Goldsboro weekly argus., 1915-01-28
NOTICE,

An Act to Authorize the Board of Al
dermen of the City of GoldsbOr0 to
Issue Bonds for the Purpose of Es-
tabIishing An Ineinerator.
Whereas, the Board of Aldermen OF
the City of Goldsboro is of the opinion
that the establishment of an incinera-
tor in or near the City of Goldsboro
for the purpose of sanitary disposi-
ton OF bodies of dead animals and
public garbage in said City is neces-
sary for the public health and welfare
of the City OF GoIdsboro and it's citi-
zens; Therefore,
The General Assembly of North
Carolina do enact:
Section l. That for the purpose Of
purchasing the necessary land there
for and the erection and establishment
thereon Of an incineTator for the City
LOT Gotd5boro, the Board of Aldermen
of the City of Coldsboro is authorized
and empowered to issue bonds to an
amount not exceeding in the aggre-
gate the sum DISK Thousand Dollars
Cf such denomination and in such
proportion as the Board of Aldermen
Of the City Of GOldsboro may deem ad-
Visable, bearing interest from the date
thereof, at a rate not exceeding six
per cent per annum, with interest
coupons attached payable ha1f-yearly
at such times and at such place or
places as MAJ be deemed advisable by
lsaid Board OF Aldermen: said bonds
Ito be Of such form and tenor, and
Transferable in such way, and the
TrincipaI therefor payable or redeem
able at such time or times, not ex-
eeetirg twenty-five years from the
cate thereof, and at such place OF
places as said Board of Aldermen may
determine; said bonds shall be signed
by the Mayor and countersigned by
the City Clerk, and sealed with the
corporate seal of the City, and the
coupons shall bear the, engraved or
lithogr graphed signature of the Mayor
and City Clerk: that said bonds shall
be sold at private or public sale, with
or without notice, as the Board OF
Aldermen of said City may determine
for net less than par value, and the
proceeds Of said bonds, including any
premium receiTad from the sale there
Of. shall be applied exclusively to the
purposes hereinbefore set forth, and
The purchaser of said bonds shall not
he held responsible for the application
.of the moneys derived from the sale
Of the same
Sec. 2. That the bonds authorized
to be issued by section one of this act
nd their COUPONS shall not be sub
ject to taxation by the said City un-
I'll after they become due and tender
Of payment shall have been made by
The City, and the coupons shall be
receivable in paym ent of the taxes OF
other City dues for any fiscal year in
which said coupons shall become due
or thereafter If the holder of any
such bonds or coupons shall fail tC
present the same for payment at the
time or times or at the place or places
therein named, he shall not be en-
titled to any interest thereon from the
time they have been outstanding afte1
maturity
Sec. 3. That the Board of Aldermen
of said City shall annually, and at the
time of levying other City taxes, levy
and lay a particular tax on all per
sons and subjects of taxation on which
the Board of Aldermen now or MAY
hereafter be authorized to levy anC
lay taxes for any purpose whatever
suthc1ent to provide for the paymenr
of the interest accruing on, and the
principal at maturity of the bonds
herein authorized to be issued by sec
ton one of this act. The taxes pro
v1ded for in this section shall be col
lected in the manner and time othel
city taxes are collected, and shall
be accounted for and kept separate
from other city taxes and shall be ap
piled exclusively to the purpose fol
which they are levied and collected
Said taxes shall be turned over anf
delivered to the Commissioner of thu
Sinking Fund of the City of Colds
boro, and so much Of said taxes as
may not be required to pay the inter
| est On the bonds issued as it fall.
| due, and cannot be applied to the pup
chase and discharge of said bonds
shall be so invested by him as to Sc
cure the principal of said bonds a
| their maturity
| Sec. 4. That all laws, clauses o.
parts of laws, in conflict with this ac
are hereby repealed
Sec. 5. That this act shall be il
force and effect from and after it.
ratification.
I