Chap. 17.—An ACT to amend and re-enact sub-sections four and seven of
section thirty-nine of the charter of the city of Norfolk, as amended by
an act approved March 20, 1916. [H B 21)

Approved February 5, 1915.

1. Be it enacted by the general assembly of Virginia, That sub-
sections four and seven of section thirty-nine of the charter of the
city of Norfolk, as amended by an act approved March twentieth,
nineteen hundred and sixteen, be amended and re-enacted so as to
read as follows:

(4) Notwithstanding anything in this section contained, it shall
be lawful for the said city to issue, without there being filed the
certificate of the city engineer, above mentioned, bonds, notes, or
other obligations for the purpose of refunding, so far as necessary,
any obligations of the city created before April first, nineteen hun-
dred and sixteen, but maturing thereafter, or for the purpose of re-
funding bonds of the city heretofore issued, which mature not more
than three years after the date of their issue, but no such refunding
bonds, notes, or other obligations shall be issued for a period of
more than twenty-five years, except that bonds issued for the purpose
of refunding bonds of said city heretofore issued, which mature not
more than three years after the date of their issue, may be issued
for a term not exceeding thirty-five years; and all such refunding
bonds shall conform to the requirements set forth in clause five or
six of section thirty-nine, as the case may be.

(7) AJ] bonds issued after April first, nineteen hundred and
sixteen, shall be paid at their respective maturities, and, except in
the case of obligations of said city, issued after April first, nineteen
hundred and sixteen, and prior to the enactment of this charter.
which mature not more than three years from the date thereof, no
refunding bonds shall be issued for the payment thereof; provided,
however, that if for any reason there shall not at the time of the ma-
turity of any such bonds be sufficient funds of said city available for
the payment thereof, it shall be lawful for the city to borrow money
and issue negotiable notes to the amount required to pay such ma-
turing bonds, which bonds shall be paid out of taxes to be levied and
collected within the three years next succeeding the year in which
such notes were issued. The payment out of the proceeds of the
sale of any bonds of temporary loans, made in anticipation of the
sale of such bonds, shall not be deemed a refunding of such tempo-
rary loans within the meaning of this clause. If the council shall
fail to make provision for the payment of any sinking fund install-
ment required as to any bonds lawfully issued under this section, or
of any installment of serial bonds lawfully issued under this sec-
tion, and such default shall continue for sixty days, then, and in
either of said events, the city treasurer shall, without further direc-
tun from the council, and notwithstanding any contrary direction
from the council, pay such sinking fund or serial bond installment
from moneys then in his hands, if sufficient; and, if not, then from
the first moneys that shall come into his hands thereafter.