CHAP. 367.—An ACT to authorize the council of the city of Ports-
mouth to issue bonds to acquire land for a cemetery.

Approved February 25, 1890.

1. Be it enacted by the general assembly of Virginia,
That it shall be lawful for the council of the city of
Portsmouth, in order to purchase and improve land for a
city cemetery, to issue coupon or registered bonds in sums
not less than one hundred dollars, bearing interest at the
rate of five per centum per annum, payable semi-annually,
said bonds to be payable twenty vears after their date, but
redeemable, at the pleasure of said city, five ‘years after
date, which bonds shall be known as the city of Ports-
mouth cemetery bonds: provided, that the whole amount
of bonds issued under this act shall not exceed the sum
of twenty thousand dollars. The said bonds shall be
signed by the president of the council and the city trea-
surer, and attested by the city clerk, and the proceeds
thereof shall not be applied or used for any other purpose
than that of buying and improving land for a new ceme-
tery. The said city council may dispose of said bonds to
the highest bidder therefor, either at public auction or
under proposals, to be made public to the city council, or
in such other manner as it may deem expedient, or the
same may be used in the purchase of the land for said
cemetery: provided, however, that in no case shall the
said bonds be disposed of for less than their par value.

2. The council of said city shall divide into lots of suit-
able size the land so acquired for a cemetery, and dispose
of said lots, from time to time, by sale to persons desiring
to purchase the same for such price as it may deem just,
and the amounts realized from the said sales shall be paid
to the treasurer of said city, to be held by him as herein-
after provided, to be applied exclusively to the payment
of the interest and principal of said bonds until the same
shall have been fully paid, and the residue thereof the
council may dispose of as it may deem proper.

3. The said bonds shall not be subject to any taxation
whatever by the city of Portsmouth; and the council of
said city shall, for the payment of the interest upon said
bonds, levy a special tax sufficient, with the proceeds of
the sale of said lots, as provided by the preceding section,
to pay the semi-annual interest on said bonds, or may pro-
vide for the same out of the general levy.

4. The treasurer of the city shall keep the proceeds from
the sales of said lots, separate and distinct from all other
funds of the city to the credit of the Portsmouth ceme-
tery fund, and the same shall be appropriated for no other
purpose whatever than that authorized by section two of
this act; and so much thereof as shall remain unexpended
after meeting the interest on said bonds shall be kept on
interest account until the same is applied to the redemp-
tion of said bonds at such time and under such provisions
as the council of said city may agree upon.

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

CHAP. 368—An ACT to amend and re-enact sections 1 and
7 of chapter 322, acts of assembly 1887, to incorporate the
chester clay-worki ng company.

Approved February 25, 1890.

1. Be it enacted by the general assembly of Virginia,
That sections one and seven, chapter three hundred and
and twenty-two, acts of assembly of eighteen hundred and
eighty seven, entitled “‘an act to incorporate the Chester
clay-working company,” be amended and re-enacted so as
to read as follows:

§1. Be it enacted by the general assembly of Virginia,
That J, W. Phillips, George M. Wilson, R. A. Dunlop, M.
T. Clark, G. E. Robertson, and A. Gary, their associates,
assigns, and successors, are hereby constituted a body poli-
tic and corporate by the name of the Chester clay-working
company, and shall have all the rights, powers, and fran-
chises necessary for the purpose of manufacturing, buy-
ing, and selling articles made from vegetable, mineral, or
other material, and may erect buildings, piers, and other
structures, and may construct drains, culverts, tunnels,
walkways, and roadways.

§7. The directors shall have power to issue bonds in
sums of one hundred dollars and multiples thereof, and
to secure the same by mortgages and deeds of trust.

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