Chap. 372.—An ACT to require bonds issued by any county or magisterial district
in this State after January 1, 1937, to be made payable in certain install-
ments. [H B 390)

Approved March 28, 1936

1. Be it enacted by the General Assembly of Virginia, That all
bonds issued by any county or magisterial district in this State, on and
after January first, nineteen hundred and thirty-seven, shall be issued
to mature in annual or semi-annual installments, the last installment
of which shall be payable not more than thirty years from the date of
such bonds. At least four per centum of the principal amount of each
issue shall, beginning not later than five years after date of issue, be
payable annually together with all due interest. The provisions of
this act shall apply to renewals and extensions of all bonds issued
after January first, nineteen hundred and thirty-seven and to all bonds
issued to refund any unretired portion of such bonds, but shall not
apply to renewals or extensions of any such bonds issued prior to
January first, nineteen hundred and thirty-seven or to any such bonds
issued for the purpose of refunding any bonds issued prior to said

ate.

Acts authorizing counties and districts to issue bonds shall be con-
strued to authorize the issuance of such bonds in accordance with the
provisions of this act.