Chap. 140.—An ACT to authorize the issuance of $50,000.00 of bonds by
the city of Newport News for street improvements. (H. B. 4838.)

Approved March 9, 1916.

1. Be it enacted by the general assembly of Virginia, That
in addition to the present indebtedness of the city of Newport
News, and the certificates of debt or bonds which the council of
said city is otherwise authorized by law to issue; provided such
issue does not exceed the constitutional limit, the council of the
said city may by a three-fourths vote of each branch, in the
name and for the use of said city, cause to be issued certificates
of debts or bonds (the form of which shall be prescribed bv the
council) to the amount of fifty thousand dollars ($50,000), bear-
ing a rate of interest not exceeding six per centum per annum,
and payable in the discretion of the council, not less than thirty
nor more than forty years from their date.

2. The money derived from the sale of said bonds shall be
expended in improvements upon the streets of the city of New-
port News, and a sinking fund shall be created and maintained
for the redemption of said bonds at maturity, and shall be ap-
plied to no other purpose.

3. No such certificates of debt, or bonds shall be issued,
unless ‘and until the same shall have been authorized, and the
procedure followed as set out in an act of the general assembly
of Virginia, known as chapter two hundred and fifty-four, acts
of nineteen hundred and eight, entitled an act providing the
method by which cities and towns in this Commonwealth may
vote upon the issuance of bonds, contemplated by clause b of
section one hundred and twenty-seven of the Constitution, ap-
proved March thirteenth, nineteen hundred and eight.