The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-12-25


shall be taxed; and also excepting
sue. property as may be exempted oy
law for municipal, educational, liter
a:y, scientific. religious or charitable
purposes Provided, however, That
the general assembly may impose a
capilation tax upon such domestic AMI
mails as from their nature and habits
are destructive of other property:
And provided, further, That the gen
eral assembly may provide for a grad
uated tax on incomes, and for grad
ated license on occupations and busl-
ness.
Sec. 3. The general assembly shall
provide for en- annual tax sufficient to
defray the estimated expenses Of the
State for each year, and whenever 1t
shall happen that the ordinary ex.
penses of the State for any year shall
exceed the income of the State for
such year the general assembly shall
provide for levying tax for the ensu-
ing year sufficient, with other sources
Of income, to pay the deficiency of the
preceding year together with the estl-
mated expenses of the ensuing year.
Sec. 5. No tax shall be levied except
IN pursuance of a law which shall dis
tinctly state the object of the same; to
which object the tax shall be applied;
Sec. /. There shall be exempted
from taxation all county, township
and municipal property used exclu-
sively for public purposes and not for
revenue, and the property of ali
schools, colleges and Institutions of
learning. all charitable institutions in
the nature of asylums for the lntirm,
deaf and dumb, blind, idiotic and IN
digent persons, except where the pro
fits of such institutions are applied to
private uses; all public libraries,
churches, parsonages and burying
grounds; but property of associations
and societies, although connected with
charitable objects, shall not be exempt
from State, county or municipal taxa
tion: Provided, That as to real estate
this exemption shall not extend be-
yond the buildings and premises actu-
ally occupied by such schools, col
leges, institutions of learning, asy-
lums, libraries, churches, parsonages
and burial grounds. although con-
nected with charitable objects.
Sec. 5. The corporate authorities OF
counties, townships, school districts,
cities, towns and villages may be vested
with power to assess and collect taxes
for corporate purposes; such taxes to
be uniform in respect to persons and
property within the jurisdiction of the
body imposing the same. All shares
of the stockholders in any bank or
banking association located in this
State, whether now or hereafter incor-
porated. or organized under the laws
of this State or of the United States,
shall be listed at their true value in
money, and taxed for municipal pur-
poses in the city, ward, town or incor-
porated village where such bank is
located, and not elsewhere: Provided,
that the words true value in money"
as used in line - of this section shall
be so construed as to mean and in
clude all surplus or extra moneys.
capital, and every species of personal
property of value owned or in posses
sion of any such bank: Provided, 4
like rule of taxation shall apply to the
stockholders of all corporations other
than banking Institutions. And the
general assembly shall require that all
the property, except that herein per-
mitted to be exempted within the linn
its of municipal corporations, shall be
taxed for corporate purposes and for
the payment of debts contracted under
authority of law The bonded debt of
any county, township, school district,
municipal corporation or political di-
vision or subdivision of this State
shall never exceed s per centum of the
assessed value of all taxable property
therein. And no county, township,
municipal corporation or other polili-
cal division of this State shall hereaf-
ter BE- authorized to increase its bond
ed Indebtedness if at the time of any
proposed increase thereof the aggre-
gate amount of its already existing
bonded debt amounts to per centum
of the value OF all taxable property
therein as ascertained by the valua-
ton for State taxation.
And wherever there shall be several
political divisions or municipal corpo-
rations covering or extending over the
same territory, or portions thereof,
possessing a power to levy a tax or
contract debt, then each OF such po
litical divisions or municipal corpora
tions shall so exercise its power to in
crease its debt under the foregoing S.
per cent limitation that the aggregate
debt over and upon any territory of
this State shall never exceed Is per
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
S per centum of the assessed value of
al the taxable property therein.
Sec. 6. The credit of the State shall
not be pledged or loaned for the bene-
fit of any Individual company, asso-
citation or corporation; and the State
shall not become joint owner of or
stockholder in any company, assocla-
ton or corporation. The general as
sembIy shall not have power to auth
orize any county or township to levy
a tax or issue bonds for any purpose
except for educational purposes, to
build and repair public roads, build.
ings and bridges, to maintain and
support prisoners, pay jurors, county
officers, and for litigation, quarantine
and court expenses, and for ordinary
county purposes, to support paupers,
and pay past Indebtedness.
Sec. Z. 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. S. An accurate statement Of the
receipts and expenditures of the pub