Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1859-05-26


payable at the treasury of the state shsil be is J
sued payable to the party OF parties taking the
same, his, her, or their order, a. the case may |
be.
Sec 4. The interest On all the certificates Of
the funded debt Of the state, 10 to be issued "a
domestic debt ts renew any portion OF the fnn-
dsd debt nf the state coming payable az afo.s-
said, shall be made payable ssmi-snnually. lev
cry SIX mopthsl, on the FIRST day of February
and on the fra. day OF August in each year, from
the time Of their being issued. And the interest
on all the certificates Of the funded neht Of the
state SO to bs issusi as foreign debt TO enaw any
portion of the funded debt of the state coming
payable as aforesaid, shall be made payable
semi annually, leFery six mOnths), OIL the first
day of anuary and on the frst day If July IN
each year, from the time Of their being issued.
Aud no certificate Of said funded debt 50 issued
foreign debt, the principal and interest OF
which shall be made payable in The city OF New
York, shall be issued nf less denomination or
amount than thousand dollars, nor for any
fractional part of one thousand dollars above that
sum; ct certificates of the funded Gebt SO re-
newed, the principal and interest OF which Is
made pa yabe at the treasury Of the state, 1T the
seat OF government of the state, as domestic
debt. may be issued in amounts Of one hundred
dollars, or of five hundred dollars, or one thou
sand dollars, may be preferred by the party
or parties taking the same, and also for any
fraction part OF the sinking fund OF aLy year.
And there may be attached TO all such certificates
issued a dobssfie dsLf, Interest," coupons, or
debentures, for every tix months interest coming
due and payat tle. froln the time Of the issuing o
such Certificates to the period OF the tinai re-
dem ption and payment the same; which inter
est, coupons, debentures may be taken by the
county treasurers in lieu OF money In payment
Of taxes due the state, that is to say the interest,
coupons, debentures coming due on the aIst
day OF February IN any year, may be tahen ior
taxes due the preceding 2DtA OF December, aud
interest, pons or debentures coming due on the
first day of August in any year may be taken
lor taxes due the preceding 2Uth of June, and be
received from them by the treasurer OF state IN
lieu Ofmoney and paid over on the warrant oi the
auditor Of state drawn Oh the requisitien oil the
commissioners of the sinking fund, according TO
the requirements Of law for the payment OF The
interest the funded debt of the state; that no
| such coupon or debenturs shall be taken by any
county treasurer, or be received of any county
treasurer by the treasurer of state, or by the
CON nlssoners of the sinking fund. TOR greater
sum or amount than the si;aple interest express
| ed therein: and all such coupons or debentures
so paid BY the state shall be cancelled CLASSIFIED.
arranged, and carefully recorded, and preserved
| in a book or books, 10 be kept for that purpose
by the said commissioners of the sinking iund, IN
their Office, at the seat OF government; in llsu o
the duplicate pay rolls, required IN regard &c
| the payment of the semi-annual interest on tnt
foreign funded debt OF the state. Aud IT shal
also be q part Of the official duties of the said
| commissioners to make such requisition as aiore
said; and it shall be part of the official duties
| of the auditor of state to draw such warrant Oh
the treasurer of state for the paying over a;
aforesaid, OF all such coupons or debentures al
| often as once in each week land oftener il deem
ed essential to the interests Of the State, by sl'
ther the auditor of state or the said commission
ers,l in which any OF the said coupons or deben
| tures shall have been received into the stat
treasury as aforesaid. And the treasurer oil stat
shall also make out, and register in his Office
! complete schedules of all such coupons or deben
lures so received by him from county treasurers
and paid over TO the missioners oil The SINK
! ing fund on the warrant of the auditor oi state
drawn as aforesaid; and also shall furnish cope
ofal such schedules to the comptroller OF tn
treasury al the close business on each day, II
which any such coupons Or debentures shall o'
SO paid over by him.
Sec. 5. II is hereby made tho special duty 0
the commissioners IF the sinking fund 10 adver
tise for proposals or bids for the taking Of all o
any portion Of the funded debt Of the state 5" !
be renewed. as herein provided, US dolnesti
debt as herein described, for the term OF a
least six months next preceding the time set 10
the closing OF such bids or proposals for the Ia
king of such domestic debt, in at least one news
i paper of general circuistion published 10 oacl
county III this state. And whatever portion 9
the said debt SO 10 be renewed, at such time q
shall remain without being taken As 'uch doinesii
debt on tie Terms herein specified, after the ex
piration Of the said term OF six mcntbs IN hi"
| the same may Re taken as such domestic debt q
aforesaid, shall bs offered by the said board {
commissioners of the sinking fund for the sale a
the city Of New York as foreign debt;S for tba
purpose, tie said commissioners shall adYcrtis
for proposals or bids for the same in at least tw
,h..N.. vattt. Il .haH 4
the citv of New York, for . term of at least SIX
days preceding the day set for the closing Oh til
bids or proposals for the taking of the sam:
and I'll certificates of such renewed funded del
that may be issued such domestic debt, q
, herein lescribaL, shall be issued by the sal
commissioners OF the sinking fund TO the party
parties Who shall take the same as such domest
debt as aforesaid, the lowest rate of interest III
exceeding six per centum per annum, and ct pa
that being the full amount as expressed upon III
| face of the certificate thereof. And for all sue
: part or portion of the funded debt of the sta
| sc to be renewed, that shall not be taken as
domestic debt Aforesaid, within the term
a SIX months as aforesaid, the said commissions
of the s.king fund shall issue the certificate
thereof to such pnrty or parties who shall agr'
! 10 take the same with the PRINCIPAL AMI the II
4 terest thereon, payable in the city of New lori
ae foreign debt, as herein specified, ut the hig
l est rate Of premium for such as shall bear inter
est, at the rate OF SIX rer centuIn p
= aunua, or at the lowest rate Of ntcre
i under six per centum per annun, at par,
/ the said commissioners may judge to be mo
for the interest of the state; provided, that 1
, | bids or offers to take either rs u domestic or
! foreign debt containing fractional. parts o: OF
per centum other than one quarter over halt
/, three quarters shall be received, and in no ca.
: shall. there be any certificate of the funded de-
. Of this state issued so to redeem any portion
II Of the funded debt of this state coming payabl
' ' that ahall bsar higher rate of interest than S
per cent per annuin. nor shall any such certii
cate bearing interest at the rate of SIX per Gel
= per annum -be issued, sold, exchanged, or dispt
= sed of, in any way whatever, by the said con
missioners at price less than par. Nor sha
: there be any commissions, expenses, or charg
! allowed on the sale and conversion thereof 10
: money that shall reduce the net amount broug
= into the state treasury below the amount e.
. pressed UPON the lace OF the certificate so j
- sued.
9 See. 9. That in all cases where there shall
more than one bid, or proposal, to take any po
/; tion of the funded debt ol the state so to be n
= nesed. either as domestic debt, or as foreil
ID debt, as herein described, at rate equal to eas
other, and mos: to the interest of the state, Il
commissioners ef the sinking fund shall appo
ton the amount equally and fairly between Il
parties making such bids or proposals: provide
o that bids for the smallest amounts oi the domeSt
% d. BIT shall DO preferred to bids for larger amoun
" at the same rate.
. Sec. Z. Any holder OF a certificate of tho 70
. egn debt of the state may at any time surrend
% the same to the commissioners of the sinkif
10 fund and receive in lieu thereof certificate