The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1872-04-04

to said County Treasurer, and all persons re
quiripg the same, such information as the re-
cords of his Office may afford relative to the
matters involved in said sale, and upon the
delivery of the Treasurer's certificate OF sale,
to execute a deed in accordance with section
SO, chapter 13, title 3, of the general statutes
of South Carolina.
Sec. z. That this act. shall take effect from
and Immediately after its passage, and that all
visions of this act be, and the same are hereby
repealed.
Approved March IL, 1872.
49,. '-r--,e-, ..,.-." -
AN ACT RELATING TO THE BONDS OF THE
STATE OF SOUTH CAROLINA.
Whereas bonds or obligations of this State
have been issued, from time'to time, to large
amount, in accordance, as was supposed 6y the
officers issuing the same. with the authority
and provisions of certain acts of the General
Assembly, including "an act authorizing a
loan to redeem the obligations known as the
Bills Receivable of the State of South Carroll
ma" approved August 26, 1858; also, "an act
to authorize State loan to pay interest on the
public debt" approved August 26, 1858 also
tan act to provide for the appointment OF
Land Commissioner, and to define his powers
and duties" approved March q, 1869; also,
'"an act to amend the last named act, and for
other purposes approved March /, 1870; also,
Haniact to authorize loan for the relief OF the
Treasury" approved February IL, 1869; also,
"an act to provide for the conversion OF State
securities" !" approved March %, 1869; and "an
act to authorize the Financial Agent OF the
State of South Carolina, in the city of New
York. to pledge State bonds as collateral secu-
rity, and for other purposes" approved March
26, 1859; which said bonds are fully stated and
set forth in a report made by the Treasurer. OF
the State to the General Assembly, dated 0cto-
Der, 81, 1871 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 or obligations should be made IN the
manner in which the same have been made, as
aforesaid, and, whereas, also, doubts have been
raised IS to the validity OF some :of the ponds
mentioned in the said annual report OF the
State Treasurer, for the fiscal year ending with
October 81, 1871, although money has been
borrowed by, or realized out of, said bonds on
account of this State, and whereas the credit OF
this State has been affected thereby;
Section l. Be ii 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 the said bonds and obligations, issued
on behalf of this State, as mentioned and set
forth in the report of the Treasurer OF this
State to the General Assembly, dated October
81, 1871, were duly and lawfully issued in con.
formity with the true intent and meaning OF
the several acts of the General Assembly,
hereinbefore set forth by their respective IT,
ties.
Sec. Q. That the acts of the officers 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 enumerated and set
forth in the said report of the Treasurer, be,
and are hereby, in all things, ratified, confirmed
and established, - 49,,
Sec. 8. That each and all of the bonds named
10 said annual report of the Treasurer OF this
State for the fiscal year ending with October
81, 1871, be, and the same are hereby, declared
to be legal and valid bonds of the State OF South
Carolina, for the payment Of which the faith,
credit and funds of the State have been, and
are hereby pledged; provided, that no bonds
be included which are not; registered in the
Treasury at the time of the passage of this act
as provided for in section IA, article OF the
Constitution, relating to finances and taxa
ton. -
Sec. 4. The section of each of the acts under
which said bonds purport to be issued, Which
provides for an annual tax to pay the interest,
Is hereby declared to be part of this act; an
annual tax, in addition to all other taxes, shall
be levied upon the property of the State sufti.
cient to pay the interest on the bonds named
in. or provided for by this act, until the princi-
pal of said bonds shall become due, such pay
ment to be made in United States currency
only.
Sec. S. Hereafter every bond converted or
issued. under OF in pursuance OF any OF the
laws of this State, shall be Of the description
and style of those heretofore issued under an
act entitled "an act to provide for the conver-
sion of State securities" approved March ~,
1869, SO that all the bonds of this State shall
be of sone description and style, as soon as the
exchange can be made; provided, that all bonds
of the State of South Carolina, converted into
stock of said State, and all stock of the State
of South Carolina converted into conversion
bonds of the State as provided in the act here
inbefore mentioned, approved March %, 1869,
shall be cancelled Immediately upon the con-
version of the same, and retired from issue or
TG.
Sec. 6. All bonds heretofore authorized to be
issued, shall be issued in pursuance OF, and in
conformity with, the provisions of this act, and
shall be converted into bonds, of the style and
description named in the next preceding Sec
ton, as speedily as the same can be done.
Sec. g., That neither the sum nor sums real, !.
lied from any sale or sales Of any of the bonds OF
this State, nor the manner OF sale OF any OF
the bonds of this State, shall in any manner
affect or impare the validity and obligation
thereof
Sec. s. The Governor is hereby authorized
and required to sign all the bonds named in
this act. The State Treasurer is authorized and
required to countersign the same. And the
Secretary of State is authorized and required
to affix the seal of the State to the same with
out delay; provided, that no bonds shall be
signed by the Governor, or countcrsigned by
the State Treasurer, except for the conversion
of bonds or stocks already issued pursuant to
law.
Sec. 9. Nothing contained in this act shall
authorize the issue or conversion of any bonds