South Carolina - Acts on Education Topics

An Act to Authorize the Board of Trustees of the School District of the Town of Laurens to Submit to the Qualified Voters the Question of Issuing Bonds for the Use of Said School District.

December 24, 1891

Acts and Joint Resolutions of the General Assembly of South Carolina 1891, Pages 1409-1410.

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 the authority of the same, That the Board of Trustees of the School District of the town of Laurens are hereby empowered to submit to the qualified voters resident in said Sehool District, at an election to be held for that purpose after at least ten days' public notice, the question of authorizing the issue of bonds not exceeding the amount of ten thousand dollars, bearing not exceeding seven per cent interest, and payable in twenty years, and the levy of an annual tax of one mill to pay the interest on said bonds. The Board of Trustees is hereby empowered to fix rules and hours for holding said election, to appoint three managers to conduct said election and declare the result, and is authorized to execute, sell, and deliver the said bonds in the event the majority of the persons voting at said election shall vote in favor of the same: Provided. That said bonds shall not be sold for less than par value; the proceeds realized from the sale of which bonds shall be used by said Trustees in purchasing or erecting suitable school buildings, in repairing or improving school buildings, and in providing suitable furniture and apparatus for same. That the interest annually accruing upon said bonds shall be paid by the County Treasurer out of the proceeds of said special tax. Any surplus remaining after the payment of the annual interest shall be applied under the direction of said Board of Trustees to the reduction of the bonds so issued by said school district.

Sec. 2. That the bonds so issued shall be free and exempt from all taxation.

Sec. 3. That this Act shall be deemed a Public Act, and shall become of force immediately upon its approval.

Approved December 24th, A.D. 1891.

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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