CHAP. 539.—An ACT to authorize the board of supervisors of
Warwick county to borrow money by the issue of bonds, and to
provide for the payment thereof.

Approved March 1, 1892.
1. Be it enacted by the general assembly of Virginia,

That the board of supervisors of Warwick county be, and
they are hereby, authorized and empowered to issue bonds

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in the name and on behalf of Warwick county for a sun
not to exceed in the aggregate twenty-five thousand dol
lars, and to sell the said bonds under such conditions a
are hereinafter prescribed.

2. That the money secured from the sale of said bond:
8hall be applied to the payment of such claims against th
said county as shal] have accrued prior to the first day o:
January, eighteen hundred and ninety-two, and to the
payment of all claims now due, or which may hereafter be.
come due, for the erection of and furnishing the new court
house, jail and clerk’s office, now in process of construc.
tion at Newport News.

3. That the bonds issued by authority of this act shall
be coupon bonds of not less in denomination than one
hundred nor more than five hundred dollars each, and
payable in not less than five nor more than fifty years ‘from
their date, and bearing interest, payable semi-annually.
at the rate of not more than six per centum per annum.
Said bonds shall be signed by the chairman of the board
of supervisors and attested by the clerk of the county
court of said county, and shall have affixed thereto the
seal of the said board of supervisors.

4. That the said bonds shall not be sold for less than
their par value, and the coupons for interest to accrue
thereon shall be redeemable in lawful money at maturity,
and shall be receivable for all taxes and debts due to the
county of Warwick, except school levies.

5. That the board of supervisors of the said county shall,
in addition to the levy for county expenses, annually levy
upon such subjects for taxation as are now or may here-
after be liable by law for the county levy a sufficient sum to
meet the interest on the said bonds as it may accrue, and to
retire and cancel such a portion of said bonds as will re-
deem the whole within the time they shall run, according
to their tenor and date; and the faith and the property of
the county of Warwick are pledged to the prompt pay-
ment of the principal and interest of said bonds.

6. That all money realized from the sale of the said
bonds shall be received by the treasurer of the said county,
who shall be liable on his official bond for the proper cus-
tody and disbursement thereof, and he shall be entitled to
receive for his services acommission of two per centum for
the amount that shall pass through his hands, and he shall
account for the same to the board of supervisors of said
county.

7. That the said bonds and coupons shall be redeemable
at the office of the treasurer of Warwick county, and when
redeemed by him shall be marked paid and cancelled.

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