Chap. 92.—An ACT to authorize and empower the district road board of Ashby
magisterial district of Shenandoah county to borrow a sum of money not
exceeding $7,000.00, and to issue notes of the board therefor, for the purpose
of paying the existing road indebtedness of. and to do necessary road work
in, said Ashby magisterial district in said county. {[H B 70]

Approved March 5, 1928

1. Be it enacted by the general assembly of Virginia, That
the road board of Ashby magisterial district, Shenandoah county
be, and it is hereby, authorized and empowered, in its discretion,
to borrow a sum of money not exceeding seven thousand dollars
for Ashby magisterial district, in the said county of Shenandoah,
the proceeds of said loan to be used for the purpose of paying
present road indebtedness, and do further road work in said Ashby
nagisterial district.

2. The said loan shall he effected, by issuing notes of said dis-
trict, signed by the supervisor and road commissioner, who con-
stitute the road board of said district, as now provided by law, in
denominations of one thousand dollars, payable in, and not ex-
ceeding seven years after the date thereof, at a rate of interest not
exceeding six per centum per annum; provided, howéver, that
any or all of the notes shall, by the terms thereof, be made redeem-
able, at the discretion of said road board, at any time after the
expiration of one vear from the date of issue.

3. After the issuance of the notes herein provided for, the road
board of Ashby magisterial district shall have authority to provide
for the payment of the interest and principal of said notes, out of
the revenues of the district for road purposes. The board of super-
visors of Shenandoah county shall have authority, in its discretion
to annually levy a special tax not in excess of the rate provided
by law, on all property subject to local taxation for district road
purposes in Ashby magisterial district in said county to pay the
interest on the notes so issued and to create a sinking fund to re-
deem the principal thereof at maturity.

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