Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1859-07-14
SI3.S97.2 .242 90

Shall be- and hereby is made guide and direction obli-
gaory upon the commissioners of the sinking fund for
the time being in the discharge of their official
Sec. g. AL any portion Of such certificates of the
funded debt of the state be renewed herein de-
scibed may be made and issued with the principal and in
terest payable at the treasury ofthe state at the seat of
Government at the office of the agency of the state
the city of ew York and at other place whatever
And all certificates of the funded debt issued do
mestic debt the principal and interest of which is made
payable to the party parties taking the same his her
or their order, as the case may be.
Sec The interest on all the certificates OF the fund
ed debt of the state to be issued domestic debt to
portion OF the funded debt of the state coming
payable aforesaid shall be made payable sem-annual
E (eyery six months) on the first day of February and
the first day of August in each year. from the time of
their being issued. And the interest on al the certf
Gates the funded debt bf the state to be issued for
eign debt any portion the funded debt the
state coming payable aforesaid shall be made payable
semi annually, (every six monthsl, the first day of
January and the first day of July in each year. from
the time of their being issued. And certificate of said
funded debt issued foreign debt the principal and
interest Of which shall be made payable in the city ofN.
York, shall be issued Of less denomination amount
than thousand dollars for fractional part of
Thousand dollars above that but certificates of
the funded debts renewed the principal and interest of
which made payable at the treasury the state at the
seat of government of the state, domestic debt may
be issued in amounts of one hundred dollars FIVE hum
dred dollars thousand dollars. be prefer
red by the party parties taking the same and also for
any fractional part of the sinking fund of And
there may be attached to ell such certificate Issued as
domestic debt interest," coupons, or debentures for
er- six months interest coming due and payable, from
the time the issuing of such certificate to the period of
the final redemption and payment of the which in
teres coupons debentures may be taken by the
ty reasurers in lieu Of money in payment of taxes due
the state that to saw the interest coupons debentures
coming due the first day of February in any year.
may be taken for taxes due the preceding 10Th of
Der, and interest coupons, debentures coming due
the first day of August any may be taken for taxes
due the preceding Goth of June and be received from
them bv the treasurer of in lieu of money and paid
the warrant of the auditor of state drawn the
requisition of the commissioners ofthe sinking fund.-
cordng to the requirements law for the payment of
the interest the funded debt of the state but such
coupon ebenture sea be taken bv any county
he received of county treasurer by the treas
Of state by the commissioners of the sinking fund
for greater amount than the simple interest
pressed theren and all such coupons debentures
paid by the state shall be cancelled classified arranged
and carefully recorded and preserved in book books
to be kept Ter that purpose by the said of
the sinking fund in their Office at the seat of govern
ment; in lieu of the duplicate pay rolls required in
regard to the payment of the interest the
foreign funded debt of the state. And it shall also be
part of the official duties of the said commissioners to
make such requison Aforesaid; and ii shall be part
of the official duties of the auditor of state to draw such
warrant the treasurer of state for the paving
aforesaid, of all such coupons debentures often
in each week and otfener deemed essential the
interests of the state by either the auditor of state the
said commissoners in which of the said coupons
debentures shall have been recey ed into the state treas
ury Aforesaid And the treasurer of state shall also
make out and register in his office, complete schedules
of all such coupons debentures received by him
from county treasurers and paid to the commits
ioners of the sinking fund the warrant of the audi
tor of state drawn aforesan and also shall furnish
copies of all such schedules to the comptroller of the
at the close of business each day which
such coupons dcbentures shall be paid by
him.
Sec 5. 1t is hereby made the special duty ofthe
of the sinking fund advertise for proposals
bids for the taking of all portion of the funded
debt of the state to be renewed herein provided
domestic debt herein described for the term of at
least six months next preceding the time set for the clos
ing such bids proposals for the taking of such do
mestc debt in at least newspaper of general crcua
ton published in each county in this state. And what
49, Ial4 he nd
time shall remain without being taken such domes
tic debt the terms herein specified after the expira
ton of the said term of six months in which the
may be taken such domestic debt aforesaid shall be
offered by the said board of commissioners of the sinking
fund for the sale the city of New York a foreign
debit and for that purpose the said commissioners shall
advertise for proposals bids for the in at least
two newspapers of general circulation, published in the
city of New ork for term of at least sixty days next
preceding the day set for the closing of the bids pro-
posas for the taking of the And all certificates of
such renewed funded debt that may be issued by the said
Of the sinking fund to the party or parties
who shall take the same such domestic debt afore
d at the lowest rate of interest not exceeding six per
entum per and at par that being the full amount
expressed the face of the certificates thereof
for all such part or portion the funded debt of the
state to be renewed that shall not be taken do
nestle debt aforesaid within the term of six months
aforesaid the said ssioners of the sinking fund
shall issue the certificates thereof to such party par
lies who shall agree to take the with the principal
md the interest thereon payable in the city of New
ork foreign debt, herein specified at the highest
ate of premium for such shall bear interest at the
ate Of six per centum per at par. said commits
oners may judge to be most for the interest of the
tate: provided that bids offers to take either
domestic foreign debt containing fractional parts Of
per centum other than one quarter half three
quarters shall be received and in shall there be
certificate of the funded debt of this state coming
,ayable that shall bear higher rate ointeres than six
cent. per annun shall any such certificate bear
interest at the rate of six per cent per annum be is
ued, sold, exchanged, disposed Of, in any what
ver by the said commissioners at price less than par
shall there be amy commissions, expenses charg-
allowed the sale and conversion ereofinto money
hat shall reduce the net amount brought into the state
reasuy below the amount expressed upon the face of
he certificate 5 issued.
Sec. 6. That in all cases where there shall be
han bid, proposal. TO take any portion of the
undec debt ofthc state so to be renewed either do
nestle debt foreign debt herein described at
rate equal to each other and most to the interest of
he state the commissioners the sinking fund shall
pporton the amount equally and fairly between the
arties making such bids proposals: provided that
lids for the smallest amounts of the domestic debt
hall be preferred TO bids for larger amounts at the
ate.
Sec T. Any holder Off certificate of the foreign debt
II the state may at any time surrender The sme to the
commissioners of the sinking fund and receive In lien
hereoia cerlcae ofequu amount Of the domestic debt
herein specified and said shall make the
lines when tho various portions thereof ctme payable by
he state, 10 wit:
the foreign debt the principal and interest of which is
payable in the city of New York.
st. Six millions, fnnr hundred thirteen
Thousand, three hundred tS enty five dol
lars, twenty-seven cents, bearing interest
at the rate Of six per cent. annum, COM
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