1895 private laws – Ch.2 Sec.15
The chapter text below is provided for context. Scroll down to see the text of the law.
CHAPTER 2 An act to amend the charter of the town of Mount Airy, North Carolina, and to establish a system of graded schools therein. The General Assembly of North Carolina do enact :
That the bonds hereby authorized to be issued shall not be sold for less than their face value, and the mayor of the said town shall not deliver said bonds or any of them to the purchaser thereof until the purchase-money thereof shall be paid to the treasurer of the said town and his receipt to the purchaser produced for the money as evidence of such payment; and the treasurer of the said town shall receive all such moneys paid in the purchase of bonds in his official capacity as treasurer of said town, and he and the sureties on his official bond shall be liable therefor and pay over the same as is provided in this act, or as may be otherwise provided by the laws relating to the treasurer of the town of Mount Airy; and it shall be the duty of the board of commissioners of the said town to see to it that the bond of said treasurer shall at all times be sufficient in amount and with satisfactory sureties to provide against any loss of money arising from the sale of said bonds, and to that end may at any time require said treasurer to renew his official bond in suchsum and with such sureties as they may require, and in default thereof remove him from his office as treasurer.