The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1902-03-07
GR ADED SCuOOI. Hilli.DING FOK
PROSPERITY
Th" Act Pn-s"d by I.n-t Irglslatur. Author
izing Notn In Prosperity un Erection
New School building and sup.
p,rI Of School

An act To enable and nulhUriHu
school district No. IT in Nrwbrrry
county TO issue bonds for the purpose
OF building and erecting school house
therein.
Section |. B" it enacted hy the Cen
"ral Assembly OF the State Of South
carolina: Ihut the school trustees, or
their successors of school district No.
III in Ncwhcrry county, embracing thu
town OF Prosperity, are hereby author
" tt and required to issue coupon bonds
| TO tho amount Of live Thousand dollar,
FOR the purpoS" OF erecting, building
ANU rQulpplng II public school house to
nr located in the town OF 'ruSprrity
PROV led, That majority Of the ulnl-
ltird electors Of said school district, vot-
my, shall be in iavur Of such issue ns
may hr expressed at IN election herr-
aitrr l" Dc hrld Tor that purpose. Pro-
vldrd, That said trustees shall not or
der said election, except upon IA prli-
tion Of majority OF the frcrholdrrs OF
said school district. Provided, further,
AT the sum" clccLi0n there shall he
elected an advisory board Of suid tr,is-
tees who shall serve in tho event of the
bonds being voted consisting Of three
frochodcra OF said district VINO shall
haVerQual power with said trustees am,
shat serve as said advisory board until
exhausted.
Sec > That the trustees of said
school district arc hereby required 70
give three weeks previous notice IN one
or moro OF tho newspapers published
IN the county OF Ncwhrrry, Of the time
anu Plncc "f such election, nppuint.thr
managers, prescribe the form Of hallots,
receive the returns and declare the re-
! suit.
| See. 3. That said school district is
| ncrcoy declared II budy corporate, for
| the purpose ot executing and issuing
| said bonds and other powers hNrciu
given in case their Issue uc authorized
| by certain election. The said bonds
shall be issued III such denominations
| ~ the trustees OF said school district
| shA'l deem btst, and Hh,ll Wv rayablc
| t"outS years from tiu u.,,c vi tntil. is.
size, with interest payable annually, at
| u rate not to exceed six per cent. Der
annum. The said bonds shnll be signed
by the Chairman OF tho board Of Lrus-
tees OF said school district aud counLrr-
SlEhcu ny It's secretary, and their cuu
| Pons shall be received in Drymnnt Of
any taxes in said school district, and
said bonds shall constitute first lien
ON The snid school house and the lot
upon which it is buiit. The said bonds
snail To cNcmpt from taxation, for
State, or municipal purposes.
Sec. 1: THAT for the purpose OF pay
ing tho Interest accruing on said bonds.
| the Audilor Of Nrwbrrry county or
such other officer lis may be charged
| with the nssnsSlncnt Of taxes, shall levy
annually" tax Of one and one half mills
on all taxable real and personal prop.
crty III said school district, as will
rais" sum sufficient for said nurposc
IN" :hc amount levied nt.!! be col.
'cc''h ny tho treasurer Of Nrwbrrrv
county, ns State and county taxes are
coilrctrd, 10 bc held und applied hy him
solely /" the payment Of the s,,id inter.
ISL anu shall bo used for no other pur-
| pose whutSucVCr
Sc d That the said board of trus-
ices are an; ;horiZrd and empowered to
soll said bonds at their pur valur. and
Shati deposit all moneys coming tC
them from such sales in bank &c. tn,
credit OF s.id board, to hc drawn on
ch"cKs signed hy Il ma jurity of said
board and they shall Use the said mon
cys exclusively for the purpose set ont
IN Section |, of this Act, and shoull
amy OF said bonds nc not nscd the,
snail bc cancelled by the said board o
trustees.
Sec. 6; The Auditor of Ncwbcrr,
county shall annually levy or the tax
able property Of said school district II
TAX OF three fourths ofa mill tor tn.
purpose OF creating sinking fund 70,
the payment of said bonds, which tn>
snail be collected by the treasurer O
Ncwocrry county and shall be held b,
MN Tor the purpose aforesaid: Pro
vlded, however, That said trustees a
the end Of every five years shall hav,
the right to order such sinking fun,
then accumulated paid pro rata on tn,
bonds then ont standing
sec. l.. This Act shall take effect i'm
mcdiatety upon its approval.
4 Approved tho 26th day OF February
a. ID. 1902.
NJ. b. McSwcepy,