The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1859-05-25

SO make o&t, and register In hfs othces comprise
schedules Of all such coupons or dehentures SO
received. by him from county treasurers, and
! paid over 70 the commissioners of the sinking
fund on the warrant of the auditor, OF, state,
drawn as aforesaid and also shall furnished
pies of all such schedules to the comptroller OF
the treasury AT the close of business on each
day, in which any such coupons eli debentures
shall so be paid over by him. ..f.t
SEC. 5. 1t. rs herebJ made the special duty
of the commissioners of the sinking fund to
advertise for. proposals or bids for the taking of
all or any portion of the funded debt of the
states so to be renewed. as herein described, for
the term of at least six months next preceding
the time set for the closing of such bids or pro-
posals for the taking oe such domestic debt, in
at least one newspaper of general circulation,
published in each: county in this state. And
whatever portion Of the said debt so to be re-
newed, at such tipie as shall remain without
being taken as such domestic debt on the terms
herein specified, after the expiration of the
said term of six months in which the same may
be taken as such domestic debt as aforesaid,
shall be offered by the said board of ommiss
sioners Of the sinking fund for sale in the city
of New York as a foreign debt ; and for that
purpose, the said commissioners shall advertise
for proposals or bids for the same in at least
two newspapers of general circulation, publish
ed in the city Of New York, for a I'm Of at
least sixty days next preceding the day set for
the closing of the bids or proposals for the ia
king of the same. And all certificates of such
renewed funded debt that may be issued as
such domestic debt, as herein described, shall
be-issued- by tue said commissioners of the
sinking fund to the party or parties who she'll
take the same as such domestic debt as afore-
said, at the lowest rate of interest not exceed
ing six per centum per annuIn, and at par, that
being the full amount as expressed upon the
face of the certificates thereof. And for all
such part or portion Of the funded debt Of the
state so to be renewed, that shall not be taken.
as a domestic debt as aforesaid, within the
term of six months as aforesaid, the said COM
missioners of the sinking fund shall issue the
certificates thereof in such party or parties
who shall agree to take the same with the prin-
clpal and the interest thereon, payable IN the
city Of New York, as d foreign debt, as herein
specified, at the highest rate of premium for
such as shall bear interest at the rate Of six
per centum per annum, or at the lowest rate of
interest, under six per centum per annum, at
par, as the said commissioners may Judge to be
most for the interest of the state provided,
that no bids or offers to take either as a domes-
tic or a foreign debt containing fractional parts
of one per eetftdhi other than one quarter
shall be received, in no case Shall there be any
certificate of the fuhded debt of this state is;
sued SO to redeem any portion OF the funded
debt Of this state coming payable, that shall
bear a higher rate of interest than six per cent.
per annum; nor shall any such certificate bear
ing interest at the rate Of six per cent. per an
mum be issued, sold, exchanged, ordisposed OF,
in ant way whatever, by the said commission
CTS at a price less than par. Nor shall there
be any commissions, expenses, or changeS al
lowed on the sale and conversion theref into
money that shall reduce the net amount brought
into the state treasury below the amount ex-
pressed upon the face Of the certificate so is
sued.
Sec. 6. That in all cases where there shall
be more than one bid, or proposal, to take any
portion of the funded debt of the state 50 to be
renewed, either as a domestic debt, or as a for
eigii debt; as herein described, at a rate equal
to each other, and most to the interest Of the
state, the commissioners of the sinking fund
shall apportion the amount equally and fairly
the parties making such bids or pro-
posals provided, that bids for the smallest
of the domestic debt shall be preferred
to bids for larger amounts at the same rate.
Sec. 7. Any holder of a certificate of the
foreign debt Of the state may at any time sur
ender the same to the commissioners of the
fund and receive in lieu thereof a GER |
ifcate of equal amount of the domestic debt
is herein specified, and said commissioners shall
make the necessary registries and entries on
heir books and cancellations and transfers
hereof.
Sec. 8. The following schedule or statement $
f the funded debt of the state exhibiting the I
mounts and the times when the various por- a
ions thereof come payable by the state, to- Wi : a
the foreign debt, the principal and interest Z
of which is payable in the city of New York. i
st. Six millions, four hundred S
thirteen thousand, three hun q
dred twenty-five dollars tyeh- s.
ty-seven cents, bearing inter- q
est at the rate of six per cent: p
%anhuIh, coming. payable at a
the pleasure Of this state, az u
ter the 3lst dayofDecember, u
1s6O.----. s6,41s,s25 &c Q
d. One million and twenty u
FIVE thousand dollars, bearing al
interest at the rate offve per u
cent. per annum coming pay II
able, at the pleasure of the u
state, after the 31st day of Il
December, 1S65----- 81, 025, 900 90 al
/. Two millions, one hundred q
eighty-three thousand, five IN
hundred thirty-one dollars OF
and ninety-three cents, bear 0.
ing interest at the rate of six &C
per cent. per annum, coming 10
payable lat the pleasure of the OF
state. after the 31st day of 81
DOOCLuOCi, 1OtO---------- S-,4Co,OO4 90 =
h. One million, six hpndrcd nt
thousand dollars, bearing in SO
terest at the rate of six per ne
cent. per annum, coming pay -
able, at the pleasure of the u
state, after the 31st day of tni
December, 1S75.------- 100000 90 al
Two millions. four hun
dred thousand dollars, bear &C
ing interest at the rate of six u
per cent. per anhhund, coming y
payable, at the pleasure of eo
the state, after the 31st day -, =
of December, 1S86----- 100000 90 tel
Amount of foreign debt---s13,e21,s57 20
h. Two hundred seventy
five thousand, three hundred
and eighty-fve dollars, being
the amount of the domestic -,
debt, the principal and inter- e
of which is PAYABLE at the Il