Chap. 151.—An ACT to authorize the school board of Big Stone Gap school dis-
trict of the county of Wise to borrow money, not in excess of $100,000.00, and
to issue its bonds therefor, for the purpose of enlarging present school grounds
erecting and furnishing school bui dings, and retiring bonds heretofore issue
for school purposes. [H B 171]

Approved March 14, 1924.

1. Be it enacted by the general assembly of Virginia, That the
school board of Big Stone Gap school district in the county of Wise, be,
and it is hereby authorized and empowered to borrow a sum of money
not exceeding one hundred thousand dollars, and to issue its bonds
therefor, the said bonds to be issued in such denominations and to be
payable at such time or times, not exceeding thirty years from the
date thereof, as the said board may provide. The said bonds shall
bear interest at not exceeding six per centum per annum, and shall
not be sold for less than par. :

The bonds issued by the said district school board, in pursuance of
this act, shall be signed by the chairman and countersigned by the
clerk thereof. The proceeds derived from the sale of said bonds shall
be used for the purpose of enlarging public school grounds, erecting
and furnishing school buildings, and to retire school bonds heretofore
issued. The said bonds shall be a lien upon all the public school prop-
erty in the said school district. -

After the issuance of the bonds provided for in this act, the council
of the town of Big Stone Gap or board of supervisors of Wise county,
or both, shall annually levy a special tax on all the property subject to
local school taxation in said school district sufficient to pay the interest
on the said bonds, and to provide a sinking fund to redeem the principal
thereof at maturity.

2. An emergency existing, this act shall be in force from its pas-

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