1883_public laws_205_2
CHAPTER 204 An act to empower the board of county commissioners of McDowell county to compromise, commute and settle the debt of McDowell county. The General Assembly of North Carolina do enact :
The board of county commissioners of McDowell county are hereby authorized to issue coupon bonds of the denomination of not less than fifty nor more than five hundred dollars, to an amount not exceeding fifty thousand dollars; said bonds may be redeemable at the pleasure of the said board of county commissioners of McDowell county, after any period not less than ten nor more than thirty years, or if deemed expedient, may be made payable at any period of not more than thirty years from the date of said bonds, and bearing such interest as may be agreed upon by the said board of county commissioners of McDowell county, and the holders or owners of claims against said county of McDowell, not exceeding six per centum per annum, to be paid semi-annually. And said bonds shal! be signed by the chairman of said board of county commissioners of McDowell county, and the clerk of said board.