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

Act Passed Mt the recent scssIon Of the
Legislature.
AN ACT 10 extend the time for funding
the Unquestionablc Debt of this State
BE IL enacicd by the Serato and House
of Representatives Of the State Of South
Carolina, Low met and sitting in Gcner-
al Assembly, and by the authority of the
same:
SECTION /. That tie State Treasurer
is hereby authorized and required TO re-
Ceivc from the holders willing To surrcn-
der the same all outstanding bonds and
certificates Of stock of ihe 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 maturcd or may mature on
st 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
MI respects as provided for in the act
Of Assembly, approved 22,i December,
1873, entitled "Au act 10 reduce the vol
ulne 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 Is, of January. 1874.
and prior thereto
SEC. =. That the said bonds and certiii-
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 certificate,
of stock issued under the act entitled
An net to reduce the vu inc Of the
public debt and provide payment Of the
same" approved 22d 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 OF
January, 1880.
SEC. 3. That this act shall remain in
force until the 3lst day of October, 1879.
Approved December 20, 1873.
AN ACT to provide for the funding of
the interest past due on the valid Con.
solidation Debt of the State.
nc enacted by the Senate and House
OF Representatives of the State of South
Carolina, now net and sitting in General
Assembly, and By the authority OF the
same:
SECTION l. That the State Treasurer il
hereby authorized and required to receive
from the holders, willing 10 surrender the
same, all unpaid coupons and interest
orders due prior to january |. 1879. ON
the consolidated bonds and certificates of
stock issued under the act entitled "An
act to reduce the volume OF the public
debt and provide for the payment OF the
approved December %, 1873.
which were recognized as valid and en-
braced in schedule five of the report of
the bond commission, and also all unpaid
coupons and interest orders Oil the con
s0iidatcd bon,is 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 * joint resolution providing a
mode Of ascerlaining the debt of the
State and Of liquidating and settling the
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 holders
coupon bonds or certificates of stock. "a
they may prefer, equal in nmoun. to the
face value of the coupons or interest
orders so surrendered the bonds and
certificates of stock so to be issued to be
in all respects similar and of like validity
to and having the same benefits and
privileges as those provided for i'm the
net approved December go, 1873, entitled
AN net to reduce the volume of the
public debt and provide for the payment
OF the same," and the first coupon or in
terest to mature thereon shall become
due and payable July /, 1879.
Approved December "a, 1878.
AN ACT To amend an act entitled can
act To provide for. the settlement of the
unfunded debt of the State incurred
before the LIST of November, 1876"
approved March %, 1873.
De IL enacted by the Senate and House
OF Representatives OF the State of South
Carolina, now met and sitting in General
Assembly, and by the authority of the
same:
SECTION l. That Section of an act
entitled AN act to provide for the settle
!ment of the unfunded debt of the State
incurred before the first Of November.
1876" approved March %, 1878, be
amended by striking out all after the
word "oilice," on the eighth line, and
inserting in lieu thereof the following !:
until the first day of December, 1915,
with, an annual salary of twenty four
hundred dollars"
That section of said act be amended
by striking out all after the word "re-
ceive," on the second line, down to the
comma on the third line, and inserting
In lieu thereof IAN annual salary of
twelve hundred dollars :" aud by striking
out all after the sem!colon, on the fourth
line, and inserting in lieu thereof the
;oi.u#;mg: - nd also in cases of doubt
and difficulty the commissioner may call
q n a ,,,1,.~ ~.
ney for the State, with an annual salary
Of five hundred dollars"
That section be amended by adding
thereto the following: "And in all other
cases, including the warrants known
as Little Bonanzas, the burden of proof
s!!a!i be upon the claimant to establish
the bona tides of the original considera-
ton upon which the claim is based. and
that section be amended by striking out
the wcrds "the first day of November
1978," on the fourth line, and inserting
in lieu thereof the words "the first dav
of April, 1872
SEC. 2. That the act be further amen
ded by adding the following section
thereto:
SEC. *. Certificates OF stock issued
under the 18th section of this act shall
be exchangeable for bonds upon applica-
ton to the State Treasurer: Provided,
That the aggregate amount of the certif-
dates presented for exchange shall not be
less than 500, and that no bond of a
denomination less than $10O shall be
Issued under the provisions of this act"
"SEc. 15. Upon the final adjournment
of the court hereby established, all the
records pertsining thereto shall be de-
livered to the Comptroller General Of