Chap. 247.—An ACT authorizing the city of Fredericksburg to issue bonds
to redeem what are known as gas and bridge bonds, and to issue bonds
to pay for the construction and equipment of a high school building for
the city on such site as the city may select. [S B 366]

Approved March 15, 1918.

Whereas, the city of Fredericksburg did under and bv virtue
of an act entitled an act authorizing the city of Fredericksburg
to issue bonds to redeem what are known as her gas and bridge
bonds, approved February eighteenth. eighteen hundred and ninety-
eight, issue bonds to the amount of fifty thousand dollars, known
as gas and bridge bonds; and ; |

Whereas, all of said bonds now outstanding, aggregating the
sum of thirty-seven thousand, four hundred dollars, will mature in
January, nineteen hundred and twenty; therefore,

1. Be it enacted by the general assemblv of Virginia, That the
mayor and common council of the city of Fredericksburg, be, and
they are hereby, clothed with the power to issue bonds of said city
to an amount not to exceed thirty-seven thousand dollars, bearin
interest not exceeding six per cent. per annum, and payable at su
periods as the said council may elect, said bonds to be registered or
coupon bonds, convertible as said council may elect.

The said council shall use the bonds so issued for the purpose
of the payment of the aforesaid gas and bridge bonds of said city,
and for no other purpose, and may negotiate said bonds, at a price
not lower than their par value. a

2. Be it further enacted by the general assembly of Virginia,
That the mayor and common council of the city of Fredericksburg,
be, and they are hereby, clothed with the power to issue bonds of
said city to an amount not to exceed fifty thousand dollars, bearing
interest not exceeding six-per cent. per annum and payable at such
periods as the said council may elect, said bonds to be registered
or coupon bonds, convertible as said council may elect.

‘The said council shall use said bonds so issued for the purpose
of the erection and equipment of a high school building for said city
and obtaining a site for the same, and for no other purpose, and
may negotiate said bonds at a price not lower than their par value.