Chap. 213.—An ACT to authorize the school board of Richmond district,

number one, of the county of Wise, to issue and sell bonds to.an amount

' mot exceeding $60,900 for the purpose of erecting and furnishing a new

- public school building in the village of East Stone Gap in said school district,

and to provide for the payment of the interest thereon and the principal
thereof at maturity. [

Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That the
school board of Richmond district, number one, of the county of
Wise, be, and it is hereby, authorized and empowered in its dis-
cretion, to proceed immediately or from time to time, as it may
deem expedient, to issue bonds of said school board, not exceeding
in the aggregate the sum of sixty thousand dollars ($60,000) for the
purpose of providing funds for the erection and furnishing of a new
public school building in the village of East Stone Gap in said
school district. Such bonds shall be signed by the chairman of said
board, and countersigned by the clerk thereof, under the seal of
said board; shall be payable or redeemable at such time or times,
not exceeding thirty years from the date of issue, as said board may
determine; shall bear interest payable at such times, and at such
rate, not exceeding six per centum per annum, as said board may
determine; shall be of such denominations, and either coupon or
registered, as said board may determine; and, if it shall be so stated
on the face of such bonds, there shall be a lien on all the school
property of said school district for the payment of the principal
thereof and the interest thereon. The sale of such bonds may be
conducted and effected in such manner as the said school board may
determine ; provided, such bonds shall not be sold for less than their
par value. :

2. The board of supervisors of Wise county shall provide for
the annual levy and collection of a tax upon all the property within
said school district subject to taxation for such purpose, at such
rate as will be sufficient to provide for the payment of the interest
on such bonds, and to provide a sinking fund for the payment of
the principal thereof at maturity.

By reason of the fact that the school building now being
used at said place is inadequate to serve the public needs, and is
unsafe on account of lack of protection from fire, and there is there-
fore an urgent necessity for the erection of such new building, an
emergency is hereby declared to exist, and this act shall be in force
from its passage.