Chap. 53.—An ACT to authorize and empower the State Board of Education to
waive or modify certain statutory limitations and restrictions on making loans
from the literary fund to county and city school boards, and to confer on the
State Board of Education discretionary powers in lending money from the
literary fund to school boards, for the purpose of enabling school boards to
meet, to comply with and to take advantage of the provisions of an act of
the Congress of the United States, known as the National Industrial Recovery
Act, approved June 16, 1933. [H. B. 17]

Approved September 13, 1933

1. For purposes of enabling county and city school boards to meet,
comply with, and take advantage of the provisions of an act of the
Congress of the United States, entitled an act to encourage national
industrial recovery, to foster fair competition, and to provide for the
construction of certain useful public works, and for other purposes, ap-
proved June sixteenth, nineteen hundred and thirty-three, and known
as the National Industrial Recovery Act, be it enacted by the General
Assembly of Virginia as follows:

Section 1. The State Board of Education may in its discretion ac-
cept a certificate of the attorney for the Commonwealth for the county
or city that he has examined the title of the land on which such build-
ing or structure is to be erected and that the title thereto is free from
all liens or encumbrances.

Section 2. The State Board of Education, may in its discretion,
waive or modify the provisions of section six hundred and forty-two of
the Code of Virginia as follows: it may increase the amount of loan
from twenty-five thousand dollars on any one project to fifty thousand
dollars ; it may increase the ratio of loan to total cost from two-thirds
cost of the school house and addition thereto, to such an amount as the
State Board of Education in its discretion may deem wise.

Section 3. The State Board of Education may, in its discretion,
waive or modify the provisions of section six hundred and forty-three
so that the term of years for making payments, and the method of pay-
ments by which the loan is to be repaid, may be made to conform in
general to the plan of repayment of loans as may be set up under the
provisions of the said National Industrial Recovery Act.

Section 4. The State Board of Education may formulate rules and
regulations for advancing or paying in installments to any school board
any money borrowed from the literary fund.

Section 5. The powers conferred upon the State Board of Education
by the provisions of this act shall cease to exist at the expiration of two
years and six months from the date this act becomes effective.

2. An emergency existing, this act shall be in force from its passage.