Chap. 45.—An ACT cuthorizing the councils of the city of Norfolk to issue
75,000 in bonds for the new jail.

Approved February 8, 1901.

Whereas by the charter of the city of Norfolk the limit prescribed for
the issuing of bonds or creating indebtedness by said city is twenty per
centum of the assessed value of property, real and personal, as set forth
and contained in the rolls or books of assessment of the commissioner
of the revenue for taxation by the city; and

Whereas the new assessment of real estate for five years from January
first, nineteen hundred and one, will not be on the books of assessment of
the commissioner until the fall of ninetcen hundred and one. and said
assessment is greater than that for the preceding year; and

Whereas the councils of the city of Norfolk desire to issue seventy-five
thousand dollars of bonds prior to the fall of nineteen hundred and one
for the purpose of erecting a new jail building and acquiring any addi-
tional real estate neeessary therefor, but may he prohibited by the said pro-
vision of the charter, as said seventy-five thousand dollars with the
present indebtedness of the city predicated upon the assessed values in the
first, second, third and fourth wards, will probably exceed twenty per
ecntum of assessed value of the real and personal property in said wards ;
therefore,

1. Be it enacted by the general assembly of Vi irginia, That the councils
of the city of Norfolk are hereby empow ‘ered to issue at any time after
the passage of this act bonds in the name of said city not exceeding the
sum of seventy-five thousand dollars. The bonds shall be payable at
such time, not to exceed thirty years from their dates, and at such rate
of interest as may be determined on by the councils. The proceeds from
the sale of said bonds shall be used for the purpose of paying in part for
the erection of a new jail building in the city of Norfolk or for the
acquiring of any additional real estate necessary cs a site therefor, and
shall be paid out of the city treasury for said purposes on resolution of
the councils of the city of Norfolk. An account of the bonds issued
under this act shall he kept by the board of sinking fund commissioners,
and also by the city treasurer. Until the said new assessment made for
the five years beginning January first. nineteen hundred and one, shall
be contained in the books of assessment of the commissioner of the
revenue, the bonds issued under this act shall not be counted as part of
the indebtedness of the city in determining the limit to which said in-
debtedness may be increased, but after the said new assessment is con-
tained in said books of the commissioner of the revenue the bonds issued
under this act shall be counted as a part of the indebtedness of the city
for all purposes. ‘The said bonds shall not be subject to any taxation by
the city of Norfolk.
All acts or parts of acts in conflict herewith are hereby repealed.
3. This act shall be in force from its passage.