Chap. 54.—An ACT to empower the school board of Battletown district, Clarke
county, to borrow money to retire outstanding bonds.

Approved February 8, 1901.

1. Be it enacted by the general assembly of Virginia, That the Bat-
tletown district school board of Clarke county be, and is, hereby author-
ized and empowered to borrow upon the faith and credit of said Battle-
town district, a sum not exceeding eight thousand dollars, and to issue
bonds for the same, bearing interest at a rate not exceeding five per
centum, payable annually or semi-annually, for the purpose of retiring
outstanding six per cent. bonds, now payable; said new bonds to be issued
in such amounts and payable at such time or times, upon such conditions
as said board may see fit to impose. The board of supervisors of said
county of Clarke, at the request of said district school board, shall em-
brace in its annual district (Battletown) levy a sum sufficient to pay the
annual interest on said bonds and to provide a sinking fund, which shall
be held and applied by said district board to the payment of the principal
of said bonds: provided, however, that said levy by the supervisors shall
not exceed ten cents on every hundred dollars of taxable property within
said Battletown district.

2. The bonds authorized hereby shall be exempt from any taxation in
any manner by the state of Virginia. or by any county, city, town or
other corporation exercising powers of taxation under the authority of
this Commonwealth.

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