Chap. 24.—An ACT to authorize boards of supervisors and other governing bodies
of counties, councils and other governing bodies of cities, and school boards of
counties and cities, to invest sinking funds in direct obligations of, and in
bonds and securities guaranteed by the United States. [H B 36]

Approved February 16, 1934

1. Be it enacted by the General Assembly of Virginia, That author-
ity is hereby conferred upon the boards of supervisors or other govern-

ing bodies of the counties, the councils or other governing bodies of the
cities and towns, and the school boards of the counties, towns anc
cities, of this Commonwealth, to invest sinking funds in their hands o1
under their control, respectively, in direct obligations of the United
States government or in other bonds and/or securities, the payment of
which are guaranteed both as to principal and interest by the govern-
ment of the United States, to such extent as any such body so investing
the same shall deem proper or expedient.