State Ex Rel. Crawford v. Stevens

The opinion of the Court was delivered by

Mr. Chief Justice Brease.

The petitioning taxpayer questions the legality of the proposed issuance of $7,374,700.00' certificates of indebtedness of the State of Sóuth Carolina, maturing in annual installments beginning ten years after date and ending twenty-four years after date, and bearing interest at a rate not exceeding 5 per cent, per annum.

The state proposes to' use the proceeds of the sale of these certificates to pay the following 6 per cent, callable obligations of the state:(1) $407,000.00 of outstanding one-year state highway notes, dated…