Chap. 288.—An ACT to authorize the city of Fredericksburg, Virginia, to
horrow a sum of money not to exceed one hundred thousand ($100,000.00)
dollars, and issue bonds therefor, to cover the cost of improvements and
additions to the water system of said city. [S B 242]

Approved March 24, 1926.

1. Be it enacted by the general assembly of Virginia, That the
mayor and common council of the city of Fredericksburg be, and they
are hereby authorized, to issue bonds of said city to an amount not
exceeding one hundred thousand ($100,000.00) dollars, bearing interest
not to exceed six per centum (6%) per annum, and payable at such
time or times as the said council may by resolution direct, not to ex-
ceed a maturity date of thirty (30) years from issue. The said bonds
shall be registered or coupon bonds as the council may determine, and
the council shall further have the power to determine whether they
shall be sinking fund or serial bonds. Said bonds shall be sold at not
less than par.

The said council shall use the proceeds from the sale of any bonds
issued hereunder, for the sale and exclusive purpose of making and
constructing such improvements and additions to the existing water
supply and water system of the city, as may to the council seem
necessary.