Chap. 103.—An ACT to authorize the school board of Powhatan district No.
2, of the county of James City, and the school board of Stonehouse dis-
trict No. 3, of the county of James City, of the State of Virginia, to
borrow money, and to issue bonds for the purpose of paying off and
discharging the present indebtedness upon the Toano high school, owned
jointly by said school districts, and making such further improvements
to said high school, and any other purpose deemed pertinent by said
school board, and to provide for the payment of such bonds and the in-
terest to accrue thereon. (H. B. 80.)

Approved March 16, 1914.

1. Be it enacted by the general assembly of Virginia, That
whenever the schcol board of Powhatan district number two, of the
county of James City, and the school board of Stonehouse district,
number three, of the county of James City, shall, by joint resolution
duly spread upon the minutes of the proceedings of such boards,
declare that funds are necessary for the purpose of paying off and
discharging the present indebtedness upon the Toano high school,
which has already been erected, at an approximate cost of twenty-
five thousand dollars. and making further necessary improvements
to said schcol, cr any other purpose whereby additional funds will
be needed, and the statement of facts contained in such resolution of
such beards shall be confined and approved by resolution of the
board of superviscrs of the county of James City, the said school
boards of said districts, when authorized by a vote of the majority
of the qualified vcters of said districts, respectively, voting as here-
inafter provided, may borrow money for the purposes aforesaid, and
may issue coupon bonds for the sums of money so borrowed; the
said bonds to be payable at a period not exceeding thirty years after
that date, and to be redeemable at the option of said school boards,
at such time after their date as may be specified in the bonds, and
such bonds shall bear interest at a rate not exceeding six percentum
per annum, payable either annually or semi-annually, as said school
boards may prescribe; provided, that the said bonded indebtedness
shall not exceed twenty-five thousand dollars, and provided that
such bonds shall not be sold for less than their par value, and that
at no time shall the aggregate amount of bonds issued and outstand-
ing in said districts exceed seventeen percentum of the aggre-
gate assessed value of the real estate located in said school districts
respectively. ,
2. That the said bonds shall be of such form and denomination
as the said school boards, by joint resolution spread upon the
minutes of said boards, may prescribe, and shall be signed by the
chairman, and attested by the secretary of said boards, respectively,
the said bonds to be a lien upon the said Toano high school property,
together with all buildings and improvements thereon, or to be
erected thereon, and to be secured by a deed of trust executed by
said school boards, respectively.

3. That the proceeds realized from the sale of any such bonds
issued under the provisions of this act may be used by said school
boards respectively, for the purpose of paying off and discharging
the present indebtedness against the said Toano high school prop-
erty, the erection of any additional buildings or improvements, and
furnishing the same, and such other school purposes as the said
school boards may deem proper and expedient.

4, That no bonds shall be issued under the provisions of this
act unless authorized by a vote of the majority of the qualified
voters of said school districts voting at a special election to be
ordered and heid as hereinafter provided.

5. When the resolutions of the said school boards and of the
board of supervisors of the county of James City shall be certified
to the circuit court of the city of Williamsburg and county of James
City, the said court shall order a special election to be held in said
school districts, at such time and after such notice (which shall not
be less than two weeks), as the said court may prescribe by order
entered upon its minutes, to pass upon the question whether such
bonds shall be issued or not, for the amount recommended by said
school boards of said districts. And the clerk of the said court shall
give the notice required by the court of such special election, by pub-
lication in the Virginia Gazette, a newspaper published in the city
of Williamsburg, Virginia, and by having the same posted by the
sheriff in said county in at least ten conspicuous points in such
school districts, which said notice shall state the amount of bonds
to be issued, the purposes of the proposed issue thereof, and the
clerk and sheriff of said county shall each receive for their services
hereunder two dollars, to be paid out of the county treasury.

6. The board of supervisors shall prepare the tickets and all
cther necessary details for such special election, and shall pay the
expenses thereof out of the funds of the county, and any such elec-
tion shall be conducted and held in like manner as a regular elec-
tion, and the laws of the State applying to general elections shall
apply to such special election, except as hereinafter provided; and
the judges and clerks of the regular election in said school districts
shall be the judges and clerks in any such special election, and shall
receive the same compensation; and the voting precincts in said
school districts for general elections shall also be the same for such
special election.

7. The judges and clerks of such special election shall canvass
the vote and certify the same to the clerk of said court in the same
manner as required by law in general elections, and on the second
day following such special election it shall be the duty of said clerk,
the Commonwealth’s attorney, and the commissioner of the revenue,
who are hereby constituted a board of canvassers for that purpose,
to meet in the clerk's office of said county, and to canvass the returns
of such special election, and to certify the results ascertaining by
them to the board of supervisors of said county, who shall spread the
same upon the minutes of the board, and when this shall have been
done, if no notice of contest of said election shall have been filed
within ten days after said election, the certificates of the canvassing
board, hereby created, shall be conclusive of the legality and regu-
larity of said special election and the result thereof.

8. The registered voters of said school districts, who were quali-
fied by law to vote in the last preceding general election, shall be
qualified to vote in any such special election.

9. From the school levies of such school districts, there shall
be paid, as it matures, the interest on the bonds hereby authorized,
and there shall be set aside annually, as a sinking fund, such a sum
as will provide for the payment of the principal when it matures.
Such sinking fund shall be invested in the bonds hereby authorized.
cr in such other securities as the said board may, with the approval
of the division superintendent of schools for said county, select.
The said school boards of said districts shall annually report to the
board of supervisors of said county the amount of the debt outstand-
ing, and the amount and condition of the sinking fund.

10. This act shall not be construed to repeal or to amend any
special acts passed by this or any previous general assembly, allow-
ing or authcrizing any school district in this State to borrow money
and to issue bonds therefor.