Chap. 228.—An ACT to authorize the council of the town of Salem, of Roa-
noke county, Virginia, to issue new bonds of said town sufficient to retire
the bonds issued under the power given it by its charter, known as im-
provement bonds of the town of Salem.

Approved January 30, 1900.

Whereas the council of the town of Salem, under and by virtue of the
thority given it under its charter, approved February twelfth, eigh-
on hundred and ninety-two, did issue certain bonds of the said town,
own as improvement bonds, bearing interest at the rate of six per
ntuum per annum, payable semi-annually, the principal payable twenty
)) years from their date, with the privilege to the said town to pay
me in ten (10) years from said date; and

Whereas the said town desiring to retire the said bonds; therefore,

1. Be it enacted by the general assembly of Virginia, That the council
said town of Salem, in the county of Roanoke, be, and it is hereby,
thorized and empowered to issue a sufficient number of the bonds of
id town, either coupon or registered, of such denominations as to said
uncil may seem best, bearing interest at a rate not exceeding six per
ntum per annum, as may be necessary to retire said bonds or so much
ereof as may be unpaid; the bonds to be issued under this act to be
empt from taxation for town purposes, the interest thereon to be paid
mi-annually, the principal to be paid in twenty (20) years from their
te, with the privilege to said town to pay the said principal in ten
(}) years from their date.

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