The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1892-12-28
THIRD day Of JANUARY, 1893,

lhlhU Qdy I'll JANUAhl, l0J0,
at which will be submitted to the quail
flied electors of the town of Abbeville
the question of the issue of Seventeen
Thousand Dollars of bonds, to aid in
the building of the g., G. & N. Rail-
road shops.
At said election those favoring the
issue of said bonds shall vote ballot
on which shall be written or printed
the word Approve" and those oppos-
ing it shall vote a ballot on which shall
be written or printed the word IRE
ject." Said Act reads as follows:
Section /. That the Town Council
of Abbeville is hereby auth orized and
empowered to contract with the Geor-
gia, Carolina and Northern Railway
Company as to the location of such
shops and other structures as the said
railway company may determine to
build and establish in said town.
Sec. 2. That the said Town Council
of Abbeville is further authorized and
empowered to contribute to the rur-
poses enumerated in the Sec. Of this
Act sum of money not exceeding
$4,000. -,
Sec. 8. That the said Town Council
of Abbeville is hereby authorized and
empowered to issue $1,000 of Z per
cent. bonds, if so much be necessary,
interest payable annually, for the pur-
pose of paying the sum that may be
agreed upon, for the purposes enumer-
ated in Sec. of this Act, in denomi-
nations of 500 each, payable In thirty
years from the date Of their issue.
Said bonds shall be signed by the then
Intendant of said town and Treasurer
of said Council, and shall not be taxa
BILE for municipal purposes: ProUlded,
The contract entered into by and be-
tween the said Town Council and said
railroad company be approved by q
majority of the qualified electors of
said town, who shall vote at an elec-
ton to be held within thirty days after
the approval of this Act.
Sec. 4. That the said Town Council
shall have power, and are required. to
order said election, giving at least five
days notice thereof in the newspapers
of said town, specifying the time,
place and purpose of the election, and
to appoint three managers who shall,
without compensation, hold and con-
duct said election. At the election the
ballots to be used shall have written or
printed thereon the word "Approve"
or Reject" the Council having first
fixed the amount proposed to be raised.
Sec. S. That it shall be the duty Of
the managers to conduct the election,
count the votes Immediately after clos
| ing the polls, which shall he kept open
from A. NJ. till P. NJ, and shall de-
clare the result as in other elections,
which result they shall Immediately
certify in writing to the said Council.
Sec. 6. That in case a majority OF
the ballots cast shall have written or
printed thereon "Approve" the said
Council shall be authorized and re.
quired to proceed to issue the bonds
provided for in Section 3 of this Act.
Sec. 7. That for the payment of the
interest of said bonds the Treasurer of
said town shall be authorized and re-
quired to assess annually upon the
property in the said town of Abbeville
such q per centuIn as shall be necessa-
ry to pay the interest on said bonds.
This assessment shall be entered in the
tax books for the said town, under the
name and style as "the tax raised to
pay the interest on the bonds issued In
furtherance of the contract with the
Georgia, Carolina and Northern Rail
way Company" which assessment
shall be collected by the said Treasurer
under the same regulations as are pro
vided by law for the collection of other
town taxes, which shall be paid over
by the Treasurer to the holders of said
bonds as the interest thereon shall be-
come due and payable, and the cou-
pons presented.
Sec. 8. That for the purpose Of pay
ment and redemption of said bonds the
said Treasurer shall, under the control
and direction of the Town Council, as
sess such a per centum upon the prop
erty in said town of Abbeville as may
be necessary to raise an amount which
shall be fixed by the said Council not
exceeding 81 500 per annum, to be col
lected by said Treasurer as directed in
Section of this Act. Which amount
when collected shall be applied as rap.
idly as possible to the payment of said
bonds, or if said bonds cannot be pur-
chased at or near par, shall be invested
in safe and available securities until
said bonds can be bought: Provided.
No assessment shall be made under
this Section until Is years have elapsed
from the date of the issue of said
bonds Provided. further, Should