1909_private laws_124_2
CHAPTER 123 AN ACT TO AUTHORIZE THE TOWN OF RAMSEUR TO ISSUE BONDS FOR THE IMPROVEMENT OF STREETS AND SIDEWALKS. The General Assembly of North Carolina do enact:
That the board of Commissioners of the town of Ramseur is hereby authorized and empowered to submit to the qualified voters of said town, at an election as hereinafter provided for, the question of issuing bonds of the town of Ramseur in the amount of five thousand dollars, and of levying and _ collecting a special tax, as hereinafter provided. for the payment of the principal and interest of said bonds, for the purpose of working, improving and making streets and sidewalks in said town. Said bonds shall be ten in number and five hundred dollars each in amount. They shall bear interest from the date thereof at a rate not exceeding six per cent per annum, and the interest shall be payable semiannually. Said bonds shall be payable, one in three, one in six, one in eight, one in ten, one in twelve, one in fourteen, one in sixteen, one in eighteen, one in twenty, and one in twenty-two years, respectively. They shall have interest coupons attached. The bonds shall be numbered, and shall be executed on behalf of the town by the mayor, and attested by the clerk, and shall have the corporate seal attached, and shall be in all other respects of such form and tenor and payable at such dates and places as shall be determined by the board of commissioners and designated in the bonds themselves. None of said bonds shall be sold or disposed of for less than par, and a record shall be kept, showing to whom each and all of said bonds shall be issued.