The Union times. [volume] (Union, S.C.) 1894-1918, 1896-01-31
eft Of any individual, company, asso-

! eft Of any individual, company, asso-
citation OR corporation; and the State
shall not become joint owner of or
! stakeholder In any company, associa-
/ ton or corporation. The general as
scmbly shall not have power to author
i4c any county or township to levy e.
| tax or issue bonds for any purpose en-
! 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 paupcrs. 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. 3. 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 gen
eral assembly, in such manner as may
by law he directed.
Sec. .. Money shall lie drawn from
the treasury only in pursuance Q. ar-
preparations made by law.
Sec. 10. The fiscal year shall COM
mence on the first day Of January il
each year.
Sec. IL. To the end that the public
debt OF South Carolina may not here
after be increased without the due con
sldcratiOn and free consent OF the pco-
pie OF the State, the general assembly
is hereby forbidden to create any fur
ther debt or obligation, either Ivy the
loan Of the credit of the State by guar
nnty, endorsement or otherwise, except
for tho ordinary and current business
Of the State, without first Ubmitting
the question rs to the creation OF such
new debt, guaranty, endorsement or
loan of it's credit to the qualified cleo
tors OF this State at general State
election; and unless two thirds of the
qualified electors of this State. voting
on the question, shall be in favor of in
creHsing the debt, guaranty, endorse
mCnt or loan OF its credit, none shall
be created or made. And any debt con-
tractei by the State shall be by loan on
State bonds, of amounts not less than
800 each, bearing interest, payable not
more than 40 years after final passage
of the law authorizing such debt. A
correct registry of ali such bonds shall
be kept by the treasurer in numerical
order, SO rs to always exhibit the num-
Der and amount unpaid, and to- whom
severallv made payable. And tho gen
crnl assembly shall levy an annual tax
sufficient to pay the annual interest or
said bonds.
See. Il. Suitable laws shall be pass
cd hy tn" general assembly for the
saio-kccping, transfer and disburse-
mcnt 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 and
shall give such security for tbe faithful
discharge of such duties as the general
assembly may provide. And il shall
be the duty OF the general assembly
to pass laws making embezzlement Of
such funds felony, punishable by fine
and imprisonment, proportioned to the
amount of the deficiency or embezzle-
ment, and the party convicted OF such
felony shall be disqualified from ever
holding any Office of honor or emolu-
ment IL 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 cmbcZZled.
Sec. -. The general assembly shall
provide for the assessment of all prop
crtv for taxation: and State. county.
township, school, municipal and all
other taxes shall hc levied on the same
assessment, which shall be that made
for state taxes; and the taxes for the
subdivision of the State shal! be levied
and collected by the respective t:sc"!
authorities thereof.