Chap. 207,—An ACT to authorize the town of Onancock, in the county of Accc-
mac, Virginia, to borrow money.

Approved February 7, 1898.

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
extending the water works in 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 dollars,
or the multiples thereof, and bear interest at a rate not exceeding six
per centum 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 thirty years from date
or upon the call of said corporation at any time after the expiration of
ten years from the date of issue. Said bonds shall be signed by the
mayor of said town and countersigned by the clerk of the counc’
shall be sold and negotiated in such manner as mav he prescrih
the said mayor and council: provided, that said bond shall not |
for less than their par value.

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