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
en thousand dollars in the aggregate, to be negotiated at not less than
ar, to bear interest at five per centum per annum, and to run not ex-
eeding thirty years, and to be redeemable at the pleasure of the board
fter ten years.

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

3. The said bonds issued in pursuance of this act shall be of such de-
ominations as said board of supervisors may direct, and the proceeds of
aid bonds shall be placed in the hands of the treasurer of said county,
rd the same shall be paid out in the mode and manner that may be
rescribed by said board of supervisors for county road purposes. .

4. The debts contracted and evidenced by said bonds shall be levied
or by the board of supervisors upon such subjects of taxation as now are
r may be liable for the county levy, and that the faith of said county is
ledged for the punctual payment of said bonds, principal and interest,
s the same shall fall due. ,

5. That for services rendered in carrying out this act, and for the neces-
ary time occupied in connection with the road system of the county, the
aid board of supervisors shall receive two dollars each per day.

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