Chap. 333.—.An ACT to amend and re-enact section 23 of the act ap-
proved March 28th, 1871, providing a new charter for the town of
* Charlottesville.

Approved April 4, 1577.

1. Be it enacted by the general assemb'y of Virginia, That
section twenty-three of an act entitled an act to provide a
new charter for the town of Charlottesville, approved March
twenty-eighth, eighteen hundred and seventy-one, and sec-
tion twenty-three of the act amending the same, approved
April twenty-eighth, cighteen hundred and seventy-four, and
section twenty-three of the act also amending the same, ap-
proved February twenty-third, eighteen hundred and seven-
ty-five, be amended and re. enacted so as to read as follows:

§ 23. The council of said town may negotiate any loan or
loans, for the purpose of improving the streets, lighting the
same, buying necessary real estate, erecting public buildings,
supplying the town with water, and for other purposes; and
shall have authority to issue registered and coupon bonds for
the said loan or loans, payable not more than twenty years
after the date of said bonds, unless such loan or loans be made
for the purpose of supplying the town with water, in which
case the said bonds may be made payable not more than forty
years after their date; and said bonds shall bear interest at a
rate not greater than eight per centim, payable semi-annu-
ally: provided that two-thirds of the council of said town
shall approve and authorize said loan or Joans: and provided
further, that said loan or loans shall be sanctioned by three-
fifths of the qualified voters of gaid town voting upon the
question; which three-fifths shall include a majority of the
votes cast by those tax-payers of the town, at such election,
who pay a tax on real or personal property assessed at five
hundred dollars, or upwards; and also, a majority of the re-
gistered voters of said town; to be ascertained by a vote
taken and conducted in the manner authorized for any elec-
tion under the charter of the said town, after having civen
notice thereof, by publication for four weeks successively, in
one or more of the newspapers published in the said town.
And at any election held under this section, each balJot shall
be endorsed with the name of the voter, which shall be in-
spected by the officer or officers conducting the election at
their respective voting places: and provided further, that the
council of said town shall, annually, invest in Virginia stute
or United States bonds, as a sinking fund, such proportion ot
the revenue of said town as shall be equal, in cash value, to
one-twentieth of said loan or loans; or in case said loan or
loans be made for the purposo of supplying the town with
water, such proportion of such revenue as shall be equal, in
cash value, to one-fortieth of the loan or loans made for that
purpose; which sinking fund shall be used exclusively for the
payment of the bonds issued for said loan or loans. Any
ond issued under the provisions of this section, shal] be re-
gularly numbered, signed by the mayor, clerk, and treasurer,

and recorded in a book to be kept for that purpose.
Z. This act shall be in force from its passage. ;