CHAP. 91.—An ACT to authorize the School Board of Jerusalem Maviste-
rial District, Southampton county, Virginia, to borrow money for the
purpose to pay off school indebtedness in said district, and to issue
bonds therefor, not exceeding $12,000.00 in amount.

Approved March 7, 1912.

1. Be it enacted by the general assembly of Virginia, That
the school board of Jerusalem magisterial district, Southampton
county, Virginia, be authorized and empowered to borrow money
not to exceed the sum of twelve thousand ($12,000.00) dollars,
the same to be used for the purpose to pay off school indebtedness
in said district.

2. That the said school board may issue bonds not to exceed
the said sum of twelve thousand dollars, the said bonds to be in
denominations of one hundred ($100.00) dollars, each to bear
interest not to exceed six per centum (6%) per annum, payable
annually, with coupons attached, and the principal ta be paid
in twenty (20) years after date ‘thereof, and to be a lien upon
all the school property of the said district. The school prop-
erty of said district shall be pledged for the payment of the
principal and interest, and the said bonds shall be in the form
following:

Know all men by these presents, That the school board of
Jerusalem magisterial district, Southampton county, Virginia,
is justly indebted to. . ...... ccc ecw ee eee or order, in the
Sum Of .... ccc cee c cece cece cece dollars, and bearing inter-
est at the rate of six per centum (6%) per annum from date,
payable annually on surrender of the proper coupons attached
thereto, until payment of the principal sum. The said bonds
to be non-taxable for county and district purposes, with right
of the said school board, at any time after twelve months from
the issue of said bonds, upon giving ninety days’ notice by due
advertisement in the county papers, and the Norfolk, Virginia,
morning paper, to call in and pay off one or all of the said
bonds, interest thereon to cease from and after the expiration
of publication of such notice.

In testimony whereof, the said school board of Jerusalem mag-
isterial district, Southampton county, Virginia, has caused the
corporate seal of the same to be affixed, this the ........... day

re nineteen hundred and twelve (1912.)

3. That in making sale of the said bonds that shall be issued
in accordance with the provisions of this act, the same shall not
be sold for less than their par value, and the said school board
shall provide for the payment of the accruing interest, and also
for the principal of said bonds in such manner and by such means
as it shall be necessary out of the district school funds.

4. The said bonds may be issued and_sold by the said school
board for the purpose of raising the said sum of money, or any
part thereof only for the purpose hereinbefore set out.

5. The necessity of raising the money for the purpose of
running the school in said district creates an emergency, and
this act shall be in force from its passage.