An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1899/1900 |
---|---|
Law Number | 113 |
Subjects |
Law Body
Chap. 113.—An ACT to authorize the council of the town of Woodstock to
issue bonds and borrow money for the purpose of establishing a system of
water-works for said town, and for other purposes.
Approved January 28, 1960.
1. Be it enacted by the general assembly of Virginia, That it shall
be lawful for the council of the town of Woodstock, in the county of
Shenandoah, state of Virginia, to issue the bonds of the said town, not
to exceed in the aggregate the sum of thirty-five thousand dollars, in
order to establish a system of water-works in said town, and meet all
expenses connected therewith, as may be determined by the council of
the town of Woodstock.
2. The bonds so issued shall be thirty-year coupon bonds of the
denomination of fifty, one hundred, and five hundred dollars each, num-
bered and registered or payable to bearer, signed by the mayor and
attested by the recorder of said town, and shall bear interest at a rate
not exceeding six per centum per annum, payable annually, and shall
be redeemable at any time after the expiration of twenty years, at the
option of the said town, the bonds to be redeemed to be designated by lot.
3. The bonds issued under this act shall not be sold for less than par,
and the council of the town of Woodstock shall provide for the pay-
ment of the annual interest by levy made annually for the thirty years
the bonds have to run, unless sooner paid off, a tax sufficient to pay
the annual interest on said bonds. The taxes so collected under this
act shall be used only for the purposes aforesaid.
4. The rate of taxation in said town, together with the levy authorized
by this act for the purpose of paying the interest upon said bonds, shall
not exceed the rate of one dollar and twenty-five cents upon the one
hundred dollars of assessed value of real and personal property of said
town, and out of each annual levy there shall be laid aside by the said
council a sufficient amount for the semi-annual interest on said bonds
hefere any portion thereof is appropriated to any other purposes: and
at the maturity of the said bonds upon the expiration of the said thirty
years the council of said town shall make lawful provisions for their
yavment,
5. That the council of said town shall have the right to issue bonds,
as aforesaid, with the consent of the people expressed by a majority
vote of the legally qualified voters of the said corporation, ascertained
by a special election to be held in such manner as the said council shall
preserihe after the passage of this act, such special election to be governed
and regulated by the general Jaws regulating special elections. The
result of said election shall be spread upon the minutes of the council
of the town of Woodstock, and shall constitute a basis for the issuance
of the said bonds of the said town.
6. This act shall be in force from its passage, and all acts and parts
of acts inconsistent herewith are hereby repealed.