1893_public laws_71_10
CHAPTER 70 An act to authorize the commissioners of Henderson county to issue bonds. WHEREAS, The county of Henderson by order of her board of com- missioners entered, in pursuance of law, an ordinance in the year of one thousand eight hundredand seventy-four, authorizing an elec- tion by the voters of the county on the question of issuing her bonds in aid of Greenville and French Broad Railroad Company, afterwards changed to the Spartanburg and Asheville Railroad; and whereas, in pursuance of said order an election was duly held and it was deter- mined by a majority of voters to subscribe to the capital stock of said railroad ; and whereas, the said county by her authorized agents sub- scribed to and issued in aid of said railroad her bonds amounting in the aggregate to one hundred thousand dollars with coupons attached drawing interest semi-annually at seven per centum, the principal pay- able in twenty years ; and whereas, the said bonds will mature as per their face on the first day of July, one thousand eight hundred and ninety-five; and whereas, furthermore, it is desired to fund said bonds in accordance with law ; now, therefore, The General Assembly of. North Carolina do enact :
That should there be an excess in amount of bonds provided for by this act beyond the necegsary amount to pay off the said old bonds and interest and the expenses incurred in effecting the liquidation or funding of the same, then the said excess of bonds shall be speedily cancelled and filed in safe of county.