1Preheat oven to 325 degrees F (165 degrees C). Grease & flour a 10 inch Bundt pan. In a large bowl, mix the flour, 2 cups sugar, salt, baking powder and baking soda.
2. Blend in buttermilk, 1 cup of butter, 2 teaspoons of vanilla & 4 eggs. Beat for 3 minutes at medium speed. Pour the batter into the prepared pan.
3Bake in the preheated oven for 60 minutes, or until a wooden toothpick inserted into center of cake comes out clean. Prick a number of holes in the top still warm cake while still in the pan. Slowly pour the butter sauce over the cake. Let the cake cool completely before removing from the pan.
4To Make Butter Sauce:
In a saucepan combine the remaining 3/4 cup of sugar, 1/3 cup of butter, 2 teaspoons vanilla, & the water. Cook over medium heat, until fully melted & combined, but do not boil.