Chap. 339.—An ACT to authorize Buckingham county, from time to time,
as necessary, to borrow money and issue bonds for a sum not exceeding
$50,000.00, for the purpose of uniting in the building, in the county

of Buckingham, of State money aid roads.

Approved March 14, 1912.

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Buckingham county be, and they are
hereby, authorized in their discretion to borrow from time to
time, as necessary, money not exceeding fifty thousand dollars,
with which to establish and construct on the State money aid plan
improved and permanent highways in the county of Buckingham,
to contribute one-half of the cost of constructing said permanent
highways in said county, under the supervision and direction of
the State highway commissioner.

2. Said loan or loans shall be effected by issuing bonds of the
county signed by the chairman of said board and countersigned
by the clerk thereof, payable in not more than thirty years from
the date of issue of said bonds; the said bonds to be in denomina-
tion of one thousand dollars and five hundred dollars, 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 not less than five hundred dollars each year,
so that all of the bonds shall become due and be paid off in sums
of not less than five hundred dollars each consecutive year after
the payment of them is begun, which shall be on January first,
nineteen hundred and fourteen, or sooner if said board thinks
proper.

3. The said board of supervisors may fix the rate of interest
which 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, ne-
gotiate said bonds through an agent or in any way they think
best, and may deposit the proceeds in any one or more banks in
the city of Richmond, Virginia, which are State depositories,
subject to their order, pending the application of such proceeds
to the purposes for which they are raised; provided, however,
that they shall not negotiate the six per centum bonds of the
county for less than par value.

5. On account of the necessity of immediate use of some of
the money to be raised, this act is declared an emergency act and
shall be in force form its passage.