Chap. 93.—An ACT to authorize the school boards of the Waynesboro school
district and of the Basic City school district in Augusta county to borrow
money jointly to pay the balance of the indebtedness contracted in the com-
pletion and equipment of the new consolidated high school building, to refund
certain district school warrants issued and now outstanding, and to procure
funds with which to build and equip a school building for the colonel en

children.
Approved March 4, 1924.

Whereas, the towns of Basic City and Waynesboro, in Augusta
county were, prior to August seventh, nineteen hundred and twenty-
three, and still are, separate school districts although the said towns
as such were, pursuant to law, consolidated into one municipality; and,

Whereas, the separate high schools conducted in each of the said
school districts under the joint action of the respective school boards
were consolidated into one high school to serve both of the said school
districts; and,

Whereas, in completing and equipping the new consolidated high
school building, it was found necessary and imperative to issue short
time warrants and contract other indebtedness in order to equip and
complete said new ‘high school building, all of which it is desirable to
finance by issuing bonds; and,

Whereas, funds should be provided for the building and equipping
of a building for the colored school children; now, therefore,

1. Be it enacted by the general assembly of Virginia, That the
school boards of the town of Waynesboro-Basic in Augusta county,
known before consolidation and now as the school board of the town
of Basic City, and the school board of the town of Waynesboro be, and
they are hereby authorized and empowered to borrow by joint action
the sum not to exceed twenty-five thousand ($25,000.00) dollars of
which sixteen thousand dollars ($16,000.00) shall be ysed in. payin
off the present indebtedness incurred in and about the completion and
equipment of the new consolidated high school building, and the balance
thereof shall be used for the purpose of building and equipping a school
building for the colored school children of the said town.

2. That the money so borrowed shall be evidenced by the joint
bonds of the respective school boards, issued immediately or from time
to time in such denominations, either coupon or registered, as said
boards may determine, bearing interest at a rate not exceeding six per
ccentum per annum, payable semi-annually, and they shall be payable
at such time or times as the boards may prescribe, not to exceed, how-
ever, fifteen years from date of issue. The said bonds shall be signed
by the chairman of each of the said boards, and shall be. attested by
the clerks thereof, and shall not be sold at less than par value. The
school property of the respective school districts shall be pledged for
the payment of the principal and interest of such bonds according to
the tenor and date thereof.

3. That the council of the town of Waynesboro-Basic shall annually
fix and order a special levy on all of the property of the persons, firms
and corporations of the said town subject to the levy for such purposes,
of such amount as will be necessary and sufficient to pay interest on
the said bonds and the principal thereof when and as the same mature,
become due and payable.

4. Anemergency existing, this act shall be in force from its passage.

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Chap. 93. An ACT to amend and re-enact an act entitled an act to authorize
the city of Hopewell to borrow money and issue bonds therefor for permanent
improvements in said city, approved March 29, 1923. [fH B 101]

Approved March 4, 1924.

1. Be it enacted by the general assembly of Virginia, That an act
entitled an act to authorize the city of Hopewell to borrow money and
issue bonds therefor for permanent improvements in said city, approved
March twenty-ninth, nineteen hundred and twenty-three, be amended
and re-enacted to read as follows:

Section 1. The city of Hopewell is hereby authorized to borrow
money and issue bonds within the limitations prescribed by section
one hundred and twenty-seven of the Constitution.

Section 2. That such bonds shall be issued for permanent improve-
ments only within the said city in such series as the council of the city
may determine. And the said council is hereby authorized to fix and
establish the form and denomination of the said bonds, and to provide
when the same and interest thereon shall become payable; provided,
however, that all of said bonds shall be made to mature in not exceeding
thirty-five years from the date of their issue. The said council may
borrow money and issue such bonds for such permanent improvements
as it may, from time to time, determine.

Section 3. That the faith, credit and property of the said city shall
stand pledged as security for the payment of the principal and interest
of all bonds issued pursuant to this act.

Section 4. That before the issuance of such bonds, notice of the
proposed issue and the purpose or purposes to which the proceeds of
any issue or issues of bonds shall be applied, shall be published once a
week for two consecutive weeks in some newspaper having a general
circulation in said city. The ordinance authorizing the issue of such
bonds shall set forth the purpose or purposes to which the proceeds
are to be applied and shall be adopted by a majority of the entire
membership of each branch of the council and approved by the mayor;
provided, however, that if the mayor declines to approve any such
ordinance and shall veto the same, such bonds may be issued, notwith-
standing such veto, by a unanimous vote of all the members of both the
board of aldermen and common council. !

Section 5. That such bonds shall be signed by the mayor and by
the city treasurer. That:no bonds authorized and issued under this
act shall be sold for less than par, nor shall they bear interest at a rate
exceeding six per centum per annum.

No bonds shall be issued under the terms of this act by said city
subsequent to January first, nineteen hundred and twenty-six.

Section 6. All acts or parts of acts in conflict with this act are
hereby repealed.

2. An emergency is hereby declared to exist, and this act shall be
in force from its passage.