Chap. 92.—An ACT to authorize the town of Suffolk, Virginia, to issue bonds te
redeem bonds maturing during 1902 and 1903.

Approved March 1, 1902.

1. Be it enacted by the general assembly of Virginia, That. it shall be
lawful for the council of the town of Suffolk, in order to redeem th
bonds of said town maturing during the years nineteen hundred and tw
and nineteen hundred and three, to issue coupon or registered bonds 1
sums of not less than one hundred dollars, at a rate of interest to be de
termined by said council, not to exceed, however, six per centum pe
annum, payable semi-annually, said bonds to be made payable thirt
years after their date: provided, that the whole amount of bonds issuet
under this act shall not exceed the sum of seventeen thousand dollars
and the proceeds thereof shall not be applied or used for any other pur
pose than that herein specified.

2. The said bonds shall be signed by the president of the council
attested by the clerk of the council of said town, with the corporate sea
attached, and shall be sold and negotiated in such manner and upon suc
terms as the said council shall prescribe: provided, that said bonds shal
not be sold for less than their par value. .

3. The council of said town shall have the power to make annual af
propriations out of the revenue of the corporation to pay such interes
and to provide a sinking fund for the redemption of said bonds.

4, All acts or parts of acts inconsistent with this act are hereby re

ealed.
" 5. This act shall be in force from its passage.