The Virginia enterprise., 1909-04-30

ton Z. the said town spporyisor1 shall
BY resolution Designate: Motice Of such
deputy town eSerf 81 = SUCH Ge. 4
not less than twenty days before snch
sss sd notice e state anss Il. 4
pose and amount OF the proposed bonds
II: ct the time Of the passage Of the
resolution by the supervisors or at the
fose ts o ss e. S. Of as
be more than sixty days; prior to the
then next regular annual town meeting.
then In such case it shall be the duty
special election to vote upon the propo-
eitton expressed in such resolution or Pc
town in see Of shs such oS SECTION sui
able box In which ballots cast at such
election for or against such proposition
shall be deposited. The ballots used at at
shall have printed theron: "For road
"Eor road and bridge trefunding bonds.
sna ,S sah naes eetor yons sa2R 9R
Word TO Or os the sft Tos& DRpssss 'Hse
said election shall be conducted and the
counted and the results certified In like
manner as in case of an election for town
o6cers.,
sd .ssson !: Ss n Of tRer the votes Sf
shah issus and negotiate such refunding
nond Ct sch town notce to tnS S,ch bonds
shall not Be negotiated or sold for less
than their par value and shall be MADE
due and payable within twenty yearS
@ sae 1sss 9f an SIX cent
pef snnum. payable annually. No town
shall issue or sell its refunding bonds
nder this act to such an amc%ae ;n%sh9edness nes
teen per cent Of the assessed, valuation
Of the taxable property Of such town az
Indicated by the last preceding assess
Sec. :. Before any such town shall be
authorized to issue tts refTndfng bonds
pervisors shall give notice by publica-
tion for three consecutive weeks In the
oncial newspaper Of the county in which
fea en t9wn for is a ssa fgS n. y 81 sas e n
capital Of the state, ali Of which said
newspapers shall be designated therefor
duly made and recorded; that the said
supervisors will receive bids for the sale
Of said bonds at the time and place to be
named in such notice.
Sec. 8. At the time and place named
In such notice the said town super
visors shall open and consider said BIDS
and may thereupon sell said refunding
alton offering the most advantageous
terms for the interest Of such a,tsTv,:or. town:
may reject any of the bids offered for
the purchase Of such bonds 81 II they C deem *sa
It necessary for the best interest OF the
Sec. I. The money realized upon the
sale Of such bonds shall be placed In
the town treasury and devoted SO far as
may be necessary to the payment Of the
original bonds for the payment Of which
such refunding bonds were issued, and
the residue thereof: If any. after such
payment, shall be turned into the road
be the duty Of the town treasurer after
the sale Of said refunding bonds to
promptly pay of the original bonds as
they are presented to him. Upon such
& Sonds he and ssa hs msS
tached thereto, "canceled and paid
Sec. 3. The board Of supervisors of
any such town and their successors are
Day eVS St eSeen October next T after the date Of Of
said refunding bonds. and in each and
every year thereafter on or before the 1st
day of October until the payment OF said
bonds and interest @ is "a f9
auditor Of the county in which said town
Is situated the taxes upon the taxable
property Of said town equal to the amount
of principal and interest maturing: next
after such levy, and In the discretion OF
said board Of supervisors such further
sum as it shall deem expedient. not ex-
ceedlng fifteen per cent OF such maturing
bonds and interest, which taxes shall be
payable in money and shall constitute q
Interest thereon.
Sec O. This act shall take effect and
be in force from and after it's passage.
Approved April q, 1909.