Chap. 754.—An ACT to authorize the town of Onancock, in the county of
Accomac, to borrow money. |

Approved March 4, 1896.

1. Be it enacted by the general assembly of Virginia, That the
mayor and council of the town of Onancock be, and they are hereby, |
authorized and empowered to borrow for said corporation and for the
purpose of building a lock-up or jail for said town, and for improving
the streets of said town, and for other purposes, a sum of money not
exceeding five thousand dollars, by the issue and sale of the bonds
of said corporation as hereinafter provided.

2. Said bonds shall be issued in denomination of one hundred dol-
lara and bear six per centum interest per annum, said interest to be
paid semi-annually on the first of January and first day of July by
the treasurer of said town. The principal of said bonds shall be
payable in twenty years from date, or upon the call of said corpora-
tion at any time. Said bonds shall be signed by the mayor of said
town and countersigned by the clerk of the council, and shall be sold |
and negotiated in such manner as may be prescribed by the said
mayor and council; provided that said bonds shall not be sold 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 appear by the report of the
judges of said election that a majority of the qualified voters of said —
town voting upon the question are in favor of said law. '

3. This act shall be in force from its passage. |

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