CHAPTER 554

iN ACT to amend and reenact § 63, as amended, of Chap 576
of the Acts of Assembly of 1895-6, approved March 8, 1896, re-
lating to taration by the town of Harrisonburg, such chapter
being the charter of Harrisonburg.

[H 719]
Approved April 7, 1950

Be it enacted by the General Assembly of Virginia:
, That § 63, as amended, of Chapter 576 of the Acts of Assembly
f 1895-6, approved March 3, 1896, be amended and reenacted as
lows: at

§ 63. All property, real and personal within said town shall
2 subject to taxation by said town except in cases where there are
exemptions by the Constitution and general laws of this Common-
wealth; but the rate of taxation for all purposes in said town, to-
gether with the levy authorized by the act approved January
twenty-ninth, eighteen hundred and ninety-four, for the purpose
of paying the interest upon the bonded indebtedness of the town,
shall not exceed the rate of three dollars upon the one hundred
dollars of assessed value of real and tangible personal property of
said town, and out of each annual levy there shall be laid aside
by the council a sufficient amount for the semiannual interest on
the bonds authorized by and issued under the act of January
twenty-fourth, eighteen hundred and ninety-four, before any por-
tion thereof is appropriated to any other purpose; and in the
event there is created by. the town any additional bonded, indebted-
ness at any time, as authorized by the provisions of this charter,
there shall be first laid aside out of the entire revenue of the town,
except the school tax, after making due provision for the interest
on said bonds issued under the act of January twenty-ninth, eigh-
teen hundred and ninety-four, a sum sufficient to meet the semi-
annual interest on said bonds before any portion of said revenue
except the school tax is appropriated to any other purpose; but
the council by a three-fourths vote, may exempt from taxation
by the town any bonds hereafter issued under the provisions of
this charter, subject to the exemption in taxation allowed by the
Constitution and general laws of this State. No species of prop-
erty, real or personal, shall be exempt from taxation by said
town except that the council, by a three-fourths vote, may for a
period not exceeding five years, in order to induce the location
within the town of new industrial enterprises, exempt the improve-
ments made and the capital invested in the same from all taxes
except the school tax, but such exemption shall not continue for
a longer period than said five years.