Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1879-01-09
THE UNFUNDED DEBT.

The following is the full text Of the act
passed by the last Legislature to amend the
act entitled can act to provide for the SET
Element of the unfunded debt of the State,
incurred before the 1st of November, 1876, !"
approved March %, 1878:
Be 1t enacted by the Senate and House OF
Representatives of the State of South Caro-
lima, now met and sitting in General Assem-
bly and by the authority of the same:
SECTION l. That Section of an Act enti.
tied can act to provide for the settlement of
the unfunded debt of the State incurred be.
fore the first of November, 1876 approved
March %, 1878, be amended by striking out
all after the word "ofice," Oh the eighth line,
and inserting in lieu thereof the following ::
until the first day Of December, 1879, with
an annual salary of twenty-four hundred
dollars"
That Section 8 of said Act be amended by
striking out all after the word receive" on
the second line, down to the comma on the
third line, and inserting in lieu thereof ian
annual salary of twelve hundred dollars y
and by striking out all after the semico on,
on the fourth line, and inserting in lieu there
of the following "And also in cases of doubt
and difficulty the commissioner may call up
on an attorney who shall act as attorney for
the State with an annual salary of five hun.
dred dollars"
That section 5 be amended by adding there
to the following: "And in all other cases, In
cluding the warrants known as Little Bonan-
zas, the burden of proof shall be upon the
claimant to establish the bona 6des Of the
original consideration upon which the claim
is based, and that Section be amended by
striking out the words "the first day of No.
vember, 1878" on the fourth line, and insert
ing in lieu thereof, the words "the first day of
April, 1872
Sec. 2. That the act be further amended
by adding the following section thereto:
"Sec. IA. Certificates of stock issued under
the 18th Section Of this act shall be exchange
able for bonds upon application TO the State
treasurer: Provided, That the aggregate
amount of the certificates presented for ex-
change shall not be less than 500, and that
10 bond of denomination less than $lOO
shall be issued under the provisions of this
act"
"Sec. Is. Upon the final adjournment of
the court hereby established, all the records
pertaining thereto shall be delivered to the
comptroller-general of the State, whose duty
it shall be to receive and preserve the same as
if they were records of his Office" All the
interest due and payable on the bonds and
stocks authorized to be issued under this act
shall commence to run on the 1st day of July,
1879, and the first coupons on said bonds and
interest orders on said stock shall mature on
the 1st day of January 1880.
Sec. 16. That the commissioners, after ad-
Indication upon claim or evidence of indebt-
edness, whether favorably or adversely. shall
cancel and file the same with the record.
Sec II. That ali contingent expenses of
the said court shall be paid out of the phos.
phate royalty or any funds in the treasury not
otherwise appropriated, upon the warrant of
the comptroller. general, upon the requsition
of the commission Of said court with->th ap-
proval Of the Governor.
Approved December "a, 1874.