1881 public laws – Ch.184 Sec.12
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CHAPTER 184 AN ACT TO INCORPORATE THE CLINTON AND FAISON RAILROAD COMPANY. The General Assembly of North Carolina do enact:
That in payment of such subscription as provided for in the preceding section, the board of commissioners of the county in which such township is situated, shall have power to issue bonds in denominations not less than fifty dollars, which shall run ten years, and have coupons attached for interest at six per centum per annum, not exceeding the sum so authorized to be subscribed, and such bonds shall indicate on account of what township subscription they were issued.