Chap. 115.—An ACT to authorize the board of supervisors of Lancaster county to
effect a loan for county road purposes, and to disburse the same.

Approved March 28, 1903.

1. Be it enacted by the general assembly of Virginia, That the board
of supervisors of Lancaster county be, and they are, by and with the con-
sent of the county court of said county, hereby authorized to issue regis-
tered 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, to bear interest at five per centum per annum, and to run not ex-
ceeding thirty years, and to be redeemable at the pleasure of the board
after ten years.

2. The said board of supervisors shall set apart each year a sum suf-
ficient to meet the interest on said bonds, and to create a sinking fund for
the redemption of the principal of said bonds. The board of supervisors
shall levy and collect such an amount of taxes as may be necessary to
comply with the provisions of this act.

3. The said bonds issued in pursuance of this act shall be of such de-
nominations as said board of supervisors may direct, and 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.

4. The debts contracted and evidenced by said bonds shall be levied
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.

_5. That for services rendered in carrving out this act, and for the neces-
sary time occupied in connection with the road system of the county, the
said board of supervisors shall receive two dollars each per day.

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