SR_DPI_DNE_Special_Subject_File_B5F1_Durham_NC_College_Negroes_133

[text in left top corner of page] File Durham State normal school not used

WHEREAS, the Durham State Normal has em-
ployed its teachers for a period of twleve months, said contracts to expire July 1st, 1925;

AND WHEREAS, there are no funds now in hand
with which to pay said salaries and to meet the requirements of said contracts;

AND WHEREAS, it appears that the Board must either borrow money to meet the obligation of these contracts or close the school;

It is thereupon moved and adopted that the Board be, and it is hereby authorized to borrow
the sum of FIVE THOUSAND DOLLARS ($5000), and that
the Chairman and Secretary of the Board be, and they
are hereby authorized and directed as evidence of
said indebtedness to execute and deliver to the
Citizens National Bank of Durham promissory negotiable
note of said Board for five thousand dollars due
sixty days after date.

This the 27th day of February, 1925.