Chap. 214.—An ACT to authorize the town of Orange to issue bonds in the
amount of $200,000.00 to refund all outstanding bonds heretofore issued for
the purpose of providing a revenue producing water system in said town, not
exceeding the sum of $50,000.00, and providing $150,000.00 to be used for
providing sewerage and enlarging the revenue producing water system of said
town. [H B 336]

Approved March 22, 1930

Whereas, the town of Orange has at the present time outstanding
bonds in an approximate amount of fifty thousand dollars heretofore
issued for the purpose of providing a revenue producing water sys-
tein for said town, which bonds will be callable during the year nine-
teen hundred and thirty; and,

Whereas, as imperative need exists for repairing and enlarging said
revenue producing water system and for providing a sewerage system
for said town; now, therefore,

1. Be it enacted by the general assembly of Virginia, That the town
of Orange, Virginia, be authorized and empowered to borrow money
not to exceed the sum of two hundred thousand dollars. The said
bonds shall be issued in accordance with the provisions of chapter one
hundred and twenty-two of the Virginia Code of nineteen hundred and
twenty-four, and any amendments thereto.

Out of the proceeds of said bonds issued an amount not exceeding
fifty thousand dollars shall be applied to the redemption and refunding
of the present existing bonds of the said town of Orange, issued for
the purpose of providing the present revenue producing water system
owned and operated by the said town, and the residue of one hundred
and fifty thousand dollars or so much thereof as may be necessary
shall be used for the purpose of providing a sewerage for the town
of Orange and of enlarging and repairing its present water system.
The proportion shall be applied to each of said last mentioned objects
as may be determined by the council of said town. ‘The bonds issued
for the purpose of paying or refunding the existing and outstanding
bonds heretofore issued for the purpose of providing a revenue pro-
ducing water system for the said town shall have plainly printed on
their face that they have been issued for such purpose; all bonds issued
for the purpose of providing sewerage for said town shall have this
fact plainly printed on the face thereof; and all bonds issued for the
purpose of enlarging and repairing the present revenue producing water
system of said town shall have this fact plainly printed on their face.
2. Said town of Orange shall provide for the payment of accruing
interest on said bonds or so many thereof as may be issued and sold
and also for the payment of the principal of said bonds by creating each
year a sinking fund for such purpose.

3. All of the powers and duties conferred or imposed upon munic!-
pal councils by chapter one hundred and twenty-two of the Virginia
Code of nineteen hundred and twenty-four are hereby conferred and
imposed on the trustees of the town of Orange, who together with the
mayor of said town are hereby declared to be the council of said town.

4. All acts or parts of acts in conflict with this act are hereby ex-
pressly repealed.

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