Chap. 156.—An ACT to authorize the mayor and common council of
the town of Liberty to borrow for said corporation a sum of money
not exceeding twenty thousand dollars for the purpose of complet-
ing or making permanent improvements.

Approved February 18, 1888.

1. Be it enacted by the general assembly of Virginia, That.
the mayor and common council of the town of Liberty, be |
and they are hereby authorized and empowered to borrow |
for said corporation, and for the purpose of paying off the
present floating debt of the town, completing the system of
public water works, erecting a public building, establishing
electric or other system oflighting, making permanent improve-
ments to the streets and sidewalks of said town, or for any
one or more of said or other permanent improvements, a sum
May borrow
money on
bonds to a cer-
tain amount

Style and
denomination
of bonds

Bonds exempt
from taxation

To be nego-
tiated upon
certain con-
ditions

May levy and
collect a tax

Amount of
such tax

May purchase
lands, &ec.

The manner

in which
damages are to
be ascertained
and deter-
mined

Shall have
authority only
upon certain
conditions to
issue bonds

The manner of
holding and
conducting the
election

The sense of
the qualified
voters may be
taken

of money not exceeding twenty thousand dollars, by the
issue and sale of the bonds of said corporation as hereinafter
provided.

2. Said bonds shall be coupon, and shall be issued in such
denominations and bear such rate of interest, not exceeding
six per centum per annum as may be determined by said
mayor and common council; said interest to be payable semi-
annually, and said mayor and common council shall have
power to exempt said bonds from municipal taxation. The
principal of said bonds shall be payable in thirty-four years
from their date, or upon the call of said corporation, at any
time after the expiration of ten years from their date. Said
bonds shall be signed by the mayor of said town and counter-
signed by the recorder; and shall be sold and negotiated in
such manner and upon such terms as may be prescribed by
the said mayor and common council.

8. In order to provide for the payment of the accruing
interest on said bonds and of the principal thereof, the said
mayor and common council are hereby authorized and empow-
ered to levy and collect a tax, not to exceed in amount twenty-
five cents on the hundred dollars’ worth of property, to be
known as the improvement tax, and to be applied exclusively
to the purposes of this act.

4. The said mayor and common council shall have the
power to purchase any lands or privileges over any lands
outside of or within the corporate limits of said town for the
purposes contemplated by this act; and if the said mayor
and common council are unable to agree with the owners as
to the price to be paid for said land, or privileges over the
same, then, upon application to the county court of the county
of Bedford, the said court shall appoint commissioners to
ascertain the value of said land, or the damages for the
privileges desired over the same, and proceed as in like cases
as provided by law.

' 5. The said mayor and common council shall have no
authority to issue bonds under this act until they shall have
first taken the sense of the qualified voters of said town, at
an election held after due notice of the time and place thereof
has been given, at which said election the voters shall vote
for an improvement tax and against an improvement tax;
and if it appear from the returns of said election that a
majority of the votes cast and three-fifths of the freeholders
voting are in favor of said improvement tax, then said mayor
and common council shall have the right to exercise all the
powers conferred by this act: provided, that the sense of said
qualified voters may be taken by a single election for the
entire sum authorized by this act, or by successive elections

ff... ... gf ~— ge Ti, a os nianines um 3.2... * . JF...
or elections must be held within two years from the passage
of this act.
6. This act shall be in force from its passage.