Chap. 34.—An ACT to clarify and define the powers of the council of the city of
Martinsville, in relation to the issuance of funding, or refunding bonds of said

- city generally, and particularly as to the issuance of its long term bonds for the
purpose of funding, refunding or redeeming certain short term obligations for
which said city is liable, for indebtedness incurred by the town of Martinsville
prior to June nineteenth, nineteen hundred and twenty-eight. [H B 42|

Approved February 20, 1932

Whereas, a doubt has arisen as to the authority of the council of
the city of Martinsville, under the provisions of section thirty hundred
and ninety-a, of the Code of Virginia, to issue funding or refunding
bonds of said city, generally, and particularly, as to the authority of
said council to issue long term bonds of said city, for the purpose o!
funding, refunding or redeeming the short term obligations for whic
said ¢ity is liable and which were issued for indebtedness incurred by
the town of Martinsville, by the authority of the council of said town
prior to June nineteenth, nineteen hundred and twenty-eight, now
therefore,
1. Be it enacted by the general assembly of Virginia, That the
council of the city of Martinsville be, and said council is hereby, in-
vested with the power and authority to fund, or refund, and retire its
outstanding bonds as prescribed by section thirty hundred and ninety-a
of the Code of Virginia, and to fund, refund, or redeem, the short
term obligations for which said city is liable, whatever their form,
which may have been issued for mdebtedness incurred by the town
of Martinsville, by the authority of the council of said town, prior to
June nineteenth, nineteen hundred and twenty-eight, or bonds issued
according to law to refund the same, by the issuance of long term
bonds of said city in accordance with the provisions of said section
thirty hundred and ninety-a; and nothing in the charter of said city or
town or in any special act, relating thereto, or in the general laws of
the State, shall be construed to prevent said council from exercising
the powers conferred by this act.

2. This act shall not affect, however, the limitations imposed by
law upon the amount of indebtedness of said city which may be out-
standing at any one time.

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