Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1873-04-24
&eaaiua fpr the Sabbath. 1yaws ut Sonth Garolina
AN ACT

To authorize certain counties to issue bonds and
loan thesame to aid the Charleston, Georgetown
and Conwayboro Railroad Company.
Be it enacted by the Senate and House OF
Representatives of the State of South Carroll
ma, now met and sittingin General Assembly,
and by the authority of the same:
Section l. That the several counties of this
State through which the Charleston, George
town and Conwayboro Railroad Company
shall build and operate its railroad, or any
branch thereof, be, and they are hereby, au.
thorized and empowered to issue bonds and
loan the same to the Charleston, Georgetown
and Conwayboro Railroad Company, sub ubject
to such conditions and provisions as hereinaf-
ter mentioned.
Sec 2. That the commissioners OF election
of the several counties through which the
Charleston, Georgetown and Conwayboro
Railroad Company propose to build their
railroad shall order and cause an election to
be held within ninety days after receiving a
request, in writing, from the board Of direct
ors of the Charleston, Georgetown and Con-
wayboro Railroad Company, asking that such
an election be held; thirty days notice of the
same shall be given, for the purpose Of giving
to the voters of the county an opportunity OF
voting for the granting of such aid, or against
the same. The voting shall be by ballot
either written OF printed, or partly written
and partly printed, and shall contain the
words: aid to the Charleston, Georgetown
and Conwayboro Railroad Company-Yes; !;
or the words: "Aid to the Charleston, George.
town and Conwayboro Railroad Company
No." The election shall be held, and the
managers shall make their returns, in the
same manner as is now provided by law fol
general elections. The commissioners felec'
ton shall, within ten days from the time OF
receiving the returns, forward to the board OF
county commissioners return, setting forth
the entire number of votes cast, the votes fol
and the votes against granting aid to said
company. If majority of the votes cast
shall be in favor of granting aid, the county
commissioners shall Immediately cause bonds
to be printed, the same not to exceed the sum
of two thousand dollars for every mile the
road is to be constructed in the county, and
payable in thirty years; and upon the county
commissioners receiving the same, they shall
sign, and the clerk Of the board shall
countersign and seal the same with the seal
of the board of county commissioners. The
bonds shall then be numbered and registered
in the office of the clerk of the county. The
county commissioners shall then cause the
bonds to be deposited with some banking OF
trust company.
Sec. 8. Whenever the said company shall
actually commence the construction of said
railroad within the limits aid confines of any
county voting aid, as provided in section 2
and shall deposit with the treasurer of such
county bond duly executed, with good and
sufficient sureties, and approved by the circuit
Judge in a sum sufficient to guarantee the pay
ment of the interest on said bonds during the
time the said railroad shall be under construc.
ton, the county commissioners shall transfer
the bonds to the Charleston, Georgetown and
Conwayboro Railroad Company, and shall
publish such transfer in the official paper Of
the county, and the bonds shall commence to
draw interest from the date of such official
commencement. Upon the completion fsaid
railroad, the county commissioners shall re-
ceive from the Charleston, Georgetown and
Conwayboro Railroad Company an amount
of preferred stock of the said company equal
to the amount of county bonds issued in aid
of said company, the preferred stock to bear
interest at one per cent. per annum more
than the county bonds The bonds of the
county shall bear interest at the rate.of six
per cent. per annum.
Sec 4. The county commissioners shall in
vest the additional one per cent. received from
the preferred stock in securities, or in any
safe manner whereby the same shall draw in
terest semi-annually, and shall continue to in
vest the one per cent. so received, together
with the interest on the same, until sum
shall have accumulated sufficient to pay and
cancel the bonds of the county issued in aid
of said company, when the bonds shall be
paid and cancelled. All moneys received as
interest on said bonds and preferred stock
shall be held by the county treasurer and paid
out on the order of the county commissioners
Approved February 26, A. D., 1873.
AN ACT
Ceding the jurisdiction of the State of South Car
olina to the United States Of America over GER
tain lands in the county of Darlington, known