Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1858-07-28
ST AN ACT
mo. 1881
April

To define the Powers and Pres :rihe the Dates . Tic
Board Of Commissioners OIL t- Sinking Fond.
sEcrTos l.. BE Il sac-tc5 81 ths Geas-af .Ssseabiy
p; fEs SfcteUf Ohio, That .ht b0s-i d commissioner.
composed OF the anGi:eT OF state. secretary Of state and
attorney gel aeral, created IS article ei-hth. section
eighth Of the constitution styled ana h 'Wn IS the
lcard Of commissioners Of The sinking fund. Is hereby
crgsn.ze5 b. constituting the auditor Of state the PRES
dent thereof, and the secretary u stare secretary mere
Of. and the said president, and sEe said secretary shall
goid their sand Offices d1-tLg the tiEe Ihey may Respect
ixsiv DC sach auditor o. sr-te aui secretary OF state
and it shall he the duty Of tie said president AM the
said secretary Of said aosrl. Sith the advice and con
currence in writing. Of tie ether uenher Of the board.
10 do snd perform all AID singular The suties prescribed
By this ac:; Provided tEat nothing IN tA's ACT con
timed shall be 50 construed as TO prevent a ~E5j0rity
Of the board fran trans=r;ins any ansiucss authorized
BY tiis act
sEc.e. The secretary shall keep a complete and iulI
;ocrnSl OF al the proceedings. sni aTi=rs, a1t reElisi-
;ions. and acts OF the said beard Of commissioners 81
the sinkin- seni. .c-c.hs- With 4 register OF all t.
certificates Ct the rlaiic funded dent, ans O. all trans
sers Of the saue. =@d 81 otLer paper, issued - nlese
by the order Of said Loarl; and s@. Solr' nsay appoint
aclerk to assist the secretary 81 . salary not rSceel-
;nr o. -boussrj do-isr- .er aug-.a. to lie naii gaarts-
vesri- In eousl amoErts. OF the Grst Monday CT Jaa
usry. April, JAY and Uetossr. IN each year. hy war
rants Of the auditcr c. ssate- drawn IN purs1arre o. a
requisiiiea OF tie said commissioners on tue treasurer
Vi stste, "a the fora ana manner .. a=ieiH pFescioe1'
Eko shall Tay the sEle OFT OF the sinking i1ad-
Src.3 2. Tie Toou Of oficc provided Cor tho rse of
TIE Commissioners or The sinking "a / ii tie sttc
ha.se. 81 the seat of government. shall De held IA Ia
. be the 0Ec= OF the said board ans ct the @"a~<-
,-cords. correspondence and ether r:rers If eSe-y
description. He;e. Ei2g 70 tae oLlc= cftse c1Elss5one1s
az the linking f1EG. t-xceft he books necessary 70 he
keEs in tie city OF NeE- EoTs. fer Tie preliminary
t~raasfcr CT tie certificates of the YcaNc 5-ht Ct the
s;a.e. and the paymen. OF the interest ther=ono shall
&c Eept n the on oS the commissioners IL th- -taie
hozse. al the sezt % government CT the STATE. au- n nc
other place And Il IS nele"y uFi- -&s e-iccisi "lty
Of the state house co -tciss.oavrs to proceed forthwith
,eprepa-s such Feol, ~ rooms, o. Ohce-sns r~r0v.is and
construct II thE most Pe:iect DHrner ali such IRE Prso'
vsrlts or safes, as The ssid c commissioners of the sink
jig fund ms- require IL the performance OF III II 81
: ard for TIE pergsct safety Of all records. q PAPERS,
80 -o-a-fzrz Of any kFrl this may u gHN FFua
hrlcTg ts their said cfice. Or re II their crst-jJ, or
unis- their control
SEc.z I. Al .he hooks, eorls-jo5Taai documents
and papers Of all kinds and e-ery;a;rs h~e!on-inr q"
The Office Of the said commissioners 81 The sinking fund,
or that may PC n their noSseSs"n or INFER ;'eir con
troll, sh2li a. all TINES ~ =l'i-et TO iu>secs0u aha
examination hy the couIissIlle-s Il il>-5CtlaH rrI
vided BIZ lax . be appointed by The governor, foT t4e
inspection and examination 4 the state treasury, aUl
shall also be subject al al da-s 70 ne ex-u'aari0n %
ihe governor ard L: ssUra- q state, s-ie: arg c1l
inittee eppcirced : tEc general azs@nhg "r aay rnm
mitt-e appointed b. ether branch uf to- --s--ai
assembly. and the commissioners q the siHk.r2 fisi
slsli semi annually r-purt.as state "r eXsca- ~ elztrs
are required 70 report. % tic governor tTa c~5raii'u
OF the public ueht 2aG re s-n1tns .1-t- sld also. Hl
and singular. their proceedings IN s.iati0u ~ liz same:
aud shall also make al snsh other Or a~iait.aHa. re
rH-ts, Sc nay at say tine he required ~ l-Fs or -
ioint resolution Of tic general asse-a OF D. r-so;s
zion Of either branch Of tie EclerI' s~szgElsiy. or 10y
[ re governor. .
commissioners Of the sinIinE flnl. ave hereby espe-
eially required. authorized. AMI iai'F empowered, ly
ana WIKI ~ anu 49, - 80 eAINA --NA-
Der OF said board. to cause to be ped promptly and
according 10 the tenor Of each Certificate Of the public
debt, ana according 20 Jazz. the incest as it nay be-
come due on al The funded tr"i 81 "a stare and
redeem and ray according 20 Tag. al the valid certiE-
Gates OF the public deAl which f-se i-ee lawfully Gre
atcd on the part or the sttfe.2Io iCg ~ -irDent and use
of the ttate and they are herelg iur her Specially
required to preserve 70 he extent - ta-.r power and
ahiIity. q. all times and und.s az circumstances, the
good fash a@d c-edi. Ct tha stst0-
SFc. 6. All mercy paid IH.y tde s. ;e treasury to the
credit Of the sinking fund o='aasi ,a tlr sane s-aii
only be paid ut ~ tie treasurer Of stats, On tie UaT
ga. d the auiiteF o. "e, et@N1 On r-3 =i1i''
zoo comUiissi-lIess Of he sinking frlt-Gna -irh Tv.1l
stiOn shall ie recorded Ia TIE Vaacr ri 5-t--m-l.-
si0ners. ard saaii particularly specify rue isrroSe and
oaject for which Che sane IS HsGci auj ssi3 r7:Cisi
ton shall lie attached 70, o. be o. raFt 81 said WARRANT.
-rich shall lie drawn by -n- au5,iar ri state il cnu-
fornity thereto: and the SAID yarsaat 50 aravn sa-ii
specify said requisition, ana he E.Iie la-.b 70 ;ae
order Of said commissioners Of the sinAin- ia1d. aud
shall be By them endorsed cver 10 the srrci-l @ ivet
FIR which is drawn, whether the soma lie the rarD'-Hr
of the interest o. ans Fa!t Of lie pU bic ielt o. -. t.e
Sc Z. The saii Commissioner ar h=reiy author
eai Gnd required, as often 20 there shall ae r.nuev ID
tle treasury to IRE croli. q the sinking FIND. iwa,cL
. tsli not be required 10 .sT tfe interest on the rublic
dehs,) To eppiy the same 20 tie Investment ia or ply
neut and -edenption Of Euch Fa-t Of tie TGtlic d-Ar,
whether he same he foreign or domestic, as r'.y lie 50
redeemed and paid, or invested in o. terms wEich nav
he most 20 tie interest Of Tie ss1s=. and - 30 otarr use
or purpose whatever, and i ary snch i.restneat shall
be made N The certificates ot the funded debt of this
state maturing after the time al which sach funds SHAH
be required FOR the redemption OF any pIrt Of the ru3
lie debt Of the STATE, the cOnIo ssi3lers shall have
power. and they are hereby authorized to sell and
transfer such certificates in the manner aud form Vrs
scribed fOr transfers in ether cases and apply the pro-
eeeis to such redemrticn or payment, and 10 ne cther
use or purpose whatever
SIC. s. Previous to the frg: dav Of January and July
in each year. 1t ieas. two Of tn mem5e' : Of TIE boar
conveyed to the city &c EeE ! ork. q sufficient au;cani
81 money to pay the ssBi annual inter 81 then coming
due on ali the funded debt or which Jae interest IS pay
able in said city; ans on their arEiva! IL sail city shai!
give public notice in some newspaper OF curren; circu
la:on in said city, ard by such othe. means a. to them
SDpe3rs most proper. that they are present and reads
at the agency o. the state to pay all such interest; and
II the interest on the whole ot the Outstanding stocks
or funded foreign debt Ct this state shouli not te de
Iaanded and paid hefure the expiration Of fourteen days
from said drst day Of January and july respectively.
then aud in that case the said commissioners shall
bring all the remaining money hack with tLeu to the
AcS; OF government and pay the SAM on the Certificate
Of the comptroller Of the treasury, las reacired by la~N
INTO ne sizte treasury 20 The credit Of the sinking fGnd;
ana II the oTnef ~ any such stock Who shall not have
r-csivei the said seni-anB1al interest shall deisre 10
yeosiFs tAe sane, tlc amount thereof shall he paid %
LIN ~ lbs agent, a, attorney. At the Office Of the rn-rl
&C commissioner iy tia warrant Of the sulitor q state
drawn OF the treasurer % state On the requi=it:on of
s,iA commissioners IA the manner snJ fe-n, bars;,
provided and described; ami N sn cases :ie iuferes:
asl the funded dsit OF This st=.e sf:i, only he paid t.
re owner thsrsof, or to his or her legoiiy gu horise5
agent or attorney.
sEn. 9. 4 majority OF the board o. Commissioner o.
the sinking fa5d shall. n as early Z d. az practicable.
slST ne pissase OF this aet' nrocset 70 the city Of New
government q this state and place in the rfce Of said
hosrs all and ~sinrglar. tins looks. = coris, parers, car
fsspoai encs certificates. er sravei or printed or Sr.-
ten Ps9er. caece.lel or not e%inseliel; AID ali I one,
prop ertv. assets aai ELECTS Of ever description ieicng-
I'M &c the state. which nay he in the passeszio1, Gus
toby. control. or care n anr ilsti,1tion cor 'sny. a7ss-|
citation. or person y~hstsyer, within said city. or At an.
other place
Sec. 20. The sail csnmissioaers or ths sinking fund
shall, al the same tine. m-ks al tbs necessary arange-
nenfs for an sgency to be kept in some Convenient place
IN the city Of New York, At WHICH abe semi ann.ai in
tefsst shall be fsithfuliy paid OF al thst . ~ Of the fund-
ed debt of this t.ats, which BY the terms expressed upon
fhe face ofthe certificate thereof, is made payable ia said
uify; and the sgent 10 be appointed 20 attend 10 the bas-
iHsss Of this state. in assisting TIE said commissioners in
paying the said Interest, shall also act as the agent OF
his state in resolving fon- any person holding ! eer;if-
cate or csrnicases Of the public deb. as aforesaid. who