Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1847-01-20
An Act
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Section ~. Re Il gaacied by The General a. AZ
seHibiy ofthe State-of iowa, 4 hat dicfe shall b.
fbsdirs1ed, fof,hs PUP d paying Inc current sx
peacss 6t;ihS Stale Government aud 10 pay certain
cusses Of debts, the SUM of Fifyfye Thousand
Dollars 70, terra, not exceeding ten years "a ra,s
Of ihtcrestnot exceeding seven per ccntn,n per an
Pilum. payable annually. The payment Of tae inter
CT aiaiahe reimbursement 0fithc Pfincipaito b.
made at such place within The United staaes a
may be agreed on. s5el 6z7sF, q s. az;.fiI5 f51
SEc. 3, The Governor Of the State is aulhoriz
ed ID required 10 execute bonds for and in beha
Of the State, for any sum or sums OF money which
may be borrowed under the provisions Of tiisi act
which bonds shall ba signed BY she Governor
counter signed By the Auditor OF Public .secounts
aud (for want Of seal OF the State tie impress o
the seal Of The Territory Of Iowa shall be affixed
thereon BY fhe Secretary Of State.
~ Sec 8. X s!iulte deemed good execution Of
lhe powers and duties given aud prescribed BY this
act Tor an agent or agents of this State to sell the
bonds herein authorized 10 be made, provided that
in no instance shall said bonds be solo for less than
their nominal par value, which bonds when made as
aforesaid, shall DO called The Iowa State stock
SEc. 4, The State doth hereby irrevoeal,ly pledge
its faith, provide adequate TO pay the,inter
est due on said bonds as the same may become
due, and to reimburse The principal when the same
becomes due and Tor these purposes The revenue
arising from all the taxable lan,ls IN this Stale. on
30 much islereof 40 may l,e Necessary, shall be,
and the sane IS, hereby SIT, apart aud pledged for
that purpose, which revenue shall in no year he
Tess then the amount payable f5r Tic interest or
IN oftn Ia
Of all expenses Of collections and no tax shall seve,
be levied by legislative Authority Of iowa on the
stock hereby created nor on the Interests which
may be PAYABLE thereon, aud further, thai tie value
Of said stock shH be IN nowise impaired by the alt.
thonsy of the Stale. ~ - a&5 = faiJais3s 1865
> Sec. S. That VIM. F. Copbaugh he, ard he is
lie eby coEslHutsd.ai,d appointed an agent Oh the
pan aud IN behalf oi the Stale TO iiego.iats said
loan, to sell aid iransfrr The bonds and to do ana!
perform all thRigs necessary and proper for fulfill
my the purposes OF tbs Act; and all money or
iunl> arising feonl The loan shall be paid 1inio the
Treasury OF otate, subject be disposed of as the
Legislature may hereafter direct.
Sec. g. Sad agcnt shall give security to The
Treasurer of State FOR The fhftd Performance OF
the services and duiics required by this Act in the
sum Of scvea,y..ive Thousand dollars, said sacnriiy
10 BIZ approved by the Governor OF this State.
SEC. r. The rght is reserved 10 the State to
pay off and reimburse the principal or any pag1
thereof at any time after the expiration, Of five
years, on notice being given by legislative au,hor
~ to the holders of bonds six months before the
intended payment. @2 .eh srA = ss
SEC g. his act shall take effect and be in
force, from and after is PUBLICATION in the weekly
newspapers in Iowa City -,t r
]. 5. BROWNE,
Speaker House Representatives.
80 &4 " -s@ THOMAS L AKER,
President of tho Senate.
Approved, Dec. 10. 1896. as= lax
n45 ANS FL. BRIGGS. "
Secre.ary's Office, Iowa City.
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