Chap. 213.—An ACT to authorize the council of the town of Jeffer-
sonville to borrow money.

Approved May 14, 1887.

1. Beit enacted by the general assembly of Virginia, That
the council of the town of Jeffersonville be and it is hereby
wuthorized and empowered to borrow in the name of, and for
said corporation, for the purpose of bringing water to 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 coupon bonds, and shall be issued
in such denominations, in such form, and bear such rate of
interest, not exceeding six per centum per annum, as may be
determined by said council, the coupons of said bonds to be
receivable for all taxes due said corporation. The principal
of said bonds shall be payable in five years from their date,
or upon the call of said corporation at any time after the
expiration of one year from their date. Said bonds shall be
signed by the mayor of said town and countersigned by the
recorder of said council, and shall be sold and negotiated in
such manner as may be prescribed by said council: provided
they are not sold at a greater discount than ten per cent.

3. The said council shall set apart cach year at least the
sum of two hundred dollars as a sinking fund for the redemp-
tion of the principal of said bonds, and it shall be so stated
on the face of the said bonds.
4. The said council shall levy and collect such an amount
of taxes as may be necessary to comply with the provis-
ions of this act.

3. All acts and parts of acts in conflict with this act are
hereby repealed.

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