The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1871-04-13

the rate at which such new bonds shall be ne
gotiated ). and, for the purposes of this Act,
and in payment of interest on said bonds, and
in the redemption thereof, the pound sterling
shall be deemed to be the equivalent to five
dollars in gold coin of the United States !:
! Provided, That the Financial Agency created
by this Act shallnot be placed in the hands OF
any one person, but shall be entrusted to the
management of responsible Banking House
of first class reputation, IN the New anu Olo
World
SEC. 5. That an annual tax, in addition to
all other taxes, shall be levied upon all the
taxable property within this State sufficient to
pay the interest on the debt hereby authorized,
at the time when such interest shall become
due and payable, and such interest shall be re-
mitted to said Financial Agent in London, and
q further similar tax shall be levied in the
same manner sufficient to provide for Sink
| ing Fund of two per centum in gold per an
mum on the full amount of the debt hereby
created, which Sinking Fund shall be remitted
to the said Financial Agent of the State in
London, to be applied to the redemption and
payment of two per centum of the principal OF
the said Bonds at par. The Bonds thus to be
paid shall be annually drawn, by lot, at such
| time and place. and under such regulations as
the Governor of the State and said Financial
|
| ings the American Minister to the Court of
-St. James in England, or the Secretary of the
American Legation in London, or the Ameri-
can Consul at London, shall be invited to be
present, and to certify to such drawings.
Sec. 6. From time to time, and when any of
the existing public debt of the State shall be
redeemed, by the exchange of the bonds hereby
authorized, or shall be paid from the proceeds
thereof, such debt, so redeemed or paid, and
the evidence thereof shall be forthwith abso-
lutely cancelled, and shall not be re-issued in
any form and the total amounts thus redeem
ep, or paid, shall be annually reported by the
Comptroller General.
Sec. 7. That the faith,, credit and funds of
the State of South Carolina arehereby solemn
ly and irrevocably pledged for the punctual
payment Of the principal and interest of the
debt hereby created, and for the annual re-
demption Of that portion thereof for which a
sinking fund is authorized and the issue by
thorized shall be conclusive evidence, in favor
of any bona fde holder thereof, that the pro-
| visions of this Act have been complied with
| by the State officers, and that such bonds are
legally and properly created.
Sec. s. The honor and credit of this State is
| also hereby pledged to the holder of the debt
authorized by this Act, that this State will not
hereafter by itself, officers or agents. until said
debt is fully paid and discharged, create any
new debt or obligation, or by the loan of its
credit, by guaranty, endorsement or otherwise,
excepting for the purpose of meeting its exis-
ting obligations, or in and for the ordinary and
current business of the State, without first SUBJ
mitting the question as to the creation of any
such new debt guaranty, endorsement or loan
of its credit to the people of this State at a
Al oF
the qualified voters of the State voting on this
question, shall be in favor of a further debt,
guaranty, endorsement or loan of its credit,
none such shall be created or made.
Sec. 9. The Commission herein appointed,
or majority of them, are hereby authorized
to pay such sums as may be necessary for the
purpose of carrying this Act into effect, out of
any funds Of the State not otherwise appropria
ted.
Sec 10. For the purposes of this Act and to
carry out the same, all Acts, or parts of Acts,
inconsistent with this Act, are hereby repealed.
Approved, March 7th, 1871.
AN ACT TO AMEND AN ACT ENTITLED GAN ACT
PROVIDING FOR THE ASSESSMENT AND TAX.
ALTON OF PROPERTY" PASSED FIFTEENTH
OF SEPTEMBER, 1868, AND ALL ACTS AMEND
AToRY THERETO.
SECTION l. BE it enacted by the Senate and
House of Representatives of the State of South
Carolina, now met and sitting in General As
sembly, and by the authority Of the same, That
so much of an Act entitled can Act providing
for the assessment and taxation of property"
approved the fifteenth of September 1868, and
all Acts amendatory thereto, as provides for
the appointment and pay of District Assessors
and assistants, be, and the same is hereby re-
pealed; and hereafter it shall be the duty of
the County Auditors to receive the returns and
make the assessments provided for in said Act,
within the times prescribed by law, and for this
purpose, the Offices of the County Auditors
shall be kept open to receive the returns of tax
payers, during such times as is now, or may be-
hereafter fixed by law.
SEC Q That the various County Auditors
be, and they are hereby, authorized to appoint
q sufficient number of assistants to enable them
to complete the said assessment within the time
fixed by law, and to defray the expenses of ma
king said assessment, the said Auditors shall
draw their warrants annually upon the County
Treasures, to be approved by the County Com
missioners, for such sums rs may be necessary,
Auditor of Charleston County, two thousand
dollars the Auditors of Richland, Orange
burg, Edgefeld, Beaufort, Barnwell, Colleton
and Abbeville Counties, one thousand dollars;
the Auditors of Chester, Darlington, Fairfield,
Greenville, Marion, Sumter and York Coun-
tics, eight hundred dollars; the Auditors Of
Georgetown, Kershaw, Laurens, Lexington,
Newberry, Spartanburg and Union Counties,
seven hundred dollars the Auditors of Ches-
ter6eld, Clarendon, Marlboro and Williams
burg Counties, six hundred dollars; the Audi
tors of Anderson, Horny, Lancaster, Oconee
and Pickens Counties, five hundred dollars
each.
Sec. 8. That whenever any taxpayer shall
County, within the time prescribed by law, it
shall be the duty of the County Auditor to en-
ter on the tax duplicate against such tax payer,
the property charged to him the previous year,