Chap. 470.—An ACT to amend and re-enact sections 3 and 6 of an act entitled
an act to provide for improving the public roads and bridges of Floyd
magisterial district in the county of Scott and to authorize the board of
supervisors to borrow money by the issue of bonds, and to build bridges.
grade and macadamize the roads in Floyd district. approved September 4,
1919. [S B 289]

Approved March 24, 1920. HS

1. Be it enacted by the general assembly of Virginia, That sec-
tions three and six of an act entitled an act to provide for improving
the public roads and bridges of Floyd magisterial district in the
county of Scott and to authorize the board of supervisors to borrow
money by the issue of bonds, and to build bridges, grade and macad-
amize the roads in Floyd district, approved September fourth, nine-
teen hundred and nineteen, be amended and re-enacted so as to read
as follows:

Sec. 3. The said board of supervisors are authorized to lay a
levy upon said district sufficient to create a sinking fund to be applied
to the redemption and payment of bonds so issued and shall annually.
until such bonds are paid, pay over to the sinking fund trustee, who
shall be the treasurer of Scott county, a sum sufficient to pay off such
bonds in not less than forty years. The bonds issued in pursuance
of this act shall be coupon bonds of not less denomination than one
hundred dollars nor more than one thousand dollars each, payable
in not more than forty years from date, and bearing interest payable
semi-annually, at a rate not exceeding six per centum per annum, the
said board having the right to redeem any such bonds after the expira-
tion of ten years. The said bonds shall be issued in the name ot
Scott county, Virginia, shall be signed by the chairman of the board
of supervisors of said county and shall have affixed thereto the seal
of said board. ;

‘Sec. 6. The said board may levy a tax in said district in addition
to the regular county levy, for an amount sufficient to pay the interest
on and providing a sinking fund for the amount, or amounts, so
expended in said district; provided, that said tax shall not be more
than one dollar and fifty cents on every one hundred dollars of real
estate and tangible personal property in said district.