The Robesonian., 1917-05-03

ally thereafter, on the first days of
May and November, they shall file
with said Treasurer an estimate of
the amount needed for the ensuing six
months until said loan has been ex-
hausted. Each six months after Sc
curing State loan the boand of coun-
ty commissioners shall publish
sworn statement showing in detail all
receipts and expenditures, to whom
paid and for what purpose. during
the preceding six months, which shall
also be filed with the State Treas
urer.
Loans Reduced Pro Rata
estimate by the several boards of
commissioners which vote for State
aid under this act shall exceed the
sum of four hundred thousand dol
/ lars, the State Treasurer shall reduce
all loans pro rata for the following
six months. If such estimates shall
not amount to four hundred thousand
I dollars, then the bonds to be issued
and sold for that period shall be re-
duced accordingly.
Time for Loans
Sec. Is. From the first to the thir-
tleth days of January and July of
i each year, and at no other time, the
| State Treasurer shall loan to the sew
/ eral counties which have complied
with the provisions of this act the
amounts asked for by each: Provided,
that interest shall be charged and
collected from the first day of the
!. month: Provided further, that the
aggregate of such loans shall not ex-
! ceed four hundred thousand dollars;
and each six months thereafter, at
the time herein prescribed, for a pc
rlod of forty-one years and as long
!. thereafter as the amount so loaned
is unpaid, said counties shall pay to
the State Treasurer five per cent in
terest on the amount so loaned.
Sec. 16. Additional loans may be
: made to counties within the limit
prescribed by section nineteen of this
: act If another election shall have
T been held therefor, as is herein pro-
e vided, and if majority of the votes
,, cast shall have been "For Good
L Roads,.
. Loans Not Approved
Sec. II. If a majority of the
2 votes cast at any such election shall
E be against Good Roads," no loan
shall be made to that county: Pro-
vided, however, that said board OF
l commissioners shall order another
! election for the same purpose afte,
1 the lapse of one year upon having
e presented to it a petition signed by
twenty-five per cent Of the voters
t as herein provided.
Special Taxes-Amount of Tax-Taz
2 for Maintenance OF Roads
e Sec. 18. There snail be levied by
e the proper authorities in each and
every county accepting loan OF
: loans, as provided for in this act, al
t the same time other taxes are levied
special annual tax for a period o1
forty-one years, to be known as the
J "Road Loan Tax, which shall be
d sufficient to pay, and which shall be
e collected by the sheriff and be useG
in paying the semiannual interest OF
e said loan or loans at five percentun
: per annum. Said tax shall be suffic
: lent to cover the cost of collection
and disbursement and the penalty
herein provided for, in case sucl
penalty should be incurred, in addi
tion to the five per centum per an
mum which shall be paid to the State
. Treasurer by the sheriff Of the coun
) ty semiannually on the first days ot
J December and June Of each year
| And a vote authorizing the issuance
: of bonds. under this act shall be un
derstood ard construed to authorize
and empower levy of said tax
That there shall also be annually lev
led by said board Of county commits
sioners at the times herein specified
a separate special tax for the main
tenonce of the rcacs built from mon
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