The county record. [volume] (Kingstree, S.C.) 1885-1975, 1912-02-01


in Constructing, Establishing and
Maintaining a system Of Water
works in and for Said Town.
Be it ordained by the Mayor and Al
dermen of the Town of kingstree, 5 e.,
in Council assembled and by the author
ity of the same:
/. That pursuant to the result of the
Special Election on the question of is
suing Bonds of said Town of kingstree.
S C.to the principal amount of twenty
Eight Thousand Dollars (S2S, ,0O0. 0O) for
the purpose of establishing, construct
ing and maintaining system of water
works in and for the said Town the re-
suit of which said Special Election was
duly declared by an ordinance passed
and ratified on October 10 1911. Coupon
Bonds of the said Town of kingstree.
S G.. to the principal amount Of Twen-
ty Eight Thousand Dollars $4,000. o.
to bear date November ], 1911, payable
at the Germania Savings Bank in the
City of Charleston, said State. in any
legal tender money of the United States
forty years from date thereof. with the
privilege of redemption after twenty
years after the date thereof, bearing
interest at the rate of Five Per Centum
go per annum, payable semi-annually
on the first day of each May and each
November hereafter at the said Ger
mania Savings Bank, be issued by the
Town ouncil of said Town of Kings
tree, S c.
II. That the said Coupon Bonds of
said Town shall be issued in denomina-
tons of One Thousand Dollars Isl 00O.OJ)
each and shall be signed and executed
in the name of the Town of Kingstree,
S G, bv the Mayor thereof and counter.
signed by the Clerk and Treasurer OF
said Town under the Corporate Seal of
said Town, with interest Coupons at
tached bearing the fac-simile signatures
of the said Mayor and Clerk and Treas
urer engraved thereon.
III. That said Bonds. when issued as
herein provided for, shall be delivered
and turned over to the COMMISSION-
ERS OF PUBLIC WORKS of said
Town, to be, by them, sold to the high
est bidder therefor, and that the pro-
ceeds arising from such sale shall be,
by them, disbursed and expended solely
towards the construction. establishment
and maintenance Of system of water
works in and for said Town.
w. That an annual tax of FOUR
MILLS on the Dollar, or FORTY CENTS
on every One Hundred Dollars of the
Real and Personal Taxable property
within the limits of the Town of Kings
trees &, be and the same is hereby lev
led and imposed. which said tax, when
collected, shall be applied to the pay
ment of the interest on said Bonds when
the same hall become due and payable
as herein provided. and to the creation
of the Sinking Fund required by law.
and that in the event the Town Council
of Kingstree shall at any time fail or
neglect to levy. impose and collect the
tax herein provided for the payment of
the principal and interest of the said
Bonds when the same shall become due.
the owners and holders of the said
Bonds may enforce the same by Man.
damus in any of the Courts of this State
as is provided for by law.
Passed aud ratified in Council assem-
bled this sixteenth Q6th) day of Janu-
ary, A D 1912. LP KINDER, o. s.
Mayor of Kingstree, S c.
Attest: NJ H JACOBS.
Clerk and Treasurer.
1, M H Jacobs. Clerk and Treasurer
of the Town of Kingstree, S c. do here
by certify that the above written Ordi-
nance is true and correct copy of the
original Ordinance of the Town of
Kingstree. S C.. now on file in the Office
of the Clerk and Treasurer of said
Town. NJ H JACOBS,
2-l-tf Clerk and Treasurer.