Chap. 402.—An ACT to amend and re-enact an act entitled an act to authorize
the school board of Bellefonte school district, of the county of Nottoway,
Virginia to borrow money for the purpose of erecting a high school build-
ing at Blackstone in said district, and to issue bonds therefor not to ex-
ceed the sum of forty thousand dollars in amount, approved March 19,
1920, and to increase the amount of bonds authorized by said act to sixty
thousand dollars. {H B 203]

Approved March 24, 1922.

1. Be it enacted by the general assembly of Virginia, That an act
entitled an act to authorize the school board of Bellefonte school dis-
trict, of the county of Nottoway, Virginia, to borrow money for the
purpose of erecting a high school building at Blackstone in said dis-
trict, and to issue bonds therefor not to exceed the sum of forty
thousand dollars in amount, approved March nineteenth, nineteer
hundred and twenty, be and is hereby amended and re-enacted as
follows: to-wit:

Section 2. The school board of Bellefonte school district, of the
county of Nottoway, State of Virginia, be and is hereby authorizec
and empowered to borrow money not to exceed the sum of sixty
thousand dollars, the proceeds of such loan to be used for erecting
a high school building at Blackstone in said district.

Section 3. The said school board may issue bonds not to exceed
the sum of sixty thousand dollars, to bear interest not to exceed six
per centum per annum, payable semi-annually, with or without in-
terest coupons attached thereto, and the principal thereof to be paid
thirty years after date thereof, but the said school board shall have
the right to redeem at par and accrued interest one-sixth of said
bonds at the end of each five year period from the dates thereof by
giving thirty days written notice to the holder or holders thereof at
the place of payment.

Section 4. Said bonds shall be signed with the name of said school
board by its chairman ‘and its corporate seal thereto afhxed and at-
tested by its clerk, and the coupons shall be signed with the name
of said school board by its chairman, and attested by its clerk, but
the name of said school board, its corporate seal, and the fac simile
signatures of its chairman and clerk may be engraved or printed on
said bonds and coupons if so authorized by said school board.

Section 5. Said bonds and coupons shall be in such form as may
by resolution be prescribed by said school board, and made payable
to some designated person or to bearer, and at such place or places
as said school board may likewise by resolution prescribe and direct,
and.may be registered as to principal.

Section 6. The said bonds shall be in denomination of one hun-
dred dollars or multiples thereof, and in making sale of same in
accordance with the provisions of this act, such bonds shall in no
event be sold for less than par and accrued interest.

Section 7. The bonds authorized by the act shall not be issued
unless and until the board of supervisors of Nottoway county has
by appropriate action approved and authorized the issue of the same.

Section 8. The board of supervisors shall annually levy a special
tax on all the property in such district subject to taxation for district
school purposes sufficient to pay the interest on the bonds issued
under authority of this act, and to create a sinking fund of not less
than two per centum per annum for the payment of the principal at
maturity. Such sinking fund shall be used in the retirement of the
bonds authorized, or invested in said bonds, or invested in such other
securities as the said school board may, with the approval of the
division superintendent of schools for said county, select. ,

Section 9. The said school board shall annually report to the
board of supervisors of the county of Nottoway the amount of the
debt evidenced by said bonds outstanding, and the amount and com
dition of the sinking fund.

_ section 10. An emergency existing, this act shall be in force from
its passage.