CHAP. 525.—An ACT to empower the council of the town of Cape
nila t0_borrow money and issue bonds therefor to build a
jail.

Approved March 1, 1892.

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1. Beit (enacted by the general assembly of Virginia,
That the council of Cape Charles be, and they are hereby,
authorized to borrow for said corporation, for the purpose
of building a jail in said town, a sum of money not ex-
ceeding fifteen hundred dollars, by the issue and sale of
the bonds of the said corporation.

2. The said bonds shal! be registered, shall be issued in
such denominations as said council shall prescribe, and
shall bear interest at a rate not exceeding six per centum
per annum, payable annually. The principal of said
bonds shall be payable five years after their dates. The
said bonds shal! be signed by the president of the council,
attested by its clerk, with the corporate seal attached, and
shall be sold and negotiated in such manner and upon
such terms as the council shall prescribe: provided that
said bonds be not sold for less than par value.

3. The council of said town shall have power to make
annual appropriations out of the revenue of the corpora-
tion to pay the interest and provide a sinking fund for
the redemption of said bonds.

4, This act shall be in force from its passage.