Chap. 149.—An ACT authorizing the town of Emporia to issue bonds and
borrow money to aid in establishing a system of water works for said town.
supplying and maintaining electric lights for said town, for improvement
of the streets of said town, and for establishing a system of sewerage for
said town.

Approved March 10, 1906.

Whereas by an act entitled an act authorizing the town of Emporia to
issue bonds and borrow money for the purpose of establishing a system of
water works for said town, supplying and maintaining electric lights for
said town, for improvement of the streets of said town, and for establish-
ing a system of sewerage for said town, approved March fifth, nineteen
hundred, the council of the town of Emporia was authorized to issue
coupon honds not exceeding in the aggregate the amount of thirty-five
thousand dollars, and bearing a rate of interest not exceeding six per
centum per annum, and payable not less than thirty nor more than thirty-
five vears from date: provided, however, that the money arising from the
sale of the said bonds should be issued and applied by the said council
for establishing a system of water works, and for supplying and maintain-
ing electric lights, and for improvement of the streets and for establishing
a system of sewerage for the said town: and provided, further. that the
said bonds should not be issued until sanctioned by two-thirds of the
qualified voters of the said town voting upon the said question at an elee-
tion to be held, which two-thirds should include a majority of the free-
holders and a majority of the registered voters; and

Whereas in strict compliance with the said ‘act, an election was duly
held on July twelve, nineteen hundred and four, and a bond issue not to
exceed thirty-five thousand dollars was duly authorized by the qualified
voters and freeholders as required by the said act; and
Whereas the town council of Emporia acting under the said act and
election issued thirty thousand dollars in five per centum’ bonds and sold
the same at par, but by reason of the growth of the town, the said sum of
thirty thousand dollars was insufficient to carry out the purposes of the
said issue and the additional thirty-five thousand dollars as authorized by
the said act of the general assembly, and said election is needed to com-
plete the water and sewerage systems now being constructed and operated
by the said town ; therefore,

1. Be it enacted by the general assembly of Virginia, That the town
council of the town of Emporia be, and is hereby, authorized to issue
coupon bonds (the form of which is to be prescribed by the said coun-
cil) to the amount of thirty-five thousand dollars, or so much thereof, as
taken with its present indebtedness, shall not exceed the constitutional
limitation of eighteen per centum on the assessed value of its real estate,
hearing a rate of interest not exceeding six per centum per annum, and
pavable in the discretion of the council not less than thirty nor more
than thirty-five vears from their date, which bonds shall not be sold at
less than their par value, and the money arising from the sale of the said
bonds shall be applied by the said council in establishing a system of water
works and for supplying and maintaining electric lights, and for im-
provement of the streets, and for establishing a svstem of sewerage for
said town.

2. It appearing that an emergency exists, this act shall be in foree
from its passage.

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