Chap. 97.—An ACT to amend and re-enact section 12 of an act approved
March 16, 1910, entitled an act to amend and re-enact sections 6 and 12
of an act entitled an act to annex additional territory to the city of
Norfolk, and provide for the government of said annexed territory,
approved March 14, 1902. (S. B. 113)

Approved March 15, 1915.

Be it enacted by the general assembly of Virginia, That section twelve
of an act approved March the sixteenth, nineteen hundred and ten, en-
titled an act to amend and re-enact sections six and twelve of an act
entitled an act to annex additional territory to the city of Norfolk, ahd
provide for the government of said annexed territory, approved March
fourteenth, nineteen hundred and two, be amended and re-enacted so
as to read as follows:

Section 12. It shall not be lawful for the city of Norfolk to issue
bonds predicated upon or taking into account the assessed value of the
property embraced within the territory acquired under this act until the
fourteenth day of March, nineteen hundred and seventeen, unless the
same shall be issued by the city to pay for the purchase of property to
be used for public free school purposes in said ward, or for the erection,
repair or enlarging of public free school buildings in said ward, or
for any local improvement of a permanent character, or for a fair pro-
portion of the cost of any public building which may be erected in said
city of Norfolk, such proportion to be based upon the assessed value of
the property in said ward as compared with the assessed value of the
property in the other wards of said city; in which case bonds shall be
issued by the city council of the city of Norfolk, upon the recom-
mendation of the local board of improvement of said ward, for the
amounts necessary to pay for such public free school property, or such
erection, enlarging, or repairing of public free school buildings in said
ward, and other local improvements as aforesaid; provided the amount
appropriated for such public free school purposes shall not exceed the
sum of twenty-five thousand dollars in any one calendar year, beginning
with the first day of January, and the proceeds of said bonds shall be
expended in the manner provided by section six of said act for expendi-
ture of the taxes collected for general purposes. An account of bonds
issued under this section shall be kept by the board of sinking fund
commissioners of said city, and also by the city treasurer. The amount
necessary to pay the interest on such bonds, and for such amount as the
city council shall provide, from time to time, as a sinking fund on said
bonds not exceeding one and one-half per centum, (1-'%4%) thereof in
any one year, shall be annually reserved by the city treasurer out of the
taxes collected from the said city from the said ward to pay the interest
on the said bonds as it becomes due and payable, and for such sinking
fund. All bonds heretofore, to-wit: March ninth, nineteen hundred
and fifteen, issued, or hereafter, to-wit: March ninth, nineteen hundred
and fifteen, authorized to be issued, including ninety thousand dollars
($90,000.00) of certificates of debt of an issue of five hundred thousand
dollars ($500,000.00) of certificates of debt of the city of Norfolk, dated
September the fifteenth, nineteen hundred and fourteen, and payable
September the fifteenth, nineteen hundred and fifteen, issued under an
ordinance of said city, approved September sixteenth, nineteen hundred
and fourteen, for the purpose of improvements in the said ward, are
hereby declared to have been lawfully predicated upon the value of
property in the said ward.

(2) Except as herein otherwise provided, this act shall not affect the
bonding limit existing in said ward.

(3) Owing to the instability of the money market caused by the
European war, which may render it necessary for the city of Norfolk
to issue refunding bonds within ninety days in order to sell them on
terms advantageous to the city of Norfolk, this act is hereby declared
to be an emergency act within the provisions of section fifty-three (sec-
tion 53) of the Constitution, and the same shall be in force from its
passage.

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