Chap. 374.—An ACT to amend and re-enact sections 2 and 5 of an act entitled
an act to authorize and empower the State Board of Education to waive or
modify certain statutory limitations and restrictions on making loans from the
literary fund to county and city school boards, and to confer on the State
Board of Education discretionary powers in lending money from the literary
fund to school boards, for the purpose of enabling school boards to meet, to
comply with and take advantage of the provisions of an act of the Congress
of the United States, known as the National Industrial Recovery Act, ap-
proved June 16, 1933, approved September 13, 1933, as amended by an act
approved February 20, 1934. [H B 476]

Approved March 28, 1936

1. Be it enacted by the General Assembly of Virginia, That sec-
tions two and five of an act entitled an act to authorize and empower
the State Board of Education to waive or modify certain statutory
limitations and restrictions on making loans from the literary fund to
county and city school boards, and to confer on the State Board of
Education discretionary powers in lending money from the literary
fund to school boards, for the purpose of enabling school boards to
meet, to comply with and to take advantage of the provisions of an
act of the Congress of the United States, known as the National
Industrial Recovery Act, approved June sixteenth, nineteen hundred
and thirty-three, approved September thirteenth, nineteen hundred
and thirty-three, as amended by an act approved February twentieth,
nineteen hundred and thirty-four, be amended and re-enacted so as to
read as follows:

Section 2, The State Board of Education, may in its discretion,
waive or modify the provisions of section six hundred and forty-two
of the Code of Virginia as follows: it may increase the ratio of loan
to total cost from two-thirds cost of the schoolhouse and addition
thereto, to such an amount as the State Board of Education in its
discretion may deem wise; it may increase the amount of loan from
twenty-five thousand dollars on any one project to fifty thousand
dollars; provided, however, that on and after July first, nineteen hun-
dred and thirty-four, no such loan shall exceed the sum of twenty-five
thousand dollars, unless it be a loan applied for, and approved by the
State Board of Education, prior to that date, or unless the State
Board of Education, in its discretion, deems it proper to supplement
a loan applied for prior to that date in order to effect properly the
general purposes of the project for which such original application
was made.

Section 5. The powers conferred upon the State Board of Educa-
tion by the provisions of this act shall cease to exist on the thirty-
first day of December, nineteen hundred and thirty-six.

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