Chap. 34.—An ACT to authorize the school board of Christiansburg district,
No. 4, of the county of Montgomery, to borrow money for the purpose
of erecting and furnishing a schoolhouse in or near the town of Chris-
tiansburg, and to provide for the payment of the amount which may be
borrowed.

Approved February 19, 1906.

1. Be it enacted by the general assembly of Virginia. That the school
board of Christiansburg district, number four, of the county of Mont-
gomery, may borrow not exceeding eight thousand dollars ($8,000.00).
for the purpose of erecting and furnishing a schoolhouse in or ne
town of Christiansburg.

2. That said board shall issue its bond or bonds for the mone
rowed, payable at such time or times as may be agreed upon, not ¢
ing fifteen years after their issue, bearing interest not exceeding th
rate, and payable annually or semi-annually, as may be agreed upo

Such bond or bonds shall be signed by the chairman and attes
the clerk of said board, and countersigned by the chairman of the
of supervisors of said county, sealed with the county seal, attested
county clerk.

3. From the schoo] levy for said district there shall be paid, as
tures, the interest on the bonds hereby authorized, and there shall
aside annually as a sinking fund such a sum as will provide for th
ment of the principal when it matures. Such sinking fund shall
vested in the bonds hereby authorized, or in such other securities
said board may, with the approval of the division superintende
schools for said county, select.

4. The said board shall annually report to the board of supervis
said county the amount of the debt outstanding and the amount an
dition of the sinking fund.

5. An emergency existing, in this that the arrangements for the er
of the schoolhouse should be promptly made, in order to have it rea:
the next session, this act shall be in force from its passage.