Chap. 411.—An ACT to authorize the county school board of Accomac county,
Virginia, to issue bonds of the school district of Metompkin for the purpose
of funding the outstanding indebtedness of said school district and to
validate said outstanding indebtedness and the proceedings with respect to
of said bonds. [S B 497]

Approved March 24, 1926.

1. Be it enacted by the general assembly of Virginia, That the
county school board of Accomac county, Virginia, is hereby auth-
orized and empowered to issue the negotiable bonds of the school
district of Metompkin, in said county, in an amount not exceeding
forty-five thousand dollars, bearing interest at a rate not exceeding
five and one-half per centum per annum, and maturing serially within
not more than twenty-three years from their date, for the purpose of
funding and retiring a like amount of the outstanding indebtedness of
said school district evidenced by notes bearing interest at the rate
of six per centum per annum. The said county school board is
authorized and empowered to prescribe the form of said bonds and
any and all other details with respect to the issuance and delivery of
said bonds consistent with the provisions of this act.

2. That the said notes of said school district hereby authorized
to be funded and retired, and the bonds hereby authorized for that
purpose when issued, are hereby validated and declared to constitute
the legally valid and binding obligations of said school district, and
said county school board is hereby authorized and required to include
in its annual certification of taxes upon all of the taxable property in
said school district an amount sufficient to pay the principal and
interest of said bonds as the same become due, and the board of
supervisors of said county shall annually levy the tax so included in
such certification.
3. That all proceedings heretofore had by said county school
board, with respect to the sale of said bonds, at a price of not less than
par and accrued interest be, and the same are hereby, validated.

4. That an emergency existing, this act shall be in force from
and after its passage.