Chap. 138.—An ACT to authorize Albemarle county to borrow money and
issue bonds for a sum not exceeding $30,000, to refund the bonds issued
under act approved February 20, 1908. (H. B. 295.)

Approved March 20, 1914.

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 refund the bonds issued under an
act approved February twentieth, nineteen hundred and eight.

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 dol-
lars ($2.000) each consecutive year after payment of them is be-
gun, which shall be on January one, nineteen hundred and ten, or
sooner if said board thinks proper.

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

4. The said board of supervisors shall have full power to ne-
gctiate 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 Charlottesville, Virginia, 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
percentum 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, this act is declared an emergency act, and
shall be in force from its passage.