The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1873-06-18

county, and payable in thirt,
years. and upon the commission
ers receiving the same, they sha'
countcrsign and seal the sam
with the seal Of the board Of coun
ty commissioners. The bonds shal
then be numbered and Registered
in the office of the clerk Of tn,
county. The county commission
ers shall then cause the bonds t
be deposited with some banking O.
trust company.
SECTION 3. Whenever the sait
company shall actually commcnc,
the construction Of said railroac
within the limits and confines 0
any county voting aid, as provid
ed in section 2. and Shall deposi
with the treasurer Of such county
4 bond duly executed, with gooe
and sufficient suretics: and approx
cd by the circuit judge i'll sun
sufficient 10 guarantee the pay
ment of the interest on said bond:
during the time the said railroad
shall be under construction, the
county commissioners shall trans
fer the bonds to Charleston, George
town and Conwayboro Railroad
Company, and shall publish sucl
transfer in the official paper Of
the county, and the bonds shall
commence to draw interest from
the date Of such official commence
ment. Upon the completion Of
said railroad, the county com.
missioners shall receive from the
Charleston, Georgetown and Con.
wayboro 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
elk per cent. per annum.
SECTION 4. The county commits.
sioners shall invest the additional
one per cent. received from the
preferred stock in securities, or in
any safe manner whereby the
same shall draw interest semi
annually, and shall continue tc
invest the one per cent. so rece;r.
ed, together with the interest on
the same, until a sum shall have
accumulated sufficient to pay anG
cancel the bonds Of the county is,
sued in aid ofsaid company, when
the bonds shall be paid and can
celed. All moneys received a<
interest on said bonds and prefer
red stock shall be held by The
county treasurer and paid out on
the order Of the county commits
SloncrS.
Approved Fcbrr":y 2G, a. D
1873.
AN ACT TO ENCOURAGE AND PRO
VIDE FOR TIE INCORPORATION o.
AGRICULTURAL AND MECHANICAL
SOCIETIES AND ASSOCIATIONS FOF
THE PROMOTION OF THE ARTS AM
SCIENCES.
Be it enacted by the Senate anc
House Of Representatives Of tht
State Of South Carolina, now me-
and sitting, in General Assembly
and by the authority Of the same
SECTION /. That seven or more
persons within this State, having
associated themselves by agree
ment, in writing, for the promo
tion ofagriculturc. mechanics anc
other industry and ingenuity ane
for the encouragement Of the art!
and sciences: or for any OF thes'
purposes, under any name assum
ed, and'upon complying with tn
provisions Of this act, shall, Will
their successors, be deemed . body
polite and corporate.
SECTION 2. The purposes ofsucl
corporation, and the place wher'
it is established and located, shal
be distinctly specified in its arti
cles Of association, which articles
and all amendments thereto, shal
be recorded in the Office of tn
register Of mesne conveyances TO
the county wherein such place
situated, and such corporatio
shall appropriate it's funds 10 n
other purposes.
SECTION 3. Such corporation
shall have perpetual succession
Of officers and members, and
common seal, with power t
change, alter, break and make ne,
the same, as often as it shall judg
expedient, and it shall be capabl
in law to purchase, have, hold, rt
ceive, enjoy, possess and retain t
itself and its successors and q:
signs, in perpetuity, real or perso!
al estate, or both, whether accru
ing to the same by gift, purchas'
devise or conveyance, not exceed
ing in value one hundred thousan
dollars; and the same, Or any PAL
thereof, to sell, alien, devise or e,
change, whenever such corpor;
ton may deem proper.
Svo.rtnN 4 CnnI> ,o,no,:o