Chap. 80.—An ACT to authorize the city of Fredericksburg, Virginia, to issue
coupons or registered bonds of the city for the purpose of enabling the
city to appropriate $20,000 cash toward the establishment at or near the
city of a State normal and industrial school for women.

Approved March 2, 1910.

1. Be it enacted by the general assembly of Virginia, That it shall
be lawful for the council of the city of Fredericksburg, in order to enable
said city to appropriate twenty thousand dollars cash toward the estab-
lishment at or near said city of a State normal and industrial school for
women, in pursuance of the act of the general assembly of Virginia of
March fourteenth, nineteen hundred and eight, to issue coupon or regis-
tered bonds in sums not less than one hundred dollars, to an amount not
to exceed twenty thousand dollars at their par value, and bear interest
at a rate not to exceed four per centum per annum, payable senu-
annually. Said bonds may be made payable, and may be redeemable, at
the option of the council, at such time as the council may declare on the
face of the bond. The said bonds shall be signed by the mayor and the
city treasurer, and attested by the clerk of the council, with the corporate
seal of the city affixed thereto, and the coupons shall each bear the signa-
ture of the city treasurer signed thereto. ‘The said bonds shall be exempt
from any and all taxation by the city of Fredericksburg or the city
council, and shall not be sold for less than their par value: provided,
that such bond issue, together with the existing indebtedness of said city,
shall not exceed the limit fixed by section one hundred and twenty-seven
of the Constitution of Virginia and the statute made in pursuance
thereof.

2. That the council be authorized, annually, to levy and collect taxes
sufficient to pay the interest on all bonds issued under this act, and the
said council shall provide for the payment of the principal of said bonds
when the same shall mature and become payable, and, in their discre
tion, may create a sinking fund to be applied to the redemption and
payment of said bonds as provided by general law.

3. It being necessary that the foregoing appropriation be made at
once, an emergency exists, and this act shall become a law from the
date of its passage.