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


ers as being completed according t
contract.
Sec. 2. That the said. Commission
ers are further auth orized and EN-
powered to purchase a suitable sit
for a new Court House in the city
Columbia, and TO take the titles there
for, executed to the State of Soutl
Carolina, to, and for the use of, sai'
county.
SEC. 5. That the said Commission
ers are further directed, authorized
and empowered 10 build and erect
new Court House upon the site select
ed, as provided in section 2 of thi
Act, and that the contract for tn
erection Of such building shall not b
binding or valid until approved b,
the Circuit Judge Of the Fifth judi
Gil Circuit, and the Clerk Of tn,
Court of Common Pleas for Rlchlant
county.
/ Approved March y, 1Siz.
AN ACT to authorize tile M3ay5va' a,st
Aldermen of the City Of C0latm6lt
10 Issue Bonds, and to Negot'at
and Sell the Same,
SECTION l. Be 1t enacted by the
Sonato on1 House of Represent atlve:
of the State of South Carolina, now
met and sitting in General Assembly
and by the authority Of the same
That the Mayor and Aldermen o.
the city of Columbia are hereby au'
thorized and empowered to borrow
money, by issuing city bonds, from
time to time, to an amount which, to-
gether with the outstanding indebt;;
edness Of the city of Columbia, shall
not exceed the sum of six hundred
thousand dollars, it being thereby
intended that the whole Indebtedness
thereof, whether by bonds or other,
wi7e, shall at no time be increased
beyond the said sum of six hundred
thousand dollars: Provided, That,
before such issue, the City Council
shall recall and cancel the bonds is
sued, to the amount Of two hundred
and fifty thousand dollars, issued Au-
gust 2i, 1871, for the erection of a
City Hall and Market; And proyld-
ed, further That no part OF said
bonds shall be used for the purchase
of any franchise or corporation.
Sec. 2. That one moiety, or half Of
each issue of the said bonds, shall be
of the denomination Of one thousand
dollars one-fourth part thereof of
the denomination Of five hundred dol
lars; and the remaining one-fourth
part thereof shall! be OF the denomi-
nation of two hundred and fifty dol
lars, each and all Of which bonds
shall b, signed by the Mayor of the
city, and countersigned by the City
Clerk and Treasurer, and sealed with
the corporate seal, and numbered
consecutively from one to six hun
dred. Each OF said bonds shall be
made payable at twenty years from
the date thereof, and shall bear inter-
est at the rate Of seven per ccntum
per annum, payable semi-annually, on
the first day Of January and the first
day ol July each year, with CORES
ponding semi-annually interest cou-
.pons, signed with the written sigma
t1re of the said City Clerk and Treas
urer.
SEC. 5. That no bond shall be ne
gotiatcd under the provislons,of this
Act otherwise than BY public sale,
notice Of which sale shall be given
for at least thirty days in one news
paper published in Columbia, one i'll
charleston, and two in the city Of
New York, and that the sale OF all
such bonds shall be made by the
Treasurer of the city Of Columbia ;
Provided, That all such sales and ne
gotiations shall be conducted i'll &C
cordance with such rules and regula-
tions as the City Council may pre-
scribe.
SEC. 4. That the said Mayor and
Aldermen shall keep registry of all
bonds heretofore issued and now out
Standing, and Of all bonds which shall
be issued under the authority Of this
Act, showing the nulAoer and amount
Of Gael. bond, the date when issued
and tie date OF maturity, which reg
islry shall at ali times be open to the
inspection Of any eorpo:ator, tax
payer or bond-holGer, and, at any
tiu.e, upon the written demand Of the
lloilicr or holders Of. bonds TO tic
a.nount Of fifty thousand dollars. OIL
OF corporators to the number OF lwen-
ty, the s.ii'l Mayor and Aldermen
ball publish i detailed statement o.
tic CITY Indebtedness ana the charac-
ter OF the same, verified by the oath,
f'tlc MAYOR and OF the t'ity C,egk
anl Trca urer.
SEc. ). That, in addition TO The
lew ci the annual faxes for tic sup
port ci lie city government, tic aalc
Niavor and Aldermen shall levy, an
ny.,l!y, Especial tax for the payment
oi the serIl-annuaI interest upon tho
bonds which shall be issael un'
der tie authority Of this Act; and
also, the interest," upon the bonds o
the city Of Columbia which have beer
heretofore issued by authority of law
Provided, however, That said bonds
SHALL not be subject to taxation by thc
said Cry Council OF Colambii,; Anc
provided, further, That the taxe
Hereby authorized to be levied ant
collected, for the payment of th'
seIn-annual interest on the said bonds
shall be ,evied and collected from
such sources, upon such property, ant
at such rates as are established ant
designated by law rs sources Of rev
enuc, subjects, Or objects Of taxation
and as rates for the support Of tn
said city government.
SEC. 6. That the said Mayor an:
Aldermen are hereby authorized ant
directed to.apply the proceeds of tn