Chap. 151.—An ACT to authorize the common council of the city of Win-
chester to borrow money and to issue bonds.

Approved January 24, 1900.

1. Be it enacted by the general assembly of Virginia, That the com-
mon council of the city of Winchester be, and is hereby, authorized ta
borrow a sum or sums of money not to exceed in the aggregate the
sum of twenty-four thousand dollars, and at a rate of interest not to
exceed five per centum per annum.

%. That the money so borrowed shall be used exclusively in the re-
demption and payment (first) of that certain series of public school
bonds issued under authority of an act of the general assembly of Vir-
ginia approved March twenty-ninth, eighteen hundred and seventy-five,
entitled “an act to authorize the common council of the citv of Win-
chester to borrow money,” and in accordance with an ordinance of the
common council of said city entitled “an ordinance issuing bonds,”
passed May second, eighteen hundred and eightv-two, and the subse-
quent ordinance of said council, passed Mav fifteenth, eighteen hundred
and eichty-three; and (second) of that certain series of railroad sub-
scription bonds issued under authority of an act of the general assembly
approved July ninth, eighteen hundred and seventy, entitled “an act
to incorporate the Martinsburgh and Potomac railroad company,” as
amended by an act of said general assembly approved February twenty-
fourth, eighteen hundred and eighty-eight, and of an act of said general
assembly approved December nineteenth, eighteen hundred and eizhtv-
nine, entitled “an act to authorize the merger of the Martinsburch
and Potomac railroad company into the Cumberland valley and Mar-
tingsburgh railroad company, and to amend and re-enact an act entitled
“an act to incorporate the Martinsburgh and Potomac railroad com-
pany, approved July ninth, eighteen hundred and seventy, as amended
in the third and sixth sections thereof by an act approved February
twenty-fourth, eighteen hundred and eighty-eight,” and of an ordinance
of the common council of the city of Winchester concerning the sub-
scription of the said city to the capital stock of said railroad company,
passed April fifth, eighteen hundred and eighty-seven, and of certain
ordinances of said council providing for the execution and issuing of the
bonds of said city of Winchester, passed February fourth, eighteen hun-
dred and ninety.

3. That for the money so borrowed the said common council be,
and is hereby, authorized to issue bonds, either registered or coupon,
in the name of the city of Winchester, to be signed by such officer or
ollicers of the city as the ordinance of the council authorizing the
loan may prescribe.

4. The principal of said bonds issued under authority of this act shall
fall due within thirty years from their respective dates, and the interest
shall be payable semi-annually. |

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