Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1854-06-07
AN ACT

fll21 AN ACT
Making appropriations for the payment OF prn-
cipaI and interest of the public debt of Ohio,
for the year eighteen hundred and fity-four
and eighteen hundred and fifty-ive, and levying
taxes for said purposes, upon the grand list OF
the State.
SEC. |. Be IL enacted by the General Assembly
ofhe State of Ohio, That the following sums be
and are hereby appropriated, out of any moneys in
the treasury, belonging to the sinking fund, for
che wear eighteen hundred and ffty-four, viz For
abe payment of the sem-annual interest on the
foreign and domestic debt of the State, to become
due on the first day of July, eighteen hundred and
fifty four, and the first day of January, eighteen
hundred and fifty-fve, eight hundred and eighty
eight thousand dollars for the payment of inter-
est on school and trust funds held by the State,
one hundred aud twenty-one thousand dollars.
Sec. @ The following sums are hereby appro-
priated cut ofany money in the treasury, belong
ing to the sinking fund, for the year eighteen
hundred and ffty-6ve, viz: For the payment OF
the semi-annual interest on the foreign and do
mestic debt of the State, to become due on the
first day of July, eighteen hundred and tifty-fve,
and the first day of January, eighteen hundred and
fifty-six, eight hundred and ftty-three thousand
dollars; for the payment of interest on school
and trust funds, held by the State, one hundred
and twenty-five thousand, five hundred dollars.
Sec 8. All moneys in the treasury, belonging
to the sinking fund, over and above the amounts
necessary to pay the accruiDg interest, applica-
Bile to the payment of the principal OF the public
debt of the State, not exceeding two millions Of
dollars, are hereby appropriated to be applied to
the redemption of outstanding bonds Of the State,
or investment in the sinking fund agreeaby to
the provisions of San act to create sinking fund,
for the payment of the principal and interest of
the public debt of Ohio, passed March fourteenth,
eighteen hundred and ffty-three.
SEC. A. The commissioners of the sinking fund
are authorized end directed, whenever there is
money in the treasury belonging to the sinking
fund, and applicable to the payment OF interest
for the current year, to negotiate WIN the hoia-
ers of outstanding bonds of the State, for the pay
msnt of the interest on said bonds, for said year,
in advance of the time when such interest be-
comes due and PAYABLE; and if the holder of such
bonds or sny part thereof, will make discount
upon such interest, at rate of not less than five
per centum per annum, then the sinking fund COM
mssoners shall Immediately make requsitlon
upon the Treasurer of State, for sum sufficient
to pay such installment or installmentS of inter-
est in advance, of so much thereof as may be
agreed upon, according to the provisions OF this
section.
SEC. s. For the payment of the interest upon
the foreign and domestic debt OF the State, and
school and ust funds, held by the State shall be
and is hereby levied tax of one and one-fourth
mills on the dollar, on the grand list of taxable
property in the State for the year eighteen hun
dred and fifty-four.
6 SEC. 6. For the payment of the interest upon
the foreign and and domestic debt Of the State,
and school and trust funds held by the State there
shall be and is hereby levied tax of one mill on
the dollar, on the grand list of taxable property
in the State, for the year eighteen hundred and
ffty-fve.
SEC. T. That there is hereby appropriated out
of the sinking fund, for the salary of the trans
fer agent, in New York city, and contigent ex-
pehses of his Office, for the year 1854, the sum Of
i've thousand dollars, and fer the year 1866, the
sum Of five thousand dollars; and it is hereby made
the duty Of the commissioners ofthe sinking funC
in their annual report, to give statement in de.
tail Of the expenses of the transfer Office in New
York city. F. C. LEBLOND. d.
Speaker of the House of Representatives.
p t,se ROBERT LEE,
sf15' aia@ President of the Senate, pro tsm
May list, 1854 .'i.-5 'nsf' 81, Pa
-rst AupIToR's OFTrcE, PoRTAcE Co.,l
FeM Ravsnna, June 4, 1854. %
certify that the foregoing laws are correctl