Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1844-01-31
A G. n s..

AN ACT to amend an ActseatitL'd "An
Act to authorize the Sale Of the Real Es.
tale of Alerunder Do,cner, deceased, and
for other purposes"
Be IL enacted, by the Senate and House
of Representatives, now met and sitting
in General Assembly. and by the author
~ Of the same, That an Act entitled An
Actto authorize the sale of The real estate
of Alexander Downer, deceased, and lor
other purposes" ratified on the sixteenth
day of December. in the year Of our Lord
one thousand eight hundred and thirty
eight, he, and the same is hereby amen
ded as follows, that is to say: that upon
The death, resignation, removal from the
District Of EJgefield, or refusal 10 serve, of
any person appointed Commissioner Tor
The administration of the Downer Fund,
pursuont 10 the provisions OF the Act atore-
said, The Governor be authorized and re-
ouired, from time TO time. 10 I'LL The va
cancy so occurring, BY the appointment of
another Commissioner, so that there may
at all times be Board Of three Commits
sioners, for the administration OF the said
fund, in conformity to the last vsi and tes-
tamen, of the said Alexander Downer, de-
ceased and that the said Board Of Com
missioners, and their successors in office,
be invested with all the powers and au-
tboriries conferred by the Act aforesaid,
and that they be and are hereby further
authorized and empowered, out Of The pro-
ceeds of the sale of the real estate of The
said Alexander Downer, deceased, by the
said Act directed to be made, 10 purchase
q suitable trac, of land, whereon to erect a
school house, conformahly 10 the direc.
lions of The said Act: Prorided, That the
nrice of the tract of land so 10 he pur-
chased. shall not exceed the sum derived
from The proceeds Of the sale aforesaid Of
The real estate of the said Alexander Dow
ner, deceased.
II, That the disbursements Of the said
fund, confornabIy to the last will aud tes-
lament of the said Alexander Downer, de-
ceased, shall be made under the supervi
sion and direction Of the said Commission
ers, by Treasurer, TO bs by them ap-
3oined for that purpose, and removable
at their pleasure which said Treasurer
shall. before he onters upon the duties Of
his appointment, execute a bond to the
Commissioner in Equity forthe District of
Edgefeld, with good and sufficient sure
ties, 10 be approved BY the said Commis.
sionerin Equity, in The penalty of thirty
FIVE thousand dollars, with condition for
the faithful performance of the duties of
such Treasurer, and The administration Of
the fund, and 10 account TO the said Com
missioner in Equity for all moneys. bonds,
notes. and other chooses in action. estate or
effects, appertaining to the said funds,
which may come into his hands. power,
nossession or control, as .such Treasurer; !;
andupon the appointment Of such Treasu-
rer. and The execution Of such bond, as
aforesaid, The said Commissioner in Equity
shall transfer and deliver to the said Treas
urer, all moneys, bonds, notes, and other
chooses in actipn, estate, and effects, In his
hands, apper,aining to the said fund and
the said Treasurer shall collect all debts
dine 10 the said fund. and reinvest the prin-
cinal sums thereof, under The supervision
and direction Of the said Board of Com
missioners; but no loan Of any part of the
said fund shall be made for longer pc
riod than two years, and the interes, of all
loans shall be payable annually, or at short
Intervals, ifthe said Board shall deem II
necessary or expedient.
III. Tha, the said Treasurer shall an
nually render to the said Commissioner in
Equity, au account Of his receipts and ex-
pendiiures for and on account Of the said
fluid, and of the state and condition of the
said fund in his hands, which SAID account
shall be certified by the Board of Commits
sioners, and after being audited and ex-
amined by the said Commissioner in Equi-
~. shall be submitted by him 10 the Court
Of EQUITY, at its next succeeding sitting in