The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-07-08
VOLUME X. NO. 27.

centum per annum, and at par, that being
the full amount as expressed upon the face
of tho certificate thereof And for all such
part or portion of tho funded debt OF the
state so to be renewed, that shall not be
taken as domestic debit as aforesaid, with
in tho term of six months as Aforesaid, tho
said commissioners Of tho sinking fund shalt
issue tho certificates thereof to such party
or parties who shall agree to take tho Same /
with tho principal and tho interest thereon,
payabo in the city OF Now York, as for ,
eign debt rs herein specified, at the highest
ratio of premium for such rs shall bear in /,
terest at the rate of six per centum per
aunum, or at the lowest rate of interest,
uudor six per centum per annum, at par, us
the said commissioners may judge to be
most for the interest of tho state provided,
that no bids or offers to tako either as /
domestic or a foreign debt containing trac- !
tional parts of one per cent UNI other than
ono quarter over half or three quarters shall
be received and in no case shall thcrC be
any certificate of the funded debt OF this
state issued so to redeem any portion OF
the funded debt of this state coming pGyu- !
bio and that shall boar II higher rate Of in I
forest than six per CCut pCr annum no"
shall any such certificate bearing interest at
the ratio of six per cont per annum DO issued,
sold, exchanged. or disposed Of, in any way
whatever, 10y the said commissioners ri
prico less than par Nor shall thCro be any
commissions, expenses or changes allowed
on the sale and conversion thereof into
money that shall reduce tho net amount
brought into the state treasury below tho
amount expressed upon tho face Of the GER
tficate 80 issued.
SEC. 9. That in all casns whore thCro
shall be more than ono bid, or proposed, to
take any portion of tho funded debt Of the
state so to DO removed, either as n domestic
debt, or rs u foreign debt, as herein do |
scribed, at a rate equal to each other, and
most to the interest of tho state, tho com
missioners of the sinking fluid shall appor.
tion the amount equally and fairly between
tho parties making such bids or proposals
provided, that bids for tho smallest amounts
of the domestic debt shall ho preferred to
bids for larger amounts at tho same rate.
SEC. :. Any holder OF Il certificate Of
tho foreign debt of tho state may at any
timo surrender tho same to tho commission
crs of tho sinking fund and receive in lieu
thereof certificate of equal amount Of the
domestic debt as herein specified, and snid
commissioners shall mako the necessary
registrio5 and entries on thnir books and
cancellations and transfers thereof
Sec. 8, The following schedule or statc-
ment Of tho funded debt of tho state exhibit
ing the amounts and tho times whou tho
various patrons thereof como payable by
tho state, to wit
OF tho foreign debt tho principal and interest
OF which is payable in the city OF Now York.
la Six millions, four hundred
thirteen thousand, three hundred
twenty y.iive dollars, twenty seven
cents, bearing interest Ht the rate
Ut six per cent, per anHum com.
lng payable, at the pleasure "t
the State, after the jlst day Ut
December, 1860, S64l3,32j ?7
al. Que million md twenty-five
thousand dollars, bearing interest
Mt the rate ot tive per cent. per
nnuun, coming payable, at tls
pleasure OF tho State, aitcr the
3lst day oi December, 1864 O2J,OUO u
81. Two millions on0 hundred and
eighty-three thousand five hun.
drsd and thiriy-ono dollars Uud
ninety y.three cents, bearing inter.
est at the rate OF six per cent
per annum, coming payable ut
tho pleasure ol Lhc State, after
the 3s day Of December, 1870, 2,lS3,5ll 9
4h One million SIX hundred thou
sand dollars, bearing interest at
the rate of six per cent, per nm
mum, coming payable at tho
pleasure OF the State after the
3lst day of December, 1875. l6JO 900 0
Sth. Two millions, iOur hundred
thousand dollars bearing interest
the rate OF six per cent. per an
mum, coming payable, al the
pleasure OF the State, after tho
;jlst day OF December, 1886 100000 q
Amount Of the foreign debt. sI3,62ls57 :
9th. Two hundred sevcnty.Gye
thousand three hundred and
eighty five dollars, being The
amount OF the domestic debt, the
principal and interest OF whichis
payable at the scat OF govern
nent 2I5,iSJ {
Total amount of the foreign
and domestic funded debt ol
the State, on the Let day of
January, 1850 thirteen mil.
lions Clghthundred and nine.
ty-seven thousand, two hun.
dreG torty-two dollars und
twenty cents. Sl3,sOs, ,242 :
is hereby made guido and direction obi
rGt0ry upon tho commissioners of the sink
ing fund, for tho time being, in tho dlscharg
OF their official dutios, and is also horob
made part of this act, ms cxplanator
thereof. And tho commissioners OF tn
sinking fund, in carrying in to effect the pre-
visions and requirements of this act al
hereby required to issue tho certificate
removal of tho said funded debt, and amt
ally apply the sinking fund to the pnyme
thereof First, to tho removal and payne
in full of the first debt coming payabi
which will be on the first day of Janunr
GlIntcDn nunuTbu anu sixty ONO, NloOl, ,Dii
then to tho portion of tho said debt ne
coming payable. and so ON in order and
succession, so that tho portion of tho sa
debt first coming payable shall DO first tul
redeemed and paid: and tho ccrtGca
first issued shall bo for tho earliest peric
of redemption and payment, aud SO on
such succession and order that tho ccrti
Gates last issued shall be tor the rehampti
and payment of tho portion of tho fund
debt last coming payable, until the cnti
amount, and oyory portion thereof shall
fully redeemed and paid. 1t is howcY
hereby expressly declared that tho tenn
rary debt of the state, created TO roimbul
the treasury by tho act of April II. Is;
amounting to seven hundred thousand dc
lars, tho payment of which being provide
for by special tax, ia not Included in b
is expressly excepted from tho operation
ths act
SEC, o. Tho commissioners of the sin
ing fund arc hereby required to report
tho governor at tho time of making tn
semi-nnnual reports, and at such 9th
times as tho governor may require n
also to the General Assembly. or to oth
branch thoroof if so required by Joint res
luton of the Gonornl Assembly, or by res
l.Kip nF MT lnp ,h tb q Ii 20.