1915 public local laws – Ch.13 Sec.1

00 That for the purpose of paying for the construction and building of a workhouse in New Hanover County, the board of commissioners of said county shall be and they are hereby authorized to issue the coupon bonds of said county to an amount not to exceed thirty-five thousand dollars ($35,000), and to be in denominations of not less than five hundred dollars nor more than one thousand dollars each. The said bonds shall be payable twenty years from date of issue and shall bear interest from their date of making until maturity at a rate of interest not greater than five per cent per annum, payable semiannually on the first days of January and July of each year. The semiannual payments of interest shall be represented by coupons attached to each one of said bonds, and shall be identified therewith by proper numbers and such other means as said board may determine. The bonds shall be signed by the chairman of the board of commissioners and attested by the clerk of said board, under the corporate seal of the county, and said coupons shall bear the facsimile signature of said chairman and clerk. Said bonds and coupons shall be payable at some bank to be designated by the said board of commissioners and said bonds shall be designated as New Hanover County Workhouse Bonds.