The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1856-05-07
laws OF OHIO.
PUBLISHED BY AUTHORITY.
AN ACT,

AN ACT
To provide for tho payment of the Public
Debt Of the State, due January l, 1857, and
for the payment of the interest on the
Public Debt. rs
SECTION !. Be it enacted by the General is
sembiy. Of the STATE of, Ohio, That the commits
sioners of the. sinking fund be, and they are
hereby authorized to issue in accordance with
the provisions and conditions of the act of
February 4, ls25, creating the State debt, and
of the several acts amendatory thereof, trans
ferable certificates of stock bearing interest at
a rate not exceeding six per centum per an
mum, payable semi-annually at the transfer
agency in the city of New York, the principal
to be Reasonable at the pleasure of the State,
at such time between the year 1875 and the
year1s86, as the commissioners of the sinking
fund may determine; the certificates to be
transferable at said agency in the manner pre-
scribed By Law, or coupon certificates as the
said commissioners may deem most advisable
to be registered at said agency.
SECTION 2. The said commissioners shall
not, BY. authority of this act, issue certificates
to In amount greater than the principal of the
funded debt of the State, made payable at the
pleasure of the State after the year 1856, after
the application of the sinking fund available
fol, that purpose, to the payment thereof; nor
shall they sell any certificate of stock at a rate
less than the par value thereof.
SEcTioS g.. The moneys arising from the
sale of the certificates authorized by this act,
shall be applied by the commissioners of the
sinking fund, to the redemption of the c~ertifi-
Gates Of the funded debt of the State, made
payable as stated in the second section of this
act, and to no other purpose.
SECTION 4. The following sums are hereby
appropriated of any moneys in the treasury
belonging to the sinking fund including the
!. amount that may be raised by the sale of GER
.tihcatss as provided in the list section of this
: act for the year 1865, viz: For the paynient of
the ~semi2annual interest to become due o.
the foreign debt of the State, on the first day
a of July, 1856, and the first day of January,
1857, and the semi-annual interest to become
! due on the domestic debt of the State on the
first day of May, and the first day of Novem-
Der, 1856, the sum of eight hundred and thir-
ty thousand dollars. For the payment of in
terest on school and trust funds, held by the
State, one hundred and thirty-three thousand
eight hundred and thirty dollars. For the
payment of the foreign debt of the State, pay
able at the pleasure of the State, after the year
1856, two millions five hundred and nine thou
sand dollars. For the payment of the debt of
the State past due, the certificates of which
have not been presented, for payment and not
bearing interest, two thousand three hundred
ana ffty dollars.
For the payment of the salaries of the trans
fer agent and registrar in New York City and
contingent expenses of their Offices for the year
1856, q sun not exceeding eight thousand dol
lars.
SECTION s. This act shall be in force from
and after its passage.
A1Fs N. H. VAN WORRIES,
Speaker of the House of Representatives..
THOMAS H FORD,
President of The Senate.
April 5, 1856.
AUDITORS OFFICE, Monroe County,
ksetsX May 5,.1S55.
/ have compared the foregoing with the laws
published .ty authority in the Ohio States
man, d find the same correctly copied.
]. S. HOLIDAY, .4uditor.