The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-02-16

bond shall be considered. The COM
mission shall have the right to re-
| tect any and all bids and readvertise
for bids until the bonds are sold.
81 p. 4. The said bonds shall be
known as highway Improvement
! bonds Of Anderson County, and shall
be in denominations or $1,000 each,
To run forty years, and to bear inter
est from the date OF issue at a rate
not exceeding per cent per annum,
payable in two equal iDstallments
semi-annually on the 1st day OF Jan
uary and the lst day of July of each
end every year.
Sec. 5. Upon the acceptance Of any
bid, said commission shall. have print
ed coupon bonds of said county of the
tenor above set out. These bonds
shall re- signed by the county super
visor OF Anderson County and count
er-signed by the chairman of the said
! commission, and the signatures of
said officers may be Autographed up
on the coupons for the semi-annual
installments Of interest TO be attached
to said bonds.
Sec. 9. There shall be levied an
nually on the property assessed for
taxation In said county tax sufficient
to pay the interest on said bonds. and
TO provide sinking fund of $500 an
nually until said bonds are paid. The
said sum of $500 to be levied an
nually as sinking fund as aforesaid
shall be annually paid over to the
treasurer of Anderson County, to be
by him placed and kept on deposit
as separate fund in such banks or
trust companies OF Anderson County
or or other counties of said State up-
on such interest as may be obtained.
not less then per cent amman, paw
able or compounded sime-annually.
The treasurer shall annually present
10 the circuit court of said county of
Anderson an itemiged statement of all
such funds received by him. and
where and when the same are de-
posted and at what rate OF interest.
This report shall be. filed with the
clerk of the said court.
Sect. The funds arising from the
sale OF the said bonds shall be de-
Posited 10 the credit of the treasurer
of anderson County in separate
iundh TO he known as the highway i'm
proVement fund In the several banks
or Anderson County, according TO and
in proportion to the combined cant
tai stock and surplus of each bank
as nearly as may be practicable, at a
rate OF interest of not less than per
cent per annum from the date OF the
deposit until the funds are Withdrawn
from time to time by the highway
commission as needed by them in the
performance of their duties Under
this act. Said fund shall be paid by
the treasurer upon the warrant of the
chairman and two other members of
the said commission. Should any
bank or banks in said couniy decline
to receive such deposits at said rnse
OF interests, the pro rata share OF de-
posits due to such hank or banks so
declining or refusing to accept same
shall be deposited by said commission
among other banks OF the county.
Such funds shall be Withdrawn from
such banks as they are deposited with
In impartial manner and proportion
lately to the amount held on deposit
by the various banks in so far as
practical.
Sec. 8. The high ~ con- mission of
Anderson Coupty shall be composed
OF sig members as follows: J. S. Fow-
Ter. chairman, c. E. Harper. Henry
H. Cely, j. M. Rroyles, Paul r. Earle
and the supervisor Of Anderson Coun-
ty, who shall be ex officio a member
Ok th3 sane Shcnld vacancy occur
In said commission, ii shall be filled
by an election by the remaining men,
bers OF the commission, with the con-
sents OF a majority of the delegation
from Anderson County In the general
assembly. The chairman OF the said
commission shall, as compensation
for his services, receive a salary OF
$1,000 per year, and the other mem
oers OF the commission the sum of S.
per day for each day actually engag-
ed in their duties as such commits
sfoners, not exceeding ono hundred
days each year for each member The
said commissioners shall hold office
Tor fiye years, at which time the said
Office shall'cease and determine. pro-
yided that the said commission may
be dissolved prior to such time by a
vote OF four of its members.
Sec. 3. The duties OF the said COM
mission shall be to use the proceeds
aFisnig from the sale OF the said
bonds for the purpose of constructing
system OF permanent or improved
public highways throughout Anderson
County. the same to be laid out and
constructed along such routes and of
such materials, In such order and in
such manner as the said commission
shall deem most advisable and best
Tor the interest of the county. In the
location of the said highways the gaid
commission shall have the right to
use any OF the public highways of the
said county now IN use, or to lay out
new roads or relocate old roads as
they may deem best. They shall have
the same power and authority to con-
denim lands for the location OF new
i0ads or to relocate the old roads as
Is now vest9d by law In the hoar3 ~