Chap. 330.—An ACT to authorize the Common Council of the City of
Petersburg to Borrow Money and Issue and Sell Bonds of said City to
an Amount not exceeding $200,000, bearing Interest not exceeding
Hight per centum per annum.

Approved March 23, 1872.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the common council of the city of Peters-
burg, in the name and for the use of said city, to borrow
money to an amount not exceeding the sum of two hundrec
thousand dollars, at a rate of interest not exceeding eight per
centum per annum; and for that purpose, said common coun.
cil shall have power and authority to provide by ordinance fot
the making, issuing and selling of registered or coupon bonds
of the said city of Petersburg, to an amount not exceeding
the sum of two hundred thousand dollars, in such sums and
payable at such times, and bearing such rate of interest, not
exceeding eight per centum per annum, payable semi-annually.
as said council may prescribe.

2. It shall be the duty of said common council to use and
apply the money borrowed or realized by the sale of bonds as
aforesaid, to the payment of the principal and interest of the
ten and five-eighths bonds of the city of Petersburg, issued by
said city for the improvement of the Appomattox river, and
any other bonds of said city running to maturity.

3. This act shall be in force from its passage.