Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-04-04


same as often as they shall deem neces
sary-
SEC. 2. Amd be 1t fawtha"enacted
That this Act shall be deemed. and ia
ken to be public Act, and shall con
tinue in force for the term of twenty
years, and until the next meeting OF thf
General Assembly thereafter, and nc
longer.
Approved March 9, 1872.
AN ACT Relating to tie Bonds Of th'
State Of South Carolina.
|. Whereas bonds or obligations O.
this State have been issued, from time
to time, to large amount, in accord
ance, as was supposed by the officers
issuing the same, with the authority
and provisions. of certain Acts of the
General Assembly, including Al
Act to authorize a loan to redeem the
obligations. known as the Bills Re
ceivable of the State of South Caro-.
lina," approved August 2G, 1868
also, can Act to authorize a State
loan to pay interest on the public
debt" approved August 26, 1868
also, An Act to provide for the ap'
pointment of Land Commissioner
and to define his powers and duties,
approved March 81, 1860; also, Gar
Act to amend the last named Act
and for other purposes, approved
March l, 1870; also, =" An Act to au-
thorize loan for the relief Of the
Treasury" approved February H.
1869; also, Gan Act to provide fol
the conversion of State securities,
approved March %, 1869; and "An
Act to authorize the Financial Agent
of the State Of South c lrolina, in the
city of New York, to pledge State
bonds as collateral security, and for
other purposes" approved March 26,
1869; which said bonds are fully and
particularly. stated and set forth in a
report made by the Treasurer of the
State to the General Assembly, dated
Oataher-3 81, ISL and-whereas. doubts
have arisen whether said issues were
in strict conformity to the provisions
of the SAID several Acts under which
they were respectively issued; and,
whereas it Was the true intent and
meaning of the several Acts above
set forth that such issues Of bonds OF
obligations should be made in the
mahner in which the same have been
made, as aforesaid; and, whereas,
also, doubts have been raised as to
the validity Of some Of the bonds
mentioned in the said annual report
of the State TreQsurer, for the fiscal
year ending with October 81, 1871,
although money has been borrowed,
or realized out Of, said bonds Oh ac-
count Of this Stote; and, whereas the
credit Of this State has been affected
thereby:
SECTION l. BE IL enacted by the
Senate and House of Representatives
of tine State of South Carolina, now
met and sitting in General Assembly,
and by the authority Of the same,
That the said bonds and obligations,
issued on behalf of this State, as men
toned and.sct forth in the report Of
the Treasurer of this State to The
GeneralAssembly, dated October 3lst,
1871, were duly and. lawfully issued
in conformity with the true intent
and meaning Of the several Acts Of
the General Assembly, hereinbeforc
set forth by their respective titles.
SEC. 2. That the Acts Of the off,
GERS Of this State, authorized under
the provisions of the laws Of this
State, and of the several Acts here
inbefore referred to, TO the extent Of
all issues Of bonds or obligations emu
merated and set forth in the said re-
port Of the Treasurer, be, and arc
hereby, in all things, ratified, con.
frmed and established.
Sec. 5. That each and all of the
bonds named in said annual report o.
the Treasurer Of this State for the is'
cal year ending with October 5lst
1871. be, and the same are hereby
declared to BE- legal and valid bonds
Of the State Of South Carolina, fol
the payment of which the faith, cred
it and funds of the State have been
and are hereby, pledged -Providcd
That no bonds be included which arc
not registered in the Treasury at the
time Of the passage of this Act, al
provided for in Section Ia, article 9
Of the Constitution, relating to finance
and taxation.
SEC. 4. The Section of each of thu
Acts under which said bonds purpor
to be issued, which provides for al
annual tax to pay the interest is here
by declared to be part of this Act
and an annual tax, in addition to al
other taxes, shall be levied upon th'
property of the State, sufficient topay
the interest ON the bonds named in
or provided for, by this Act, until th'
principal of said bonds shall becom'
due, such payment to be made in Uni
ted States currency only.
. Sec. 5. Hereafter every bond con
verted or issued under or in pursu
ance of any of the laws of this State
shall be of the description and styl
, of those heretofore issued under al
Act entitled "An Act to provide 70
the conversion of State Securities,
approved March 23d, 1859, 50 tina
, all of the bonds of. this State shall b
of one description and style, as 500
as the exchange can be made: Prov
aed, That all bonds of the State {
South Carolina converted into stoc
~, II C4ot. aal Ill .Iool- of IN