Chap. 821.—An ACT to amend and re-enact sections 14 and 15 of an act ap
proved January 22, 1892, entitled an act to amend and re-enact the charte
of the town of Marion, Virginia.

Approved March 8, 1894.

1. Be it enacted by the general assembly of Virginia, That sec.
tions fourteen and fifteen of an act approved January twenty-second
eighteen hundred and ninety-two, entitled an act to amend and re.
enact the charter of the town of Marion, Virginia, be amended and
re-enacted so as to read as follows:

§ 14. The council may, in the name of and for the use of the town,
negotiate any loan or loans for the purpose of improving the streets,
lighting the same, buying necessary real estate, erecting public
buildings, supplying the town with water, sewerage, subscribing to
the stock of any company incorporated for work of internal im-
provements, and for other purposes; and shall have power to issue
registered and coupon bonds for the said loan or loans, payable not
more than thirty years after the date of said bonds, and said bonds
shall bear interest at a rate not greater than six per centum per an-
num, payable semi-annually.

§ 15. Before any one of the provisions of the preceding section
shall be operative, two-thirds of the council of said town shall ap-
prove and authorize said loan or loans: and provided, further, that
said loan or loans shall be sanctioned by three-fifths of the qualified
voters voting upon the question, which three-fifths shall include two-
thirds of the votes cast by freeholders of the town voting at such
election, and also a majority of the registered voters of said town,
to be ascertained by a vote taken and conducted as elections of the
like kind are to be taken and conducted under the general laws of
the state, after having given notice thereof, by publication for four
weeks successively in one or more of the newspapers published in the
said town, or, in case no paper is so published, by posting at five
public places in the town, including the court-house. And at any
election held under this section each ballot shall be endorsed with
the name of the voter: and provided, further, that the council of said
town shall annually invest in Virginia state or United States bonds,
or in some other good and safe securities, as a sinking fund, such
proportion of the revenue of said town as shall be equal in cash
value to one-twentieth of said loan or loans, which sinking fund
shall be used exclusively for payment of the bonds issued for said
loan or loans. Every bond issued under the provisions of this sec-
tion shall be regularly numbered, signed by the mayor, recorder and
treasurer, and recorded in a book to be kept for that purpose.

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