CHAPTER 310

An Act to amend the Code of Virginia by adding a section numbered
15-666.27:1, relating to the destruction of bonds and coupons after pay-
ment in full.

[S 101]
Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended and reenacted by adding a
section numbered 15-666.27 :1, as follows:

§ 15-666.27:1. (1) Whenever the fiscal agent for any city shall have
made payment in full for any bond or bond coupon representing an obliga-
tion of such city, such fiscal agent may, by agreement with the governing
body of the city, forthwith destroy such bond or bond coupon and shall
certify the facts of such payment and destruction to the treasurer or
director of finance, as the case may be, of such city.

(2) The certification required by this section shall set forth the
issue, series, number and maturity date of each such bond or bond coupon,
together with such additional facts necessary to specifically identify each
such bond or bond coupon so paid and destroyed.

(3) Every such certification shall be in such form as shall be pre-
scribed by the Auditor of Public Accounts and shall be acknowledged in the
manner prescribed by law for the acknowledgment of deeds.

(4) Whenever any such certification, appearing upon its face to have
been executed and acknowledged as hereinabove prescribed, shall have
been delivered to the treasurer or director of finance of any city by such
fiscal agent, then such treasurer or director of finance shall, in the absence
of actual knowledge of any misrepresentation or irregularity as to such
certification, be relieved of all further liability for all such bonds and bond
coupons therein represented to have been paid and destroyed. For account-
ing purposes, every such certification which appears upon its face to have
complied with the requirements of this section shall constitute sufficient
evidence of the facts set forth therein.