Chap. 554.—An ACT to authorize the trustees of Cedar Grove school property te
sell said property and dispose of and invest the proceeds according to the pro-
visions of this act.

Approved February 28, 1898,

Whereas on the fourteenth day of October, eighteen hundred and
thirty-four, John Peters and Margaret, his wife, conveyed by deed tc
Andrew Campbell, Starke Jett, Christopher Haynes, Thompson G. Mar-
tin, John S. Martin and William H. Morison, trustees, and their suc-
cessors, a certain piece of land containing four acres (more or less) for
school purposes for the citizens of the town of Estillville (now Gate
City) and vicinity, known as the Cedar Grove schoolhouse property,
situated about one-half mile east of Gate City, and bounded as set forth
in said deed; and .

Whereas J. B. Richmond, 8. P. McConnell, W. P. Horton, W. C. R.
Strong, W. H. Smythe and H. 8S. K. Morison are the present successors
of the said Andrew Campbell, Starke Jett, Christopher Haynes, Thomp.-
son G. Martin, John S. Martin and William H. Morison, trustees as
aforesaid; and

Whereas the said Cedar Grove schoolhouse property has become use-
less for the purposes for which it was purchased and conveyed, because
of the erection of Shoemaker college, which is situated within one-
quarter of a mile of said Cedar Grove schoolhouse; and
Whereas the free school fund of Gate City school district is expended
in educating the children in the said college, and in order to utilize the
— Grove schoolhouse property a sale thereof is deemed necessary;
an

Whereas the board of trustees of the said property by resolutions
passed and entered in its minutes on the eleventh day of September,
eighteen hundred and ninety-seven, ordered the said property to be sold
if an adequate price therefor could be obtained; and

Whereas an act of the general assembly of Virginia is necessary to
authorize such sale: now, therefore,

1. Be it enacted by the general assembly of Virginia, That the trustees
of Cedar Grove schoolhouse property, situated near the town of Gate
City, Virginia, containing four acres (more or less), and bounded as set
forth in the deed executed by John Peters and wife on the fourteenth
day of October, eighteen hundred and thirty-four, to Andrew Campbell
and others, trustees, be, and they are hereby, authorized to sell the said
property at such price as they may deem fair and reasonable, and after
paying some small liens thereon, invest the net sum realized by such sale
in such securities as may be deemed advisable, or loan such sum on
ample real estate security at the rate of six per centum per annum,
payable semi-annually, and the interest thus accruing be annually ex-
pended in educating the children of Gate City sub-school district, in the
said college or other place, as the said trustees, in their opinion, may
consider to the best interest of the citizens of said sub-school district.

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