1913_public local laws_442_19
CHAPTER 441 AN ACT TO PROVIDE FOR A BOND ISSUE FOR THE PUB- LIC ROADS OF JOHNSTON COUNTY. The General Assembly of North Carolina do enact:
The said bonds and coupons shall be exempt from all county or municipal taxation, and the interest thereon shall not be subject to taxation as for income, nor shall said bonds or. coupons be subject to taxation when constituting a part of the surplus of any bank, trust company, or other corporation.