Chap. 182.—An ACT authorizing the council of the town of Wakefield to borrow
not exceeding $50,000 and to issue bonds of the said town therefor for the
purpose of advancing the money to the State highway commission under the
provisions of an act approved March 21, 1924, entitled an act to amend and re-
enact an act entitled an act to anticipate by counties or otherwise the con-
struction of the State highway system, approved March 15, 1920, and to
provide for the payment of the interest on said bonds and the redemption
thereof at maturity. [S B 181]

Approved March 18, 1926.

1. Be it enacted by the general assembly of Virginia, That the
council of the town of Wakefield in the county of Sussex be, and it is
hereby, authorized to borrow money not in excess of the sum of fifty
thousand dollars, and to issue bonds of the said town therefor, for the
purpose of advancing the said money to the State highway commis-
sion under the provisions of an act approved March twenty-first,
nineteen hundred and twenty-four, entitled an act te amend and
re-enact an act entitled an act to anticipate by counties or otherwise
the construction of the State highway system, approved March fif-
teenth, nineteen hundred and twenty. Said bonds shall be issued in
such denominations and be payable at such time or times, not ex-
ceeding eight years from the date thereof, as the said council may
provide, they shall bear interest at not exceeding six per centum per
annum, and shall not be sold for less than par. Said bonds shall be
signed on behalf of the said town by the mayor and attested by the
clerk thereof, and may be negotiated and sold in such manner as the
council may prescribe.

After the issuance of the bonds provided for in this act the council
of the town of Wakefield shall annually levy a tax on all property in
the said town subject to local taxation, sufficient to pay the interest
on 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-
sage. .