South Carolina - Acts on Education Topics

An Act to Authorize and Empower the Town Council of Winnsboro to Issue New Bonds to Pay Off the Bonded Indebtedness of Said Town, and to Appropriate the Amount Now Applied to the Annual Reduction of Said Bonded Debt to the Use of the Public Schools in the Town of Winnsboro.

December 24, 1890

Acts and Joint Resolutions of the General Assembly of South Carolina 1890, Pages 856-857.

Section 1. Be it. enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitting in General Assembly, and by tbe authority of the same, That the Town Council of Winnsboro, in pursuance of an election heretofore held, be, and they are hereby, authorized and empowered and required to issue bonds of said town, to the amount of seven thousand dollars, for the purpose of paying off the present bonded indebtedness of said town, said bonds to be issued in such denomination as said Town Council may deem best, and to be payable in twenty years from the date thereof, with interest from date of issue at the rate of seven per centum per annum; and the coupons for said interest, when due, shall be receivable in payment of all taxes levied by or due to said town.

Sec. 2. That said bonds may be used in exchange for other bonds of said town at par; or in case such exchange cannot be effected, the said Town Council is authorized to sell or hypothecate said bonds and apply the proceeds or moneys arising there from to the payment of the present bonded indebtedness of said town, when the same shall become due.

Sec. 3. That said Town Council be, and they are hereby, authorized, empowered and required annually to appropriate and to pay over to the Mount Zion Society of the Town of Winnsboro, for the use of the public schools in said town, the amount now annually appropriated and applied to the payment and reduction of the principal of the present bonded debt of said town, to wit, the sum of six hundred dollars. Said sum of six hundred dollars to be used by said Mount Zion Society for the exclusive support of the public schools within the corporate limits of said Town of Winnsboro.

Sec. 4. That all Acts or parts of Acts inconsistent with the provisions of this Act be, and the same ard hereby, repealed.

Approved December 24th, A.D. 1890.

Benjamin R. Tillman, Governor.
Eugene B. Gary, President of the Senate and Lt. Governor.
Ira B. Jones, Speaker of the House of Representatives.

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