1891 private laws – Ch.307 Sec.80
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CHAPTER 307 An act to consolidate and revise the charter of the city of Winston. The General Assembly of North Carolina do enact :
That forthe purpose of maintaining and improving the pros perity [property] of the city, a corporate debt may be created for any public purpose under the following limitations, to-wit: the whole interest-bearing debt shall never exceed at any one time a sum to pay the interest on which, and to provide a sinking fund shall require atax of more than sixty cents on the hundred dollars of the assessed property and of the amount represented by the polls of the city; and the bonds and other evidence of the interest-bearing debts of the corporation shall not be subscribed or paid into any work or sold for less than par or the amount expressed on their face.