The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1872-10-16

thcr by bonds or otherwise. Sh;!
AZ 10 time he Increased beyond th
SAID sam d six hundred thou>ar
dollars: Proriicd, That, br'o!
! such Issue. the City Council Sha
recall aNi cancel Tie bonds issue,
! to the amount OF two hundred ri
fifty thousand dollars, issued 1T
gust 2l, 1871. for the erection G
! City Hall and Market: AMI prG
, cifed, furti@r. That no part OF sal
: bonds shall be used far the pul
chase Of any franchise or corpora
ton.
Sec. That one moicty, or half
Of each Issue Of the said bonds
shall be OF the denomination o
: one thousand dollars; one fOurtE
part thereof, OF tie denomination
Of five hundred dollars; and th'
remaining onc-fourth part thcrco
shall be Of the denomination 0
two hnIdred and fifty collars, cacl
and all Of which bonds shall b,
signed by the mayor Of the ely
and countc">isncd by the Cit!
Clerk and Treasurer, and scaIel
with the corporate seal, and nun
hcrcd c0ns2cutiv"ly from oue tt
six hundred. Each OF said bonds
shall be made payable at twenty
years trom6he date thereof, and
shall bear interest at the rate 0!
seven per ccntum per AMMAN, pay,
able srmi-annuaIiy, on the first
day Of January and the first day
Of July Of e"ch year, with CORES,
ponding Scmi,annual interest coa-
pens. signed with the written >iy-
nature Of the said City Clerk and
Treasurer.
SEC. 3. That no bond shall be
negotiated under the provisions OF
This Act otherwise than by public
sale, notice Of which shall b. given
for at least thirty days in one
newspaper Published III Columbia.
one in Charleston. and two in the
City Of New York. and that the
sale Of ali snch bonds shall be
made by the Treasurer Of the city
Of Columbia; Provided, That all
Sucn sales and negotiations shall
hc conducted in accordance with
Snch rules and regulations as the
City Connc!I may prescribe.
SEC. I. Tt,1t the sail Mayor
and Aldermen shall keep Il regis.
try Of al bonds heretofore issued
and now outstanding, and Of all
bonds which shall bI issued under
the authority of this Act, showing
tie number anil amount Of each
bond. the date when i>Snch, and
the date Of maturity, which regis
try shall at all times be open to
the inspection Of any corpora.or.
taxpayer or bond-hoIder, and, at
Cny time, upon tie written de-
mand Of the holder or holders of
bonds to the amount Of fifty thou
sand d"Iiars, or Of corporatorS to
the number Of twenty, the said
Mayor and Aldermen shall puh-
ii>h Il detailed statement of the
city Indebtedness and the charac-
ter Of the same, verified by the
oathS Of the Mayor and f thcCity
Clerk and 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, Il special tax
for the payment Of the semi,annu-
al interest upon the bonds which
shall be issued under the anthori-
~ OF this Act, and, also, the into
rest upon the bonds, of the city
of Columbia, which have been
heretofore issued hy authority Of
law Provided, however, That
said bonds shall not be subject to
Il taxation by the said City Coun-
Til Of Columbia: And provided,
farther. That the taxes hereby
to be levied and col
iectci, for the payment Of the
Scmi,annHal Interest on the said
bonds, shall be levied AMI collect
a'! from such sources, upon such
property. and at such rates, as arc
established and designated by law
As sources OF revenue, subjects or
objects Of taxation, and as rates
'nr the support Of the said City
Government.
Sec. 6. That the aaid Mayor
and Aldermen arc hereby autho-
'lzcd and directed to apply the
proceeds OF the sale of said bonds;
first, TO the payment of any debts
ncrrt"tore contracted, or which
may hereafter be contracted for
he construction Of the New City
Hall, and the New Market; and,
'e"ondIy; for the improvement Of
he streets, the extension OF the
.rater works. and for any other
improvements which shall he
judged advisable by the said May
u and Aldermen. Provided. That
10 part OF said bonds shall be used
or the purchase Of any franchise
'r corporation.
SEC. Z. That the said Mayor
md Aldermen are hereby proii;b-
ted from increasing the debt Of
nc City OF Co!amhia. beyond he