Chap. 241.—An ACT to authorize the city of Bristol to make an additional issue
of bonds for the purpose of further improving its water works system and re-
funding its floating indebtedness.

Approved May 14, 1903.

1. Be it enacted by the general assembly of Virginia, That the coun-
cil for the city of Bristol, Virginia, may issue bonds of said city to the
amount of twenty thousand dollars, in addition to the issues of bonds
heretofore authorized by former acts of the general assembly, for the
following purposes, to-wit: Ten thousand dollars of said issue may be
used for the further improvements of its water works system, and ten
thousand dollars of said issue may be used for refunding outstanding
floating indebtedness which now exists in the form of warrants, notes,
and accounts.

Said bonds shall be issued in denominations of not less than one hun-
dred dollars, nor more than one thousand dollars, at such times as the
council for the said city may determine, and shall bear interest at the
rate of not more than six per centum per annum, payable semi-annually,
and said bonds and interest shall be payable at such place as the said
council may provide, and said bonds shall become due and payable not
later than fifteen years after date thereof, and shall be signed by the
mayor and countersigned by the clerk of the council for said city.

The bonds herein authorized to be issued may be issued, anything
in the charter of the said city of Bristol, Virginia, to the contrary not-
withstanding.

2. The bonds issued by authority of this act for the improvement of
the water works system shall constitute a lien upon said system, and all
bonds issued hereunder shall be pledged by the faith, credit, and all pro-
perties belonging to said city.

8. The council of the city of Bristol, Virginia, is hereby authorized
and directed to levy a special tax upon all taxable property in the said
city, such as may be necessary for the payment of principal and in-
terest of the bonds hereby authorized. Said tax shall be levied annu-
ally at the time and in the same manner that the taxes for the current
expenses of said city are levied, and the interest coupons attached to
said bonds shall be receivable in payment of taxes due the said city.
The special taxes hereby authorized, and any other collections or reve-
nues reserved by the council of said city for same, shall not be used
for any purpose other than the payment of the principal and interest
of said bonds, or in making investments for a sinking fund for the pav-
ment of principal of said bonds.

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