Chap. 472.—An ACT to authorize and empower the board of supervisors of
Halifax county to borrow $60,000 and to issue notes therefor, for the pur-

‘ pose of paying off the indebtedness existing against the county road fund
and the general county fund of said county; and to repeal an act entitled

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, approved February 17, 1922. [S B 471]

Approved March 27, 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:

Section 1. The board of supervisors of Halifax county is hereby
authorized and empowered to borrow a sum not exceeding sixty
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.

2. An act entitled an act to authorize and empower the board of
supervisors of Halifax county to borrow forty thousand dollars 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, approved February seventeenth, nineteen hundred and
twenty-two, is hereby repealed.

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

passage.