M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1859-05-12
February %, 1859,
NO. 46.l AN ACT.

mo. 46. AN ACT.
Relating 10 the redemption and cancellation
Of the securities for the fu nded debt of
counties in this State.
Section /. BE IL enacted by the General
Assembly Of the STATE of Ohio, That it is
hereby made the duty of the eouuty auditor
of any county in this state owing funded
debt bearing Interest payable at stated peri
DDS, to draw at the proper tines his warrant
upon the treasurer of his county for the pay
ment Of the gross sum of such installments
Of principallnr interest as NAV be then due, or
for such sum of money in the treasury as
may be applicable 10 that purpose, and de-
liver the same to the county treasurer Of such
county, and is hereby made the duty o(
such treasurer. upon the receipt of such war
rant, to make payment of the principal and
installments ofinterest of such debt at the
times aud places of payne nj specified in the
security therefor, out of any money in his
hands applicable to that use; and upon pay
ment of the principal sum or installmenls OF
interest as herein provided, the treasurer
Eshall'take up and bold the obligation or in
terest warrant 90 paid till the same sha Il be
rancelled as herein provided, but il the in
tcrest be provided lorin the body of the obli.
CATION and not by separate warrants therefor
he shall indorse the payment thereof on the
obligation and taken from the holder sep.
arate receipt, specifying the date, amount
number and time ofmaturity Of such obliga.
ton, AMI the date of the maturity Of the in,
stalment SO paid, aud amount and date Of the
payment.
Sec. 2 If from any cause such debt or in
stallments Of interest be not paid at the time
and place Of maturity thereof as aforesaid
it shall be the duty OF the county treasurer
at any time afterwards, to pay the same al
funds in his hands applicable to that use MAJ
admit; but il the treasurer was ready will
funds at the time aud place Of maturity thLre
of 10 make payment OF any such debt or n,
installment ofintere5t thereon, and the hold
er Of the evidence thereof did not have the
same then and there present and in readiness
to be surrendered, or to have the plymen
ndorsed thereon as aforesaid, the county
shall not thereafter be bound to pay any in
terest thereon, till payment shall have beer
afterwards demanded at the Office of tht
county treasurer, and the same refused.
! Sec. g. 1t shall be the duty of the county
treasurer aforesaid, on or before the FIRST Mon
ldav of June next after ihis,se taLss .offset
Ito enter in book 10 be provided for tha
purpose, at the expense of the county, 10 bt
entitled funded debt to the credit of funde,
debt, the amount Of money in gross then il
his hands applicable to the payment of suel
debt, and shall, in like manner, on the frs
Monday Of each succeeding month ENTER il
s1id book to the credit of the same account
, all Sums of money received by him durini
the preceding men,h, applicable to the pay
ment Of such debt, specifying from wha
; sources the same were received, and shall a
T the proper dates, enter 10 the same book t
!, the debt of the same account, all sums dis
bursed by him out Of said fund, specifying Il
, whom and Oh what account, which boo
/ shall be open to the inspection OF all person
: interested in said fund, at all times, and sha
! be kept in the treasurers Office, and deliver
, led over With the Office to his successor i
!, Office. --.l r.
! Sec. 4, It shall be The duty ( the count
/ auditor of each county in this state, OWN
: funded debt as aforesaid, 10 furnish tn
, county treasurer of such county, without uu
necessary delay after the passage Of this ac
I and from time to time afterwards, ss th
, same may be created, an abstract Of tn
{ funded debt Of such county. specifying tn
5 dates, amounts, numbers, times OF maturt
! Of principal. rate and times of maturity Q
, interest installments thereon, and when pay
Z able. and the treasurer shall open such aC
counts thereon in .he book to be provided a
aforesaid, as may be expedient and proper t
D show at all times the amount and seyers
: CLASSES of the funded debt of the county, tn
rate ol interest acoruins thereon, til: pay