Chap. 33.—An ACT to authorize the city of Newport News to issue bonds to the
maximum amount of $200,000.00, to be used for the following purposes :
$60,000.00 for purchasing land and building to be used as a city hall and
making improvements thercto; $30,000.00 for the purchase of lots for the
erection of a building for use as city shops and yard; $15,000.00 for per-
manent improvements to Huntington Park; $25,000.00 for the construction
and improvements to the municipal boat harbor of said city; and $70,000.00
for street improvements. [H B 32]

Approved February 17, 1926.

1. Be it enacted by the general assembly of Virginia, That in
addition to any other indebtedness of the city of Newport News and
the certificates of debt or bonds which the said city has, from time to
time issued, the council of said city may, by four-fifths vote thereof,
in the name of and for the use of said city, cause to be issued bonds
or certificates of indebtedness (the form of which shall be prescribed
by the council) to the amount of two hundred thousand dollars ($200,-
000.00), bearing interest at a rate not exceeding six per centum per
annum, and payable in the discretion of the council in not more than
thirty (30) years, which said bonds may be sinking fund or serial
bonds as the council may determine, but the said bonds shall not be
sold upon a basis which will cost the municipality more than six per
centum interest per annum. Of this sum, sixty thousand dollars
($60,000.00) shall be used for the purpose of paying the purchase price
of land and building to be used as a city hall and making necessary
improvements thereto; thirty thousand dollars ($30,000.00) for the
purpose of providing funds with which to purchase land and construct
thereon necessary buildings for use as city shops and yard; fifteen
thousand dollars ($15,000.00) for permanent improvements to Hunt-
ington Park; twenty-five thousand dollars ($25,000.00) for improve-
ments to the municipal boat harbor of said city; and seventy thousand
dollars ($70,000.00) shall be used for the purpose of paving and im-
proving streets in the city.

2. While said bonds or any of them remain outstanding the coun-
cil of said city shall levy annually a tax upon all real and personal
propety in said city sufficient to pay the interest on said bonds and
to create a sinking fund for the payment of the principal at maturity.

3. In that the land and buildings now occupied by the city as a
city hall and for shops and yards, are held under leases, which have
expired, or are about to expire, an emergency is declared, and this
act shall be in force from its passage.