An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1906 |
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Law Number | 241 |
Subjects |
Law Body
Chap. 241.—An ACT to authorize the school board of Clifton school district.
in the county of Alleghany, to borrow a sum of money not exceeding six
thousand dollars, for the purpose of enlarging and improving the public
school building in the town of Clifton Forge, in said school district in said
county, and for purchasing or condemning real estate adequate to such im-
provement.
Approved March 15, 1906.
1. Be it enacted by the general assembly of Virginia, That the school
board of the Clifton school district, in the county of Alleghany, be, and
the same is hereby authorized to borrow a sum of money not exceeding
six thousand dollars, for the purpose of enlarging and improving the
public school building in the town of Clifton Forge, in said school dis-
trict, in said county of Alleghany, and for the purchasing or condemning
real estate adequate to such improvements, and to issue bonds therefor.
payable out of the school funds of said district.
2. The said school board shall issue its bonds in such denominations
as the said board shall prescribe, for the money borrowed, bearing a rate
of interest not exceeding six per centum per annum, which bonds shall
run twenty years, with the right reserved in said school board to pay
them, or any of them, at any time after five years. Such bonds shall be
signed by the chairman and attested by the clerk of the said school board.
and countersigned by the chairman of the board of supervisors of Alle-
ghany county, and sealed with the county seal and attested by the county
clerk.
3. Said school board shall provide for the interest accruing annually
on said bonds, and shall set aside annually a sum equal to at least one-
twentieth of the principal of said bonds, as a sinking fund for the ulti-
mate redemption of said bonds, out of the district school funds which
may from time to time be under its control.
4. Said bonds shall be either registered or coupon bonds, and may be
issued and sold by said board as herein above provided, but shall not be
sold for less than their par value.
5. The said school board shall annually report to the board of super-
visors of said county, the amount of the debt outstanding and the amount
and condition of the sinking fund.
6. Should the said school board elect to issue coupon bonds, then, at
any time after the expiration of five years, should the said school board
desire to redeem any or all of said bonds, as hereinbefore provided, notice
of the intention to redeem shall be either by personal notice to the owner,
if he and his place of residence be known, or, in the event the owner or
his residence be unknown, the said notice of intention to redeem shall be
by publication directed to the original owner of said bonds elected to be
redeemed, for four successive weeks in some newspaper published in
Alleghany county, Virginia, notice, in either event, to state the time and
place at which said school board intends to redcem; and the interest on
said bonds so elected to be redeemed, shall cease from and after the day
so appointed in such notice for their redemption.
7. As it is necessary for the provisions of this act to become effective
promptly, in order that work may be commenced on said improvements,
an emergency exists, and therefore this act shall be enforced from its
passage.