The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-01-23
LAWS OF THE STATE.
Act Passed at the recent Session OF the
Legislature.

LAWS OF THE STATE.
Act Passed ut the recent Session of the
Legislature.
AN ACT to extend the time for funding
the Unquestionable Debt of this State.
Be it enacted by the Senate and House
of Representatives of the State of South
Carolina, now met and sitting in Gener-
al Assembly, and by the authority of the
same:
SECTION |. That the State Treasurer
is hereby authorized and required to re-
ceive from the holders willing to surren-
der the same all outstanding bonds and
certificates of stock of the State issued
prior to the first day of January, 1866,
and coupons on said bonds and interest
orders upon the certificates of stock
which have matured or may mature on
1st July, 1879, and shall thereupon issue
to said holders other coupon bonds and
certificates of stock at the rate of fifty
per centum of the face value thereof in
all respects as is provided for in the act
of Assembly, approved 22d December,
1873, entitled San act to reduce the vol
ume of the public debt and provide pay
ment of the same," with respect to bonds
and certificates of stock and such cou-
pons of bonds or interest orders on stock
which accrued on lst Of January, 1874,
and prior thereto.
Sec. 2. That the said bonds and certifi-
Gates of stock issued under the provisions
of this act shall, in every other respect,
conform to and enjoy all the benefits and
advantages of the bonds and certificates
of stock issued under the act entitled
"An act to reduce the volume of the
public debt and provide payment of the
same," approved 2Ed December, 1873,
saving and except that the first coupon
payable on said bonds, and first interest
order payable on said certificate of stock,
shall not mature before the first day oil
January, 1880.
Sec. 8. That this act shall remain in
force until the 3lst day of October, 1879.
Approved December 20, 1878.
An ACT to provide for the funding OF
the interest past due on the valid Con-
solidation Debt of the State.
Be it enacted by the Senate and House
of Representatives of the State of South
Carolina, now met ard sitting in General
Assembly, and By the authority of the
same:
SECTION l. That the State Treasurer is
hereby authorized and required to receive
from the holders, willing to surrender the
same, all unpaid coupons and interest
orders due prior to January l, 1879, on
the consolidated bonds and certificates oi
stock issued under the act entitled "An
act to reduce the volume of the public
debt and provide for the payment of the
same," approved December %, 1873,
which were recognized rs valid and en-
braced in schedule FIVE of the report Of
the bond commission, and also all unpaid
coupons and interest orders on the con-
solidated bonds and certificates of stock
which have been issued since the making
of the said report, in accordance with
said act, and with the joint resolution,
entitled "A joint resolution providing a
mode of ascertaining the debt of the
State and of liquidating and settling the
same," approved 22d March, 1878, and
he shall thereupon, in exchange for and
in lieu of said coupons and interest or.
ders so surrendered, issue to said holder;
coupon bonds or certificates of stock, as
they may prefer, equal in amour. to the
face value of the coupons or interest
orders so surrendered; the bonds and
or H. - l.
in all respects similar and of like validity
to and having the same benefits and
privileges as those provided for in the
act approved December %, 1873, entitled
can act to reduce the volume of the
public debt and provide for the payment
of the same," and the first coupon OF in.
due and payable July l, 1879.
Approved December "a, 1878.