1897 public laws – Ch.392 Sec.7
The chapter text below is provided for context. Scroll down to see the text of the law.
CHAPTER 392 An act for the establishment of Graded Schools in the city of High Point. The General Assembly of North Carolina do enact:
That said bonds shall not be sold for less than their face value; that when issued said bonds shall be deposited with the treasurer of said town and shall not be delivered to any purchaser until the purchase money is paid in full and that the said treasurer and the sureties on his official bond shall be liable to account forand pay over the sameas provided in this act. It is further.enacted that the said treasurer shall keep separate from all other public moneys coming into his hands the moneys arising from the sale of said bonds, and the moneys thus arising from tae sale of said bonds shall be expended and exclusively applid by the board of school commissioners of the city of High Point to the purshase of a suitable lot or lots and the erection thereon of suitable schoo] buildings and the furnishing and equipping of the same for school purposes.