Chap. 608.—An ACT to authorize the board of supervisors of Buckingham county
to effect a loan for county road purposes.

Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That the board
of supervisors of Buckingham county be, and they are, by and with the
consent of the county court of said county, hereby authorized, at any
meeting at which all of said board shall be present, to issue registered
or coupon bonds in the name of said county for a sum not exceeding ten
thousand dollars in the aggregate, to be negotiated at not less than par,
the proceeds thereof to be used under the special road law for said county,
or any amendment which may be made thereto, for the better working
and improving the public county roads. The said bonds issued in pur-
suance of this act shall be in such denominations and payable at such
time or times as said board of supervisors may direct. All of said bonds
shall bear interest semi-annually at a rate not exceeding four per centum
per annum, and they and the coupons thereto attached, if any, shall be
signed by the president of the said board of supervisors, be attested by
the clerk of the county court of Buckingham county, and have the seal
of said court affixed thereto. The bonds issued in pursuance of this act
shall be negotiable at not less than par value, and shall be negotiated only,
from time to time, as the money may be needed according to estimates for
road purposes. The proceeds of said bonds shall be placed in the hands
of the treasurer of said county, and the same shall be paid out in the mode
and manner that may be prescribed by said board of supervisors for
county road purposes.

2. That the debts contracted and evidenced by said bonds shall be levicd
for by the board of supervisors upon such subjects of taxation as now are
or may be liable for the county levy, and that the faith of said county is
pledged for the punctual payment of said bonds, principal and interest,
as the same shall fall due.

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