Chap. 718.—An ACT to amend and re-enact section 22 of an act entitled an
act to amend and re-enact an act to incorporate the town of South Boston,
in the county of Halifax, approved the 30th day of January, 1888.

Approved March 8, 1900.

1. Be it enacted by the general assembly of Virginia, That section
twenty-two of an act approved January thirtieth, eighteen hundred and
eighty-eight, entitled an act to amend and re-enact an act entitled an
act to incorporate the town of South Boston in the county of Halifax,
be amended and re-enacted so as to read as follows: |

§ 22. The council may, in the name of and for the use of said town.
contract loans and issue bonds therefor, bearing interest at the rate of
six per centum or less per annum, payable semi-annually, and redeemable
in thirty-four years or less, which bonds shall not be sold at less than
their par value, and said bonds shall be exempt from taxation by said
town: provided, that the council shall not contract any loan or issue
bonds therefor, unless the same be authorized by a vote of the resident
freeholders of the said town, and a majority of the vote be in favor
thereof: and provided further. that in no case shall the aggregate debt
of the said town, at any one time, exceed seven and a half per centum
of the assessed value of the property, real and personal, within the
corporate limits of the said town. And in any election held under this
section, the order therefor shall state the object for which the money is
to be used.

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