Chap. 15.—An ACT to authorize the city of ean to issue bonds for

Approved February 13, 1930.

1. Be it enacted by the general assembly of Virginia, That the
mayor and common council of the city of Fredericksburg, Virginia,
be, and they are hereby, authorized to issue and sell bonds of said
city to an amount not to exceed fifty thousand dollars, bearing interest
not to exceed six per centum per annum, and payable at such time or
times as the said council may by resolution direct, not to exceed a
maturity of twenty years from issue. The said bonds shall be registered
or coupon bonds, as the council may determine, and the council shall
further have the power to determine whether they shall be sinking
fund or serial bonds. Said bonds shall be sold at not less than par.

2. The said council shall use the proceeds from the sale of said
bonds issued hereunder for the sole and exclusive purpose of making
such general improvements to water, gas, sewer, drainage and garbage
systems of the city of Fredericksburg as the council may deem necessary,
but the purchasers of the said bonds shall not be required to see to
the application of the purchase money.