CHAPTER 177
AN ACT to establish a Stute Commission On Local Debt, define its
powers and duties, and to provide for the payment of its er-
penses.
[S 126]
Approved March 14, 1950 —

Be it enacted by the General Assembly of Virginia:

1. There is hereby created a State Commission on Local Debt,
hereinafter called “Commission”, composed of the Auditor of Public
Accounts, the State Treasurer, the State Tax Commissioner, and
two other members to be appointed by the Governor for terms of
four years. Vacancies shall be filled for the unexpired term. The
members appointed by the Governor shall receive a per diem of ten
dollars a day for each day spent on business of the Commission.
All members shall receive their necessary expenses incurred in
performing their duties as members of the Commission. The office
of the Auditor of Public Accounts shall furnish necessary clerical
and secretarial assistance to the Commission.

2. Upon the request of the governing body of any political sub-
division of the State, the Commission shall advise the political
subdivision on all matters related to the planning, preparation and
marketing of bonds proposed to be issued by the political sub-
division for any indebtedness to be incurred by it, any part of
which is not to be paid within a vear. Upon request, the Commis-
sion shall also assist the political subdivision in the sale of such
bonds.