Chap. 131.—An ACT to Authorize the Corporation of Farmville to Borrow
Money for the Purpose of Erecting a Courthouse, Clerk’s Office, and
Jail, in said Town.

Approved March 15, 1871.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the council of the town of Farmville, in
the name and for the use of the corporation of the town of
Farmville, to borrow money to an amount not exceeding thir-
teen thousand dollars, at a rate of interest not exceeding ten
per centum per annum; and for that purpose, said council shall
have authority and power to order an election, after not less
than ten days’ public notice, for the purpose of taking the
sense of the qualified voters of said town of Farmville, upon
the question, shall the council issue the bonds of Farmville as
provided by this act; and if a majority of the votes cast at
said election shall be in favor of the issue of said bonds, not
exceeding thirteen thousand dollars, then the said council shall
provide by ordinance for the making, issuing, and selling of
bonds, registered or with coupons, to an amount not exceed-
ing thirteen thousand dollars, in such sums, and payable at
such time, and bearing such rate of interest, not exceeding ten
per centum per annum, payable semi-annually, as said council
may prescribe: provided, that the bonds issued in pursuance
of this act shall be made payable within not less than five nor
more than twenty years from the dates thereof, and shall be
signed by the mayor of the town of Farmville, and attested by
the clerk of said corporation, and have the seal of the corpora-
tion attached thereto.

2. It shall be the duty of said council to use and apply the
money borrowed or realized by the sale of bonds as aforesaid,
to the payment of the contract for the purchase of a lot of
land, building a courthouse, clerk’s office, and jail, for the
county of Prince Edward, and for no other purpose.

3. It shall be the duty of the council, from time to time, as
the interest or any part of the principal of said bonds shall
become due, to levy on all the lands and other subjects liable
to state tax and county or town levy, including licenses, in the
corporate limits of the town of Farmville; such tax to pay
said interest, and to create a sinking fund to redeem the said
principal becoming due, as the council may deem necessary
and proper; and from year to year it shall repeat such assess-
ments or levies, until the interest and principal of said bonds
are fully paid. But such levy for any one year shall not ex-
ceed one-tenth of the whole amount of the principal of said
bonds and the interest due. |

4, If the town of Farmville shall not be established by law
as the place of holding the courts of the county of Prince Ed-
ward, then the power and authority given by this act to the
said council shall be revoked.

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