The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1915-03-05

The following is the amended bill
for the proposed bond Issue as pass
I'd by the legislature at its recent
session,
bill To authorize the holding Of
Hn election in Anderson County on
the issuing Of S750,000 of coupon
bonds for building permanent roads.
10 name commissioners TO cXpend
he proceeds OF said bonds and other
wise define their duties, powers and
term OF Office.
Strike out all after the enacting
words ana insert
Section l. That the supervisor Of
Anderson County be. and he is hereby,
authorized to order an election to be
held at the usual voting precincts
in said county Oh the 30th day of
March. A. d.. 1916. upon the question
OF Issuing coupon bonds of the said
county TO the amount OF S750,000 for
permanent road improvement. The
commissioners Of election for State
and county Officer1 for Anderson
County shall appoint the managers
and receive and tnbulate the returns
as in other elections: they shall re-
port tho result Of said election in
writing IN duplicate. ono copy of
which shall be fled In the office Of
the county supervisor OF said county
and one copy with the secretary of
State. and said duplicate reports shall
he kept on perpetual record in said
offices. Notice Of said election shall
he published by the said commission
ors Of clcctioh in some newspaper
published in the county Of Anderson
once n week for three weeks preced-
ing said election. Said election shall
ha held under the law: governing the
No'ding OF general elections in this
State
Sec. 2. The managers of said cleo
lion shall serve without cOmpensa-
ton
Sac. 3. THE ballot shall be pro-
vifch according to !aw. on the one
'a'lot shall ba printed the words:
For rcrmancnt rond bonds in the
rrm of $3.50. .00O--Ycs:" on ,hc other
For permanent r,c,i bonds in the
snm of s750.000-H d." /; majority
nf the ballots cast in said election
shall be for the Issuing of said bonds.
the mine commissioners hereinafter
provided for, to be known as the high
way commission Of Anderson County.
! ahnll advertise for sealed bids on said
bonds. the same to be s6fd in such
lots and Mt such times as the said
commission may deem advisable. No
bid 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
sold.
H., u A. ~.
known as Highway Improvement
be in denominations of $1,000 each,
10 run forty years, and to bear inter-
est from the date of issue at rate
not exceeding per cent per annum,
payable IN two equal installmcnts
semi-annually on the first day of jan
uary and the first day OF July OF each
and every year.
Sec. s. Upon the acceptance Of any
bid, said commission shall have print
ah coupon bonds of said county Of the
ienor above set out. These bonds
shall be signed by the county super-
visor of Anderson County and CO.. Mt
ersigned by the chairman of said COM
mission, and the, signatures Of said
officers may he Autographed upon the
coupons for the semi-annual INSTALL
nents OF interest to be attached to
said bonds.
Sec. 6. 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 annual
| iy as sinking fund as aforesaid shall
be annually paid over to. the treasurer
Of Anderson County, to he by him
placed and kept on deposit as sep
arate fund In such banks or trust
companies OF Anderson County or of
| other counties Of said State upon such
| interest as may be obtained, not l/ss
than per cent per annum, payable
| or compounded semi-annual!y. The
| treaesurer shall annually present to
the circuit court Of said county of An
derson an itemized statement of all
such funds received by him, ind
where and when the same are deposit
cd and ut what rate of interest. This
| report sh:n be filed with the clerk OF
| tho said court. @ 3
Sec. z, The funds arising ON the
sale of the SAL bonds shaii be de-
posted to the credit of tho treasurer
of Anderson County In separate
| fund, to be known as the Highway I'm
provement Fund. In tne several banks
of Anderson County, according to and
In proportion TO tn, combined capital
stock and surplus of each bank es
nearly as may be practicable, at Q
ratio OF interest of not less than 6 PET
cent per, annrm from the date OF the
| deposit until the funds are Withdrawn
L e,.1x y. lxl<.
commission aa needed by tllom In the
| performance Of their duties under this
act. Said fund shall be paid by the
treasurer. upon the warrant of the
chairman and four other members Of
the said Commission. Should any
bank CT banks In said county decline
/ tn raceixn sl1ch dannsffa nj said rate