Chap. 64.—An ACT to authorize the mayor and council of the city of
HNamsburg, in the county of James City, Virginia, to issue bonds and
row money for the purpose of establishing a system of water works and
department, a jail, general lighting system, and street improvements
said city.

Approved March 1, 1906.

1. Be it enacted by the general assembly of Virginia, ‘That the m:
nd the council of the city of Williamsburg be, and they are hereby,
horized and empowered to issue bonds of the said city and to bor
noney, not to exceed in the aggregate the sum of thirty thousand doll
s hereinafter provided, or as much thereof, as added to its present ind
dness, shall not exceed the constitutional limitation of eighteen per cen
ipon municipal indebtedness; the proceeds from the sale of said bo
r so much thereof as may be necessary, to be expended in the estab!
nent of a system of water works for fire extinguishing purposes and
lomestic.use, and for the equipment of a fire department. for said «
recting a jail, general lighting system, and street improvements, or ;
f the above purposes as may be prescribed by the said council, an:
neet all expenses connected therewith as may be determined upon by
aid council.

2. The said bonds shall be registered or coupon bonds, and shall
‘sued in denominations of five hundred dollars, and shall bear inte
ta rate not to exceed six per centum per annum. The interest on
onds shall be paid semi-annually, and shall be payable at the office
he treasurer of the county of James City and the city of Williamsb
rat such bank or banking house in said city as may be sclected and de
ated by the said council. The principal of said bonds shall be payabl
hitty vears from date of issue. The said bonds shall be signed by

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mayor and countersigned by the clerk of the council, and shall be sold and
negotiated in such manner as may be prescribed by the said mayor and
council: provided, that the said bonds shall not be sold or negotiated for
less than their par value.

3. The council of the said city shall have full and unlimited control of
the expenditure of the funds derived from the sale of said bonds: pro-
vided, that said bonds shall not be issued or negotiated until the question
has been submitted to a vote of the people of said city by an election or-
dered by the circuit court for the city of Williamsburg and the county of
James City, or the judge thereof in vacation, who shall appoint three
judges (freeholders) to hold said election, the same to constitute the
board of commissioners, from whose report it shall appear that a ma-
jority of the qualified voters of the said city voting upon the question
are in favor of issuing said bonds, and that said majority imclude a ma-
jority of the freeholders of said city voting at said election. The vote
shall be taken by ballot, on which shall be printed the words “for bond
issue” and “against vond issue.” There shall be provided separate boxes,
the one for freeholders’ ballots and the other for non-freeholders’ bal-
lots, as the case may be. Notice of the time, place, and object of said
election shall be given by publication for at least once a week for four
consecutive weeks in the “Virginia Gazette,’ a newspaper published in
the city of Williamsburg, said notice to be ordered by the cireuit court
for the city of Williamsburg and the county of James Citv, or the judge
thereof in vacation. The expenses of said election shall be paid out of the
treasury of said city.

4. The result of said election, as reported by the commissioners re-
ferred to in section three of this act, shall be admitted to record in the
circuit court for the city of Williamsburg and county of James City, and
it shall be the duty of the judge of the said court to cause to be made
and transmitted te the mavor and council of said city a certified copy of
the report. of the board of commissioners, which report shall be recorded
upon the minutes of the said council, and shall constitute a basis for the
issuance of the said bonds of the said citv. It shall be the duty of the
judge of the said court to order an election as provided for herein, upon
a resolution adopted by a two-thirds vote of the members elected to the
council of said city, and properly certified by the clerk of the said council.

5. The council of the said city shall. at each annual levv, lay.aside for
the thirty vears that the bonds have to run a sufficient amount to cover
the interest on the said bonds, and such further sum as may be deter-
mined upon each vear to be placed to the credit of the sinking fund. to
he created for the redemption of the said bonds, said sinking fund to be
invested in said bonds, or in some safe interest bearing securities, before
anv portion of the revenue of the said citv is appropriated to any other
purposes: and at the maturity of said bonds, upon the expiration of the
said thirty vears, the council of the said citv shall make lawful provision
for their payment.

6. No corporation tax shall be levied or assessed upon said bonds by
the city of Williamsburg.

7. All acts and parts of acts inconsistent with this act are hereby re-
pealed.
s. In view of the fact that it is desirable that the bonds herein pro-
vided for shall be issued with as much dispatch as possible, an emer-
gency having arisen, this act is declared to be an emergency act, and shall
le in force from its passage. :