Chap. 287.—An ACT to authorize the board of supervisors of Pulaski county to
borrow money for the construction of highway bridges in the Pulaski road dis-
trict, in Pulaski county.

Approved May 20, 1903.

1. Be it enacted by the general assembly of Virginia, That the board of
supervisors of Pulaski county be, and they are hereby, authorized to bor-
row money. not exceeding two thousand dollars, with which to construct
highway bridges in the Pulaski road district, in Pulas ski county.

2. The said loan shall be effected by issuing the bonds of the county
signed by the chairman of the board of supervisors, with the seal of the
board thereto affixed, and attested by the clerk of said board; said bonds

shall be payable and redeemable at such periods as may be prescribed by
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said board, said bonds to be for the sum of one hundred dollars each, or
multiples thereof, with coupons attached for semi-annual interest, and
in all other respects said bonds shall be as said board may prescribe, to be
set forth on the face of the bonds.

3. The said board of supervisors may fix the rate of interest which
the said bonds shall bear, but said rate shall not exceed the rate of six per
centum per annum.

4. Said board of supervisors shall have full power to negotiate the said
bonds through an agent, or in any way it may deem best: provided, that

said board shall not sell or otherwise dispose of any of said bonds at less

than their par value, and shall deposit the proceeds of the sale of said
bonds in any bank in Pulaski county, subject to its orders, and disburse
the same for the purpose aforesaid.

5. The payment of the interest upon said bonds, and the principal
thereof, when called or due, shall be provided for by said board by a spe-
cial tax, to be known as the “Pulaski district bridge tax,” to be levied
on all the land and personal property in the present limits of the Pulaski
road district as a part of the road levy.

6. The funds arising from said tax shall he kept separate from all
other funds, and applied for no other purpose than to the payment of the
said bonds and interest until the same shall be fully discharged, but any
balance then remaining shall be turned into the general road fund of the
Pulaski road district.

%. Said bonds and coupons shall be exempt from all county taxes in
the county of Pulaski, Virginia.

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