The herald and news. [volume] (Newberry S.C.) 1903-1937, 1908-02-11

iipositcd in one Or. more chartered
banks in the city Of Newberry, at
interest, when not otherwise invest
ed as hereinafter provided.
| See. 4. From the proceeds of the
tax levy above provided for, the said
, commission shall pay the interest due
on said bonds and the balance shall
constitute. in the hands of the said
commission, sinking fund for the
purpose of retiring said bonds at ma
turity. The said commission shall
! nave the right to invest any part or
all Of said sinking fund in real estate
securities III said Township on such
terms as they may deem advisable
at seven per cent interest payable an
lHally. No loan in excess Of fifty
per cent Of the values of real estate
as Fixed by commission to b. made.
! See. 5. Said commission is hereby
authorized and empowered upol the
sale of the bonds herein provided for
= to use tic proceeds Of Sa.l sale in
macadamizing or otherwise perma-
nently improving the following aigh-
ways in sail township: QD starting
at ONealls bridge across Bush rivar
npublic road leading from said
bridge by Loneshore's store, Domi-
nick'S store thence to county line Of
Laurens and Ncwberry counties on
same public road--bcing twelve
or thirteen miles in length;
(2} starting whero another pub
lie road intersects the road first
above described at or near the farm
Of Mrs. Jack Henderson, commonly
known as the "Lewie" place. thence
on by residence Of John r. Spear
man, Mt. Zion church crossing the
puhlic road in front of the John T.
Peterson place. thence on by Mrs.
Nhra Werts residence to the long
bridge over Little River, being about
fvc or six miles in length. .(3) Be-
ginning at point at The Piester
bridge over Bush River at Peister's
old mill place, thence on by Bush Riv.
cr church, residence Of ]. w. Smith
to the bridge over Bush River lead
ing to thc town Of Misunderstanding
ab,.ni S,'tn or cig' ,,i', II !".,lh
Said commission is hereby amhoriz-
ed to employ civil cnginecr and to
enter iato contract or contracts for
the purpose Of -nlareAtly improv-
~. -: .':.a:s, or. !" tn. i .!:>crr-
tlon to employ a superintendent and
have the work done under their own
supervision. In case sail work shall
be let by contract a bond in such
| amount as the said commission :nall
! determine upon conditioned for the
; faithful performance of same shall
be cXecUtcd with sufficient surety by
contractor or contractors, to be ap-
proved by the commission. Th,
. chairman. or in his absence one Of
the other members of said commits
sion. shall sign all warrants for the
"A'mcn' ~ any par; cf the funlS
I derived f:''n the sale Of bonds. which
warrants snail be comtcrsiened bv
the clerk.
See. 5. Before any warrant or
warrants can be drawn against lie
, fund arising from the sale Of said
bonds. or derived from The special
levy herein provided for. an itemize I,
verified statement Of the account
: shall be presented to and approved
by the commission.
Sec. 6. The tax levy herein provid-
ed for shall be levied and collecte |
, annually until the maturity of said
/ bonds o" until sufficient funds
, has been raised to r~'irc said bonds
; at maturity and to pay all annual
+ interest due thereon. and the county
treasurer shall be liable on his Off
cial bond for the taxes collected un-
der the provisions of this Act.