Chap. 387.—An ACT authorizing the city of areca eae to issue bonds to re
deem what are known as her gas and bridge bonds.

Approved February 18, 1898.

Whereas the city of Fredericksburg did, under and by virtue of an ac
titled an act to allow the city of Fredericksburg to supply gas for th
se of said city, and to issue bonds of the city to effect said purpose
pproved March fourth, eighteen hundred and ninety, issue bonds t
the amount of twenty-five thousand dollars, known as gas bonds; and

Whereas said city did, under and by virtue of an act entitled an act
to authorize the city of Fredericksburg to build and operate a bridge
across the Rappahannock river at Fredericksburg, approved January
tenth, eighteen hundred and ninety, issue bonds to the amount of
tw enty- five thousand dollars, known as bridge bonds; and

Whereas the aforesaid acts authorized said city to redeem said bonds
in ten vears, and the time is approaching for the exercise of said power
of redemption: therefore,

1. Be it enacted by the gencral assembly of Virginia, That the mayor
and common council of the city of Fredericksburg shall be, and they
are hereby, clothed with the power to issue bonds of said city to an
amount not to exceed fifty thousand dollars, bearing interest not exceed-
ing six per centum per annum, and payable at such periods as the said
council may elect, said bonds to be registered or coupon bonds, con-
vertible as said council may elect. The said council shall use the honds
so issued for the purpose of redeeming the aforesaid gas and bridze
bonds of said city, and for no other purpose, and may negotiate said
bonds at a price not lower than their par value.

The mayor and common council of said city may secure the pay-
ment of the principal and interest of said bonds issued to redeem the
gas bonds by a mortgage or deed of trust upon all the works, rights and
properties aequired under the aforesaid act, approved March fourth,
eighteen hundred and ninety; and they may secure the payment of the
principal and interest of said bonds issued to redeem the bridge bonds
by a mortgage or deed of trust upon all said bridge property and rights.

3. All the provisions in the aforesaid acts, approved March fourth,
eighteen hundred and ninety, and January tenth, eighteen hundred and
ninety, respectively, in relation to taxation and the creation of a sinking
fund for the payment of the bonds therein authorized, shall apply to
the bonds issued under this act for their redemption.

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