Chap. 393.—An ACT to authorize and direct the board of supervisors of Wise
county to borrow one hundred twenty-five thousand dollars for the pur-
pose of grading, macadamizing or otherwise permenantly improving what
is known as Applachia-Lynch highway in Richmond magister®) district.

H B 523]
Approved March 24, 1922.

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Wise county be, and it is hereby, authorized
and directed to borrow.a sum not exceeding one hundred twenty-five
thousand dollars for Richmond magisterial district in said county,
the proceeds of said loan to be used for the purpose of grading, mac-
adamizing or otherwise permanently improving the road in said Rich-
mond magisterial district commonly known as “Appalachia-Lynch
highway,” leading from a point near the commissary at Laura mines
to the Kentucky State line at the top of Black mountain, connecting
there with the proposed highway through Harlan county, Kentucky.
Provided, however, no such bonds shall be issued or sold hereunder
until after a majority of the qualified voters of said magisterial dis-
trict voting at such election shall have voted in favor of such bonds
at an election called and held for the purpose pursuant to the pro-
visions of general law for issuing county and district road bonds.

2. The said loan shall be effected by issuing bonds of the said
county, signed by the chairman of the said board of supervisors, and
countersigned by the clerk thereof, in denominations of one thousand
dollars, payable in not exceeding thirty years after the date thereof,
with coupons attached for the semi-annual payment of interest at a
rate of interest not exceeding six per centum per annum; provided,
however, that any or all of the bonds shall, by the terms thereof,
be made redeemable at the discretion of the said board at any time
after the expiration of twenty years from the date of issue.

3. After issuing the bonds, 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 Richmond magisterial dis-
trict in said county, to pay interest on bonds so issued and to create
a sinking fund 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 not to exceed the rate provided by law.

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