1915_private laws_158_6
CHAPTER 157 AN ACT TO ESTABLISH THE CHERRYVILLE GRADED SCHOOL DISTRICT AND TO PROVIDE AN ELECTION IN SAID DISTRICT AND TO EMPOWER THE AUTHORITIES TO ISSUE BONDS. The General Assembly of North Carolina do enact:
That said board of trustees, annually, beginning with the first Monday of the month after the election hereinafter provided shall be held, provided this act is approved at said election by a majority of the qualified voters of the aforesaid Cherryville Graded School District, shall elect one of their number as treasurer and custodian of all public school funds and the public school money derived from the State for the benefit of said school district, and the same, together with the money arising from any special tax, gifts, grants, apportionments or otherwise, shall be paid to and received by the treasurer of said board of trustees, and the said treasurer shall report monthly to the said board of trustees his receipts and disbursements and vouchers for the same. The money so received shall be held by said treasurer as a fund to be disbursed only upon the order of said board and signed by its chairman and countersigned by its secretary. The said treasurer shall furnish annually to the said board of trustees a statement, in writing, of his receipts and disbursements of the school money, properly indorsed and approved by the chairman and secretary of said school board. The bond required of said treasurer shall be fixed by the board of trustees in an amount sufficient to secure all school money which may at any time come into his hands, and the compensation for such services as treasurer shall not exceed the sum of fifty dollars annually.