Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1921-04-14
BOONE wATAUCA COUNTY. NC. THURSDAY APRIL H. 1921

not to exceed thirty and shall
bear interest not to exceed 6 per.
cent and shall be issued and sold
in the same manner as other mu.
nicipal bonds are issuedand sold.
The proceeds arising from the
sale of the said bonds shall be
used for the purpose of construc.
ting public roads in Watauga
county in accordance with t h e
provisions of this act hereinafter
stated and for no other purpose
whatsoever; Provided, that the
bonds issued under this act shall
never exceed one hundred thou.
sand dollars in amount and the
purchasers of such bonds shall
not be required to see to the ap.
plication of the proceeds; Prov.
ded, fu tner, that all necessary
costs and expenses incurred in
the issue and sale of said bonds
shall be paid out of the proceeds
arising from said sale.
Sec. 3. That in case bonds are
issued under the provisions of
section two of this act the board
of county commissioners Of Wa.
tauga county shall annually
thereafter levy upon all real and
personal property in Watauga
county a special tax sufficient to
pay the interest OH said bonds
and to create sinking fund suf.
ticient to retire same at maturi-
ty. The said special taxes shall
be levied and collected at the
same time and in the same man
ner as the other taxes of Watau.
ga county are levied and collect
ed and be paid over to the Treas.
urer of Watauga county to be
held be he held be held by him
separate and apart from other
county funds and to be used for
the purpose stated in this sec.
tion and for no other purpose
whatsoever. The special taxes au.
thorized in this section shall be
in addition to the special tax au
thorized in section one of h i 5
act and shall ba in no way affect
ed by section one Of this act.
Sec. 4. That all funds arising
from the levy Of the special tax
authorized in section one of this
act or from the sale of bonds au.
thorized in section two of this
act or arising from both sources
shall be used and expended
Oy the board OF cuUnly comm's
,ioners of Watauga county for
the construction and repair of
the public roads and bridges in
Watauga county in such manner
and in such amounts as to dis.
tribute properly among the Sev.
eral townships the expenditures
of public road funds in Watauga
county from and after the year
1917 in order that the purposes
of this act may be properly car.
ried out in accordance with the
desire set forth and expressed
in the preamble of this act; in
other words, the said funds shall
be expended upon the construc
tion and repair of the public rds
of each Of the townships of the
County which have not in the
past four years had expended
upon them public roads fun Is
which bear to the to al amount o1
public rood funds spent in Wa
tauga county during the said per
iod the same proportion as the
taxable property ;a'uation Of the
said township bears to the taxa
bic property valuation of Watau
Sd C'i I'''I. 10 ~. '''t FN!i'''' Nn'
inten of uhjs act - pgp,iue ,S,mt
ces from which the county com
missioners may raise sufficien
funds to,equalize the proportion
ate expenditure Of road funds
in Watauga County and to carry
out the purpose expressed in tn,
ouoo,o hlo nf th;c oof Tho pOo ,r