Chap. 120.—An ACT to authorize the board of supervisors of Lee county to
borrow money and to issue bonds of said county, or any of the magis-
terial districts thereof, for a sum not exceeding $50,000.00, for the purpose
of repairing damage done by flood to the public roads and bridges of
said county, and to levy taxes to pay the interest thereon and to create
a sinking fund for the payment of such bonds at maturity. [S B 272]

Approved March 9, 1918.

Whereas, the public roads and bridges of Lee county have been
damaged by extraordinary flood, and the said county has no funds
presently available for use in repairing such damage;

Therefore, be it enacted by the general assembly of Virginia,
That the board of supervisors of Lee county be, and it is hereby,
authorized and empowered, in its discretion, to proceed immediately,
and from time to time, as it may deem expedient, to issue bonds of
the said county, for the said county, or for any of the magisterial
districts thereof, either or both, not to exceed in the aggregate the
sum of fifty thousand dollars, for the purpose of providing funds
for repairing the public roads and bridges of said county, or of the
magisterial districts thereof; such bonds to be payable or redeemable
at such time or times, not exceeding ten years from the date of issue,
and to bear interest, payable semi-annually at such rate, not exceed-
ing six per centum per annum, and to be of such denominations, and
to be either coupon or registered, as the said board of supervisors
may determine. The sale of such bonds may be conducted and
2ffected in such manner as the said board of supervisors may deter-
mine 2 provided, such bonds shall not be sold at less than their par
value.

2. The said board of supervisors shall annually levy a tax upon
111 the property within said county, or within any of the magisterial
listricts thereof, or both, as the case may be, except such roperty
ocated, or the situs for taxation whereof may be within the limits
yf any Incorporated towns which maintain their own streets, at such
rate as will be sufficient to pay the interest on such COU Y eee
bonds, and to create a sinking fund for the payment of the principal
thereof at maturity. .

3. By reason of the fact that the public interest requires that the
damage to said roads and bridges be repaired immediately, an
emergency is hereby declared to exist, and this act shall be in force
from its passage.