Chap. 179.—An ACT to amend and re-enact an act entitled an act to authorize
the school board of Templeton school district in Prince George county to
borrow money, not to exceed $18,000, for the purpose of paying off the
present indebtedness of the district and for the erection of school buildings
for white and colored at Disputanta, approved February 11, 1922. [H B 483]

Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That an
act entitled an act to authorize the school board of Templeton school
district in Prince George county to borrow money, not to exceed
eighteen thousand dollars, for the purpose of paying off the present
‘indebtedness of the district and for the erection of school buildings
for white and colored at Disputanta, approved February elever2tl
nineteen hundred and twenty-two, be amended and re-enacted so a
to read as follows:

Sec. 1. The school board of Templeton school district in Princ:
George county is hereby authorized and empowered to borrow money
not to exceed eighteen thousand dollars, the proceeds of such loan tc
be used for paying the present indebtedness of the said district
amounting to ten thousand dollars, and for the erection of schoo!
buildings for white and colored pupils at Disputanta.

Sec. 2. The said loan shall be effected by issuing the bonds of
the said school district, signed by the chairman and the clerk of the
said board; they shall be in such denominations as the board may
determine ; they shall bear interest at the rate of six per centum per
annum, interest coupons attached, payable semi-annually in Richmond
or New York, and they shall mature in twenty years from their date.
The said bonds and attached coupons shall be a lien on all the school
property in said district.

Sec. 3. The said board shall have full power to negotiate and sell
the said bonds through an agent or by such other methods as in its
discretion may seem best; provided, however, that the said bonds
shall not be negotiated or sold for less than their normal or par value.

Sec. 4. After issuing the bonds, or any of them, provided for in
this act, when the first levy is made by the board of supervisors a
tax shall be levied on all property subject to local taxation in said
district, to pay interest on the bonds so issued and to create a sinking
fund as provided in the general school law to redeem the principal
thereof at maturity ; and from year to year such levies shall be made
on such property in said district until such debt, together with the
interest thereon, is paid, the said levy to be made upon the recom-
mendation of the said school board and not to exceed the rate provided
by law.

2. An emergency existing, this act shall be in force from its
passage.