CHAP. 438.—An ACT to amend section 2 of an act entitled an
act to authorize the mayor and common council of the town o!
Chatham, in the county of Pittsylvania, to borrow money fol
public improvements.

Approved February 29, 1892.

1. Be it enacted by the general assembly of Vieginia
That section two of an act entitled an act to authorize th

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mayor and common council of the town of Chatham, in
the county of Pittsylvania, to borrow money for public
improvements, approved February twentieth, eighteen
hundred and ninety-two, be amended and re-enacted 80 as
to read as follows:

§ 2. Said bonds shall be issued in denomination of five
hundred dollars, and bear six per centum interest per
annum, said interest to be paid semi-annually on the first
of January and the first day of July by the treasurer
of said town. The principal of said bonds shall be pay-
able in twenty years from date, or upon the call of said
corporation at any time. Said bonds shall be signed by
the’ mayor of said town and countersigned by the clerk of
the common council, and shall be sold and negotiated in
such manner as may be prescribed by the said mayor and
common council: provided that said bonds shall not be
sold or negotiated for less than their par value: and pro-
vided further, that this act shall not be operative until
the question has been submitted to a vote of the people
of said town, and it shall appear by the report of the
board of commissioners that three-fifths of the qualified
voters of said town voting upon the question are in favor
of subscription, and that said three-fifths include a ma-
jority of the votes cast by freeholders at such election
and a majority of the registered voters of said town.

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