Chap. 149.—An ACT to authorize the mayor and council of the town of Bowling
Green, in this State, to issue and sell bonds for the construction and mainte-
nance of a water system in said town. [H B 152]

Approved March 20, 1930

1. Be it enacted by the general assembly of Virginia, Vhat the
mayor and the council of the town of Bowling Green, Virginia, in the
county of Caroline, be, and they are hereby, authorized and empowered
to issue and sell bonds of the said town in an amount not to exceed
forty thousand dollars for the purpose of constructing and maintaining
a water system within the corporate limits of said town, and to meet
such expenses in construction therewith as may be determined upon by
said mayor and council.

2. The bonds authorized by this act shall be coupon, or registered,
bonds and shall be issued in such denominations as the mayor and
council may prescribe; they shall bear interest at the rate not exceed-
ing six per centum per annum, payable at such times and places as the
said mayor and council may prescribe; they shall be made to mature at
the end of thirty years from their date, but redeemable after fifteen
years at the option of the mayor and council at any time; and they shall
be signed by the mayor and countersigned by the clerk of said council
for and in behalf of the said town of Bowling Green. But the said
mayor and council shall not proceed to issue the said bonds until the
question of whether or not the said bonds shall be so issued and sold
for the purpose named shall first be submitted to the qualified voters
of said town, who are freeholders therein, at a special election to be
called by the council for that purpose, which said special election shall
be called by proper ordinance, and in all other respects to be conducted
under the general laws governing special elections. The ordinance call-
ing said special election shall recite the total amount of bonds proposed
to be issued, the rate of interest they shall bear and the number of years
for which issued, and said ordinance shall provide that such election
is to be held in order that the qualified voters of said town, who are
freeholders therein, may vote as to whether or not there shall be an
issue of bonds for the purpose named. ‘The ballot shall be so arranged
as to permit the voter to vote for or against the bond issue. If, at the
election so called, a majority of those qualified to vote thereon, should
cast their ballots in favor of the issue of said bonds, then the council
shall proceed to issue and sell the same as herein provided. The said
council shall prescribe the manner of sale and the terms upon which
the bonds shall be sold. It shall provide by proper tax levy or appro-
priation for the payment of interest on same and the creation of a
sinking fund to retire said bonds at maturity. Provided that such levy
shall not be in conflict with the general law.