Chap. 243.—An ACT to authorize the town of Chatham, in Pittsylvania
county, to issue bonds and borrow money for the purpose of erecting and
equipping a public school building in said town.

Approved March 15, 1906.

1. Be it enacted by the general assembly of Virginia, That the council
of the town of Chatham, in Pittsylvania county, is hereby empowered and
authorized to borrow a sum of money not to exceed ten thousand dollars,
for the purpose of erecting and equipping a public school building in said
town, and to issue bonds therefor, payable out of the town funds, at a
date not to exceed thirty years from their issue, to be signed by the mayor
and countersigned by the clerk of the council. Said bonds shall bear
interest at the rate of five per centum, payable semi-annually, at such
place as said council may designate, and redeemable after the expiration
of ten years, at the pleasure of said council: provided, that said bonds
shall not be sold for less than their par value, nor issued until after ap-
proval of the proposed expenditure by a majority of the duly qualified
voters of said town, voting at special election called for that purpose br
said council and conducted according to the laws applicable to special
elections. Said council shall make provision for the payment of the
interest on said bonds, and the principal thereof at maturity: provided,
that the amount borrowed under this act shall not exceed the Constitu-
tional limit.

2. By reason of the destruction of the public school building in said
town by fire, an emergency exists, and this act shall be in force from its

passage.