The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1895-12-25

centum of the value of all taxable
property in such territory as valued
for taxation by the State: Provided,
That nothing herein shall prevent the
issue of bonds for the purpose of pay
ing or refunding any valid municipal.
debt heretofore contracted in excess of
per centum of the assessed value ,0f
all the taxable property therein.
Sec. 6. The credit of the State shay
not bo pledged or loaned for the BENZ
eft of any individual, company, asso-
ciatlon or corporation; and the State
shall not become a joint owner of or
stockholder in any company, associa-
tion or corporation. The general as
sembly shall not have power to author
ize any county or township to levy
tax or issue bonds for any purpose e1-
cept for educational purposes, to build
and repair public roads, buildings and
bridges, to maintain and support pris-,.
oners. pay jurors, county officers, and
for litigation, quarantine and court
expenses, and for ordinary county
purposes, to support paupers, and pay
past indebtedness.
Sec. 7. No scrip, certificate or other
evidence of State indebtedness shall be
issued except for the redemption of
stock, bonds or other evidences of in
debtedness previously issued, or for
such debts as are expressly authorized
in this Constitution.
Sec. 8. An accurate statement of the
receipts and expenditures of the pub
lie money shall be published with the
laws of each regular session of the gem
eral assembly, in such manner as may
by law be directed.
Sec. g. Money shall be drawn from
the treasury only in pursuance OF ap-
lropriations made by low.
Sec. 10. The fiscal year shall COM
mence on the first day OF January in
each year.
Sec. II. To the end that the public
debt of South Carolina may not here
after be increased without the due con-
sideration and free consent of the peo-
pie of the State, the general assembly
is hereby forbidden to create any fur
ther debt or obligation, either by the
loan of the credit of the State by guar
anty, endorsement or otherwise, except
for the ordinary and current business
of the State, without first submitting
the question as to the creation of such
new debt, guaranty, endorsement OF
loan of it's credit to the qualified cleo
tors of this State at q general State
election; and unless two-thirds of the
qualified electors of this State, voting
on the question, shall be in favor 0finaa &
creasing the debt, guaranty, endorse-
ment or loan of it's credit, none shail
be created or made. And any debt conf
tracted by the State shall be by loan onE
State bonds, of amounts not less than
$50 each, bearinginterest, payable not
more than 40 years after final passa&f
of the law authorizing such debt. @
correct registry of all such bonds 81
be kept by the treasurer in hume
order, so asto always exhibit the
Der and amount unpaid, and to #
seyerally made payable. And thlA3 SIS
eral>assembly shall levy m annudf tai
sufficient to pay the annual interest ont
said bonds. n
Sec. -. Suitable laws shall He pass
ed by the general assembly flor thu
safe-keeping, transfer and disbursea
ment of the State, country and school
funds; and all officers and other per-
sons charged with the same shall keep
an accurate entry of each sum received&
and of each payment and transfer an 81
shall give such security for the faithfaM.|
discharge of such duties as the generaN
assembly may provide. And it shall
be the duty OF the general assembly
to pass laws making embezzlement OF
such funds q felony, punishable by fine
and Imprisonment, proportioned to the
amount of the deficiency or embezzle-
mept, and the patty convicted of such
felony shall be disqualified from ever
holding any Office of honor or emolu-.
ment in this State: Provided, however,
that the general assembly, by two
thirds vote, may remove the disability
upon payment in full of the principal
and interest of the sum embezzled.
Sec. 13. The general assembly shall
provide for the assessment of all prop
erty for taxation; and State, county
township, school, municipal rand~nl
other taxes shall be levied on the same
assessment, which shall be that made
for State taxes; and the taxes for the
subdivision of the State shall be levied
and collected by the respective fiscal
authorities thereof.