Chap. 60.—An ACT to authorize the.council of the town of Salem, in Roanoke
° county, to retire and refund certain bonds of said town.

Approved February 4, 1903.

Whereas, the council of the town of Salem, in the county of Roanoke,
under authority given by its charter, approved February eighteenth, anno
domini, eighteen hundred and ninety, did legally issue certain bonds of
said town, known as improvement bonds, for the municipal purposes
thereof, which bonds bear date of the nineteenth day of September, anno
domini, eighteen hundred and ninety-two, bearing interest at the rate of
six per centum per annum from their date, payable on December first,
nineteen hundred and eleven, with the privilege reserved to said town to
pay the same in ten years from date of same, which bonds to the amount
of nineteen thousand dollars constitute a valid bonded, indebtedness of
said town, and are now outstanding and unpaid; and,

Whereas, the said town is desirous of retiring said outstanding bonds
by the issuance of refunding bonds of said town, in place thereof; now,
therefore,

1. Be it enacted by the general assembly of Virginia, That the council
of the town of Salem, in Roanoke county, be, and is hereby, authorized
and empowered to issue the bonds of said town, either coupon or regis-
tered, to the amount of nineteen thousand dollars, to be known
as refunding bonds, of the denomination of one thousand dollars
or five hundred dollars each, as to the town council may seem proper, and
bearing interest at a rate not exceeding six per centum per annum,
payable semi-annually, the principal payable in gold coin of the United
States of America, of the present standard of weight and fineness, at the
expiration of twenty years from their date; principal and interest payable
at some national bank or trust company of and in the city of New York,
in the State of New York, for the purpose of refunding and retiring said
improvement bonds of said town to the amount of nineteen thousand dol-
lars; and when issued said refunding bonds to be exempt from taxation,
either special or general, for town purposes.

2. That the council of said town is hereby authorized to, and it shall
annually, make provision for the levy of an annual tax upon all the tax-
able property in said town sufficient to pay the interest upon said bonds.
as it becomes due, and to provide a sinking fund to pay the principal
thereof when it becomes due.

3. This act shall take effect and he in force from and after its passage.
Chap. 61—An ACT to authorize and empower the board of supervisors of King

William county to appropriate and contribute money to the Confederate Monu-
ment Association of sing William county, for the purpose of aiding the erec-
tion of a monument to the Confederate soldiers of said county.

Approved February 4, 1903.

1. Be it enacted by the general assembly of Virginia, That the board
f supervisors of King William county be, and it is hereby, authorized
nd empowered, if, in its opinion, it be just and proper so to do, to
ppropriate and contribute out of the county funds a sum of money, not
‘ceeding five hundred dollars, to the Confederate Monument Association
f King William county, for the purpose of aiding said association im
he erection of a monument upon the public square of said county, at the
sunty seat thereof, to the Confederate soldiers of said county. Such
ppropriation may be made as a whole, or may be made and paid out by
‘stalments, as the said board may determine.

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