Chap. 117.—An ACT to authorize the school board of Western Branch
magisterial district, No. 1, of the county of Norfolk, to borrow money for
the purpose of school improvements in said district, and to issue bonds
therefor, not exceeding $80,000.00 in amount. [H B 199]

Approved March 4, 1922.

1. Be it enacted by the general assembly of Virginia, That the
school board of Western Branch magisterial district, number one.
of the county of Norfolk,’be authorized and empowered to borrow
money not to exceed the sum'of eighty thousand dollars, the same to
be used for school impfoverhents in said district.

2. That the said school board shall issue bonds not to exceed the
said sum of eighty thousand dollars, the said bonds to be in denomina-
tions of one thousand dollars, to bear interest not to exceed six per
centum per annum, payable semi-annually, with interest 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 one of the county of Norfolk. The said school
property shall be pledged for the payment of the principal and in-
terest 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 West-
ern Branch magisterial district, number one, of the county of Nor-
folk, in the State of Virginia, 1 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 Western Branch
magisterial district, number one, 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 ------_-___---.
nineteen 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
improvements in this district creates an emergency and this act shall
be in force from its passage.