The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1868-03-21
The Constitution.
,ARFICbB~IX..'V =
FINANCE AND TAXATION.

SEQ. /. The General Assembly
snail provide BY law for uniform
and equal rate of assessment and
taxation, hnd shall prescribe such
regulations as sBhah .secufeba Just
valuation for tazatien of all property,
real, fers6nal and possessory, except
mines ahd mining claims, the pro
ceeds of which alono shall be taxed
and also excepting such property as
may be exempted BY laHi for muni-
.cipal. educational, Literary. scientific,
religions or charitable purposes.
SEQ. 2. The General Assem- bly, may
provide annually for q poll tax not
to exceed one dollar on each poll,
which shall be spphejsexcl,isiveiy to
the public school fund. o, And no nd
ditional poll tax shall be levied by
any municipal corporation.
SEC. 3. The. General Assembly
shall provide for an annual tax suff-
cient to defray the estimated expenses
Dfthe State for each year; and when
ever it shall happen that such or
dinary expenses Of the State for any
year shall, exceed the income of the
State for such year, the General AS
sembly shall provide for 1evying tax
for the ensuing year, sufficient, with
other sources of income, TO pay the
deficiency of the preceding year,
together with the estimated expenses
of the ensuing year, JrAl
SEQ. 4. No tax shall be levied ex-
cept in pursuance of law, which
shall distinctly state the object of the
same; to which object such tax shall
be applied. - ,-feg -.
SEQ. 5. It shall be the duty of the
General Assembly to enact laws for
the exemption from taxation of all
public schools, colleges and institu-
tions of learning, all charitable in
stitutions in the nature of ssylums
for the infrm, deaf and dumb, blind,
idiotic and INDECENT persons, all
public libraries, churches and bury
ing grounds; but property of asso-
Citations and societies, although con-
nected with charitable objects, shall
not be exempt from State, County or
municipal taxation: Provided, That
this exemption shall not extend be-
yond the. buildings and premises
actually occupied by such schools,
colleges, institutions of learning,
asylums, j.. libraries, churches. and
buria! grounds, although connected
with charitable objects. ..f s..
SEC. 6. The General Assembly
shall provide for the valuation and
assessment of all lands and the i'm
provements thereon prior to the as
sembling of tho General Assembly
of 1870, and thereafter On every fifth
year. ~. "a
SEC. Z. For the purpose of defray-
ing extraordinary expenditures, the
State may contract public debts; but
such debts shall be authorized by
law for some single object, to be
distinctly specified therein; and no
such law shall take effect until it
shall have been passed by tue vote
of two-thirds of the members of each
branch of the General Assembly,, to
be recorded by yeas and nays ON the
Journals of each House respectively;
and every such law shall levy q tax
annually sufficient to pay the annual
interest Of such debt
Sec. 8. The corporate authorities
of Counties, townships, school dis
tricts, cities, town and villages may
be vested with power to assess and
collect taxes for corporate purposes;
such taxes to be uniform in respect
to persons and property within the
jurisdiction of the body imposing the
same. And the General Assembly
shall require that all the property,
except that heretofore exempted
within the limits of municipal corpo-
rations, shall be taxed for the pay
ment OF debts contracted under au-
thority Of law.
SEC. 9. The General Assembly
shall provide for the incorporation
and organization of cities and towns,
and shall restrict their powers of
taxation, borrowing money, contract
ing debts, and loaning their credit.