Chap. 902.—An ACT to authorize the city of Bristol, Virginia, to issue bonds
for street, water-works system, and other improvements, and to provide
the mode of issuing the same, and to provide for the disposition of the
funds arising from the sale of the same.

Approved March 6, 1900.

1. Be it enacted by the general assembly of Virginia, That the
council for the city of Bristol, Virginia, may, after the first day of July,
in the year nineteen hundred, issue bonds of the said city for sixty thou-
sand dollars, and that on and after the first day of January, nineteen
hundred and one, said council may issue bonds of said city for forty
thousand dollars in addition to the said sixty thousand dollars of the
said bonds, to be known as improvement bonds for the city of Bristol,
Virginia; said bonds shall be of the denomination of one hundred dol-
lars, or its multiple, bearing interest at a rate not to exceed six per
centum per annum, interest pavable semi-annually at the office of the
treasurer of said city of Bristol, Virginia, or at some bank or banking
house of one of the following cities—namely: Bristol, Virginia; Rich-
mond, Virginia; and Lynchburg, Virginia; Baltimore, Maryland; New
York, state of New York, or other places as the council of said city
may direct or designate. Said bonds shall be in such form as the said
council may prescribe: be signed by the mayor of the said city of
Bristol, countersigned by the clerk of said council, and under the seal of
said city. Said bonds shall be irredecmable for a period not greater
than thirty-four vears: provided further, that a sufficient sum arising
from the sale of said first issue of bonds may be appropriated by said
council for the improvement of the water-works system of said city,
and they may appropriate such sums as may be necessary to improve
and put in such condition Beaver creck from the culvert on the Nor-
folk and western railway company’s line to the Tennessee line as far
as practicable to prevent the overflow of the same in times of high tide,
and to make such other improvements in the channel of said creek as
the council may deem expedient and advisable: and provided further,
that said council shall appropriate a suflicient sum arising from the
sale of the first issue of said bonds as may be necessary to pave Cum-
berland street from Moore to Front street, and to pave Front, Lee,
and Moore streets from said Cumberland street to Main street, on such
terms with the adjacent property owners on said streets as to a pay-
ment by them of the portion of the expense of the same as may be in
proportion to the benefits accruing to said property by reason of said
improvement, as may be agreed upon between said property owners and
the council of said city, or that may be fixed by a proper proceeding
under the charter of said city. Said bonds may be issued notwith-
standing the provision of the city charter limiting the total indebted-
ness of said city to fifteen per centum of the value of real and personal
estate assessed for taxation in said city: provided, said indebtedness,
by reason of said bond issue for the purposes herein named shall not
exceed twenty per centum of the value of the real and personal estate
in said city as assessed for taxation. Said city is hereby given the power
tc exercise the right of eminent domain for the purpose of securing,
conveying or improving a supply of water for said city, and for estab-
lishing public parks therefor, and for whatever other purposes may, in
the opinion of said council, be necessary for the health, convenience,
or welfare of the citizens of said city, and may have all necessary lands
and riparian rights condemned according to law, whether said lands
lie within or without the corporate limits of the city of Bristol, and
in this state. If said council shall not be able to agree with the owners
of any of such lands or riparian owners, for the uses and purchases
thereof, they may have the same condemned according to law, and
such condemnation proceedings may be had in the corporation court
for the city of Bristol, Virginia, as may be had under chapter forty-six
of the code, whether said lands lie within or without the corporate
limits of said city: provided further, that all of the funds arising from
the sale of said bonds shall be paid into the hands of the treasurer
of said city, and he shall receive such commission for receiving and dis-
bursing said funds as the council may prescribe, not to exceed one-half
of one per centum: provided further, that the council of said city shall
levy and collect such an amount of taxes per annum as may be neces-
sary to pay the interest on such bonds, and to provide a sinking fund
sufficient to pay the principal of the same at maturity.

2. All acts and parts of acts in conflict with this act are hereby
repealed.

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