Chap. 437.—An ACT to amend and re-enact section 1 of chapter 8 of the revised
charter of the city of Lynchburg (acts 1895-6).

Approved March 29, 1902.

1. Be it enacted by the general assembly of Virginia, That section one
of chapter eight of the revised charter of the city of Lynchburg (acts
eighteen hundred and ninety-five and eighteen hundred and ninety-six,
page two hundred and twelve) be amended and re-enacted so as to read
as follows:

§ 1. The council may, in the name and for the use of the city, contract
debts and cause to be issued therefor notes or bonds; but no debt of the
city shall be payable more than thirty-four years from the date thereof:
provided, that the council shall not have power to contract debts for the
city or issue evidences thereof, whether notes or bonds, for sums which,
when added to the debt of the city then existing, shall cause the total
amount of the indebtedness of the city to be greater than sixteen per
centum of the value of the real and personal estate, which shall include
all capital on which a license tax is paid, in the city as assessed for taxa-
tion: and provided, further, that the council shall not contract debts or
issue any evidences thereof for the purpose of subscribing to the capital
stock of any internal improvement company, nor shall it cause the bonds
of any such company to be endorsed by the city.

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