Chap. 236.—An ACT to empower the council of the town of Berryville to submit,
at a special election, to the qualified voters of said town whether or not said
town shall buy the plant and franchise of the Battletown Gas Company, and
to borrow money to pay for same or to issue bonds therefor, provided the same
can be secured for $5,500.

Approved March 15, 1904.

1. Be it enacted by the general assembly of Virginia, That as in the
opinion of the council of the town of Berryville, it would be to the
interest of said town for it to own the plant and franchise of the Battle-
town Gas Company, located in said town, and as eaid council has reason
to believe that the same can be bought at a reasonable price, for said
town, provided said council has the power to buy it in the immediate
future; therefore, the council of the town of Berryville is hereby au-
thorized and empowered to hold a special election in accordance with
law, and submit to the qualified voters of said town, whether or not the
town of Berryville shall buy the plamt and franchise of the Battletown
Gas Company, provided the same can be bought for a sum not in excess
of fifty-five hundred dollars.

In the event that a majority of the qualified voters of said town, voting
at said election, vote in favor of said purchase, the council of said town
is hereby authorized and empowered to buy said plant and franchise,
and to borrow money upon the faith and credit of said town, in a sum
not in excess of fifty-five hundred dollars, to be used for the purchase
of said plant and franchise, and if said town council should deem it neces-
sary to issue bonds upon the faith and credit of said town for the
amount so borrowed, or to issue bonds in settlement for said plant and
franchise, in either case not to exceed the sum of fifty-five hundred
dollars, said council is hereby fully authorized and empowered so to do;
said bonds, if issued, to bear interest at a rate not exceeding six per centum
per annum, payable annually or semi-annually, and to be payable at such
times and in such manner as said council may see fit, and upon such
conditions as may be agreed on between said council and the parties
with whom it may negotiate said bonds, or from whom it may purchase
said plant and franchise. The net revenues from said plant are to be
applied, first, to the payment of the annual interest on such debt as is
incurred under this act, and the remainder to such sinking fund as
said council may deem best. to establish; should the net revenues from
said plant not be sufficient to pay the annual interest on said debt, then
the council shall include in the annual levy a sufficient sum to pay the
interest on the debt allowed by this act, and to provide such sinking
fund to pay off same when due as the council may deem best to establish.

2. This is an emergency act, and shall be in force from its passage.