Chap. 90.—An ACT to authorize the town of Harrisonburg to issue bonds and
borrow money for the purpose of paying its existing indebtedness.

Approved January 29, 18904.

1. Be it enacted by the general assembly of Virginia, That it shall
be lawful for the town of Harrisonburg, in the county of Rocking-
ham, state of Virginia, to issue the bonds of the town, not to exceed
in the aggregate the sum of seventy-five thousand dollars, in order
to redeem the outstanding bonds of said town, and pay its floating
indebtedness, not exceeding four thousand dollars.

2. The bonds so issued shall be thirty-year coupon bonds, of the
denominations of one hundred and of five hundred dollars each,
numbered and registered or payable to bearer, signed by the mayor
and attested by the recorder of said town, and shall bear interest at
a rate not exceeding six per centum per annum, payable semi-annu-
ally, and shall be redeemable at any time after the expiration of
twenty years, at the option of the town, the bonds to be redeemed to
be designated by lot.

3. The bonds issued under this act shall not be sold for less than
par, and the town council of said town shall provide for the payment
of the semi-annual interest by levying annually for the thirty years
the bonds have to run, unless sooner paid off, a tax sufficient to pay
the semi-annual interest on said bonds. The taxes so collected
inder this act shall be used only for the purposes aforesaid.

4. The bonds authorized under this act shall be issued in such
sums and at such times as may be necessary to redeem the said
ponds of said town now outstanding, and to provide for said floating
indebtedness, as the council of said town may authorize by a two-
thirds vote of all of its members.

5. The rate of taxation in said town, together with the levy au-
thorized by this act for the purpose of paying the interest upon said
bonds, shall not exceed the rate of one dollar and twenty-five cents
upon the one hundred dollars of assessed value of real and personal
property of said town, and out of each annual levy there shall he
laid aside by the council a sufficient amount for the semi-annual in-
terest on said bonds before any portion thereof is appropriated to
Any other purpose; and at the maturity of the said bonds upon the
expiration of the said thirty years, the council of said town shall
make lawful provisions for their payment.

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