Chap. 37.—An ACT to authorize and empower the board of supervisors of
Halifax county to borrow $40,000 and to issue notes therefor for the purpose
of paying off the indebtedness existing against the county road fund and
the general county fund of said county. [S B 30]

Approved February 17, 1922.

Whereas there is an outstanding indebtedness against the county
road fund and the general county fund of Halifax; and

Whereas, it is deemed advisable by the board of supervisors of
said county that notes should be issued for the purpose of funding
the said indebtedness; therefore

1. Be it enacted by the general assembly of Virginia as follows:

Sec. 1. The board of supervisors of Halifax county is hereby
authorized and empowered to borrow a sum not exceeding forty
thousand dollars, and to issue notes therefor, said notes to be issued
in such denominations as the said board may provide, and shall be
payable in ten years, bearing interest not exceeding six per centum
per annum. The said notes shall not be sold for less than par, and
may be redeemed by the board of supervisors at any time after the
expiration of five years from their date of issue. |

Sec. 2. The notes authorized by this act shall be signed by the
chairman of the board of supervisors and countersigned by the clerk
thereof, and the proceeds thereof shall be used by the said board
in retiring the indebtedness that appears against the county road
fund and the general county fund on November thirtieth, nineteen
hundred and twenty-one.

Sec. 3. The treasurer of Halifax county shall annually set aside,
out of the general -levy, and charge against the respective funds in
the proportion as the said indebtedness exists, a sum sufficient to
pay the interest on the said notes and to create a sinking fund to
redeem the principal thereof at maturity.

Sec. 4. An emergency existing, this act shall be in force from
its passage.