An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1942 |
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Law Number | 30 |
Subjects |
Law Body
Chap. 30.—An ACT to amend and re-enact Section 643, as heretofore amended, of
the Code of Virginia, relating to loans to county and city and town school
boards from the literary fund, so as to reduce the interest rate on such loans.
[S B 59]
Approved February 17, 1942
1. Be it enacted by the General Assembly of Virginia, That section
six hundred and forty-three of the Code of Virginia, as heretofore
amended, be amended and re-enacted, as follows:
Section 643. Rate of interest on loans; payment in instalments;
evidence of debt.—All loans whether made before or after July first,
nineteen hundred and forty-two shall bear interest at the rate of three
per centum per annum, payable semi-annually. The principal thereot
shall be payable in annual installments from five to thirty years with right
of anticipation to be extended in the discretion of the State Board of
Education, and shall be evidenced by bonds or notes payable to the Com-
monwealth of Virginia, for the benefit of the literary fund, executed or
signed by the chairman of the county or city or town school board and
attested by the clerk thereof.
Payments of interest and principal shall be made to the State Treas-
urer, and evidence of debt taken for such loans shall be deposited with
the State Treasurer and kept by him. _