1905 private laws – Ch.279 Sec.13
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CHAPTER 279 AN ACT TO INCORPORATE THE DOBSON ELECTRIC RAIL- WAY COMPANY. The General Assembly of North Carolina do enact:
If a majority of the qualified voters vote for subscription, then the board of commissioners of said county, or proper authorities of said city or town, shall immediately make such subscription, and shall issue such coupon bonds to the amount of said subscription, in order to pay the same, and the bonds shall upon the face indicate on account of what county, township, city or town they are issued. They shall be in a denomination of not less than one hundred dollars ($100) and not more than one thousand dollars ($1,000) each, and shall run for such number of years and bear such rate of interest as the petition and order of election shall indicate.