Chap. 168.—An ACT to authorize the citizens of the town of Bridgewater, in
the county of Rockingham, through their corporate authorities, to issue
bonds to the amount of two thousand dollars or less.

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Approved February 7, 1894.

1. Be it enacted by the general assembly of Virginia, That it shall
e lawful for the town of Bridgewater, in Rockingham county, Vir-
inia, to issue bonds, to run for twenty years, to the amount of two
housand dollars, or as much as may be necessary, in order to redeem
he outstanding indebtedness of said town, amounting in the aggre-
ate to two thousand dollars or less.

2. That said bonds be issued in denominations of fifty dollars or
he multiple thereof, each to be numbered and registered, and signed
y the mayor and attested by the recorder.

3. That the rate of interest on the same shall not exceed six per
entum per annum, payable annually, certificates of which interest
hall be attached to every bond in the form of. coupons.

4. That said bonds shall be redeemable at any time after ten years,
it the option of the said town. The bonds to be redeemed shall be
letermined by lot.

5. That the said bonds shall not be sold at less than their par
ralue.

6. That the town council be required to set aside every year ten
ents on every hundred dollars of the town’s taxable value to meet
his annual interest, and to constitute a sinking fund, to be applied
o the payment of the principal.

7. That no part of the fund specified in section six shall be ap-
lied to any other purposes than those specified in said section.

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