Chap. 207.—-An ACT to amend and re-enact Section 3079 of the Code of Vir-
ginia, as heretofore amended, in relation to purposes for which cities and
towns may issue bonds, and the amount of such bonds. iS B 154]

Approved March 19, 1938

1. Be it enacted by the General Assembly of Virginia, That sec-
tion thirty hundred and seventy-nine of the Code of Virginia, as here-
tofore amended, be amended and re-enacted so as to read as follows:

Section 3079. Any city or town of this Commonwealth, for any
one or more of the following purposes, namely: to provide for water
supply, water works, electric lights or other lighting system, wharves,
docks, harbors, et cetera, and suitable equipment against fire, or for
erecting or improving school buildings, jails, city or town halls, fire
houses, libraries, museums, and other public buildings, incinerators,
auditoriums, armories, airports and equipment and furnishings for
same; grading, paving, repaving, curbing, or otherwise improving any
one or more of the streets or alleys, or widening existing ones, in such
city or town, or for locating, instituting and maintaining sewers and
culverts in and along any of such streets, or avenues, or alleys, or
any part thereof, or for any other permanent public improvement; or
for funding or refunding existing indebtedness, may issue bonds; but
no city or town shall issue any bonds or other interest bearing certi-
ficates for any purpose or in any manner to an amount which, in-
cluding existing indebtedness, shall at any time exceed eighteen per
centum of the assessed valuation of the real estate in the city or town,
subject to taxation as shown by the last assessment for taxes; but
nothing above contained in this section shall apply to those cities and
towns whose charters existing at the time of the adoption of the
present Constitution, authorize a larger percentage of indebtedness than
is authorized by this section.