Chap. 473.—An ACT to authorize the board of supervisors of Lee county to
issue bonds of said county on behalf of the Yokum Station magisterial
district thereof, for a sum not exceeding fifty thousand dollars ($50,000.00)
for the purpose of providing funds to macadamize and otherwise perma-
nently improve a certain road of said district, known as the Keokee road,
leading from the Wise county line on top of Dividing Ridge, to the town
of Keokee, a distance of approximately three and one-half (3%) miles,
and such additional distance beyond and west of Keokee leading to the
Lower Crab Orchard country, as can be permanently improved out of
such funds; and to levy taxes to pay the interest therton, and to create
a sinking fund for the payment of principal of said bonds at maturity.

[S B 424]
Approved March 27, 1922.

Whereas, the members of the board of supervisors of Lee county
have expressed a desire that said board be authorized by the general
assembly of Virginia to issue and sell bonds of said county on behalf
of the Yokum Station magisterial district thereof, to an amount not
exceeding fifty thousand dollars ($50,000.00) for the purpose of mac-
adamizing and otherwise permanently improving a portion of a public
road of said district, known as the Keokee road, for the reason that
there are not and will not within a reasonable time be available funds
of said district for such improvement, for the reason that such road
is in such deplorable condition, although it is a road of great import-
ance to the citizens of said district, connecting the same with an ex-
cellent macadamized road leading to the State highway, and the early
completion thereof is demanded; therefore,

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Lee county, on a petition in writing of one
hundred freeholders of said district, be and it is hereby authorized
and empowered, in its discretion, to proceed immediately, or from
time to time, as it may deem expedient, to issue bonds for and on
behalf of the Yokum Station magisterial district of said county, not
to exceed the sum of fifty thousand dollars ($50,000.00), for the pur-
pose of providing funds to macadamize and otherwise permanently
improve that portion of the public road.in said district in the north-
ern part thereof, known as the Keokee road, from the Wise county
line on top of Dividing Ridge, to the town of Keokee, a distance of
approximately three and one-half (314) miles, and to permanently
improve so much more of said road beyond and to the west of the
town of Keokee as can be reasonably improved with such funds after
the macadamizing and permanent improvement of the section of said
road aforesaid. Such bonds shall be signed by the chairman. of said
board of supervisors and countersigned by the clerk thereof under
seal of the said board; shall be payable or redeemable at such time or
times, not exceeding thirty (30) years from the date of issue, and
to bear interest payable at such times and at such rate, not exceeding
six (6) per centum per annum, and to be in such denominations, and
either coupon or registered, as the said board may determine. There
shall be printed on the face of said bonds the following: “These
bonds are issued for road improvement in the Yokum Station magis-
terial district of Lee county, but the full faith and credit of Lee
county is pledged for the payment of the interest thereon and the
principal thereof at maturity.” The sale of such bonds may be con-
ducted and effected in such manner as the said board may determine ;
provided, they shall not be sold for less than their par value.

2. The said board of supervisors shall annually levy a tax upon
all the property within the said magisterial district subject to tax-
ation for such purpose, at a rate not in conflict with general law
including such property located, or the situs whereof for taxation
may be, within the limits of the incorporated towns of said district,
at such rate as will be sufficient to pay the interest on said bonds,
and to create a sinking fund for the payment of the principal thereof
at maturity.

3. By reason of the fact that the public interest requires that
said road work be commenced as soon as possible, an emergency
is hereby declared to exist, and this act shall be in force from its
passage.