Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1860-01-14
Acts of the Legislature.

sioncrs of Roads of certain Districts to make
subscriptions to the Grecnvilc and French
Broad Railroad, and to the Blue Ridge Rail
road in South Carolina.
/. BE Il cpdctcd by the Senate and House
.of Representatives, now met and sitting in
General Assembly, and by the authority of
the same, that the Eoard of Commissioners Of
Roads for each of the Districts Of Spartan
burg, Union, Fairfield and Richland be au-
thorized, at any time after the passage of this
Act, to subscribe such sums as the separate
Boards,f the respective Districts may deem
cxpedcnt, to the capital stock Of the Green
vile and French Broad Railroad Company, in
manner hereinafter provided for, subject to the
approval of the citizens of the respective Dis
trictS, as hereinafter expressed
III. The separate Boards of tho respective
Districts shall, for the purpose Of submitting
to the legal voters of each OF their several
Districts, who are taxpayers the question of
"SubScrption or " no subscription" to the
said Company, have power to direct the ClUTk
of the Court of Common Pleas to issue writS
of election to the Managers of the General
Elections, ordering an election to be held at all
the election precincts of the District urwhich
such Board shall act in which election the
ballots cast shall have written or printed there
on either the word subscription" or the
word quo subscriptions" The said Commits
sioncrs having first, by resolution of their
Board, fixed the amount proposed to be sub
Seribcd, which resolution shallbc published by
Ethc Chairman OF the Board fur twcnty,one
days previous to the election
HI. 1t shall be the duty of Managers to
make returns, and meet ut the Court House,
and count the votes, and declare the result,
as in other. elections; which result Shall be
certified inswritinG, by the Chairman of the
Board of Managers of Elections to the Char
man of the Board of Commissioners of Roads
IN. In case the majority of the ballots cast
in the whole District shall have written or.
printed thereon subscriptions" then the
Chairman OF the Board Of Commissioners Of
Roads shall be authorized and required to
subscribe to the capital stock of the Grccuvillc
and Fronch Broad Railroad Company what
ever sum may have been fixed and named in
the resolution of the Board of Commissioners
of Roads, aud published as hcrciubcfore pro-
vidcd for.
| V. For the payment of the stock so sub
scribod, the Chairman of the Board of Com
missioners of Roads shall be authorized and
required to issue coupon bonds, to be received
| by said Company at par, by the Clerk Of said
Board, bearing interest at the rate of seven
| lbGI CSIIuul per uuuuIl, puIdDle Stlll-uilHuil-
| ly, at any of the Banks in Charleston or Co
lumbia, which bonds shall be payable in such
instalments as the said Board of Commissions
ors of Roads shall determine.
VI. For the payment of the interest on
said bonds, the Board of Commissioners of
Roads and Bridges shall bc authorized and
required to levy, annually, q Railroad tax, in
like manner as they now levy Road and
Bridge tax, of such amount as will be suhi.
cent to pay the said interest, And also, that
within tcnsyeaps, of the time said bonds shall
fall Hue, the said Board of Commissioners
shall levy and collect a tax necessary to pay
the bonds as they fall due, which tax shall be
paid to the Treasurer of said Railroad Com
pany, as sinking fund.- to be invested by
him in stock of this State
VII. That in collecting The taxes for the
said Railroad, as provided for in the sixth
section of this Act, the respective tax collcc-
tors shall deliver to the tax payer special
receipt therefor, (to be provided by the said
Railroad Gompany) which shall express
therein that the amount stated is a tax for the
said Railroad and, whenever any person, a
holder of such receipt, issued in his own name,
or in that of another person, and duly trans
ferrcd to such holder, by the endorsement
thereon of the name of the person to whom the
same was issued, shall present an amount there
of equal to one share of the stock of the said
Company to the President of the said Com
pany, the said President shall cause to be is
sued to the holder of such receipts one share
of the capital stock of said Company and
such person shall be stocl holder of said Com
pany from the date of the scrip for such
stock, SO issued as aforesaid and the like pro
ccedings, and rights and liabilities shall be
had and attached to any person who may pre-
sent such tax receipts amounting to more
than one share Procacd, That said scrip
shall not be issued for any fractional part of
a share.
VIII. That the same power and authority
shall be vested in the Boards of Commission
ers of Roads and Bridges for the Districts Of
Anderson and Picbcns, empowering them to
subscribe to the capital stock of the Blue
Ridge Railroad Company in South Carolina
as is herein provided for tho Districts of Spar
taaburg, Union, Fairfield and Richland, au-
thorising said Districts to subscribe to the
Grecnville and French Broad Railroad Com
pany; and for the payment of tho stock so
subscribed, the chairman of the said Boards
shall have like power to issue coupon bonds
as is above provided, and the respective Boards
@ay levy, raise and apply a tax, for payment
fof principal and interest of said bonds, in like
manner asis provided as to the Commissioners
of Roads for .Spartanburg, Union, Fairfield
and Rchland Districts.