Chap. 180.—An ACT to authorize the mayor and town council of West Point to
borrow money for public improvements.

Approved February 7, 1804.

1. Be it enacted by the general assembly of Virginia, That the
mayor and town council of the town of West Point be, and are
hereby, authorized and empowered to borrow for said corporation,
and for the purposes of procuring for said town a water supply for
fire protection, a sum of money not exceeding eight thousand dol-
lars, by the issue and sale of the bonds of said corporation, as here-
inafter provided.

2. Said bonds shall be issued in denominations of five hundred
dollars, and bear six per centum interest per annum, said interest to
be paid semi-annually, on the first day of January and the first day
of July, by the treasurer of said town. The principal of said bonds
shall be payable in ten vears from date, or upon the call of said cor-
poration at any time. Said bonds shall be signed by the mayor of
said town and countersigned by the clerk of the town council, and
shall be sold and negotiated in such manner as may be prescribed
by the said mavor and town council: provided that said bonds shall
not be sold or negotiated for less than their par value: and provided,
further, that this act shall not be operative until the question has
been submitted to a vote of the people of said town, and it shall ap-
pear, by the report of the board of commissioners, that three-fifths
of the qualified voters of said town voting upon the question are in
favor of subscription, and that said three-fifths include a majority
of the votes cast by freeholders at such election and a majority of
the registered voters of said town. The town council of said town
is hereby authorized to order such election at such a time as it seems
proper, after giving thirty days’ notice by posting notices of the
same at three or more places in said town; said election to be con-
ducted in the same manner as other elections in said town.

3. In order to provide for the payment of the accruing interest on
said bonds and the principal thereof, the said mayor and town coun-
cil are hereby authorized and empowered to levy and collect a tax
not to exceed in amount twenty cents on the hundred dollars’ worth
of property, to be known as the public improvement tax, and to be
applied exclusively to the purposes of this act.

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