CHAP. 49.--An ACT to authorize the town of Eastville, in Northampton county, to issue bonds and to borrow money for the purpose of paying the balance due for completing the work of macadamizing the roads or streets through the town.

1. Be it enacted by the general assembly of Virginia, That the council of the town of Eastville, in Northampton county, may, for and in the name of the town, cause to be issued bonds, the form of which shall be prescribed by the council, not exceeding the amount of two thousand five hundred dollars, said bonds to be signed by the mayor and attested by the clerk of said town, bearing interest at a rate not exceeding six per centum per annum and payable not exceeding ten years from date, and redeemable after one year at the pleasure of the council of said town: provided, however, that the money arising from the sale of said bonds shall be used and applied by the said council exclusively for the payment of the outstanding indebtedness of said town incurred in the building and completing the work of macadamizing the streets or roads through town, and provided, further, that the amounts necessary for paying the interest on these additional bonds and providing a sinking fund to be used in payment of the principal when due, shall be taken out of the regular town levy as already provided for, for laying and collecting same.

2. There being an emergency of immediate demands upon the town treasury in this case, this act shall be in force from its passage.