Chap. 18.—An ACT to authorize the mayor and common council of
the town of Chatham, in the county of Pittsylvania, to borrow
money.

Approved January 18, 1888.

1. Beit enacted by the general assembly of Virginia, That
the mayor and common council of the town of Chatham be
and they are hereby authorized and empowered to borrow
for said corporation, and for the purpose of bringing water
to and establishing water-works in said town, a sum of money
not exceeding five thousand dollars by the issue and sale of
the bonds of said corporation as hereinafter provided.

2. Said bonds shall be registered and shall be issued in de-
nominations of one hundred dollars, and bear six per centum
interest per annum, said interest to be paid annually. The
principal of said bonds shall be payable in ten years from
date or upon the call of said corporation at any time after
the expiration of five years from this date. Said bonds shall
be signed by the mayor of said town and countersigned by
the clerk of the common council, and shall be sold and nego-
tiated in such manner as may be prescribed by the said
mayor and common council: provided, that said bonds shall
not be sold for less than their par value.

_ 3. In order to provide for the payment of the accruin
interest on said bonds and of the principal thereof, the sai
mayor and common council is 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 water-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 or right of
way through any lands outside of or within the corporate
limits of said town, for the purpose of establishing said water-
works. And if the said mayor and common council are un-
able to agree with the owners as to the price of said lands or
privileges over or right of way through said lands, then, upon
application to the county court of the county of Pittsylvania,
the said court shall appoint commissioners to ascertain the
value of said land or the damages for the privileges over or
right of way through said land desired to be taken for said
purpose, and proceed as in like cases as now provided by law.

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