Chap. 81.——An ACT to authorize the city of Portsmouth to issue bonds to
establish water works to furnish a supply of water and to create a board of
commissioners to manage and conduct the same.

Approved March 7, 1906.

1. Be it enacted by the general assembly of Virginia, ‘That the council
of the city of Portsmouth be, and it is hereby, authorized, in accordance
with section one hundred and twenty-seven b (12%b) of the Constitu-
tion of Virginia, in order to establish a system of water works to furnish
a supply of water for the said city, to issue registered or coupon bonds,
to be known as “water bonds,” in such denominations and at such a rate
of interest as may be determined by said council: provided, however,
that the whole amount of bonds issued under this bill shall not exceed
five hundred thousand dollars, and the rate of interest on the same
shall not exceed four per centum per annum, payable semi-annually.
The said bonds shall be made payable in thirty years after their date,
and be issued in the name of the city of Portsmouth, and signed by the
president of each branch of the council and by the city treasurer at the
time the said bonds are issued, with the seal of the city thereto affixed,
attested by the city clerk. The said bonds shall be subject to no taxation
whatever by the city of Portsmouth, and may be disposed of in such
manner as the said council may deem expedient: provided, however,
that the same shall not be disposed of for less than their par value.

So many of the said bonds as may be necessary to purchase the land
and water from which the supply is to be furnished may be issued at
any time at which the said council may deem it necessary to make the
said purchase; but the remainder of the said bonds shall not be issued
prior to the year nineteen hundred and twelve, unless the contract now
existing between the said city and the Portsmouth, Berkley and Suffolk
water company shall be sconer annulled, at which said time any and all
of the said bonds may be issued.

2. And the said council is further authorized and empowered to ap-
point a board of water commissioners, consisting of the mayor, the city
engineer, and five other qualified voters of said city, and also to appoint
such other officers and agents as it may deem necessary for the construc-
tion and maintenance, operation, and administration of the said water
works and eupply of water; to fix their time of appointment, their term
of office, their duties, and their salary, except that the said board of
water commissioners shall receive no compensation whatever for their
services; and for the purpose of carrying into effect the objects of this
bill the said council may do any and all such other acts and things as
it may deem necessary.