CHAPTER 29

An Act to amend and reenact § 22-175, as amended, of the Code of Virginia,
relating to the sale of school bonds. a6
[S 39]

Approved February 13, 1956

Be it enacted by the General Assembly of Virginia:

1. That § 22-175, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 22-175. 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
CHS. 29, 30, 31] ACTS OF ASSEMBLY 29

date fixed for such sale. The notice of sale may specify the rate or rates
of interest the bonds shall bear, not exceeding six per centum per annum,
or may require bidders to specify the rate or rates of interest such bonds
shall bear, not exceeding six per centum per annum, expressed in multiples
or fractions or percentages of one per centum per annum, such interest to
be payable semiannually.