The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-04-10

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/ ,ofHER PURPoSEs ,TMRhRM AENTIoiRD.
SEWIoN 1. Be i endctsa By the Senate
and Houss Of Representatives Of the
State OF South Caroline, now met and
aitting in General Assembly, and by. the
authority Of the same, The Treasurer
Of the State is hereby authorized and
directed to issue to the Land Com'mis-
sioner bonds OF the State, in the sum Of
fiye hundred thousand dollars. with
coupons attached, II in the opinion of
the Advisory Board so much be neces-
sary, bearing six per cent interest; the
principal payable within twenty years,
at the Financial Agency OF this State in
the city of New York; the; bonds TO be
signed by the Governor and counter
signed by the Treasurer of the State,
and the coupons to be signed by the
Treasurer of the State; which bonds
shall be negotiated in such form and
manner as the Advisory Board, by a
majority of votes, shall determine. The
faith and credit Of the State is hereby
and interest of said bonds; and sulfi-
cient amount of taxes is hereby levied
to pay the interest accrnipg ON said
bonds annually.
SEQ. 2. The Land Commissioner shall
be subject to the action of majority Of
the Board, and any purchase or sale of
property made without their advice or
consent shall not be valid
SEC. 3. That no purchase shall be made
without the certain knowledge of the
Commissioner that he will be able to sell
the same without delay.
SEo 4. That all Acts or parts of Acts
inconsistent with this Act be, and are
hereby, repealed.
Approved March 1, 1870.
Ar ACT TO PROVIDE FOR SINKING FUND,
AND THE MANAGEMENT OF THE SAME.
SECTION 1. Be it enacted by the Senate
and House of Representatives of the
State of South Carolina, now met and
sitting in General Assembly, and by the
authority of the same, For the purpose
of paying the present Indebtedness of
the State, and the interest thereon, and
such further indebtedness rs may here
Governor, the Comptroller General and
the Attorney General of the State, the
Chairman Of the Finance Committee of
the Senate. and the Chairman of the
Committee of Ways and Means of the
House of Representatives, are hereby
constituted Commissioners, to be known
aud designated as ''The Commissioners
of the Sinking Fund.-" to receive and
manage the incomes and revenues here
after set apart and applied to the Sink
ing Fund of the State.
SEQ g. And il shall be the duty of said
Commissioners to sell and convey, for
and on behalf of the State, all such real
or personal property, assets and effects
belonging to the State rs is not in actual
public use, said sales to be made from
time to time in such manner and upon
such terms as they may deem most ud-
vantageous to the State. The proceeds
of all such sales shall be set aside, and
awarded to the Sinking Fund of the
State. This Act shall not be construed
to authorize the sale by the Commits
sioners, of any property held in trust for
o specific purpose by the State, or the
property of the State in the phosphate
rocks, or phosphate deposits in the beds
Of the navigable streams and waters of
the State.
SEQ. 3. The Commissioners shall an
nunlly report to the General Assembly
the condition of the Sinking Fund, AM
Herewith; and oil the revenues derived
from such sales shall be applied to the
extinguishment of the public debt, by
investing the same in the public securi-
ties of the State.
Approved March 1, 1870.
JOINT RESOLUTION FOR THE RELIEF OF
MARY TAYLOR.
Be itereSolpe6 by the Senate and House
of Representatives of the State of South
Carolina, now met and sitting in Gene
raj Assembly. and by the authority of
the same. That Mary Taylor. of the
County of Newberry. be. and she hereby
is, invested with the title in fee simple
OF the following real estate, to wit: All
that piece or parcel of land bounded by
lands of George Derrick, George Wise,
Michael Sheely and others, and on the
Saluda River, purchased from Michael
| Shealv in 1887 cnntnininp fiftv ocrea