Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1897-09-01

bopes. will be of service, not only to the
gentlemen composing the meeting, but
also to the citizens who will compose the
meeting to be held next Tuesday night.
Now take brief review of the sense of
the council as developed at the meeting
referred to. Intendant Lowry does not
want to increase the levy one-tenth of a
mill-he does not want to increase 1t
at all; but only wants the new charter
because it will enable the council to "bor-
row" money. Warden Parish would
vote for a levy of ten mills if he thought
such a levy necessary; but does not de-
sire to 20 above the present levy. He
wants the power to borrow money, how
eve-, because then the council will be
enabled to do three years work in one,
and not be out anything but the interest"
Or as Warden Propst, who did not conf
nit himself one way or the other express
ed what his fellow members were driving
at-''the object of the new charter is to
enable the council to anticipate the tax
levy" None of them, so they say, want
to increase the levy a fraction; but only
want to be in position to borrow money.
This point arrived at, and in the absence
of any expression upon any other point,
let us take look at the law on the SUBJ
iect. Here is the provision of the present
charter relating to the borrowing OF
money.
Section IL. The town council shall be author
lied to borrow money only for corporate pur-
poses and upon corporate bonds, bearing III
terest not exceeding seven per centum per an
NUN. Provided, that no loan shall be effected
without the previous concurrence ofa majority
ofthe voters ofsaid town voting upon the same,
10 be ascertained by special election upon the
amount and purpose of such loan. previously
named and stated by an ordinance OF said
town council, which election shall only be Or
dered by said town council upon q days public
notice, and upon a petition presented to said
town council, signed by q majority OF the resi-
dents who are owners of real estate therein,
prayinc such election. Provided,
that the levy for that purpose shall be made
along with the levy for ordinary town pur-
poses, and that said special levy shall not en-
ceed two mills for any one year."
In a nutshell, this section means that
the town council has no power whatever
to borrow money except upon a vote OF
the people. 1t may, if it desires, and can
find lender, anticipate tax collections by
borrowing money; but there is no way
in which the lender can enforce collection
10y law. If the council fails to pay out OF
the particular levy it may pledge, then
the lender has not the slightest claim
upon any subsequent levy or upon any
subsequent council. So much for the
present charter. Now take glance al
the money borrowing provision Of the
proposed new charter:
Section Is. Said town council shall have
power to borrow money for corporate purpo
ses, and issue from time to time as oc'
casion may require, the bonds OF the corpo
ration for the payment OF the principal
of which said town shall be at all times
liable: Provided, the property OF the inhaDi
tants of said town shall be bound for tho
redemption of said sum so borrowed, anc
the interest thereon, IN NO OTHER WAY THAN
Ry THE IMPOSITION OF AN ANNUAL TAX
Provided, further, that no such bonded deD'
shall in any instance exceed the maximum
limit prescribed in the constitution OF thiS
state. and that no bonded debt shall be issued
or tI,a n
municipality as provided in the constitution
A comparison Of the foregoing section
of the proposed new charter with the Sec
ton of the old charter previously quoted,
will quickly show that the power to bor-
row money for the anticipation of taxes
the ONLY purpose for which the council
saws it wants to borrow-is Identical
Such power is not conferred either by the
present charter or the proposed new char
ter, and the individual who lends money
to the council under either provision does
SO at his own risk. The taxing power,
under the proposed new charter, it is
true, is greater. The present charter al
lows levy of 2 mills for ordinary pur-
poses, and upon vote of the people, two
additional mills for extraordinary purpo-
ses-the issuance of bonds for instance.
While under the proposed new charter
bonds can be issued only upon vote OF
the people, the council will have authori-
ty to tax the town, ON ITS OWN MOTION,
for ordinary purposes, at the rate OF some
S.. 500 a year, instead of only about 81, lOC
as now. Members of the council, it is
true, disclaim any desire to increase the
levy-they only want the power to "bor-
row money" Since it has been shown,
however, that by wise provision OF the
lawmakers in pursuance of what is il,
this state settled principle of good gov
ernment, they will have no such pow
err, and since they begin to realize what
almost unlimited taxing power they
are about to put in the hands of success
sors who may not be inclined to be SC
oderate, we hope they will reconsider
tn @ whole thing, and if the meeting next
Tuesday night says so, call off the election.
But there is another thing to which it
will not be improper to call attention for
the benefit of the meeting next Tuesday
We are satisfied that the council is not
aware of it, for when Warden Moore ask
ed Intendant Lowry whether in the event
of the adoption of the new charter "we'
could make levy of 10 mills, and In
tendant Lowry said yes, the reporter fol