Chap. 280.—An ACT to authorize the city school board of the city of South
Norfolk to borrow money not in excess of $150,000.00, and to issue its bonds
therefor, to be used for the construction of a high school for white children
in the city of South Norfolk, and to require the council of said city, annually
to levy taxes to pay the interest thereon, and to create a sinking fund to re-
deem the principal thereof at maturity. [H B 219]

Approved March 21, 1928

1. Be it enacted by the general assembly of Virginia, That the
-hool board of the city of South Norfolk be, and it is hereby,
ithorized to borrow, from time to time, sums of money not exceeding
1e hundred and fifty thousand dollars in the aggregate, and from
time to time to issue its bonds therefor, the said bonds to be issued in
such denominations and to be payable at such time or times, not ex-
ceeding thirty years from the date thereof, as the said board may pro-
vide. Said bonds shall bear interest at not exceeding six per centum
per annum, and shall not be sold for less than par.

2. The bonds issued by the said school board in pursuance of this
act shall be under the seal of the school board and signed by the
chairman and countersigned by the clerk of the school board, and the
proceeds shall be used for the construction of a high school for white
pupils on the lot now owned by the city of South Norfolk at the
intersection of Holly and Decature streets in said city of South Nor-
folk. The bonds authorized by this act shall constitute the general
obligations of the city of South Norfolk and shall be a lien on all the
public school property in the said city. The high school building herein
provided for, shall be erected in accordance with the plans and speci-
fications of the South Norfolk school board, after such plans and
specifications have been approved by the State board of education,
but no purchaser shall be required to see to the application of the
purchase money of said bonds. The bonds authorized by this act
shall be sold by the city school board and the proceeds expended by
said board for the purpose authorized by this act, but no loan or
debt shall be contracted, or bond or bonds issued until such loan, bond
or bonds have first been approved by the council of the city of South
Norfolk.

3. After the issuance of the bonds provided for in this act, the
council of the city of South Norfolk shall, annually levy a special tax
on all the property subject to local school taxation in the said city
sufficient to pay the interest on the said bonds, and to create a sinking
fund to redeem the principal’ thereof at maturity.

4. Before making sale of any of the bonds authorized to be issued
by this act, the said school board of the city of South Norfolk shall
advertise for bids for the purchase of the same for once a week for
four weeks in one or more newspapers having general circulation in
the cities of South Norfolk, Norfolk or Portsmouth, one or all, which
advertisement shall describe the bonds proposed to be sold by stating
the number and amount or time of redemption, and all bids shall be
sealed, addressed and delivered to the chairman of the school board
and opened by the chairman in the presence of the school board and
the members of the council of the city of South Norfolk, with the
right in the said school board to reject any and all bids.

5. An emergency existing, this act shall be in force from its passage.