Chap. 300.—An ACT to enable the county of Stafford to replace its bonds bear-
ing six per cent. interest with bonds bearing five per cent. interest, and to
authorize the issue of said bonds bearing interest at five per cent.

Approved February 12, 1896.

Whereas by three several acts of the general assembly of Virginia,
March eighteenth, eighteen hundred and eighty-four, and February
twentieth, eighteen hundred and eighty-six, respectively. the county
of Stafford was authorized and empowered to build a bridge across
the Rappahannock river, at or near the town of Falmouth, in said
county, and to issue the bonds of Stafford county in payment for the
same; and

Whereas the said county of Stafford, in pursuance of said author-
ity, did issue the bonds of said county bearing six per centum in-
terest, dated the first day of January, eighteen hundred and eighty-
81x, payable thirty years after date, and redeemable ten years after
date, at the option of the said county of Stafford; and

Whereas the said ten years have expired and the said bonds are
now redeemable; and

Whereas the county of Stafford is desirous of calling in and re-
deeming the said bonds of the said county bearing six per centum
interest, and replacing them with bonds bearing five per centum in-
terest; and

Whereas the board of supervisors of the said county of Stafford,
by an order entered at its meeting January fifteenth, eighteen hun-
dred and ninety-six, has directed the treasurer of the county to call
in and redeem the twenty-four thousand dollars of its bonds out-
standing and bearing six per centum interest and replace the same
with an amount of bonds bearing five per centum interest as here-
inafter provided:

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Stafford county, Virginia, is authorized and
empowered to issue the bonds of the county of Stafford in an
amount not exceeding twenty-five thousand dollars, and bearing
interest at not exceeding five per centum per annum. And said
bonds bearing five per centum interest are hereby declared to be
equally as binding as an obligation on said county when issued as
the bonds which are to be called in and paid. And the six per
centum bonds, when called in and paid with the money derived from
the issue of bonds authorized by this are directed to be destroyed by
being burned by the treasurer in the presence of the board of super-
visors of said county.

2. The said bonds shall be registered or coupon, shall bear date as
of January first, eighteen hundred and ninety-six, and be payable
twenty years after date. —

3. The said issue of bonds herein authorized may be in denomina-
tions of five hundred dollars and one thousand dollars, as the board
of supervisors shall determine, and be signed by the chairman of
the board of supervisors, and countersigned by the county clerk of
Stafford county, with the seal of the said board of supervisors of
Stafford county attached thereto.

4, The said bonds shall be sold at not less than par, and all
moneys arising from the sale thereof shall be used in the payment of
the expenses attendant upon the issue of the bonds hereinbefore au-
thorized, and the payment of the present outstanding six per centum
bonds of the county of Stafford, and for no other purposes whatso-
ever.
5. The interest on said bonds shall be payable semi-annually, and
it of the levy and fund now provided by the acts above recited for
1e payment of interest on the present outstanding six per centum
nds,

6. All acts or parts of acts inconsistent with this act are hereby
pealed.

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