Public laws and resolutions of the state of North Carolina passed … – Page 193 (1893)
CHAPTER 231.
An act to authorize the commissioners of Pender county to compromise and fund the debt of said county.
The General Assembly of North Carolina do enact:
SECTION 1. That the board of commissioners of Pender county are commissioners hereby authorized to compromise, adjust and settle the outstanding authorized indebtedness known as the ” old debt” of said county on such terms compromise, &c, outstanding as may be agreed upon between them and the creditors and holders county indebted of such old claims. ” Authorized to sell such part of land purchased with “poor-house fund” as may not be necessary for poor-house purposes. Authorized to sell other lands. Proceeds of sale and certain taxes applicable to payment of compromise debts.
Special fund.
SEC. 2. That in order to provide a fund with which to pay off such debts as they may be able under the provisions of this act to compromise, adjust and settle, they are hereby authorized to sell so much of the land purchased by the county with the special poor-house fund as may not in their judgment be necessary for poor-house purposes, and also such other lands owned by the county as are not necessary for public or county purposes, and the proceeds of the sale of said lands, together with all such moneys as may be derived from the collection of back taxes, excepting therefrom five hundred dollars which may be used by them to carry into effect the provisions of chapter three hundred and forty-five of the laws of eighteen hundred and ninety-one, due the county for years prior to the passage of this act; and all such moneys, taxes and revenues above the expenses incident to the same as may hereafter be derived by the county from sources subjects of taxation, and property from which no revenues have heretofore been received by the county, may be appropriated by the said board of commissioners to the payment of the debts adjusted by them ; and when the said moneys shall be so appropriated by the said board of commissioners the same shall constitute in their hands a special fund applicable only to the payment of the debts adjusted by them until the said debts shall have been paid and satisfied.
SEC. 3. That this act shall be in force from and after its ratification.
Ratified the 2d day of March, A. D. 1893