CHAP. 664.—An ACT to authorize the mayor and councilmen of
the town of Abingdon to borrow money and issue bonds there-
for for the purpose of building a suitable and sufficient school-
house for the Cave City school district.

Approved March 3, 1892.

1. Be it enacted by the general assembly of Virginia,
That the mayor and councilmen of the town of Abingdon,
be, and they are hereby, authorized to borrow for the said
corporation and for the purpose of building a suitable
and sufficient school-house in the said town for the use
of the Cave City school district a sum of money not ex-
ceeding twenty thousand dollars by the issue and sale of
bonds of the said corporation as hereinafter provided.

2. Said bonds sball be registered and shall be issued in
such denominations and bearing such rate of interest not
exceeding six per cemtum per annum, as may be deter-
mined by the said mayor and councilmen, said interest to
be payable semi-annually. The principal of the said
bonds shall be payable in twenty years from their date
and upon the call of the said corporation at any time
after five years from the date of said bonds; said bonds
shall be signed by the mayor of the said town and coun-
tersigned by the clerk of the town council, and shall be
sold and negotiated in such manner and upon such terms
as may be prescribed by the said mayor and common coun-
cil: provided that the said bonds shall not be sold for less
than five per centum of their par value.

3. In order to provide for the payment of the accruing
interest on said bonds and of the principal thereof, the
said mayor and councilmen are hereby authorized and
empowered to levy and collect an assessment for that pur-
pose, not exceeding twenty-five cents on the one hundred
dollars worth of property, to be applied exclusively to the
purpose of this act.

4, The said mayor and councilmen shall have the power
to purchase any lands, or privileges upon, or own any
lands within the corporate limits of the said town, or
within the limits of the said school district for the pur-
pose of erecting thereon school-houses for the use of the
said district; and if the mayor and councilmen are unable
to agree with the owners as to the price to be paid for the
land, or privilege upon, or on the same, upon application
to the county court of Washington county, the said court
shall appoint commissioners to ascertain the value of the
Said land or the damage for the privileges desired, and
proceed as in like cases as is provided by law; provided
that said mayor and councilmen shall have no authority
to issue bonds under this act until they shall have first
taken the sense of the qualified voters of the said town at
an election held after thirty days’ notice of the time and
place thereof has been given by posting the same on the
front door of the court-house in the said town, at which
said election the voters will vote—‘“ For building school-
houses, “and” Against building school-houses;” and if it
appears from the returns of the said election that a ma-
jority of the said votes cast, and a majority of the free-
holders voting in said election are in favor of issuing said
bonds, then said mayor and councilmen shall have the
right to exercise all the powers conferred by this act: and
provided further, that an election held under it must be
held within two years of the passage of this act: and pro-
vided further, that no such election shall be held within
thirty days of the time of the holding of any other elec-
tion in the said town or within Washington county.

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

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