CHAPTER 302

AN ACT to amend and reenact § 22-175 of the Code of 1950 relating
to bond issues for construction of public school buildings.
[H 474]

Approved April 4, 1950

Be it enacted by the General Assembly of Virginia:

l. That § 22-175 of the Code of 1950 be amended and reenacted
a3 follows:

§ 22-175. Sale of bonds.—The bonds shall be sold at public
sale upon sealed proposals, to the highest bidder at not less than
par and accrued interest to date of delivery. Notice of such sale
shall be given by publication, in such papers as the county school
board shall direct, not less than ten days prior to the date fixed
for such sale. The notice of sale may specify the rate of interest
the bonds shall bear, not exceeding six per centum per annum, or
may require bidders to specify the rate of interest such bonds shall
bear, not exceeding six per centum per annum, expressed in multi-
ples or * fractions or percentages of one per centum per annum,
such interest to be payable semiannually.