Chap. 1010.—An ACT to authorize the school trustees of school district num-
ber 5, in Norfolk county, to sell and convey certain school-houses and lots
in the town of Berkley and the village of South Norfolk.

Approved March 7, 1900.

1. Be it enacted by the general assembly of Virginia, That the dis-
trict board of school trustees for school district number five, in the
county of Norfolk (Washington magisterial district), be authorized and
empowered to sell and convey the public free school houses and the lots
upon which they are located, situated in the town of Berkley, and being
that certain block or square of land bounded by Mahone avenue, Sixth
street, Walker avenue, and Fifth street; also the publie free school
house and the lots upon which it stands, situated in the village of South
Norfolk, fronting on Jackson street, and lving between Guerrier and
Ohio streets; and that the said district board of school trustees shall, in
their discretion, invest the proceeds arising from said sale, in other
public free school property, to be located in more suitable and convenient
places in said town of Berkley and village of South Norfolk, respec-
tively; and the said board of trustees may erect any public free school
buildings upon land purchased or leased by the said board, or upon such
land in the town of Berkley as the United States government may
permit them to use for that purpose.

2. That the said school trustees are authorized and empowered to
convey by deed with covenanty of special warranty, the property herein
authorized to be sold, and such conveyance shall vest in the purchaser
or purchasers all title to said property held by said district school board
at the time of such sale. The deed or deeds of conveyance herein pro-
vided for shall be in the name of school district number five, in the
county of Norfolk, by a chairman of said district school board of trus-
tees, attested by its clerk, who shall affix thereto a corporate seal to be
provided by said trustees for said board.

3. That it shall be lawful for the said district board of school trustees
to borrow money, not to exceed the sum of twenty-five thousand dollars,
and to issue bonds therefor.

4. That the money so borrowed by said board shall be expended in
acquiring lands for public free school purposes and in the construction
and equipment of suitable and sufficient school buildings thereon in
the town of Berkley and village of South Norfolk.

5. That the said bonds shall be in such denominations as the said
board shall prescribe, and bear interest not to exceed five per centum
per annum, payable annually, with interest coupons thereto attached,
and the principal thereof to be paid in not less than ten years, nor more
than twenty years after the date thereof; the said board to reserve the
privilege of paying the same at any time after ten years from the date
of said bonds, and they shall be in the form following:

Know all men by these presents, That school district number five, in
the county of Norfolk, state of Virginia, is justly indebted to the
——___—_—_ —_——— or bearer the sum of ———————————- dollars,
redeemable ten years after the date hereof, at the option of the board of
school trustees for said school district, and payable twenty years after
date, with interest thereon at the rate of five per centum per annum
from date, payable annually, on surrender of the proper coupons hereto
attached until payment of the principal sum.

In testimony whereof the board of school trustees of the said district
has caused the corporate seal of the said district to be affixed hereto, and
these presents to be signed by its chairman, and attested by its clerk,
this, the —-————- day of ———_——_—_, nineteen hundred —-_———.

And the said bonds shall be signed by the chairman and attested by
the clerk of said board, and have the corporate seal of said school dis-
trict affixed thereto.

6. That any and all bonds which shall be issued in accordance with
the provisions of this act shall be a lien upon all the school property
of said school district number five in the county of Norfolk, and the
said school property shall be pledged for the payment of the principal
and interest thereof according to their tenor and date. And the said
board of school trustees shall provide for the payment of the accruing
interest, and at least one-twentieth of the principal of said bonds an-
nually, and shall include in the annual estimate of the amount which
shall be needed in said district under clause eight, section fourteen hun-
dred and sixty-six, of the code of eighteen hundred and eighty-seven,
a sum for that purpose in addition to what shall be necessary to defray
other lawful expenses therein mentioned, which sum shall be appro-
priated to the payment of said interest and provide a fund for the
redemption of said bonds: and it is further provided, that it shall be
lawful for said board of trustees to include in their annual estimate for
said school district, for the purpose of said redemption fund, a district
school tax of not more than five cents on the hundred dollars of the
taxable value of the property in said school district in addition to the
tax provided for in the third clause of section fifteen hundred and six
of the code, eighteen hundred and eighty-seven, and the board of super-
visors shall levy a tax on the property in said district not to exceed five
cents on the hundred dollars of taxable property therein for said re-
demption fund in addition to the tax provided for in third clause of
section fifteen hundred and six of the code, as a special fund for redeem-
ing said bonds, if required so to do by the said board of school trustees.

7. The bonds to be issued under the provisions of this act shall not
be subject to any tax whatever by the county of Norfolk.

8. ‘The said bond or bonds may be issued and sold by said board of
trustees for the purpose of raising said sum of money or any part
thereof: provided, they shall not be sold for less than their par value.

9, This act shall be in force from its passage.