The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-09-26
ACTS PASSED BY THE LEGISLATURE.
TIE EXTRA SESSION OF 1866.


OFFICIALLY PUBLISHED IN THE pHl1NIX
AN ACI CHARLESTON
@ IN THE MATTER OF FIRE LOAN
Whereas the City Council day
of August in the sixty pass an
Ordinance to assist the rebuilding Charleston
and provisions of which Ordinance a follows:
GAN ORDINANCE DISTRICTS AND WASTE
PLACES N CHARLESTON.
Sec l. BE ordained by the City
assembled purpose aiding in the rebuilding Of the cv
OF Charleston lying ruins the Mayor of
the city be- and he hereby authorized directed
City Charleston to issue seven Der cent common n1 10
counersigned City Treasurer exceeding in ALL the sum Of
two millions OF dollars which shall payable January
the year eight hundred and ninety the Interest to be-
paid annually issued from time to time in
such form and for such a pur1ose
the thereon made PAYABLE New York v
and that the faith and funds and the same
are hereby pledged for the payment principal
bonds and every sum and suns Of nv Which
be received the City repayment of the loans hereby
authorized shall be- and they hereby appropriated
special fund for the redemption xngsmen of said bonds and
interest.
Sec That Special Council consisting of the Mayor
Committees of Council be- and make loans
OF sad bonds to such applicants rebuild the waste
places and burnt districts city Charleston erect improve
ments their lots following regulations VIZ
JaAosE Any applicant desiring to build Ordinance
%s :S 5 ?;r st: Fl" 4s
at lot Of s the Ss sn se % tho % % &
q said SAID ssSis n :
% a S dsaea sha p ess t M s S has been done
shall be made for the erection any buildings M
condition said City Caunci principal sum of
whatever be loaned him equal instlments the first
PAYABLE within three years from date of ond aso
payment OF the interest quarterly advance;
don that the money loaned hn within receipt
and ornices of incombsbe land and
and Of % e acts a e" ha n am e t M % ;s
thereto and of tho law relation building city, and the said
such form shall be prescribed by the Assembly Of State
ana sand mortgage should
o or assigns either personally served published
one more public gecs of the city
the best that same which said Sale shall
be advertised for three weeks previously aze
sad bond and surplus that shall obgo
his executors, administrators o. assigns i o'
CLAUSE Whenever the
~ e erection OF buildings aforesaid the applicant
esa representatives assigns make application loan
same has been applied as aforesaid effect the
0 Gouncil hal make further loan equal in
the improvements thereon; which said in said
OF the lot or lots to onethirl the estimated buildings
the amount already actually expended aerccay t., til"
provisions of this Ordinance, and that :hc said building have
been completed that aggregate loans does not ex
cee the value of the buildings second and third
loans respectively good policy upon property to the
extent OF the amount loaned shall applicant and as
signed to the City Council made yor That
any policy shall be deemed sufficient NAV
be CUSTOMARY for insurance Offices here single
dnona loans shall be taken subject the
be secured IN the same the first, mortgage
may De SO drawn originally embrace all which
any applicant under this Ordinance
of the penalty Of said
CLAUSE 4 The valuation upon which loans are to
CLAUSE g. The interest tho shall at the
rate OF seven per cent per anh'n payable
CLAUSE G. In all the advance loans
respectively the borrower shall be
such ioan much thereof
nnetore provided and assign the policy policies to the