Old Fashioned Caramel Cake

Directions

1. 1
   Beat 1 cup butter at medium speed of an electric mixer until it is creamy; gradually add 2 cups sugar, beating well. Add the eggs, one at a time, beating after each addition.
2. 2
   In a separate bowl, combine the flour, baking soda, and coca; Stir well. Then add to the butter mixture, alternating with the buttermilk and water, beginning and ending with the flour mixture. Mix after each addition. Stir in 1 tsp vanilla.
3. 3
   Pour the batter into 2 greased and floured 9-inch round cakepans. Bake at 350 degrees for 35 minutes or until a wooden toothpick inserted in the center comes out clean. Cool pans on wire racks for 10 minutes; then remove from pans and let cool completely on wire racks.
4. 4
   For the frosting, combine 2 cups sugar, 1 cup butter, and 1 cup evaporated milk in a large saucepan. Bring to a boil over medium heat. Cover and cook for 2 to 3 minutes to wash down the sugar crystals from the sides of the pan.
5. 5
   Uncover and cook, stirring constantly, until the mixture reaches soft ball stage or a candy thermometer registers 234 degrees. Remove from heat and add vanilla (do not stir). Let cool for 10 minutes.
6. 6
   Beat at medium speed of an electric mixer for 8 to 10 minutes or until the mixture is spreading consistency. Quickly spread the Caramel Frosting between the layers and on the top and sides of the cake.
7. 7
   Garnish with pecan halves and grated chocolate if desired.