The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-07-19


An Act Co Authorize an Election I'm
sumter County to Issue Bonds In
The sum OF One Hundred and FIFTY
Thousand Dollars for Building and
Constructing Roads and Bridges I'm
sumter County.
Sec. 4. Be II enacted by the
General Assembly Of the State of
South Carolina. that an election In
Sumter County Is hereby authorized
ns TO the issue OF coupon bonds OF
said county to the amount OF one
hundred and ffty thousand dollars,
for the purpose OF building and main
tanning roads and bridges in Sumter
County.
Sec. 2. That said election shall be
held aud conducted under the direc-
ton OF the Commissioners for State
elections. who shall appoint the man
ayers. prepare the ballots. canvass
the returns. and declare the results,
as provided by law for general cleo
fions
Sec. 3. The election herein pro-
vided for shall be held on the first
Tuesday in August. one thousand
nine hundred end eleven; those vot-
ting in favor OF the issuing such bonds
shall vote a ballot on which is print
er OF written the words. "Shau Sum-
ter County Issue bonds to the amount
OF $4,000. at the rate OF $4,000 a
year for fve consecutive years. for
the purpose OF building and construc-
ting roads and bridges in Sumter
county," Yes" Those voting against
the issue OF such bonds shall vote
ballot on which Is printed or written
the words. shall Sumter County is
sue bonds to the amount of s150.000.
at the rate Of $4,000 year for FIVE
consecutive years. for the purpose
OF building and constructing roads and
bridges In Sumter County?" mo-"
And N q majority OF the qualified
electors In said election shall vote
for bonds. then the Supervisor and
County Commissioners OF Sumter
County shall issue said bonds as here
I'm provided: but IL n majority of the
qualified electors voting In said cleo
ton shall vote against bonds. then
no bonds shall be Issued under this
Act.
Sec. 4. Said bonds to be issued In
denominations OF one hundred dol
lars. Ave hundred dollars and one
thousand dollars as may be deter
mined. bearing intervst at a rate not
exceeding five per centum per an
mum. payable annually. and to mature
twenty years from date OF issue.
Sec. 5. That said bonds shall not
be sold for less than par. and the
proceeds OF the sale Of said bonds as
sold shall be paid over to the County
Treasurer. TO be used for sid pur-
poses.
ccS. v. Ahdt tniTty tTOusdnu
<t3o.00O) dollars Of said bonds shall
be sold annually.
Sec. Z. That there shall be retain
ed out Of the proceeds of sale OF such
bonds as may first be sold, a sum
Sufficient to pay the first year s
interest thereon: that thereafter the
proper authorities OF said county
shall annually cause to be levied a
tax on all the taxable property, real
and personal. in said county. suffi-
cient TO pay the interest on such
bonds as shall have been sold. and
provide sinking fund to retire said
bonds at maturity.
Sec. 8. That all bonds issued here
ander and In pursuance OF this Act
shall be signed by the Supervisor and
members Of the said County Board Of
Commissioners OF said county: pro-
sided. That the signatures Of the su-
pervisor and members OF said board
may be autographed or engraved up
on the coupons attached to said
bonds and such autographed or en-
Eraved signatures shall be sufficient
ssuing thereof. That the treasurer
of said county shall be liable upon
MA bonds for the proceeds of sale Of
such bonds sold and turned Into the
county treasury OF said county.
Sec. .. Said commissioners shall
employ an engineer. who shall also
be skilled In scientific road construc-
fion. at such salary as may be liked
by said commissioners. payable
monthly: from the proceeds OF the
sale Of bonds herein provided for.