so redeemable. It shall not be necessary for said resolution
to specify the particular school improvements for which the proceeds of
said bonds shall be used, but said resolution may, in the discretion of
the county school board, either specify the particular school improve-
ments for which the proceeds of the said bonds shall be used, or recite
such purposes in the general language of this act, and if the said resolu-
tion recite such purposes in such general language, and said county
school board may, following the election hereinafter provided for, de-
termine by resolution the particular school improvements for which
the proceeds of said bonds or any portion thereof shall be used. A
certified copy of said resolution shall be forthwith presented to the
circuit court or to the judge thereof in vacation. Said court or judge
within fifteen days of the receipt of said certified copy of such resolu-
tion, shall by order entered in term time or vacation, direct the proper
officers of said county to take such steps and prepare such means as
may be necessary to submit to the qualified voters of such county at a
special election for determination, the question of whether such bonds
shall be issued, and the court or judge shall make such order as may
be proper to give due publicity to such election. Said election shall
be held not less than fifteen nor more than twenty days after the date
of such order, and notice thereof in the form prescribed by said court
or judge shall be posted at each voting place in the county at least
ten days before such election, and said notice shall also be published
once at least ten days before said election in a newspaper of general
circulation in said county.

The poll books and the certificates of the judges of election shall be
delivered by one of the judges of election from each precinct in said
county or district, to the clerk of the court ordering such election,
and the result thereof certified by the clerk to the county school board
and to the judge of said court ordering said election.

2. If it shall appear from the returns that a majority of the qual-
ified voters voting at said election, shall be against such proposed
issue, an order shall be entered of record accordingly. If a majority
of the qualified electors at the election shall be in favor of such bond
issue, the court or judge thereof shall enter an order accordingly, a
copy of which shall be forthwith certified by the clerk of such court
to the county school board.

3. After the issuance of such order by said court or judge, the
bonds authorized at said election may be issued by the county school
board. Said bonds shall be issued in the name of the county. Sep-
arate issues of bonds may be authorized, by resolution or resolutions
of the county school board adopted subsequent to the election, for
each of such school improvements, or in the discretion of the county
school board, one consolidated issue of bonds may be authorized by
resolution of the county school board for all of said school improve-
ments ; provided, however, that any portion of said consolidated issue
may be sold and delivered from time to time in such amounts and of
such maturities as may be determined by resolution of the county
school board.

4. Said bonds shall be sold at public sale upon sealed proposals,
to the highest bidder at not less than par and accrued interest to date
of delivery. Notice of such sale shall be given by publication, in such
papers as the county school board shall direct, not less than ten days
prior to the date fixed for such sale. Said notice of sale may specify
the rate of interest said bonds shall bear, not exceeding six per centum
per annum, or may require bidders to specify the rate of interest said
bonds shall bear, not exceeding six per centum per annum, expressed
in multiples of one-fourth of one per centum per annum, such inter-
est to be payable semi-annually.

5. For a period of thirty days after the date of an order entered
by the circuit court or by the judge thereof in vacation, certifying that
a majority of the qualified electors voted in favor of the issuance of
bonds, as herein provided, any person in interest shall have the right
to contest the legality of said bonds or the taxes to be levied for the
payment of the principal and interest of said bonds, after which time
no one shall have any cause or right of action to contest the legality
or regularity of said election, or the validity of said bonds, or the
validity of taxes necessary for the payment of the principal and inter-
est of said bonds for any cause whatsoever. If such contest shall not
have been begun within the thirty days herein prescribed, the author-
ity to issue the bonds, and the vality of the taxes necessary to pay
the principal and interest of bonds, shall be conclusively presumed,
and no court shall have authority to inquire into such matters.

6. There shall be levied annually at the same time and in the
same manner as other school taxes are assessed, levied and collected,
a tax upon all taxable property in the county sufficient to provide for
the payment of the principal and interest of said bonds at maturity.
Upon the issuance of any bonds by the county school board under
this act, it shall certify to the board of supervisors of the county, the
maturities of said bonds and the rate of interest borne thereby and
it shall be the duty of the board of supervisors to levy the aforesaid
taxes annually to provide for the payment of the principal and inter-
est of said bonds at maturity, but nothing herein shall be construed
to require the approval of said board of supervisors of any resolu-
tion or proceeding adopted or taken by the county school board to
authorize the issuance of said bonds.

7. This act shall be deemed a supplemental and additional method
of issuing bonds by county school boards, but where not in conflict
with the provisions of this act the School Code and the general laws
of the State of Virginia shall apply to the authorization and issuance
of said bonds.

8. All acts or parts of acts in conflict herewith are hereby repealed.

9. An emergency existing, due to the imperative necessity of pro-
viding adequate school facilities in counties of this State, this act
shall take effect and be in force from its passage.