Chap. 540.—An ACT to authorize the board of supervisors of Giles county
to issue bonds of the county instead of county warrants, in settlement of
a contract with Virginia bridge and iron company, for the construction of
a bridge at Ripplemead, Giles county, Virginia.

Approved February 26, 1900.

Whereas the county court of Giles county has directed commissioners
for the said county to enter into contracts with the Virginia bridge and
iron company, for the erection of a steel bridge at Ripplemead, in the
said county, at the contract price of eighteen thousand six hundred
dollars, for which amount the warrants of the county drawn upon the
treasurer, are to be issued upon the terms as set forth in the said con-
tracts; and

Whereas it is thought expedient to issue the bonds of the county, in
such an amount as will satisfy and pay off the said obligation; now,
therefore,

1. Be it enacted by the general assembly of Virginia, That the board
of supervisors of Giles county be, and they are hereby, authorized, if
they shall elect so to do, to issue the bonds of the county of Giles, in
accordance with the terms and conditions in the original contract
provided, entered into between the said commissioners and said Vir.
ginia bridge and iron company, and turn them over to the said Virginia
bridge and iron company, in payment of their obligation to them, upor
such terms as may be agreed on between the said board of supervisor:
and the said Virginia bridge and iron company; or, the said board of su-
pervisors may issue bonds in such denominations as the board shall deem
proper for the said amounts, redeemable in ten years from date, or sooner
at the pleasure of the said board of supervisors, and provide a sinking
fund for the payment thereof, and dispose of said bonds upon thi
markets at not less than par value, and at not greater rate of interest
than five per centum, and pay to the said Virginia bridge and iro
company the amount then owing on the contract price of the saic
bridge, out of the proceeds of the sale of the said bonds. But neithe:
of the provisions of this act shall be construed to be compulsory o
mandatory upon the said board of supervisors; but they shall ac
entirely in their discretion in reference to the issuance of said bonds
either to be turned over to the Virginia bridge and iron company, or t
be sold upon the markets as provided in this act; and the said board o
supervisors may make such contracts or agreements with said Virgini.
bridge and iron company, subject to the approval of the county court of
Giles county, as they may deem to the best interests of the county.
%. This act shall be in force from its passage.