The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1852-05-19
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.

-~~-~>l-~lr-r,.-I-I - =, - " -
mo. 45.] ANACT 81 ne
To define the duties of the Commissioners
fthe Sinking Fund. ~ 81.
Sec. l.Be it enacted by the General
assembly Of the State of Ohio. That the
Auditor of State. Secretary of State. and
Attorney General, created by article eighth.
section eighth, of the Constitution. a Board
of commissioners. to be styled the COM
missioners Of the Sinking Fund, shall ap-
point one of their number Acting Commls.
sioner of the Sinking Fund. who shall
hold said appointment during his term Of
Office as member Of said Board; and it
shall be the duty ofsaid Acting Commits
sioner, with the advice and concurrence
Of the other members of the Board. to per-
form all and singular the duties enjoined
on said Board. -.f
Sec. 2. The Acting Commissioner shall
keep complete and full journa al OF all the
proceedings and orders of the Board OF
Commissioners Of the Sinking Fund. to-
gether with record Of all certificates of
the Public Debt, and transfer Of the same,
and all other papers issued or made by
order of said Board; and said Commits
sioners may appoint Secretary or Clerk.
to assist the Acting Commissioner, with
salary not to exceed dollars, to be
paid as other officers of the State are paid
SEC. 8. All the books, records and pa
pers Of the office Of the Commissioners of
the Sinking Fund, {excep, the books in
New York for transfer of stocks and pay.
ment of interest,) shall be kept at the Office
Of the Acting Commissioner, at the seat of
Government OF the State. .-. a. ...
Sec. 4. All the books, records. journals.
documents and papers, kept by the Acting
Commissioner. shall at all times be sub
iect 10 the examination of the Governor,
Treasurer, Members of the Board of Pub
lie Works, and any Member ofthe (ien-
eral Assembly: and the Commissioners of
the Sinking Fund shall annually report,
as is required by the Constitution of the
Executive officers to the Governor, the
condition of the public debt and of the
Sinking Fund. and their proceedings in
relation to the same; and also such other
or additional reports as may, at any time.
be required by either branch of the Gen
eral Assembly. .ls a eH s,. -a
Sec. 5. The Commissioners of the Ca
nal Fund, shall. Immediately after the pas.
sage Of this act. pay over to the Treasurer
OF State. all moneys in their hands belong.
ing to the State, who shall give duplicate
receipts therefor; one Of which receipts,
with all books, records. papers and furni-
ture ofevery description in their possession
or custody, belonging to the State. shall,
at the same time. be delivered to the Act
ing Commissioner of the Sinking Fund.
SEC. 6. The Acting Commissioner of
the Sinking Fund is hereby especially re.
quired, authorized and fully empowered,
under the advice and with the concur
renee of the other members Of the Board.
to cause TO be paid the interest on the fund
ed debts of the State, and redeem, accord
ing to law, all the valid certificates Of the
Public debt, which have been assigned or
created on the part of the State; and to
preserve. 10 the extent of his power. the
faith and credit Of the State; for which
purpose he may, with the concurrence of
said Board, execute and deliver in behalf
of this State. all necessary certificates of
the public debt, and other instruments Of
writing relating thereto, which by law may
be required to be issued. a ... ....-.,,..
SEC. 7. The Commissioners Of the Sink
ing Fund shall be successors to the Com
missioners of the Canal Fund. a.-a
Sec. 8. 1t shall be the duty of the COM
missioners of the Sinking Fund to select
some suitable office or place, in the city
Of New York, and to appoint an agent. by
whom, and at which place transfers Of the
Stock OF the State may be made, and prin-
cipal and interest of the foreign public
debt be paid, under such rules and regu-
lations as they may adopt, in conformity
with the existing laws OF the State
SEC. 9. All moneys paid into the State
Treasury. belonging to the Sinking Fund,
shall be disbursed by the Treasurer OF State
to the Agent for the payment ofthe principal
and interest of the public debt, in the in
vestment of the Sinking Fund, or for other
purposes, as other moneys are disbursed |
upon the draft Of the Auditor Of State. 10 !
be drawn upon the reguisition of the Com
missioners Of the Sinking Fund. which
requistion shall be recorded upon the
journal Of said Commissioners, and sign
ed by the Acting Commissioner, and at
least one other member Of the Board.
SEC. ~. All reports now required, by |
law to be made to the Canal Fund Com.
missioners, shall hereafter be made to the
Commissioners of the Sinking Fund, ex-
cept as may by law be otherwise provided
for. JAMES. C. JOHNSON,
Speaker Of the, House of Representatives..
t,e. WILLIAM MEDILL.
y ~ u m President Of tie Senate.
March l9, 1852. !