Chap. 96.—An ACT to Amend section 41 of an Act entitled an Act
Providing a Charter for the City of Norfolk, in force March 16, 1871.

Approved March 14, 1874.

1. Be it}enacted by the general assembly, That section
forty-one of an act entitled an act providing a charter for the
city of Norfolk, in force March sixteenth, eighteen hundred
and seventy-one, be amended and re-enacted so as to read as
follows:

“841. The city councils may, in the name and for the use
of the city, contract loans, or cause to be issued certificates
of debt or bonds; but such loans, certificates, or bonds shall
not be irredeemable for a period greater than thirty-four

ears: provided, however, that they shall not contract such
oans, or issue such certificates of debt or bonds, for the pur-

ose of subscribing to the stock of any company incorporated
or a work of internal improvement or other purposes, with-
out first being authorized so to do by three-fourths of the
legal voters of the city; and that they shall not issue any
such certificates of debt or bonds, or incur any indebtedness
in the name of or for or on account of the city, or increase
the said indebtedness, at any time, to an amount greater than
twenty per centum of the assessed value of property, real
‘and personal, set forth and contained in the rolls or books of
assessment of the commissioner of the revenue of the city;
neither shall the city endorse the bonds of any such com-
pany without being previously authorized as aforesaid so
to do.”

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