Chap. 38. An ACT to amend and re-enact section 47 of chapter 473 of the
Acts of the General Assembly of 1924, entitled “An act to provide a new
charter for the city of Roanoke and to repeal the existing charter of said
city and the several acts amendatory thereof, and all other acts or parts
of acts inconsistent with this act, so far as they relate to the city of Roanoke,”
approved March 22, 1924, as heretofore amended. [S B 19}

Approved January 15, 1937

1. Be it enacted by the General Assembly of Virginia, That
section forty-seven of chapter four hundred and seventy-three of
the Acts of nineteen hundred and twenty-four, entitled “An act to
provide a new charter for the city of Roanoke, and to repeal the
existing charter of said city and the several acts amendatory thereof,
and all other acts or parts of acts inconsistent with this act, so far as
they relate to the city of Roanoke,’ approved March twenty-second,
nineteen hundred and twenty-four, as heretofore amended, be amended
and re-enacted to read as follows:

Section 47. Bond issues.—The council may, in the name and for
the use of the city, cause to be issued certificates of debts or bonds
for any one or more of the following purposes, namely: to provide for
parks and other recreational purposes, water supply, water works,
electric lights or other lighting system, suitable equipment against
fire, or for erecting or improving bridges, viaducts, school buildings,
jails, city halls, fire houses, libraries, and other public buildings,
incinerators, auditoriums, armories, airports and equipment and fur-
nishings for same; grading, paving, repaving, curbing, or otherwise
improving any one or more of the streets or alleys, or widening
existing ones; or for locating, instituting and maintaining sewers,
drains and culverts, or for any other permanent public improvement ;
or for funding or refunding existing indebtedness, provided that no
such certificates of debt or bonds, except such providing for the
purchase or acquisition of a supply of water to said city and its
inhabitants, or for other specific undertaking, from which said city
may derive a revenue, shall be issued except by ordinance adopted
by a majority of all members of the council and approved by the
affirmative vote of the majority of the freehold voters of the city
voting on the question at an election for such purpose to be called,
held and conducted in accordance with an ordinance adopted by the
council of the city of Roanoke providing for such elections and for
giving due publicity to the same, and also providing by whom and
how the ballots shall be prepared and return canvassed, and the result
certified; no such certificates of debt or bonds to provide for the
acquisition of a*supply of water to said city and its inhabitants, or for
other specific undertaking, from which the city may derive a revenue,
as provided in section one hundred and twenty-seven of the Constitution
of Virginia and chapter two hundred and seventeen of the Acts of
Assembly of nineteen hundred and thirty, shall be issued except
by ordinance adopted by a majority of all members of council and
approved by the affirmative vote of the majority of the qualified
voters of the city voting on the question at an election for such
purpose to be called, held and conducted in accordance with an ordin-
ance adopted by the council of the city of Roanoke providing for such
elections and for giving due publicity to the same, and also providing
by whom and how the ballots shall be prepared and return canvassed,
and the result certified; but such certificates of debt or bonds shall
not be irredeemable for a period greater than thirty-four years,
provided, further, that if a separate levy be made for school purposes,
then and in that event the school board of the city of Roanoke shall
semi-annually pay into the city treasury such amounts from said levy
as may be necessary to pay interest and sinking fund on and for all
outstanding bonds of the city of Roanoke which have been or may
hereafter be issued for school purposes, in the event that no special
levy should be made for school purposes, then the school board shall
render the city council a statement at the end of each month, showing
the collections and disbursements made by said board. And provided,
further, that in no case shall the aggregate debt of the city at any one
time exceed eighteen per centum of the assessed value of real estate
within the city limits, subject to taxation, as shown:by the last preceding
assessment for taxes, except where bonds are issued for a supply of
water to said city and its inhabitants, or for other specific undertaking,
from which the city of Roanoke may derive a revenue, as provided in
section one hundred and twenty-seven of the Constitution of Virginia
and chapter two hundred and seventeen of the Acts of the Assembly of
nineteen hundred and thirty.

Provided, further, that the said council shall not endorse the bonds
of any company whatsoever without the same authority.

Ail bonds issued under the provisions of this section shall be
signed by the president of council and the treasurer, and the seal of
the city shall be affixed and attested by the city clerk. The said bonds
shall be sold by resolution of the council and the proceeds used under
its direction. Every bond issued by the council shall state on its face
for what purpose or purposes it is issued, and the proceeds shall le
applied exclusively to the purpose or purposes for which such boncs
are issued.