Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1849-01-31
cams Of 1oma.
AN ACT
To fund the debt Of the State.

To fund the debt Of the State.
81. Be it enacted By the General Assembly OF
The tate of Iowa, That from and after the pas
sage Of this act, when Auditors Warrants TO the
amount OF one hundred dollars, or upwards, are
presented al the state Treasury for redemption
and there are no funds in the Treasury to edeem
the same, it shall be the duty Of the Auditor OF
State. il required by the person or persons pre-
senting said Warrants, TO redeem and cancel said
Warrants by issuing state bond for the amount
thus redeemed bearing interest at the rate OF eight
per cent. per annum from the date of said bond I;
said interest to be paid semi.annaaiy al the Trea-
snry Of the State, on the list day or January and
July in each year, until said bonds are respect
lively redeemed: Provided. That the interest
shall cease al the expiration Of forty days notice
TO be given at any time by the Treasurer of State,
in one OF ihe principal papers published at the
seat OF government, Of readiness 10 redeem the
same: And provided further. That unredeemed
Auditors Warrants shalt have, over said bonds,
the precedence Of redemption at the Treasury,
for the period o. foar years from and after the
passage Of this act Provided, Thai no indivd-
ual shall be entitled to more than one bond FOR
any amount he may wish to have funded. or that
he may be the owner Of. or have in possession
at the time he presents Warrants to the Trea.
surv.
Sc The State doth hereby irrevocably pledge
its faith, to provide adequate means TO pay the IN
teresf as il becomes due on said bonds, and 10
reimburse the principal at the expiration Of four
years, unless they are sooner redeemed under the
provisions Of this act, and for this purpose it is
hereby made the duty OF the state Treasurer. to
reserve and set apart out Of the revenue coming
into his hands, sufficient amount OF funds to
meet the provisions Of this act.
g.. This act shall take effect from and after
its publication in the Iowa Capita! Reporter and
Iowa Republican.
SMILEY H. BONHAM,
Speaker of the House of Representatives.
JOHN s. SELMAN,
President of the Senate.
ANsEL BRIGGS.
SEcRErARY's OrrIce, Iowa,
Iowa City, Jan. IL, l849
hereby certify that the foregoing is a
correct copy Of the original act now on
file in said Office.
JOSIAH H. BONNEY.
Secretary Of State.
AN ACT
Toprovide for loan of the School Fund arising
from the sale Of the Public Lands.
~. Be II enacted BY the General Assembly
o. the State Of Iowa. That there shall he borrow
"a Tor the purpose Of paving the current expenses
Of me state government, the five per cent. fund
arising from the sales Of public lands Within th {
wave, IN the year 1871 amounting 10 the sum OF
slx'een thousand four hnndfed & twenty dollars,
iot . term no. exceeding FIVE years, at a rate Of
interest not exceeding ten per cent. per annum,
payable semi-annually.
~. The Auditor Of state is authorised and
required to issue bond for and in behalf Of the
..a'e Tor the said sum Of 400, to the Superin-
.endeat OF Public Instruction on behalf OF the
school fund, STIMULATING for the payment Of the
principal and interest, in accordance with the
nrst section Of this act.
;..gs:.. The state doth hereby irrevocably pledge
~ .al.n, to provide adequate means to pay the
aaleteH due on said bond, % the same becomes
we and to reimburse the principal at the end Of