Chap. 9.—An ACT to amend section one, chapter eight, of an act entitled an act
to incorporate the city of Danville, approved February 17, 180.

Approved December 18, 1897.

1. Be it enacted by the general assembly of Virginia, That section
one, chapter eight, of an act approved February sev venteenth, eighteen
hundred and ninety, entitled an act to incorporate the city of Danv ille,
be amended and re-enacted so as to read as follows:

$1. The council may, in the name and for the use and benefit of said
city of Danville, subscribe to the stock of any company incorporated
for the purpose of constructing any improved or artificial road to the
said city, and other incorporated companies: provided, the question of
subscription shall have been first submitted to the qualified voters of
the city, and three-fourths of the legal voters of the city and a majority
of the registered freeholders thereof voting shall have approved the
same. And said council shall have the power and authority, in the
name and for the use and benefit of said city, to borrow money and to
contract loans and issue notes, bonds and certificates of debt, as may be
deemed best, to be used in the discharge of the liabilities and obliga-
tions of said city for the payment, discharge, redemption or refunding
of any outstanding obligations or bonds of ‘said city, or any outstanding
obligations or bonds of the town of North Danville, or the town of
Neapolis, which were assumed by the said city upon and by virtue of
the annexation of said town of Neapolis to said city, whenever said
outstanding obligations or bonds shall mature or become subject to eall,
and are so called by the council of said city for payment, redemption
or refunding, and to provide and maintain a sinking fund for the indebt-
edness of said city, including that assumed for North Danville and
Neapolis as aforesaid; and for this sinking fund there shall be set apart
from the resources of said city a suin equal to one per centum per
annum on the aggregate debt not payable within one year, whether con-
tracted heretofore or hereafter, and the same shall be applied to the debt
of the citv as it shall become due or payable, and if no part be due or
payable it shall be invested in the bonds or certificates of debt of the
city or of this state, or of the United States or of some state of this
union; but no loan contracted shall be irredeemable for a longer period
than thirty -four years, nor shall the outstanding bonded debt of said
city at anv time exce ced the sum of twelve hundred and ten thousand
dollars, which sum shall include the debt of the town of Danville,
named in the amendment to the charter of said town by act of March
first, eighteen hundred and eighty-four, that named in the act approved
April sixth, eighteen hundred and eighty-seven, permitting said town to
subscribe five hundred thousand dollars for railroad purposes, and the
acts since passed amendatory thereof, the additional sum of fifty thou-
sand dollars used for the erection of a market-house and other city
buildings included in or connected therewith, and the bonded debt of
sixty-four thousand nine hundred dollars of North Danville, and the
bonded debt of sixty thousand dollars of Neapolis, which two last
named debts were assumed by the city of Danville for Neapolis as pro-
vided in the act of the general assembly of Virginia, approved March
second, eighteen hundred and ninety-six, annexing said Ne: ipolis to said
city of Danville.
2. This act shall be in force from its passage.