CHAP. 299.—An ACT to authorize the council of the city of
Portsmouth to issue bonds and to acquire land for a city ceme-

tery.

Approved February 19, 1890.

1. Be it enacted by the general assembly of Virginia,
That it shall be lawful for the council of the city of
Portsmouth, in order to purchase and improve lands for a
city cemetery, to issue coupon or registered bonds, in sums
not less than one hundred dollars, bearing interest at the
rate of five per centum per annum, payable semi-annually,
said bonds to be payable twenty years after their date,
but redeemable at the pleasure of said city, five years
after date, which bonds shall be known as “ the city of
Portsmouth cemetery bonds”: provided, that the whole
amount of bonds issued under this act shall not exceed
the sum of twenty thousand dollars. The said bonds
shall be signed by the president of the council and the
city treasurer and attested by the city clerk, and the pro-
ceeds thereof shall not be applied or used for any other
purpose than that of buying and improving land fora
new cemetery. The said city council may dispose of said
bonds to the highest bidder therefor, either at public auc-
tion or under proposals to be made public to the city
council, or in such other manner as it may deem expe-
dient, or the same may be used in the purchase of land
for said cemetery: provided, however, that in no case
shall the said bonds be disposed of for less than their
par value.

2. The council of said city shall divide into lots of
suitable size the land so acquired for a cemetery and dis-
pose of said lots from time to time by sale to persons
desiring to purchase same, for such price as it may deem
just; and the amounts realized from the said sales shall
be paid to the treasurer of said city, to be held by him as
hereinafter provided, to be applied exclusively to the pay-
ment of the interest and principal of said bonds until
the same shall have been fully paid, and the residue
thereof the council may dispose of as it may deem proper.

3. The said bonds shall not be subject to any taxation
whatever by the city of Portsmouth. And the council of
said city shall, for the payment of the interest upon said
bonds, levy a special tax, sufficient with the proceeds of
the sale of said lots as provided by the preceding section,
to pay the semi-annual interest on said bonds, or may
provide for the same out of the general levy.

4. The treasurer of the city shall keep the proceeds
from the sales of said lota separate and distinct from all
other funds of the city, to the credit of the “ Portsmouth
cemetery fund,” and the same shall be appropriated for
no other purpose whatever than that authorized by section
two of this act. And so much thereof as shall remain
unexpended after meeting the interest on said bonds,
shal] be kept on interest account until the same is applied
to the redemption of said bonds at such time and under
such provisions as the council of said city may agree
upon.
5. This act shall be in force from its passage.

CHapP. 800.—An ACT to authorize the board of supervisors of
Franklin county to borrow money with which to make the pres-
ent clerk’s office fire-proof in whole or in part.

Approved February 19, 1890.

1. Be it enacted by the general assembly of Virginia,
That the board of supervisors of Franklin county be, and
they are hereby, authorized to borrow a sum of money, not
exceeding ten thousand dollars, with which to make the
present clerk’s office fire-proof, in whole or in part.

2. That said loan shall be effected by issuing the bonds
of the county, signed by the chairman of said board and
countersigned by the clerk, payable not more than thirty
years after the date of issue; the said bonds to be for the
sum of five hundred dollars each, with coupons attached
for the semi-annual interest, and ‘the principal shall be
made to fall due in sums of two thousand dollars each
year, so that all of the bonds shall become due and be
paid off in sums of two thousand dollars each consecutive
year after payment of them is begun.

3. The said board of supervisors may fix the rate of

interest which the said bonds shall bear; but said rate
shall not exceed six per centum per annum.
_ 4, The said board of supervisors shall have full power to
negotiate the said bonds through an agent, or in any way
they may think best, and may deposit the proceeds in the
Franklin bank, or in any other bank selected by them,
subject to their order, pending the completion of the work
ordered by them under this act: provided, however, that
they shall not negotiate the six per centum bonds of the
county for less than par value.

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