therein named, he shall not be entitled to any interest thereon for the time they have been outstanding after maturity.

cipal.

Sec 63. That for the purpose of providing for the payment of Annual special tax levy may be the interest accruing on and the principal at maturity of the made to pay inbonds herein authorized, the board of aldermen of said city shall terest and prinannually and at the time of levying other city taxes levy and lay a particular tax on all persons and subjects of taxation on which the said board of aldermen now are or may hereafter be authorized to lay and levy taxes for any purposes whatever, said particular

Said funds may

be invested until

bonds are due.

tax not to be less than five nor more than twenty cents on the Limitation to one hundred dollars assessed valuation on property and not less special tax levy. than fifteen nor more than sixty cents on each poll for each fifty thousand ($50,000) dollars of bonds so issued. The taxes provided for in this section shall be collected in the manner and at the times other city taxes are collected, and shall be accounted for and kept separate from other city taxes, and shall be applied exclusively to the purposes for which they are levied and collected. So much of said taxes as may not be required to pay the interest on the bonds issued as it falls due, and can not be applied to the purchase or discharge of the said bonds, shall be invested so as to secure the payment at the maturity of the principal of the said bonds; and to insure the due investment of the amounts collected from year to year in excess of that required to pay the said interest, the board of aldermen shall appoint some suitable person to be styled "commissioner of the sinking fund of the city of Goldsboro," who shall hold his office for six years, and whose duty it shall be, under such rules and regulations as said board of aldermen shall from time to time prescribe, to make investiments of so much of the taxes collected as aforesaid as shall be applicable as aforesaid to the payment of the principal of said bonds, and to do and perform all such other services in connection with said bonds as said board of aldermen may prescribe, and such commissioner shall give bond and receive such compensation for his services as said board of aldermen may determine. Sec. 64. That before any of the bonds herein provided for shall Question of issube issued, the question of issuing the same shall first be submit- be submitted to ted to the qualified voters of said city, after thirty days' notice voters. in some newspaper published in said city, at an election to be held under the same rules and regulations as are now prescribed by law for election of mayor and aldermen for said city. Such notice shall set forth the object for which such bonds are to be issued, the amount of the same, the rate of interest, the time when they mature and the rate of tax to be levied and collected to pay the same. Those qualified voters approving the issue of such bonds and levying and collecting of the taxes to pay the same shall deposit in a separate ballot box a written or printed

ing bonds shall

Form of ballot. Aldermen authorized to hold certain gift to city.

Sewerage system may be extended

limits for outlet.

ballot with the word "Approved" thereon; and those disapproving the same shall deposit a like ballot with the word "Disapproved" thereon. If at such election a majority of such voters shall vote "Approved," then the said board of aldermen shall issue the bonds provided for in such notice and shall levy and order the collection of the taxes therein named and authorized by this act. At such election, upon the proper notice being given as herein provided for, the issuing of bonds for more than one purpose within the meaning of this act may be voted on in separate ballot boxes under the same rules and regulations as are named above; but in such case the ballots shall contain the purpose of the bonds with the words "Approved" or "Disapproved," as the elector desires, following. Said elections may be held from time to time as the board of aldermen may determine, and if at any such election a majority of the qualified voters vote "Disapproved," the same or a different proposition may be submitted to the qualified voters at another election under the provisions of this act.

Sec. 65. That the city of Goldsboro is hereby authorized and empowered to accept and hold the gift of Henry Weil and Solomon Weil to said city of the tract of land known as "Herman Park," and may add to the same by gift or purchase for a public park; and the said city shall have and exercise its police powers over the same and a like power over the cemeteries owned by said city, whether the same be in its corporate limits or not, and may enact and enforce ordinances for the proper government of the same.

Sec. 66. That if it shall be necessary in obtaining proper outlets beyond corporate for a system of sewerage to extend the same beyond the corporate limits of said city, then in such case the board of aldermen of said city shall have power to so extend it, and both within and without the said corporate limits to condemn land for the purposes of right-of-way or other requirements of said system; the proceedings for such condemnation to be the same as those prescribed in chapter forty-nine (49), volume one (1) of The Code.

Owners of land abutting on streets, etc., may be assessed.

Sec. 67. That the city of Goldsboro shall have power in its discretion to assess owners of land abutting on streets paved by said city with an amount not to exceed one-third of the actual cost of such paving in front of such abutting land; and if said city shall construct a partial system of sewerage, it shall have like power of assessing not exceeding one third of the actual cost of such sewer in front of such abutting land, but the cost of common outlets shall not be so assessed; and the cost thereof as herein provided for may be assessed upon such abutting property and added to the taxes on the same, and collected in the same manner that other taxes or assessments are collected.

Goldsboro

Sec. 68. That all persons and corporations doing business in the Persons and city of Goldsboro, "affected with a public use," shall furnish corporations in and supply said city and the inhabitants thereof, upon proper affected with a demand therefor at reasonable and uniform rates.

public use.

Sec. 69. That all laws or clauses or parts of laws in conflict Conflicting laws repealed. with this act are hereby repealed.

Sec. 70. That this act shall take effect and be in force from and after its ratification.

Ratified the 28th day of February, A. D. 1899.

CHAPTER 172.

An act to authorize the board of aldermen of the town of Lincolnton to issue bonds to construct waterworks, sewerage, and electric light plant.

The General Assembly of North Carolina do enact :

supplying town and electric

with waterworks

Ights, commissioners of Lin

colnton em powered to issue

Section 1. That the mayor and board of aldermen of the town For purpose of of Lincolnton, in the county of Lincoln, for the purpose of constructing, erecting, operating and maintaining and supplying said town with complete system of waterworks, with all the necessary appurtenances thereto belonging, and for the purpose of constructing, maintaining and operating an electric plant for bonds. lighting said town by electricity, with the necessary appurtenan ces thereto belonging, are authorized and empowered to issue bonds, bearing interest at the rate of six per centum per annum,

to the amount of twenty-five thousand dollars of the denomina- Interest on tion of one hundred dollars. to each and every one of which shall bor ds.

be attached and the coupons representing the interest on said

bonds, which said coupons shall be due and payable on the first

day of January of each year until the maturity of said bonds. When coupons payable. The bonds so issued by said commissioners shall run for a period of thirty years and shall be numbered consecutively from one to Maturity of bonds. two hundred and fifty, and the coupons shall bear the number corresponding to the bonds to which they are attached, and shall declare the amount of interest which they represent, and when the interest is due and where payable, and shall be received in payment of all municipal taxes levied by said town. The said bonds shall be exempt from municipal taxation.

Sec. 2. That said bonds shall be issued under the signature of the mayor of Lincolnton and attested by the signature of the clerk and treasurer of the board of aldermen of said town, and the mayor and clerk of said board of aldermen shall, under the direction of the board of aldermen of said town, dispose of said

Shall be received

in payment for municipal taxes.

bonds as the necessity for the prosecution of the work shall require at a sum not less than their par value, and it shall be the duty of the clerk of the said board of commissioners to make and Clerk shall keep keep a record of the bonds sold, the number of the bond purchased, the name of the purchaser and the price received for the

record of bonds

sold, etc.

Commissioners shall levy a special tax to create a sinking fund.

Maximum special tax

Commissioners shall collect rents.

Commissioners empowered to purchase annu

same.

Sec. 3. That for the purpose of paying the interest on said bonds as it falls due and to provide a sinking fund for the redemption of said bonds, it shal! be the duty of the board of aldermen of said town to levy and to be caused to be collected an nually a tax upon all the real and personal property of said town not exceeding fifty cents on the hundred dollars worth of property and one dollar and fifty cents on the poll, which said tax shall be levied and collected as other taxes for said town. It shall further be the duty of said board of aldermen to provide for the collection of rents, water charges and other revenues for the use of the water provided by said waterworks, and to provide for the collection of rents, charges and other revenues for the use of electric light provided by said electric light plant, and all revenues derived from such source, either from the waterworks or electric plant, shall be kept and held solely for the purpose of maintaining said system of waterworks and electric light system, and surplus after paying the expenses of maintaining said system shall be used as a part of the sinking fund for the redemption of said bonds until they shall have been fully redeemed.

Sec. 4. That in order that there may not be an accumulation of money arising either from taxation or from the rents of waterally one twenty- works and electric light systems after paying the annual interest

fifth of bonds issued.

May designate bonds desired

If holder refuses to surrender same

shall not receive

interest.

Record of purchasers of said bonds shall be kept

accrued on said bonds, the board of aldermen of said town are authorized and empowered to purchase annually one twentyfifth of the bonds issued at a sum not exceeding their par value. and in case no one shall offer to sell one twenty-fifth of said bonds, then the said board of aldermen are authorized to designate such bonds not exceeding one twenty fifth of the whole number issued as they may desire to purchase, and after the designation of such bonds and a notice thereof given through a newspaper published in Lincoln county, if the holder or holders of the bonds shall refuse to surrender the same and receive their par value, with accrued interest at the time of said notice, then the holder shall not receive any interest subsequently accruing: Provided, the said bonds shall be affected with the conditions of this act only when the conditions are expressed on the face of the bonds.

Sec. 5. That the commissioners of said town shall provide a record, which shall be kept by the clerk, in which shall be entered the name of every purchaser of a bond and the number of

the bond purchased and the price paid therefor and the price paid in redemption of the same, and the bonds when redeemed and recorded shall be destroyed by fire in the presence of the board of aldermen by some one of their number or by the mayor under their direction.

are issued.

same manner as

Sec. 6. That the said board of aldermen shall not issue said Election shall be bonds or any part thereof until they shall have first caused to be held before bonds held in said town an election in which there shall be submitted to the qualified voters of said town the question of a ratification of this act or its rejection, which they are authorized to do at such time as shall be deemed best for securing the voice of the people upon the question; and said election shall be held in the same manner as election for town officers. Those in favor of issu- Election held in ing said bonds shall vote a written or printed ticket with the for town officers. words "For improvement." and those who are opposed thereto Form of ballot. shall vote a ticket written or printed with the words "Against improvement" thereon The result of said election shall be ascertained by the judges of election and by them certified to the board of aldermen of the town of Lincolnton within twenty-four hours after said election, and said returns shall be immediately recorded on the minutes of said board of aldermen. And if at said election a majority of the qualified voters shall vote “For improvement," then the board of aldermen of said town may issue said bonds; but if a majority of such qualified voters of said town shall vote "Against improvement," then the said board of alderinen shall not issue said bonds.

Proceeds arising bonds, to whom

from sale of said

paid.

Sec. 7. That the proceeds arising from the sale of said bonds shall be paid to the town treasurer, who shall hold the same subject to the order of the board of aldermen of said town, in carry ing into effect the purposes of this act; and the said treasurer shall be liable on his official bond for said proceeds, and said Treasurer shall board of aldermen may increase said bond from time to time as in their discretion may be necessary to provide for the safe keeping of the same.

Sec. 8. That this act shall be in force from and after its ratification.

Ratified the 4th day of March, A. D. 1899.

CHAPTER 173.

An act to incorporate the town of Town Creek, Wilson county, North

Carolina.

The General Assembly of North Carolina do enact :

be liable on

official bond.

Section 1. That the town of Town Creek, in the county of Wil- Town of Town son, be and the same is hereby incorporated under the name and Creek, Wilson county, incorpostyle of "Town Creek." and as such shall be subject to and gov- rated.