Chap. 30.—An ACT to ratify and validate, for all purposes, an issue of $750,000 of
certificates of indebtedness of the Virginia Agricultural and Mechanical College
and Polytechnic Institute, at Blacksburg, issued pursuant to the provisions of
Section 58 of Chapter 428 (the Appropriation Act) of the Acts of 1938, which are
now owned and held as a part of the State Literary Fund, to authorize the sale
of same to the general public by the State Board of Education, and to validate
and re-enact all of the provisions of said Section 58. [SB 83]

Approved February 9, 1940

1. Be it enacted by the General Assembly of Virginia, That
the certificates of indebtedness amounting to seven hundred and fifty
thousand dollars, which were issued by the Virginia Agricultural and
Mechanical College and Polytechnic Institute pursuant to the pro-
visions of section fifty-eight of chapter four hundred and twenty-
eight (the Appropriation Act) of the Acts of the General Assembly of
nineteen hundred and thirty-eight, approved April first, nineteen
hundred and thirty-eight, and which were not sold to the general
public because of doubt as to the title of the act being sufficiently
broad to authorize the issuance of same for purposes of public sale,
but which are purchased by and are now held by the State Board of
Education as a part of the State Literary Fund, be and the said
certificates hereby are ratified and validated for all purposes and as
provided in said section fifty-eight of the said Act of nineteen hun-
dred and thirty-eight, and the State Board of Education is hereby
authorized to sell said certificates in the open market to such pur-
chasers as may be available.
2. Be it further enacted that all of the provisions of said section
ifty-eight of said chapter four hundred and twenty-eight of the Acts
of nineteen hundred and thirty-eight are hereby validated and re-
enacted.

3. An emergency existing, in that there is immediate demand for
loans from the Literary Fund, this act shall take effect and be in force
from the time of its passage.