Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1847-02-10
AGENT dated Nav II 194I - tbe sm,nn.

Agent dated May IA, l84l, to the amount
Fof $33, 4si GO, and applied the proceeds
to the payment of claims presented against
the Territory Tor labor performed and ma
terials furnished for the erection Of the
Capitol. Prior to This time the notes held
by the Miners Bank were forwarded to
The respective places at which they were
made payable, and returned protested for
non payment, no provision having been
made for .heis settlement by the Terri
tory. 4aa
Il further appears by IAN act to provide
for the payment Of the debt due the Min
ers' Bank Of Dubuque" approved June
10Th, 1916, that the Territorial Treasurer
was required to give notice that sale Of
the lots belonging 10 The Territory would
take place on the first Monday Of May,
1916, and That on that day he should offer
at public sale, on credit of six and twelve
months, 10 the highest bidder, a sufficient
number Of lots to pay the debt due the
Miners, Bank of Dubuque; and upon all
such sales The purchaser was required to
Iexecuts 10 the Territorial Treasurer, for
The use of The Territory, his bond with
sufficient sureties, for the payment Of the
same at maturity, and upon the payment of
The same. the Treasurer was required to
make, execute and deliver to the said pur-
chaser, good and sufficient title in fee
simple; and to apply The proceeds to the
payment of The debt, PRINCIPAL and interest
due she Miners baun Of Dubmnue. con-
.r"oted nnder the provisions of the act of
January 10Th, le4i, He was also requir-
ed to e-sela lets sold prior to the 28th
June, l84l, and subsequently, forfeited to
the Territory, in consequence of non pay
nent for the same, on the same terms, and
to apply the proceeds to the liquidation Of
debts contracted by the Territorial Agent
Tor the erection ofthe Capitol at Iowa CT.
ty, exclusive of the debt now due the Mi
ners' Bank of Dubuque. BY ian act TO
provide for the payment of the claims of
the creditors of the Territory" approved
January 18th, 1886: supplemental to the
foregoing, it was declared "that all bona
ade creditors Of the Territory of Iowa,
whose claims were contracted in The cree
ton Of the Capitol at Iowa City, and who
may purchase lots al the sale authorized
oy the act to which this is supplemental
shall nave the right to offset The claims,
so lar as they may extend. against any
debts they may contract in the purchase of
said lots" 10 accordance with The fore
going instructions, he proceeded to sell
lots, as shown by q statement furnished the
Committee from his books 20 The amount of
IS ,CS4 IS, Of which amount the sum Of
s ,639 SS was applied in the settlement
OF claims against the Capitol, leaving bal
ance Of s .444 81, in notes 10 apply on The
Bark deot, and 10 pay the expenses Of The
sale, Of This amount he has collected and
applied or The Bank debt, or the 5ln Of
Dec: 1916, the sum OF $2l8 ID learinga
balance Of Sl226 7S still IN his posses
sion. He estimates the expenses Of the
sale al shout $500 co. leaving nett bal
ance Of 81 ,C26 rs in ro,es, being The en-
lire amount 0: available assets left in his
hands, after the sale Of all The lots desig-
mated by The exhibit OF the Territorial
Agent: Of the 4th Of May, lS4l, and
pledged by him Tor the redemption Of the
loan CHAINED Of the Miners Bank, and
amounting as shown BY said exhibit. accor-
ding tc mini,num valuation authorized
by law, to the sum of sil4,774 90. In
view OF these facts, your committee have
instructed me 10 draft bill for he as
sumption of this debt, principal and in
terest, by the State.
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