Chap. 37.—An ACT authorizing the county school board of Norfolk county to
borrow money, not in excess of $250,000.00, and to issue its bonds therefor,
for school improvements in said county; and requiring the board of super-
visors of said county annually to levy a tax to pay the interest thereon, and
to create a sinking fund to redeem the principal thereof at maturity. [S B 171]

Approved February 18, 1924.

1. Be it enacted by the general assembly of Virginia, That the
county school board of Norfolk county is hereby authorized to borrow
asum of money not exceeding two hundred and fifty thousand dollars,
and to issue its bonds therefor, the said bonds to be issued in such denomi-
nations and to be payable at such time or times, not exceeding twenty
years from the date thereof, as the said board may provide; they 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 school board in pursuance of this
act shall be signed by the chairman and countersigned by the clerk
thereof. The proceeds shall be used for school improvements in said
county. The said bonds shall be a lien on all the public school prop-
erty in said county.

After the issuance of the bonds provided for in this act, the board of
supervisors of Norfolk county shall annually levy a special tax on all
the property subject to local school taxation in said county sufficient
to pay the interest on the said bonds, and to create a sinking fund to
redeem the principal thereof at maturity.

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