University of South Carolina Libraries
fllj"^,^ ?iii THE DAILY Daily i'apcr $8 a Year KY JULIAN A. SELBY. 'Let our Just Censure PHtMIX. Attend the True Event. COLUMBIA, S. G., WEDNESDAY MORNING, SEPTEMBER 2G. 18GG. Tri-Weekly $5 a Year VOLUME ll-NO. 16OL ACTS PASSED BY THE tEGlSUTUBE, AT THE EXTRA SESSION OF 1866. OFFICIA LL V PUBLISHED JV TUF. Pl HE S IX. AN ACT GIVING AUTHORITY TO THE CITY COUNCIL OP CHARLESTON TO PKO CEED IN THE MATTER OF A F IRE LiOAN, WITH A VIEW TO All) IN' BUILDING TI? THE CITY ANEW. . Whereas the City Council of Charleston did, on tho twenty-eighth day of August, in the year uno thousand eight hundred nud sixty-six, pass an Ordinance to assist in the rebuilding of thc city of Charleston, thc title and provisions of which Ordinance aro as follows: "AN ORDINANCE TO AII> IN REBUILDING THE BURNT i>isTRi<rrs ANO WASTE PLACES IN THE CITY OF CHARLESTON. SEC. 1. Bf. it ordained by tho Mayor and Aldermen in City Council assembled, That for the purpose of aiding in the rebuilding of the city of Charleston, a great part of which is now lying in ruins, tho Mayor of the city be, and he" is hereby, authorized aud directed, in the name of the City Council of Charleston, to issue seven per cent, coupon bonds, to be countersigned by tho City Treasurer, not exceeding, in all, the sum of two millions of dollars, which shall bc payable on the lind day of January, in tho year one thousand eight hundred and ninety, the 'interest to bo paid semi-annually; and, that said bonds be issued, from time to lime, in such form aud for such sums asjshall be most effectual for the purpose; the principal, and interest thereon, to l>e made payable in New York city; and that the faith and funds of the city of Charleston he, and the same are hereby, pledged for the punctual payment of the principal and in? terest of said bonds, und all and every sum and sums of money which may be received by the City Council in repayment of the loans hereby authorized shall be, and they are hereby, set apart and appropriated as a special fund for the redemption and extinguishment of said bonds and iuterest. SEC. 2. That a Special Committee of Council, consisting of the*Mayor and four Aldermen, to bo appointed in the same manner as tho regular Committees of Council, be, aud they are hereby, authorized to make loans of said bonds to such applicants as will build up and rebuild the waste places and burnt districts of the city of Charleston, or erect improve? ments upon their lots, under the following terms and regulations, viz: CLAUSE 1. Any applicant desiring to build, under this Ordinance, must make application to the said Committee, setting; forth a plan or descrip? tion, and the estimated cost of the building or buildings ho proposes to erect; also, the situation and dimensions of his lot or lots, and au ab? stract of his title thereto; and, upon appraisement of the value of thc lot and approval of proposed improvement by the Committee, and the ap? proval of the title, in writing, by the City Attorney, a loon shall be made : > said applicant fr)r one-half of the appraised value of bis lot, payable i.i said bonds at par value: Provided, That before any loan bo actually made, it shall appear that work has been done to the amount of one-fifth of the estimated cost of the buildings: And provided, further. That no loan shall bo made for tho erection of any wooden buildings. CLAUSE 2. The applicant shall give bond in a sufficient penalty, with condition to pay to said City Council of Charleston the principal sum of whatever may be loaned him in fifteen equal annual instalments; the lirst payable within three years from ?late of bond; also, with condition for payment of the interest quarterly, in advance; also, with the further con? dition that the money loaned sbifll, within six. months fror', its receipt, be expended in the erection of stone or brick buildings, wi m roofs or cover? ings and cornices of incombustible material, upon said lot of land; and, also, that the applicant ?hall, in all respects, comply with the provisions of this Ordinance, and of the Acts of the General Assembly in relation thereto, and of tho law in relation to building in tho city; and the said bonds shall ba secured by a mortgage or mortgages of the lot or lots in such form as sb all be prescribed hythe General Assembly of tho State; and if said mortgage should at any time become forfeited, the said City Council shall, and ma}r, after six months' notice to tho oblig r, his execu? tors, administrators, or assigns, either personally served or published in ono or more public gazettes of tho city, proceed to sell the property mort? gaged, at auction, upon such terms as tho City Council shall prescribe, for the best price that can bo obtained for tho same, which said sale shall be advertised for three weeks previously, in ono OJ- more of said gazettes, and the money arising from such sale shall bo applied to satisfaction of said bond, and any surplus that may remain shall be paid to the obligor, his executors, administrators, or assigna. CLAUSE ii. Whenever the amount first loaned shall have been expended j in the erection of buildings as aforesaid, tho applicant, his heirs at law, legal representatives, or assigns, may make application for further loan, whereupon the said Committee shall ascertain and report whether tho same has been applied as aforesaid; and upon certificate to that ?'fleet, the City Council shall make a further loan, equal in amount to one half of the appraised value of the lot or lots, should so much bo necessary to complete the improvements thereon; which said further loan shall bo taken in said coupon bonds at par, upon the same tenus and condit ions as tho first. And a further loan shall bo made, equal to one-half of said appraised value of tin; lol. or lots, or to one-third of tho estimated cost of tho buildings, at the option of. tho [.] ?lieaut, whenever said Committee shall certify that the amount already loaned has been actually expended agreeably t:> the provisions of this Ordinance, and that tho said building or buildings have been com]doted, and that tho aggregate amount of tho loans does not ex? ceed tho valu? o? tho buildings. And in tho case of tho second and third , loans, respectively, a good policy of insurance upon tho property, to the extent of thc amount loaned, shall bo effected by the applicant, and as? signed to tho City Council, before such loans shall lie made: Provided, That any policy shall be deemed sufficient if taken for such an amount as it may be customary for insurance offices hen? to take on any singh* risk ; and said additional loans shall bo taken, subject so tho same conditions, and shall be secured in the same manner as the first, and the bond and mortgage may bo go drawn originally as to embrace all loans which may be made to any applicant under this Ordinance, and which may bo within the amount td tho penalty of said bond. CLAUSE 4. The valuation of tho lots upon which such loans are tobe made, and also the certificates of expenditures, shall bc math' by tho Committee of Council aforesaid. (?LAUSE 5. The interest upon tho bonds o? the borrowers shall boat the rate of seven per cent, per annum, payable quarterly, in advance. CLAUSE C. in all cases, upon tho advance of tho second and third loans, respectively, thc borrower shall cause insurance to bo ( fleeted upon tho buildings erected, and shall keep the saino renewed for the amount of such loans, or of so much thereof as remains unpaid, in the manner herc: inbeforo provided, and assign the policy or policies to the City Council as collateral security; and in case the borrower shall neglect BO to do, the City Council shall cause insurance to be effected or renewed in their own behalf, and shall demand from tho borrower tho premium paid and nil expenses; and if the sanio aro not paid within two months, then tho bond I given by suck borrower shall bo considera! forfeited, and li? shall, forth with, be bound to pay the whole of Ids debt, aa though the instalments j had all been made payable at date ol" such forfeiture, if Ute City Council shall deem it expedient to require payment ol the same. CLAUSE 7. No loan shall be made upon any lot upon which lhere rs a j wooden building; nor shall any loan bo nindi: for any building of less than i two stories. SEC. 3. The lessee or tenant for life of any lot shall be allowed the benefit of the provisions ol' this Ordinance, if tho owner nf the reversion j or remainder join in the mortgage in such form as may bo approved by | the City Attorney. SRO. -I. The mortgage excelled by tho applicant shall be charged upon the land in favor of the City Conned and their assigns, from thc tate of its registry in the ellice of MesneConveyance, against all persons whomso? ever, and all mortgages shall br- recorded or lodged for record in the said ellice before any bonds shall he delivered upon the loan. SEO. 5. Any borrower may make payment upon his debt in the bonds j hereby authorized, or i i the past due coupons of Hu-same, at par, from time to time, in whole or in part, in advance of the stated times of pay? ment, if he should so desire. SEC. 6. Inasmuch as tho rate of interest to ho paid by tho borrower is the same as that, to be paul by the City Council, all expenses of papers and of examination and approval of title by the ?. ?ty Attorney, and of searches and certificates by public oHicers, must, be defrayed bj the bor? rower. The fees of public officers to be the same as those fixed by thc i seventh section of the Act of the year one thousand eight hundred and ' sixty-one, entitled 'Au Act for rebuilding the city ??f Charleston alter tin recent conflagration,' and the charges of the City Attorney b> ho arranged according to a seale to be fixed by the said Committee ol Council. The j costs of all proceedings for perfecting titles must also l?e paid by the bor rower, such as applications to the Court of Ivpiity, win n necessary, re- j cording, stamping, and so forth. SEC. 7. If any applicant shall be, al any time, in arrear for ono year'.-, int TI st, his mortgage shall be foreclosed without, further indulgence. SEC. 8. Any person who shall erect and complete any improvement on his lot or lots, which shall be approved by the Committee, may apply for and receive a loan thereon, in one amount, according to the principles of I this Ordinance. SEC. 0. No bond shall be issued, uer any loni? made, under this Ordi? nance, uutil the General Assembly of the State shall have given to the City Council authority to proceed in the premises, aud have confirmed and ratified the provisions of this Ordinance, and prescribed the form ol' the mortgage provided for, nor until the City Council shall have accepted the action . : the General Assembly in relation thereto. . Ratified in City Council, this twenty-eighth day of August, m the year of our Lord ono thousand eight hundred and sixty-six. [n. s.j P. C. GATT.J1.JAKD, Mayor." " W. If. SMITH, Clerk of Council." Aud whereas doubts are entertained of the power of i!ie City Council I lo accomplish the object without the pennis ion und lie..use of the General j Assembly ; therefore, I. Be it enacted by th e Senate and House of Representatives, now mot i aud sitting iu General Assembly, That all and singular the provisions of the aforesaid Ordinance of the City Council of Charleston be, and the same are hereby, authorized and continued; and authority is hereby given to the said City Council of Charleston lo proceed in the premises, and to j carry into effect the foregoing provisions. II. That the mortgages to be taken by tho City Council may bo after the following form: " Know all nu n by these presents. That 1. do hereby grant bargajo, ?-..?1. and iel,-use to the City Council of Charleston, their successors or assigns, my lot. in the city of Charleston, situate (herc describ?, premise;;), which estate I declare to be in mortgage for securing all MU iii and sum? of money which have been <>r ; I ?nay be loaned to me under tie- ..nlinainte for rebuilding the burnt dis- j tricts and waste places of the city of < 'harleston, ratified the twenty-eighth ! day of August, in the year one thousand eight hundred and sixty six, with interest, insurance, and idle r proper charges. And I agree that the same may be exposed for sale, according to the provisions of said Ordinance, if 1 do not repay the principal, interest, insurance, and other proper charg'-s, at the several and respective tine s when they shall'be lawfully payable. Witness my hand and seal this day of in?4.he year j And on this mortgage, should the applicant be married, there shall be a renunciation of dower or inheritance,"as the ease may be, in the usual I form, ami said mortgage shall be valid to all intents and purposes, as if i more formally drawn. And should s.n'<! niorlgage be forfeited hy failure to pay any par! of the debi or inter?s!, al thu t i mes specified, or hy breach j of any ol' tlie cm,iit ions of t ' . bond, the said City Council ol' Charles!on ? may, after six months' notice [?.> the obligor. Iii., heirs, executors, admin ' istrators, or assigns, either p .rsoimlly served or published in one or nun ? of the public gazettes in the city of Charleston, proceed to sell the sr.; I property, by auction, f. . the best ? thal can be obtained for Hie sanie, after an advert ?semen! for three weeks pre\ iotisly, in the manner set forth ill said Ordinance: And the moneys arising from such sale shall be applied by the .said City Council ol' ('nar!.- 1 -, in satisfaction of said bond and all expenses <i. sale, any law or usage to the.contrary thereof notwithstanding; and the purchaser ul such sale, his heirs and assigns, shall be deemed to be seized of a good and absolute and leou| estate in fee simple of the premises purchased, against all persons whomsoever, their heirs and assigns. Mot claiming by >r under ,? paramount title. 1 II. That the conveyance in case of sale, ?ts alor. ;aid. shall be made 1 ly? the ( '?ty t J luneil of Charleston, and may be after the following form : TO ALL TO WHOM TH I'S I' NH.SKN TS SHALL COME. Win rere. did, by deed bearing' date the il ay ol' in the year one thousand eight hundred and , mortgage to Hie City Council of Charleston the premises hereinafter described, to secure his bond, ci uni:! ?one,I for the payment of certain moneys loaned by tho : aid < Sty < 'ounciL>d ( 'ballest?n under tho Ordinance of the City Council of Charleston, commonly Known ?LS the City Fire Loan Ordinance which ."tgage is recorded in thc office of Mesne Conveyance, in book . 1-<^" . And whereas default has been made in the condition ol' said loud, and said mortgage h , been thereby forfeited; and I he ;ai.l City Council of (-'harleston di.l. after the notice and advert i sentent ri-ipi ired by law, pro? ceed t . -ell the said premises al public auction, at which sale became tho purchaser thereof: Now, know all men by these presents. Nial w ?, the : aid ( 'itv ? ouncil of Charleston, in consideration ol' the sum ol' ,1,.liars, lo !: in li;, ml ; :ii I by the sr ?tl (the receipt w1 roof is hereby acknowledged,) have grunted bargained, j sold ami released, and do, by lbe.se pie cuts, grant, bar; i, M and rel,-use unto tho .said all thal lot of hind, (d< scribing | the same.) and all the rigid, title, interest -md estate of (h.: City 'ouncil of Charleston in and to Ibo same, together with nil rights, member:.; ?ind | appurtenances thereto belonging; bi lune and to hold all and singular I the aforesaid promises unto the sahl his heirs ami ! assigns forever. \\ ?tues.; the ( 'orpor.it.- Seal of th? City C.tined id i 'harleston, attested by the signature of lin* Mayor, this dav of in the year one thousand eight hundred ?uni S Sealed and delivered i in the presence of I Provided, however. That tin? Act shall not affect or prejudice any existiog lien on the real estate of any person who may avail himself or herself of the provisions of sahl Ordinance. lu the Senate House, tho nineteenth ?lay of September, in the year of our Lord one thousand eivjit hundred and sixty-six. W. 1>. PORTER, -President ff the Senate. C. H. SIMONTON, Speaker House tf liejrresentatives. Approved : JAMES L. OUR. AN ACT TO PROVIDE FOR THE F UND INO. OF THE INTERIST AND PRINCIPAL OP CERTAIN STIX'ES AND ROM>: OK THE STATE PAST DI E. I. lie it <ii<uted by the Senate and iii use of lie presen tit i ves, now met and sitting in Genend Assembly, and by the authority of the same, That immediate provision be made for funding the following debt of South Carolina, to wit : Three hundred ami ten thousand dollars, now past due, us the principal of bonds of tho State issued by virtue of au Act of tho 1 legislature, passed in December, in the year of ?mr Lord one thousand eight hundred and fifty-nine, together with the interest on said bonds ; the interest ou an issue of bonds to the amount of oae million of dollars, under an Act. of the Legislature, passed in the year ?)( ?mr Lord oue thousand eight huudrcd ami fifty-four; and the interest un an issue of bonds tt> the amount ?>f five hundred thousand ?lollars, issued under an Act passed in December, in the year of our Loni on?; thousand eight hundred and fifty-three, for th?; building of the new Stat?; House ; like? wise, the iuterest on one million, seven hundred and seventy-five thousand dollars of six per cent, stock, issue?! for the purpose of building the new State House, under several Acts of the Legislature, passed iu the years on?? thousand eight, hundred and fifty-six, fifty-seven, fifty-eight, fifty - uiue, sixty ono and sixty-three, tho said iuterest to be calculated as duo up to the ?late of tho first ?lay ?>f July, ??ne thousand eight hundred ami sixty seven, without charging interest upon interest of auy portion of the arrear of interest. ll. For the purpose of effecting tin: above provision, it shall be the duty of the Comptroller-General ami ?d' the Treasurer of tho State, to preps re for the Governor a statement, showing tho aggregate amount or the indebtedness above recited ; and it shall be the duty of the Governor, us soon as practicable thereafter, to cause tu be prepared bonds pf the Sta*;* of the amounts of one hundred, five huudrcd and uno thousand dollars, amounting in the whole t?? the sum of said inilebteduess, the said ixmds to l><? payable, oue-half un the first day of January, one thousand eight hundred and eighty-seven, and the other half on the first ?lay of January, one thousand eight hundred ami ninety-seven, at the Treasury, in Columbia, with half-yearly coupons, for an iuterest of six per cent, per annum, attached thereto, payable in tho city of Columbia ; the bonds themselves to be signed l?y the Governor and countersigned by the Comptroller-General, and the coupons to be signed by the Treasurer ; ami the coupons ?>n the said bonds shall begin tu run from th?- first day of July, one thousaud eight hundred and sixty-seven, the first half-yearly coupon being duo on tho first of January, oue tuousaud eight hundred ?udtf?xty-eight. ll I*, lt shall be the duty of the Governor tu call, by a proclamation, ou all holders ?if the bonds issue?! nuder the Act of one thousand eight Luu di ed and fifty-nine, now past due. and upon all persons holding coupons past due, or to whom iuterest is ?lue on the indebtedness above recited, to come forward and receive, at the Treasury of the State, in lieu of the exist? ing evidences of indebtedness in their hands, ur by satisfactory extin? guishment of the same, the bonds hereby directed tube prepared, and the funds and faith ?d' the State are hereby pledged t?> the payment of tho bonds and coupons issued as above. IV. That the creditors of the Stale, called iu by the proclamation of the Governor as aforesaid, may, upon the presentation of their claims at the Treasury, il preferred by them, receive, in lieu of the bonds aforesaid, a certificate of stuck from the Treasurer for the amount of the sums ?lue Hiern respectively. V. That the certificates of stock herein provided for shall bo in the form following, to wit: Treasury ?>f the State of South Carolina, dtr of . In pursuance of an Act of the Legislature of South Caro? lina, passed on Ibu day of , I do hereby certify and declare that there is ?lue from the State of South Carolina to the sum ot' ?lullars, redeemable at the Treasury, in-Columbia, ou the fast ?lay of January, in the year of uur Lord one thousand eight hundred and eighty-seven, bearing interest, payable half yearly, at the Treasury of this State, at. the rate of six per cent per an? num, on the fast ?lays of January and July of each year, until the debt be redeei ted, which ?lebt is duly recorded in tho books of the Treasury, and transferal ile there only." VI. 'I ii?'holder ?>f stock, bonds or coupons must pay the difference, il there be any, between the amount presented and the bonds, either iu State Treasury notes or United States currency. In the Senate House, tho t wenty-hrstday of September, in the year ol our Lord one thousand eight hundred ami sixty-six. NV. I). PORTER. President of the Senate. C. IL SIMONT()N. Speaker House <>r Represent.itices. Approved: M tis L. < >uu. AN ACT TO AMEN I) AN ACT ENTITLED "As A?T TO LEND THE CREDIT ??1 nu: STATE TO SECURE CERTAIN BONDS TO BE ISSCED nv THE SOVTI CAROLINA IIATLROAD COMPANY." Whereas thc bonds of the Louisville. Cincinnati and Charleston Rail road Company, guaranteed by the State, iu accordance with the Act o the Genend Assembly, ratified the twenty-first day of December, ii the year of our Loni one thousand eight hundred and thirty-seven, ar for the most part held by parties resident in (treat Britain, and th exchange of said bonds for the bonds authorized to be substituted in lie thereof, pinier the Act ratified December the twenty-first, in tho year ? our Lord one thousand ? ?gi.! hundred and sixty-five, cannot be made ii the office of tim Treasurer of ti -Mate, as provided for in said Act : I. l?e it enacted by tho Senate 1 HOUKO of Uepri senlatives, now me and sitting in General Assembly, and by the authority of tho same, Thu so much of the first section of the Act to which this is au amendment, a requires the outstanding bonds to be delivered up ti? tho Treasurer au. cancelled before Ibo guarantee of the State is endorsed upon the net bonds, bo, and tho .'.ame is her?'l?y, repealed. II. That to efibct tho exchange of the new bonds for those now ??ul standing, the Governor of the ate be, ami is hereby, authorized t appoint an agent - f the State, io whom the Treasurer, af ter endcrsin upon tin? bonds !?> le- issued in pursuance of the Act ratified Decembe thc twenty-first, iu tho year of our Lord one thousand eight hundred an sixty live, the - .liaiante?* of the State, as provided in said Act, shall delivt saiii bonds, and by whom theexchan >f the new bond.; for the old sha be efleeleil ; thc expenses ami coinpc dion of sin-h agent to b?- d?fraye by the South Carolina Railroad Company. Ul. That said agent shall not. delivt i the bonds to be issued in pu simile,. ol' Hm Act ratified December tho twenty-first, in the year ?d' ot Fiord one thousand eight hundred ami sixty liv?', for any amount great? than the principal ami interest of the bonds which shall, from time f lime, lie delivered up to bim to bc cancelled, ami that when said agei shall have effected said exchange, ho shall report to the Governor of tl State tlc amount .>!' boinia which he has delivered, and the amount whit he has received in exchange, and shall deliver to the Treasurer of tl State the bonds received by him in exchange. lu the Senate House, tho nineteenth ?lay of September, in the vei of our Loni ??no thousand eight hundred and sixty-six. ' W. D. PORTER, President ot'the Smote. C. H. SIMONTON, SpeakerHouse of Representatives. Approved: JAMES L. ORR.