The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-03-05

The following is the amended bill
for the proposed bond issue as pass
ed by the legislature at It's recent
session:
A bill To authorize the holding OF
an election in Anderson County on
| the issuing OF $750,000 of coupon
bonds for building permanent roads,
TO name commissioners to expend
the proceeds OF said bonds and other
wise define their duties, powers and
| term OF office
Strike out all after the enacting
words and insert:
| Section /. That the supervisor OF
Anderson County be. and he Is hereby.
authorized to order an election TO De
I held at the usual voting precincts
/ In said county on the Both day of
March. a. d.. 1915, upon the question
| OF issuing coupon bonds of the said
county TO the amount of $750.000 for
| permanent road improvement. The
commissioners of election for State
! and county officers for Anderson
County shall appoint the managers
and receive and tabulate the returns
rs In other elections: they shall re-
port the result OF said election in
| writing In duplicate, one CODY of
which shall be filed In the Office of
the county supervisor of said county.
| and one cony with the secretary of
! ST. g, aud said duplicate reports shall
he kept on perpetual record in said
offices. Notice OF said election shall
be published by the said commissions
ers of election in some newspaper
published in The county of Anderson
| once week for three weeks preced-
ing said election. Said election shall
he held under the laws governing the
holding, OF general elections in this
| STATE.
Sec. 2. The managers of SAID cleo
ion shall serve without compensa-
| t,on
Sec 8. The ballot shall he pro-
| vided according to law: on the one
| hailot shall he printed the words:
! 'Tor permanent road bonds in the
-',y'i OF $3.50. .0o0-Yes:" on the other
'Tnr permanent road bonds in the
sum OF s760.000--No" II majority
| Of the ballots cast in said election
shall he for the iesuing of said bonds
1.-THE nine commissioners hereinafter
| crowded Tor, to he known as the high
way commission of Anderson County.
Shall advertise for sealed bids on said
bonds. the same to be sold i'm such
lots and st such times as the said
| commission may deem advisable. No
hid for less than the par value Of
the bond shall be considered. The
commission shall have the right to
reject any and all bids and read
vertise for bids until the bonds are
i sold.
Sec. 4. THE said bonds shall. be
known as Highway Improvement
Ponds OF Anderson County. and shall
ne in denominations of $1,000 each,
to run forty years. and to bear inter-
est from the date of issue at a rate
not exceedin; 5 peTicens par annum,
payable in two equal installments
semi-annually on the first day of jan
nary and the first iay of July of each
and every year.
4 Sec. 8. Upon the acceptance of any
bid, said commission shall have print
ed coupon bonds of said county of the
tenor above -aet out. These bonds
shall be signed by the county super
visor of Andei son County and count
ersigned by the chairman OF said COM
mission. and the signatures of said
officers may be Autographed upon the
coupons for the semi-annual Install
nents of interest to be attached to
lsaid bonds.
i Sec. 6. There shall be levied an
nually on the property assessed for
taxation in said county q tax sufficient
to pay the interest on said bonds, and
TO provide sinking fund or $500 an
nually until seid bonds are paid. The
said sum OF 81 500 TO be levied annual
/ ly as tlinking fund as aforesaid shall
be annually paid over to the treasurer
i of Anderson County, TO be by him
4 placed and kept on deposit as a sep
arate fund in s1ch banks or trust
II companies OF Anderspu County or of
other counties OF said State upon such
interest as may be obtRihed, not Ifss
than per cent per annun. payable
lor compounded semi-annuaiiy. The
trAaes,lTer shall annually present to
The circuit court of said county of An
derson an ,temized statement of all
such fuIds received by him, and
where and when the same are deposit
ed and at what rate of interest This
report shall be filed With the clerk OF
the said coart:
Sec. q. The funds arising from the
i sale of the said bonds shall be de-
posted TO the credit OF the treasurer
OF Anderson County in q separate
i fund. to be known as the Highway Iu-
i iprovemeat Fund, IN the several banks
LOT Anderson County, according TO and
In proportion 10 tne coInbined .Uupstsss !
stock and surplus OF each bank cs
nearly as may be practicable, at 4
rate OF interest of not lens than s per
cent per anntim from the date OF the
4 deposit until the funds are Withdrawn
from time to time by the highway
commission as needed BY them In The
II Derforfnnnrs S,f their fit,ffast tstadf,ys Shis.
chairman and four other members OF