South Carolina - Acts on Education Topics

An Act to Authorize the County Commissioners of Anderson County, or their Successors, to Issue Bonds in Aid of the South Carolina Industrial and Winthrop Normal College if Located at Anderson, South Carolina.

December 24, 1891

Acts and Joint Resolutions of the General Assembly of South Carolina 1891, Pages 1216-1217.

Section 1. Be it enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitiing in General Assembly, and by the authority of the same, That upon the location of the Industrial and Winthrop Normal College at Anderson, South Carolina, and a subscription of one hundred thousand dollars in bonds by the city of Anderson for the same purpose, the County Commissioners of Anderson County, or their successors, be, and they are hereby, authorized to issue and sell coupon bonds of said County of Anderson of the denomination of five hundred dollars each, and in amounts sufficient to raise the sum of twenty-five thousand dollars, which said sum they shall turn over to the Trustees of the South Carolina Industrial and Winthrop Normal College, to be used by them towards the erection of suitable buildings for said College. Said bonds to bear interest at the rate of six percent per annum, said interest to be paid annually on the first day of every March after the issuance thereof until the same shall fall due, the principal of said bonds to be payable as follows: Five thousand dollars twenty years from the date of the issuance thereof, and five thousand dollars each succeeding year there after until the whole is paid.

[The original does not have Section 2. Perhaps it was numbered incorrectly since Day 1]

Sec. 3. That for the purpose of paying the interest on the bonds herein authorized to be issued and retiring the principal as it shall fall due, the County Commissioners of said County, and their successors, shall each year levy a sufficient tax upon all taxable property of said County to be known as the Industrial School Tax. to be collected and disbursed as other taxes of the County.

Sec. 4. That this Act shall take effect 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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