Chap. 154.—An ACT to authorize the school board of Tanner’s creek magis-
terial district, No. 6, of the county of Norfolk, Virginia, to borrow money
for the purpose of school improvements in said district, and to issue
bonds therefor, not to exceed the sum of $75,000 in amount. (H B 292]

Approved March 13, 1918.

1. Be it enacted by the general assembly of Virginia, That the
school board of Tanner’s creek magisterial district, number six, of
the county ef Norfolk, Virginia, be authorized and empowered to
borrow money, not to exceed the sum of seventy-five thousand dol-
lars, the proceeds of such loan to be used for school improvements
in said district. .

2. The said school board may issue bonds not to exceed the sum
of seventy-five thousand dollars, to bear interest not to exceed five
per centum per annum, payable semi-annually, with interest cou-
pons attached thereto, and the principal thereof to be paid twenty
(20) years after date thereof, said bonds to be a lien upon all of
the school property of said school district, number six, of said county
of Norfolk. The said school property shall be pledged for the pay-
ment of the principal and interest of said bonds, as therein set forth,
and as shown by interest coupons thereto attached, which said bonds
shall be in form as follows:

Know all men by these presents, That the school board of
Tanner’s creek magisterial district, number six, of the county of
Norfolk, in the State of Virginia, is justly indebted to and promises
tO PAY ..... cece ee eee eee the sum of one thousand dollars, bear-
ing interest at the rate of five per centum from date, payable semi-
annually on surrender of the proper interest coupons hereto attached,
until said principal sum shall be paid in full.

In testimony whereof, the said school board of said Tanner’s
creek magisterial district, number six, of the county of Norfolk
Virginia, hath caused the corporate seal of the same to be affixed
and these presents to be signed by its chairman and attested by its
clerk, this the ........ day of ........ cc eeeee » nineteen hundred
and ........ :

3. The said bonds shall be in denomination of the one thousand
dollars each, and in making sale of same in accordance with the pro-
visions of this act, such bonds shall in no event be sold at less than
the par value thereof. And the said school board shall provide for
the payment of the accruing interest on said bonds, or so many
thereof as may be issued and sold, and also for the payment of the
principal of said bonds, in such manner and by such means as it
shall deem necessary.

4. The said bonds, or any one or more of same, may be issued
and sold by the said school board, only for the purposes herein set
forth.

5. The necessity for raising money for the purposes of afore-
said improvements in said district, creates an emergency, and this
act shall be in force from its passage.