Chap. 358.—An ACT to authorize and empower the board of supervisors of the
county of Carroll to borrow money, not in excess of $75,000.00, and to issue
bonds of the county therefor, for the purpose of surveying, constructing, re-
pairing and improving certain roads and bridges, for Laurel Fork magisterial
district of said county, and to provide for the payment of the interest on
such bonds and to create a sinking fund to redeem the principal thereof at
maturity. [S B 395]

Approved March 21, 1928

1. Be it enacted by the general assembly of Virginia, That the
board of supervisors of Carroll county be, and they are hereby autho-
rized and empowered to borrow a sum of money, not exceeding seventy-
five thousand dollars, and to issue bonds of said county therefor, the
said bonds to be issued in such denominations and to be payable at
such time or times, not exceeding thirty years from the date thereof,
as the said board may provide; they shall bear interest at not exceed-
ing six per centum per annum, and shall not be sold for less than par.

2. The bonds issued by the said board of supervisors in pursuance
of this act shall be signed by the chairman and countersigned by the
clerk thereof, and the seal of the board affixed thereto; said bonds shall
be issued in serial numbers and shall be payable to the bearer at the
office of the treasurer of Carroll county. The board of supervisors
shall cause to be printed on each bond: “Issued for Laurel Fork
magisterial district.” When issued, such bonds shall be delivered to
the treasurer of the county of Carroll, and when sold he shall deliver
them to the purchaser or purchasers. The full faith and credit of
the county of Carroll is hereby pledged for the payment of the prin-
cipal and interest of said bonds.

3. All monies realized from the sale of such bonds shall be received
by the treasurer of Carroll county, and shall be kept by him separate
and apart from any other money that may come into his hands as such
treasurer, and he shall receive for collecting and disbursing the funds
coming into his hands hereunder, an amount to be fixed by the board
of supervisors, not to exceed one per centum of the amount coming
into his hands.

4. The proceeds derived from the bonds issued hereunde? shall be
used by the county road board, in conjunction with the county road
engineer, for the construction, repair and improvement of such roads
in Laurel Fork magisterial district of said county, as the board of
supervisors of said county may designate.

5. After the issuance of the bonds provided for in this act, the
board of supervisors of Carroll county are authorized to annually levy
a special tax on all the property subject to local taxation for road pur-
poses, in said Laurel Fork magisterial district, including such property
located in any incorporated towns wholly or partly in said district,
sufficient to pay the interest on said bonds and to redeem the principal
thereof at maturity.

6. The supervisor of Laurel Fork magisterial district shall be
allowed five dollars per diem when engaged in having the work done
in his district hereunder, to be paid out of the fund authorized by this
act.

7. This act shall not be construed as mandatory upon the said
board of supervisors in requiring them to issue the bonds herein men-
tioned, but is left to their judgment and discretion, but if said bonds
are issued as herein authorized, then this act shall be construed as
mandatory as to the expenditures of the money derived from the sale
of said bonds.

8. The purchaser or purchasers of the said bonds authorized herein
to be issued by the board of supervisors of the said county of Carroll,
for Laurel Fork magisterial district, shall in no event be required to
see to the application of the purchase money of said bonds.

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