The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1903-03-04
the SCHOOL soaO ISSUE.
Pssitioas to be slgaed by Freeholders
Rave Beea Prepared.

Rave Beea prepared.
Preliminary steps towards building
She new High School have now reach
ed che stage where the public are to
take hand and determine the ques-
ion.
The bill authorizing q bond issue
or the purpose of raising the necessary
funds, recently adopted by the Legis-
latuce, is as follows:
Section L. That the School Dis
Grics OF the city Of Sumter is hereby
authorized and empowered to issue
fifteen thousand dollars Of coupon
bonds, with interest at not more than
i've per cent, for the purpose of IN
acreas;ng the school house, equipments
and facilities of said district.
Section 2. That the Commissioners
OF said district are hereby required TO
ordsr an election upon the petition OF
one-haf OF the freeholders OF SAID
school district on the question OF the
issuance of said bonds, and to give
ten days previous notice in one or
more of the newspapers published in
said school district, Of the time and
place of such election. appoint the
managers, prescribe the form OF bal
lot, receive the resurns and declare
the result.
Section g. That the said school
district is hereby declared a body cor
porate for the purpose Of executing
and issuing said bonds and other
powers herein, in case their issue be
authorized in said election. The said
bonds shall be issued in such denom-
nations as the Commissioners Of said
school district shall deem best, and
shall be payable twenty years from the
date Of issue, with interest at the rate
and ssat the times hereinbefore
provided. The Tsaid bonds shalt be
signed by the Chairman Of the Board
OF Trustees of said school district and
countersigned by its Secretary, and
shall constitute first lien on all
property bought and improved from
the proceeds Of the sale thereof. The
bonds shall be exepmt from taxation
for State, County and municipal pur.
poses: Provided That the name Of
Chairman and Secretary may be litho.
graphed on the coupons Of the said
bonds.
Section 4. That for the purpose of
paying the interest accruing on said
bonds, and the principal, when due,
the Auditor Of Sumter County, or
such other officers as may be charged
with the levy and assessment Of taxes,
shall levy annually a tax Of one
mill on all the taxable, real
and personal, in said school
district, and the amount so levied
shall be collected by the Treasurer Of
Sumter County as State, County and
school taxes are collected, to be held
and applied by him, first, to the pay
ment Of interest on said bonds as it
shall fall due, and second, the balance
thereof may be invested by said Board
in such safe security as they may
think best for the purpose Of retiring
said bonds at maturity, or any balance
may be used in purchasing any such
bonds upon the market for cancella-
5ion.
Section 5. That the said Board of
Commissioners are authorized and
empowered to sell and hypothecate
said bonds: Provided, None shall be
sold below their par value, and shall
deposit all moneys arising from such
sales or hypothecations ln bank to
the credit of SAID Board. to be drawn
on orders signed by the Chirman and
Secretary of the said Board, and by
one of the members Of said Board
chosen for that purpose, and they
shall use the moneys exclusively for
the purposes set forth in Section 1
OF this Act.
Section 6. This Act shall take effect
Immediately upon it's approval.
In accordance with the require
ments of law petitions have been pre-
pared for circulation among the free
holders of the city-addressed to the
City Board of Education-requesting
them to order an election. Several of
these petitions will be circulated in
order to secure the required number
of names SO that no time need be lest
In reaching the election. There are
all told 653 freeholders white and col
ored, and ona-half that number must
sign the petition before the, election
canbe ordered. The petition is as
follows:
1--WE, the undersigned freeholders of
School District No. II, do hereby re-
quest the City Board of Education Of
the City of Sumter, TO order an cleo
tion for the purpose OF determining
whether the said school District shall
issue, in accordance with the provis
ions of an Act of the legislature re-
Gently passed, fifteen thousand dollars
of coupon bonds with interest at not
more than Eve per cent, for the pur-
pose Of increasing school houses,
equipments and facilities Of said Dis
trict.''
As soon as 327 names of freeholders
are procured, regardless of race or
sex, it will be the duty of the Board
to fix date for the election, giving
ten days notice thereof.
A majority of qualified electors
voting is required to sanction the
issue of bonds. The matter is of vital
Importance to the community. Our
present building is filed tc its utmost
capacity. More room must be provid-
ed or Sumter must announce to the
world that no more children can be
accommodated. No greater hindrance
to the future progress and growth Of
the city could be conceived than such
condition. Certainly no people