CHAP. 6.—An ACT to amend and re-enact section 61 of an act entitled ar
act to provide a new charter for the city of Bristol, and to repeal al:
acts or parts of acts in conflict therewith, approved March 14, 1908

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Approved September 4, 1919.

Whereas, section fifty-nine of an act entitled an act to pro.
vide a new charter for the city of Bristol, and to repeal all act:
or parts of acts in conflict therewith, approved March four.
teenth, nineteen hundred and eight, was amended by chapte
fifty-six of the acts of nineteen hundred and fifteen, approvec
February fifteenth, nineteen hundred and fifteen, and furthe
amended by chapter four hundred and fifteen of the acts o
nineteen hundred and eighteen, which former act recited th:
purpose to remove, and did remove, the limit of taxation thereto-
fore applying to said city, and

Whereas, section sixty-one of said charter still contains a
tax limit provision similar to the provision formerly contained
in section fifty-nine, which provision in section sixty-one was
in effect and by necessary implication repealed by said act of
February fifteenth, nineteen hundred and fifteen, and

Whereas,- the city has recently sold one hundred thousand
dollars street improvement bonds, dated May fifteenth, nine-
teen hundred and nineteen, on the true representation that its
taxing power was unlimited, and it is intended by this act to
confirm such representation to the first and to subsequent pur-
chasers of said bonds, and to expressly repeal the tax limit pro-
vision in section sixty-one.

Be it enacted by the general assembly of Virginia, That
section sixty-one of said charter be and is hereby expressly
amended and re-enacted as follows:

Sec. 61. The council shall annually cause to be made up
and entered on their journal an account of all sums lawfully
chargeable on the city which ought to be paid within one year,
and order a city levy of so much as in their opinion is necessary
to be raised in that way, in addition to what may be received
for licenses and from other sources. The levy so ordered may
be upon the male persons in the said city above the age of
twenty-one years and upon any property therein, and on such
other subjects as may at that time be assessed with State taxes
against persons residing therein. .

For the execution of its powers and duties the council may
tax all real and personal property in the city not exempt by law
from taxation; all corporations located in the city or having
their principal office therein and not exempt by law from tax-
ation; all moneys owned by, or credits due to, any person living
in the city, all capital of persons having a place of business in
the city and doing business therein, and employed in said busi-
ness, though the said business may extend beyond the city; pro-
vided, that so much of said capital as is invested in real estate,
or employed in the manufacture of articles outside the city
limits, shall not be taxed as capital; all stocks in incorporated
joint stock companies doing business in the city, and by whom-
soever owned, and not exempt by law from taxation; income,
interest, or money, dividends of banks or other corporations;
provided, that no such capital, interest, income or dividends
shall be taxed when a license or other tax is imposed upon the
business in which said capital is employed, or upon the princi-
pal, money, credits or stock from which the interest, income,
cr dividend is derived; nor shall a tax be imposed at the same
time upon stock of a corporation and upon the dividends thereon.
Assessment upon stocks and bonds shall be according to the
market value thereof. The council may tax deeds and all other
papers placed upon the records in the clerk’s office, any sums
not exceeding like taxes levied by the State.

2. Said bonds having been sold with such representation,
an emergency is declared to exist, and this act shall be in force
from its passage.