Chap. 110.—An ACT to authorize the Virginia Female Institute to borrow money
and to secure its repayment by deed of trust.

Approved March 4, 1902.

1. Be it enacted by the general assembly of Virginia, That for the
purpose of carrying out needed improvements and additions to the build-
ings, property, and appliances of the Virginia Female Institute, in the
city of Staunton, and further promoting the usefulness and efficiency of
that establishment it shall be lawful for the board of trustees of said Vir-
ginia Female Institute to borrow, from time to time, such sum or sums of
money, not exceeding in all ten thousand dollars (in addition to the fif-
teen thousand heretofore authorized for retiring the old debt and adding
to the buildings), as may by them be determined upon. They may cause
bonds of said institute to be executed and issued for the sums so borrowed
of such denominations as they may find convenient, and bearing interest
at a rate not exceeding six per centum per annum, semi-annually pay-
able, with or without coupons, and the principal payable not exceeding
thirty years after date. And to secure payment of the said interest and
principal they may cause a deed or deeds conveying all or any of the

lands, buildings, and property of said institute in said citv of Staun-
ton in trust therefor to be executed, acknowledged, and delivered on
behalf of said institute.

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