The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-03-22
100000 BOND ISSUE
State Treasurer Offers Three
Percent Ten-Year Bonds
The State Of North Carolina Win Sell $500, 600
Bonds 10 Pay tie D.6ci in the State
Treasury.
reasury.

of North Carolina offered State bonds
for sale. The Legislature, which adj
journed on March 9th, authorized an is
sue of 100000 of State bonds for ten
years, and in the advertising columns
of the News and Observer of March 18th
the following advertisement appeared:
The State Treasurer of North Carolina
offers for sale to highest bidder 5000 600
Coupon Bonds in denomination of $500
and 81, 600, 100000 Registered Bonds of
the State of North Carolina in denomina-
ton of $50 each.
All bearing per cent interest payable
semi-annually. dated January LIST. 1908.
Payable ten years after date and exempt
from all taxation.
Sealed bids received until II o'clock NJ,
April 2nd 1908. Right reserved to reject
any and all bids. Address
b. II. LACY, State Treasurer.
These bonds are just as good as United
States bonds. and ought to float just as
easily and as readily. If you have any
away in chimney corners, here is
splendid place to put that boarded
wealth; into a safer place. Already the
Governor and State Treasurer have re-
ceived letters from far Northern States
asking about the bond issue. showing
that investors are interested.
THE BOND BILL.
The legislation authorizing this bond
issue is embodied in House Bill 773, Sen
ate Bill 1440, and is as follows:
The General Assembly of North Carolina
do enact:
Section /. That for the purpose of pay
ing off the indebtedness of the State of
North Carolina arising out of appro-
priations heretofore made for educational
charitable and other purposes, and for
the purpose of continuing the good work
already commenced for the upbuilding
of the State, the State Treasurer is here
by authorized and directed to issue bonds
Of the State of North Carolina, payable
ten years after the first day of January,
1908. to an amount not to exceed the sum
of three hundred thousand dollars.
Sec. 9 All of said bonds shall bear
interest at rate not exceeding four per
cent, from the LIST day of January, 1908,
until paid, which said interest shall be
payable semi annually on the LIST days of
January and July of each and every year
shall remain due and unpaid.
Sec. 3. That the bonds authorized and
directed to be issued by the preceding
section shall be coupon bonds OF the de-
nominations of 500, $500, and 81 600, each
as may be determined by the said State
Treasurer. and shall be signed by the
Governor and the State Treasurer, and
sealed with the great seal of the State.
no 80 h.,
the State Treasurer alone, or may have
q fac-simile of his signature printed en-
graved or Autographed thereon and the
said bonds shall in all other respects be
in such form as the said State Treasurer
may direct; and the coupons thereon
shall, after maturity, be receivable in
payment of all taxes. debts,
dues, licenses, fines and demands due the
State of North Carolina OF
any kind whatsoever, which shall be ex-
pressed on the face of said bonds.
The Treasurer may, in his discretion, in
stead of coupon bonds of the denomina-
lions named issue as many as one hun
dred thousand dollars of registered bonds
of the denomination of $50 each as part
of the amount mentioned in section one
of this act Before selling the coupon
bonds herein authorized TO be ISSUED, the
Treasurer shall advertise the sale, anC
invite sealed bids in such manner as il
his judgm mt may seem to be effectua
to secure { e best price. He is authoriz-
cd to acce bids for the entire issue
or any porl'~n thereof and where Thu
coalitions equal, he shall give the
purchase to the citizens o
fr.r ~ a. And he is authorized
Il tered bonds herein author
IL .... amer as in his judgment
wi pse5H. ' best price.
said bonds and coupon,
sha r. t.. from all State county
or alton. or assessment di
rec er .a5v.. general or special
VIII for purposes of genera
rev-rur ny wise, and the intercs
paid not be subject to tax
atioa ..oae.
Sc b. aal. be lawful for all exec
utors. traitors. guardians an,
fiducial rra'y to invest in sal,
bonds
Sec. H.e act shall he i'm fore
from au5 ratification
In T. at Assembly read tbre
times and ratified this 9th day of March
A D. 1908