Chap. 355.—An ACT to amendand re-enact section 57 of an act ap-
proved March 20, 1874, entitled an act providing a charter for the
city of Manchester.

Approved April 4, 1877.

1. Be it enacted by the general assembly of Virginia, That
section fifty-seven of an act approved March twenty, eigh-
teen hundred and seventy-four, entitled an act providing a
charter for the city of ,Manchester, be amended and re-
enacted so as to read as follows:

§57. Whenever hereafter there shall be contracted by the
city council any debt not payable within one year thereafter,
there shall be set apart annually for thirty-four years, or
until the debt is paid, a sum not less than one per centum of
the amount of such debt, in addition to the annual interest
agreed to be paid thereon, which sum shall be applied and
invested. towards the payment of such debt. The bonded
debt of the city shall not be increased, except for the pur-
pose of paving, macadamizing or graveling the streets of
said city, or funding the present unbonded indebtedness of
the city. And no increase which may be made in said bonded
debt for any of the purposes such increase is hereby autho-
rized, shall exceed the sum of sixty thousand dollars. ll
bonds which may hereafter be issued by the city council in
pursuance of this act, shall specify on their face the purpose
for which they are issued; and any such bonds, or the pro-
ceeds of the sale thereof, shall not be applied, or in any way
used for any purpose other than that for which said bonds
were issued. That hereafter the said city council sball im-
pose such taxes as shall be sufficient, with the other ordinary
revenues of the city, to pay the interest on the bonded debt,
and the other annual current expenses of the city.

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