CHAP. 184.—An ACT to amend and re-enact an act approved March 20,
1914, entitled 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. 215.)

Approved March 16, 1916.

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 thou-
sand 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 counter-
signed by the clerk, payable not more than thirty years after
the date of issue: the said bonds to be in the denominations of
one thousand dollars ($1,000) and five hundred dollars ($500)
each, or of either, as the said board may think best, with cou-
pons attached for the semi-annual interest. Said bonds shall
be numbered consecutively and shall contain a provision that at
any time after five (5) years from the date thereof any or all of
the said bonds at the option of said board may be paid off, but
in case the said board of supervisors after the expiration of five
(5) years should wish to pay off any or all of said bonds, they
shall select by lot the bonds so to be paid off at any time, and
shall give notice by publication in some newspaper published
in the city of Charlottesville or county of Albemarle, for at
least once a week for four consecutive weeks of the numbers of
said bonds so selected and, thereupon, they shall be authorized
to pay off the bonds so selected upon any interest period after
the said selection by lot of the said bonds shall have been made
and publication given, and thereupon interest shall cease upon
said bonds so selected at the next period after the same shall
have been selected for payment and the board of supervisors
may continue this method of payment of said bonds after the
said period of five (5) years from their date, from time to time,
until all of said bonds are paid off.

3. The said board of supervisors may fix the rate of inter-
est which the said bonds shall bear, but such rate shall not ex-
ceed six per centum per annum.

4. The said board of supervisors shall have full power to
negotiate the said bonds, through an agent, or in any way they
may think kest, 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 purpose
for which they are raised; provided, however, that they shall
not negotiate the six per centum 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.