Chap. 55.—An ACT to authorize Albemarle county to borrow and issue bonds
for a sum not exceeding $30,000, to pay off the floating debt for building the
new county poor-house, as well as to build a new bridge over the Rivanna
river at Rio Mills, and assist in securing under-grade crossings under the
tracks of the Chesapeake and Ohio Railway Company and of the Southern
Railway Company, respectively, in the county of Albemarle, and to re-imburse
the amount for the building of the bridge over James river at Scottsville.

Approved February 20, 1908.

1. Be it enacted by the general assembly of Virginia, That the board
of supervisors of Albemarle county, be, and they are hereby, authorized
to borrow money, not exceeding thirty thousand dollars ($30,000),
with which to pay off the floating debt incurred for the building of the new
county poor-house, and of the bridge over James river at Scottsville, and
also to erect a new bridge over the Rivanna river at Rio Mills, and assist
in securing under-grade crossings under the tracks of the Chesapeake
and Ohio Railway Company and of the Southern Railway Company,
respectively, in the county of Albemarle.

2. The said loan shall be effected by issuing the bonds of the county,
signed by the chairman of said board, and countersigned by the clerk,
payable not more than twenty years after the date of issue; the said
bonds to be in the denomination of one thousand dollars ($1,000) and
five hundred dollars ($500) each, or of either, as the said board may
think best, with coupons attached for the semi-annual interest, and the
principal shall be made to fall due in sums of two thousand dollars
($2,000) each year, so that all of the bonds shall become due and be paid
off in sums of two thousand dollars ($2,000) each consecutive year
after payment of them is begun, which shall be on January one, nineteen
hundred and ten, or sooner if said board thinks proper.

3. The said board of supervisors may fix the rate of interest which
the said bonds shall bear, but such rate shall not exceed six per centum
per annum.

4. The said board of supervisors shall have full power to negotiate the
said bonds, through an agent, or in any way they may think best, and
may deposit the proceeds in any one or more of the banks of Char-
lottesville, Virginia, subject to their order, pending the application of
such proceeds to the purposes for which they are raised, provided, how-
ever, that they shall not negotiate the six per centum bonds of the county
for less than par value.

5. On account of the necessity for the immediate use of some of the
money to be raised, especially that for the building of the bridge over
the Rivinna river at Rio, this act is declared an emergency act, and shall
be in force from its passage.