Chap. 276.—An ACT to amend the Charter of the City of Richinend.
Approved March 29, 1875.

1. Be it enacted by the general assembly of Virginia, That
section sixty-seven, chapter four of the charter of tho city of
Richmond, be and the same is hereby amended so as to read
as follows: | . :

§ 67. The city council may, in the name and for the use
of the city, contract loans, and cause to be issued certificates
of debt or bonds; but such loans, certificates or bonds shall
not be irredeemable for a period greater than thirty-four
years: provided, however, that they shall not contract such
loans or issue such certificates of debt or bonds for the pur-
pose of subscribing to tho stock, or appropriating money or

onds for the benefit of any company incorporated for a
work of internal improvement or other purposes, without
being first authorized so to do by three-fourths of the legal
voters voting on the question, and also by a majority of the
registered freeholders of the city; and the council shall, when
such debts or loan is created, provide a sinking fund forthe
payment of the same. Neither‘shall the city endorse the
bonds of any such company withont the same authority:
provided, however, that the said council may issue or cause
to be issued bonds for other purposes than that for railroads
or.internal improvement companies; but the bonds or inter-
est bearing debt of the city of Richmond shall not, in the
ageregate, exceed eighteen per centum of the assessed value
of the taxable real estate of said city, and any excess of such
bonded or interest bearing debt over and above the limit
herein prescribed, which may be created or issued in viola-
tan of this provision, shall be void as to said city.
. This act shall be in force from and after its pagsage.