Chap. 116.—An ACT to authorize the school board of Washington magisterial
district, No. 5, of the county of Norfolk, to borrow money for the purpose
of school improvements in said district, and to issue bonds therefor, not
exceeding $125,000.000 in amount. {H B 200]

Approved March 4, 1922.

1. Be it enacted by the general assembly of Virginia, That
the school board of Washington magisterial district, number five,
of the county of Norfolk, be authorized and empowered to borrow
money not to exceed the sum of one hundred and twenty-five thou-
sand dollars, the same to be used for school improvements in said
district.

2. That the said school board shall issue bonds not to exceed the said
sum of one hundred and twenty-five thousand dollars, the said bonds
to be in denominations of one thousand dollars, to bear interest not
to exceed six per centum per annum, payable semi-annually, with in-
terest coupons thereto attached, and the principal thereof to be paid
twenty years after date thereof, and to be a lien upon all the school
property of said school district, number five, of the county of Nor-
folk. The said school property shall be pledged for the payment of
the principal and interest thereof, according to their tenor and date,
and the said bonds shall be in the form following:

Know all men by these presents: That the school board of Wash-
ington magisterial district, number five, of the county of Norfolk, in
the State of Virginia, is justly indebted to ___-----~- , or bearer, in
the sum of ~________-_- dollars, redeemable twenty years after date
hereof, and bearing interest at the rate of six per centum per annum
from date, payable semi-annually, on surrender of the proper coupons
hereto attached, until the payment of the principal sum. _

In testimony whereof the said school board of Washington magis-
terial district, number five, of the county of Norfolk, has caused the
corporate seal to be affixed, and these presents to be signed by its
chairman and attested by its clerk, this ___. day of ~-.-_____- , nine-
teen hundred and -__---.

3. That in making sale of the said bonds that shall be issued in
accordance with the provisions of this act, at no time shall the said
bonds be sold for less than their par value; and the said school board
shall provide for the payment of the accruing interest, and also for
the principal of said bonds, in-such manner and by such means not
in conflict with general law as it shall deem necessary.

4. The said bonds shall be issued and sold by the said school
board for the purposes of raising said sum of money, or any part
thereof, only for the purpose herein set ‘out.

5. The necessity of raising money for the purposes of school im-
provements in this district creates an emergency and this act shall be
in force from its passage.