CHAPTER 260

An Act to authorize the school board of certain counties to borrow a cer-
tain sum of money for school purposes. rH 598)

Approved March 18, 1954
Be it enacted by the General Assembly of Virginia:

1. § 1. The school board of any county with a population of more than
six thousand four hundred but less than six thousand five hundred, with
the approval of the Board of Supervisors thereof, is hereby authorized to
borrow a sum, not to exceed ninety thousand dollars, and to use said
funds for the purpose of repaying all outstanding temporary loans made
for the operation of schools in the county and to operate the public
schools for the fiscal year ending June thirty, nineteen fifty-four. Pro-
vided, however, that such loans, if authorized, must be made for a period
not to exceed fifteen years, the right to anticipate in whole or in part
shall be reserved and provision shall be made for annual payments of
principal and interest.
An emergency exists and this act is in force from its passage.