Coe v. . Surry County

This is the pivotal question for decision on this appeal: "Where bonds of a county are payable at a certain banking institution on the first day of a county fiscal year, and before the close of the next preceding fiscal year the county makes available at such institution funds for payment of such bonds, are the bonds outstanding at the close of the latter year within the meaning of Article Y, section 4, of the Constitution of North Carolina? The answer is “Yes.” See Article V, section 4, of Constitution of North Carolina. Royal v. Sampson County, 214 N. C., 259, 199 S. E., 15.

Article V,…