1899 private laws – Ch.308 Sec.16

Thattoprovideforthe payment of interest onsaid bonds, the board of county commissioners shall, in addition to other taxes each year, compute and levy upon the proper subjects ef taxation in the townships of Currituck, Swan Quarter and Lake Landing a sufficient tax to pay the interest on said bonds issued as aforesaid, and in order to pay the said bonds as they mature and such other bonds as they may anticipate the payment ef, the said commissioners shall, at the expiration of ten years from the date of their issue, annually compute and levy an additional tax of one thousand dollars ($1,000.00) or more, in their discretion, until all their bonds are paid, which taxes shall be eollected by the sheriff of Hyde county under the same rules and regulations as are provided for collecting other taxes, and he and his sureties shall be liable to the same penalties and subject to the same remedies as are now prescribed by law for the faithful collecting and paying over all taxes to the state and county. The said taxes when collected shall be paid over to the county treasurer, as other taxes are paid, and the said treasurer and his sureties shall be liable to the same penalties and subject to the same remedies as are now prescribed by law for accounting for and paying out the state and county taxes. The said treasurer shall first pay the interest on said bonds and the coupons be retained as vouchers and evidences of payment, and the balance of money shall be retained in his hands for the purpose of creating a sinking fund for the payment of the principal of the remaining bonds in the order in which they are payable, and the management and control of said sinking fund shall be vested in the said board of county commissioners, provided it shall not be expended for any other purposes.