The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-03-22
To Educate the Children.
Continued from 9Th page.)

to the making OF such loan and the remaining
installments together with the interest shall be
pail one each year, the 10th day Of February
of each subsequent year till all shall have been
paid.
Sec A. That at the January meeting of the
County Board of Education before any install
ment shall be due on the next 10th day OF Feb
rlary, the said County Board shall set apart
out of the school funds an amount sufficient
to pay such installment and interest to be due
and shall issue its order upon the Treasurer OF
the County School Fund therefor, who, prior
to the 10th day of February, shall pay over to
the State Treasurer the amount then due And
any amount loaned under the provisions of this
act shall be 4 lien upon the total school funds
of such county in whatsoever hands such fund
may be and upon failure to pay any INSTALL
ment interest part OF either when due, the
State Treasurer may deduct a sufficient amount
for the payment of the same out of any fund
due any county from any special State appropria-
ton for public schools or he may bring action
against the County Board of Education of such
county, any person or persons IN whose posses
sion may be any part of the school funds of the
county, and the tax collector of such county.
And if the amount of school fund then on hand
be insufficient to pay in full the sum so due,
then the said State Treasurer shall be entitled
to an order directing the tax collector of such
county to pay over to the State Treasurer all
moneys collected for school purposes until such
debt and interest shall have been paid.
Sec. 5. That the County Board of Education
from any sum borrowed under the provisions of
this act may make loans to any district in such
county for the purpose OF building school houses
in such district and the amount so loaned to any
district shall be payable in ten annual INSTALL
mcnts with interest thereon at four per cent.
payable annually,
At the January meeting of said County Board,
it shall deduct from the apportonment made TO
any district which has borrowed under the pro-
visions of this ait, the installmcnt and inter
est then due, and shall continue TO deduct such
amount at each annual January meeting until
the whole amount shall have been paid together
with interest.
Sec g. That the sum Of one thousand dollars
annually shall be set aside and is hereby appro
priated out of this fund for the employment of
an additional clerk to be appointed by the
State Superintendent of Public Instruction to
aid in the proper execution of the provisions OF
this bill and in the proper execution OF the pro-
visions of the bill making a special appropria-
ton for a four months school term in every
public school.
Sec Z. The State Board of Education and its
successors in Office is hereby created body pol
itic and corporate and by that name may re-
ceive requests and gifts of every description and
have power to hold real and personal property
and be vested with all other powers conferred
upon corporations under the general law relat-
ing to corporations.
Sec s. No warrant for the expenditure of any
money under this act shall be issued by the Audi
tor except upon the order OF the State Super
intendent of Public Instruction with the appro-
val of the State Board of Education.
See O. This act shall be in TO; II from and after
its ratification and all laws and clauses of laws
in conflict with this act hereby repealed.
In the General Assembly read three times and
ratified this 9Th day of March, A. D. 1908.
w. ID. TURNER,
President of the Senate.