1917_public local laws_548_3
CHAPTER 547 AN ACT TO AUTHORIZE THE CITY OF KINSTON TO ISSUE GRADED SCHOOL BONDS. The General Assembly of North Carolina do enact:
That the said bonds hereby authorized to be issued shall not be sold for less than their face value, and the treasurer of the city shall receive all such moneys paid in the purchase of the bonds in his official capacity as treasurer of said city, and he and the sureties on his official bond shall be liable to account for and pay over the same as is provided in this act or may be provided otherwise by the laws relating to the treasurer of the said #NAME? of Kinston, and it shall be the duty of the said city council of the city of Kinston to see to it that the bonds of the said treasurer shall at all times be sufficient in amount and with satisfactory sureties to provide against any loss of money arising from sale of said bond, and to that end may at any time require said treasurer to renew his official bond in such sum and with satisfactory sureties as they may require, and in default thereof remove him from office as treasurer.