The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1859-06-10

the parties taking the same, and also for any
fractional part of the Sinking Fundof any year.
And there may be attached to all such certih-
cate so issued as domestic debt, interest, cou-
pons, or debentures for every six months inter-
est coming due and payable from the time of the
issuing of such certifc to to the period Of the
final redemption and payment of the same; which |
interest, coupons or debentures may be taken by
the County Treasurers in lieu Of money in pay
ment of taxes due the State that is To say the
Interest, coupons, or debentures coming due on
the first day Of February in any year may be
taken for taxes due the preceding 20th of De-
cember, and interest, coupons or dcbenturcs
coming due on the first day of August in any
year may be taken for taxes due the preceding
10th of of June, and be received from them by
the Treasurer Of State in lieu Of money, and
paid over on the warrant of the Auditor of State,
drawn on requisition of the Commissioners OF
the Sinking Fund, according to the requirements
of law, fer the payment of the interest on the
funded debt of the State; but no such coupon or
debenture shall be taken by any County Treas
urer, or be received by any County Treasurer by
the Treasurer Of State, or by the Commissioners
of the Sinking Fund, for u greater sum or a.
mount than the simple interest expressed there
in; and all such coupons or debentures SO paid
by the State shall be cancelled, classified, arran-
ged, and carefully recorded, and preserved in q
book or books, to be kept for that purpose by the
said commissioners of the sinking fund in their
office, at thesscat Of governments in lieu of the
duplicate pay rolls, as required n regard to the
payment of the seini-annual interest on the for
eign funded debt Of the State. And it shall al
so be n part of the official duties Of the said
commissioners to make such rcquistion as afore-
said and 1t shall be a. part Of the official duties
of the Auditor of State to draw such warrant on
the Treasurer of State for the paying over, as
aforesaid, of all coupons or debentures as often
as once in each week land oftener if deemed es-
sential to- the interests of the State by either
tho Auditor of State or tie said commissioners
in which any of the said coupons or dobenturcs
shall have been received into the State Treasury
as aforesaid. And the Treasurer Of State shall
also make out and register in 3 office complete
schedules of all such coupons or deoentures so
received by him from County Treasurers, and
paid over to tho Commissioners of the Sinking
Fund on the warrant of the Auditor OF State,
drawn as aforesaid. and also shall furnish cop
les of all such schedules to the Comptroller
OF the Treasury at the close of busines on each
day, on which any such coupons or debentures
shall be so paid over to him.
Sec. S. 1t is hereby made the special duty OF
the commissioners Of the sinking fund to adver-
tse for proposals or bids for the taking Of all or
any portion of the funded debt Of the State SO
to be renewed. as herein provided as domestic
debt as herein described, for the term OF at
least six months next preceding the time set for
the closing of such bids or proposals for the Ia
+. king of such domestic debt, in at least one news
paper Of general circulation, published in each
county in this State. And whatever portion OF
the said debt so to be renewed, at such time as
shall remain without being taken as such do
nestle debt on the terms herein speclhed, after
the expiration of the said term OF six months in
which the same may be taken as such domestic
dcbt as aforesaid, shall be offered BY the SAID
board of commissioners Of the sinking fund for
the sale in the City of New York as foreign
debit and for that purpose, the said commission
ers shall advertise for proposals or bids for the
! "a me in at least two newspapers OF general cir
culation. published in the city Of New York, for
j d term of least sixty days next preceding the
! day set for the closing ofathe bids or proposals
Z for the taking Of the same. And all certihcates
of such renewed funded debt chat may be issued
2 MS such domestic debt as hereia described shall
be issued BY the said commissioners Of the sink
ling 1und to the party or parties who shall take
the samc as such domestic debt as aforesaid, at
the lowest rate of interest not exceeding SIX per
centum per annum, and at par, that pelng the
full amount as expressed upon the face OF the
certificates thereof And for all such part or
renewed, that shall not be taken as domestic
debt as aforesaid, within the term of six months
Las aforesaid, the, Commissioners Of the Sinking
'1Fuud shall issue the certificates thereof to such
party or parties who shall agree to take the
same with the principal and interest thereon,
payable in the Guy OF New York, as foreign
debt, as herein specified, atthe highest rate OF
premium for such as shall Bear interest at the
rate Of SIX percent per annum, or at the low
est rate Of Interest, under sixs porcentum 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
domestic or foreign debt, containing fractional
parts of one percentum other than one quarter
over half or three quarters, shall be received,
and in no case shall there be any certificate ol
the funded debt of this State ssusds so to redeem
!, any portion of the funded debt of this State
coming payable, that shall bear higher ra t.
than six per cent. per annum nor shall any
such certificate bearing interest at the rate Of
, tsix per cent per annum be issued sold, exohan-
ged, or disposed Of, in any way whatever, by
the said Commissioners at price less than par
: Nor shall there be in any commissions express
es or charges allowed on the sale and conversion
thereof into money that shall reduce the net a
mount brought into the State Treasury below The
amount expressed upon the faceof thecertihcat'
so issued
Sec. 6. That in all cases whore there shall b'
more than one bid or proposal, to take any por
tion of the funded debt of the State so to be re
, newed, either as q domestic debt, or a foreigI
debt as herein described alta rate equal to eae!
other, and most to the interest of the STATE, tn
{ Commissioners of the the Sinking Fund shal
e apportion the amount equally and fairly between
: parties making such bids or proposals; pro
Q vided, that bids for the smallest amounts at tn
the rate Of the domestic debit be preferred to DID
7 for larger amounts at the same rate
I Sec. Z. Any holder of o certificate Of the 70
r sirti dsbt of the State may at any time surrel
. der the same to the Commissioners Of the Sink
: ing Fund, and receive in lieu thereof certitl
\ tcate Of equal amount Of the domestic debt