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150 LAWS OF [Sessions
they are hereby invested with authority to issue the bonds
of the county, redeemable in a period not exceeding twenty
years from the date thereof, to bear interest payable annu-ally
at a rate not exceeding seven per cent, per annum ; and
it shall be the duty of the Justices of the county regularly
to provide the means of meeting the interest on the county
bonds as the same shall become due, by laying such taxes
annually on the persons, lands, and otiier property within
the county, as shall and may be sulBcient for that purpose;
and the said Justices shall likewise annually appoint a
county agent to negotiate any loans that may be necessary*
to sell and dispose of the bonds, to receive the taxes im-posed
to meet the interest and regularly and fathfully apply
-the same to its payment, to represent the county in all the
meetings of the Stockholders of the Rail Road Company,
and to receive the dividends that may become due upon
the county stock, and apply the same either to the interest
or to a sinking fund for the extinguishment of the princi-pal,
as the Justices of the County Court may direct; and it
xshall likewise be the duty of the Justices of the county, in
due season, to make ample provision by taxation or other-wise
for liquidating the principal of said bonds as they
shall come to maturity.
Ratified the 14th day of February, A. D., 1867.
CHAPTER XCIII.
AN ACT TO AMEND THE CHARTER OF THE WESTERN RAIL
ROAD COMPANY.
Section 1. Be it enacted by the General Assembly of the
dol h Sio.te of North Carolina, and it is hereby enacted by the au-
Aiamaiice and (]ioritv of the Same, That it shall be lawful for either or all
Chatham may ,'^ . n-r^nii.n i/-.t.i
«ubecribe to ot the counties ot Randolph, Alamance and Chatham, to
uapua e oc .
g^^|^g^j.j^g ^^ ^j^g capital stock of the Western Rail Road
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| Title | Page 156 |
| Full Text | 150 LAWS OF [Sessions they are hereby invested with authority to issue the bonds of the county, redeemable in a period not exceeding twenty years from the date thereof, to bear interest payable annu-ally at a rate not exceeding seven per cent, per annum ; and it shall be the duty of the Justices of the county regularly to provide the means of meeting the interest on the county bonds as the same shall become due, by laying such taxes annually on the persons, lands, and otiier property within the county, as shall and may be sulBcient for that purpose; and the said Justices shall likewise annually appoint a county agent to negotiate any loans that may be necessary* to sell and dispose of the bonds, to receive the taxes im-posed to meet the interest and regularly and fathfully apply -the same to its payment, to represent the county in all the meetings of the Stockholders of the Rail Road Company, and to receive the dividends that may become due upon the county stock, and apply the same either to the interest or to a sinking fund for the extinguishment of the princi-pal, as the Justices of the County Court may direct; and it xshall likewise be the duty of the Justices of the county, in due season, to make ample provision by taxation or other-wise for liquidating the principal of said bonds as they shall come to maturity. Ratified the 14th day of February, A. D., 1867. CHAPTER XCIII. AN ACT TO AMEND THE CHARTER OF THE WESTERN RAIL ROAD COMPANY. Section 1. Be it enacted by the General Assembly of the dol h Sio.te of North Carolina, and it is hereby enacted by the au- Aiamaiice and (]ioritv of the Same, That it shall be lawful for either or all Chatham may ,'^ . n-r^nii.n i/-.t.i «ubecribe to ot the counties ot Randolph, Alamance and Chatham, to uapua e oc . g^^|^g^j.j^g ^^ ^j^g capital stock of the Western Rail Road |
