Chap. 347.—An ACT to authorize and empower the district school bourds of
the county of Page to borrow money for certain purposes. {li B 451]

Approved March 16, 1918.

Whereas, some of the districts of the county of Page, owing to
the increased cost of material and labor, find 1t necessary to make
temporary loans in order to complete, improve and equip school
buildings and to pay for real estate necessary for said schools;
therefore

Be it enacted by the general assembly of Virginia, That the sev-
eral district school boards of the county of Page, desiring to bor-
row money for the purpose aforesaid, be and the same are hereby
authorized to borrow a sum of money which shall not exceed one-
fourth the value of the property to be completed, improved, equipped
or enlarged, such loans to be repaid at such time or times within
the space of ten years as may seem best to the respective school
boards, and to bear interest at a rate not exceeding six per centum
per annum.

2. All funds derived from the loans provided for by this act
shall be handled by the county treasurer, who shall receive one per-
centum of each loan for handling same.

3. The privileges conferred y the provisions of this act shall
not extend longer than the first day of January, nineteen hundred
and twenty.

4. An emergency existing by reason of the facts stated in the
preamble, this act shall be in force from its passage.