Chap. 546.—An ACT to amend and re-enact section 42 of the charter of the
town of Culpeper.

Approved March 2, 1894.

1, Be it enacted by the general assembly of Virginia, That sec-
tion forty-two of the charter of the town of Culpeper be amended
and re-enacted so as to read as follows:
8 42. In order to enable the council to erect a system of water-
works for the town it is hereby authorized and empowered to borrow
for the said corporation a sum or sums of money, not in the aggre-
gate exceeding twenty thousand dollars, to be used for the purpose
of erecting a system of water-works for the said corporation and of
operating the same, and for no other purpose, in the manner here-
after prescribed, namely:

Second. If at any time the said council, evidenced by a recorded
vote of a majority of its members, shall deem it to be to the inter-
est of the corporation to borrow for the purposes above named, or if
fifty of the qualified voters of the said town shall present to the said
council a petition requesting the same, the said council shal! submit
to a vote of the qualified voters of the said town, at such time as it
may prescribe, not exceeding sixty days after the said vote shall have
been taken, or after the said petition shall have been presented as
aforesaid, the question as to whether said sum of money shall be
borrowed, said election to be held as prescribed in sections eighteen
and twenty of this charter.

Third. The said election shall be held and the result thereof cer-
tified in the manner and form, and shall in all particulars conform
to the provisions of sections twelve hundred and forty-four, twelve
hundred and forty-five and twelve hundred and forty-six of the code
of Virginia of eighteen hundred and eighty-seven, so far as they are
applicable thereto, except that the council shall prescribe the form
of the ballots both for and against the said loan, and if three-fifths
of the qualified voters voting at such election shall be in favor of
borrowing such money, and such three-fifths shall comprise a ma-
jority of the freeholders participating in such election, the said
council shall issue for sale the bonds of said corporation, not ex-
ceeding the sum of twenty thousand dollars as aforesaid, or such
lesser amount as may be necessary for the purposes aforesaid, which
bonds shall be registered and shall be issued in such denomina-
tions and bear such interest, not exceeding six per centum per
annum, a8 may be determined by the said council, eaid interest to
be paid semi-annually. The principal of said bonds shall be payable
after twenty years or more from their date, or upon the call of the
said corporation at any time after five years from their date. Said
bonds shall be signed by the mayor and countersigned by the
recorder, and shall be sold or negotiated in such manner as may be
prescribed by the council: provided that they shall not be sold for
less than their par value.

Fourth. The said council may select a depository for the money
arising from the sale or negotiation of the said bonds: provided
they shall require such security therefor as may be approved by the
recorded vote of at least two-thirds of all members of the council.

Fifth. The existence of an indebtedness previously contracted
shall not prevent the borrowing of such additional sums of money
as may be borrowed according to the terms and in the manner herein-
before set forth.

2. All acts or parts of acts inconsistent with this act are hereby
repealed.

3. This act shall bejin force from its passage)