The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-12-21

continue to bring, upon the country ge-
nerally, overwhelming oalamitics.
In conclusion, your memoriaIists re-
spectfully declare to the General Assem-
bly,. that their detraotors are malignant
political opposers, whose designs are d.
reoted to the oppression and exclusion
from oil participation in the Offices and
honors of the country, the colored race,
whose representatives are rightfulIy in
the asce cendancy in tho City Council Of
Columbia.
They. therefore. come to this General
Assembly, asking the passage of tue bill
they have presented, in order to the full
fllment OF their public trust with sue.
cess, honor and fidelity.
And your mem0rialists will ever pray.
JOHN ALEXANDER, Mayor,
On behalf City Council of Columbia.
COUNCIL CHAMBER, Dec. 10, 1871.
DERMRN OF THE CITY OF COLUMBIA TO
ISSUE BONDS, AND TO NEGOTIATE AND
SELL THE SAME.
Representatives of the State of South Ca
rolina, now met ana siAino in General As-
sen'6!y, and by the authority of The same:
SR0TIoN i. That the Mayor and Alder
men Of the city OF Columbia are hereby
authorized and empowered to borrow
money. by issuing city bonds, from time
to time, to an amount which, together
With the outstanding indebtedness Of
the city of Columbia, shall not exceed
the sum of $500, 600; it being hereby in
tended that the whole Indebtedness
thereof, whether by bonds or otherwise.
shall at no time be increased beyond the
said sum of S8O0,O0O.
SEQ. z. That one moiety, or half, of
each issue Of the said bonds, shall be OF
the denomination Of 81, 600, one-fourth
part thereof OF the denomination of
$500, and the remaining one-fourth part
thereof shall be of the denomination of
$3.50; each and ali OF which bonds shall
be signed by the Mayor OF the oity, and
countersigned by the City Clerk and
Treasurer, and sealed with the corporate
seal, aud numbered oonsecutively Each
OF said bonds shall be made payable at
twenty years from the date thereof, and
shall bear interest OF the rate of eight per
centum per annum, payable semi-annu-
ally, on the first day of January and the
first day Of July, OF each year, with cor
responding semi-annual interest cou-
pons. signed with the written signatures
of the City Clerk and Treasurer.
SEQ. B. That no bond shall be issued,
under the provisions OF this Act, other
wise than by sale at public outcry, of
which sale public notice shall be given,
for at least fifteen days, in two or more
newspapers printed in this State, one of
which shall be published in the city of
Columbia, which notice shall specify the
time aud place of sale, and the amounts
and numbers of bonds to be sold; and
the said Mayor and Aldermen shall keen
a record of all such sales.
SEC. 4. That the said Mayor and AL
dermen shall keep registry Of all bonds
heretofore issued and now outstanding,
and of all bonds which shall be issued
under the authority of this Act, showing
the number and amount of each bond,
the date when issued, and the date Of
maturity, which registry shall, at all
times, be open to the inspection of any
corporator, taxpayer or bond-holder,
and at any time, upon the written de-
mand OF the holder or holders of bonds
to the amount of $4,000, or of corpo-
rators to the number of twenty. the said
hInyor and Aldermen shall publish de-
tailed statement of the CITY indebted.
ness, and the character of the same.
verified by the oaths Of the Mayor and
of the City Clerk end Treasurer.
SEC. 5. That, in addition to the levy
OF the annual taxes for the support Of
the city government. the said Mayor and
Aldermen shall levy. annually, specinl
tax for the payment Of the semi-annuai
interest upon the bonds which shall be
issued under the authority of this Act.
and also the interest upon the bonds of
the oity Of Columbia which have been
heretofore issued by authority of law: ::
Provided, Aoweoer, That said bonds shall
not be subject to taxation by the State or
by the said Mayor and Aldermen: And
provided further, That the taxes hereby
authorized to be levied and collected for
the payment of the semi-annual interest
on the said bonds shall be levied and COL
lected from such sources. upon such pro
perty, and at such rates, as are esta-
blished and designated by law as sources
OF revenue, subjects or objects of taxa
ton, and 0s rates for the support of the
said city government.
SEC. e. That the snid Mayor and AL
dermen are hereby authorized and di-
rooted to apply the proceeds of the sale
OF said bonds, frat, to the payment OF
any debts heretofore contracted, or which
may hereafter be contracted for the con-
struction of the new City Hall and the
new market; and. secondly, for the i'm
provement of the streets, the extension
of the water works, and for any other
improvements which shall be judged ad-
visable by the said Mayor and Aldermen.
Sec Z. That the said Mayor and AL
dermen are hereby prohibited from in.
creasing the debt Of the city of Colum-
bia beyond the sum mentioned in the
first section OF this Act; and, upon any
attempt being made so to do. any bond
holder or corporate taxpayer shall have
his action &c snjoin tho said mayor and
Aldel men from &C doing.
SEQ s. That tho aaid Mavnr and AL