Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1859-05-19
LAWS OF OHIO:
AN ACT

Published by Authority-
Az ACT
Relating TO the redemptioa aud cancellation Of
the securities Of the funded debt OF eounties in
this State.
SECTION ]. Be Z enacted Gy dk General As
scm5y Of the State Of Ohio. Thai It is hereby
made the duty of the county auditor of aay
county in this state owing funded debt bear
ing interest payable a stated periods. 70 dzsx
at the proper times, his warrant upoa the tfeas-
urer Of his county for the pay yment Of tie gross
sum of such insiallments Of priaeipal or interest
as may be then due, or for such cum ot noney
in the treasury rs may be appficsble to fhsf
purpose, and deliver the same to the county
treasurer Of such county and it sishersby rssde
the duty of such treasurer. upon the receipt Of
such warrant, to make pay ment of the princi-
pal and iRstallments of interest," of such debt at
the times and places Of payment speci6ed in
the security therefor, out Of any money In his
hands applicable 10 that usc; and upon paw
meRt Of the principal SUM or inatallmeHts Of IN
terest as herein provided. the treasurer shall
take up and hold the obligation or interest war
rant 50 paid till the same shail be cancelled as
herein provided. but If the interest be provided
for in the body of obligation and not by sepa-
rate warrants therefor. he shall iadorse the pay
the holder separate receipt, specifying the
date, amount, number and time Of maturity Of
the installment SO paid, and amount and date of
the payment.
Sec. 2. IF from any cause sneh 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 as funds in his
hands applicable TO that use may admit; but
if the treasurer was ready with funds at the
time and place of maturity thereof TO make pay
terest thereon, and the holder Of the evidence
thereof did not hsve the same then and there
present and In readiness to be surrendered, or
to have the payment iRdorsed thereon as afore-
said, the county shall not thereafter be bound
to pay any interest thereon, till pay ment shall
have been afterwards demanded al the Office Of
the county treasurer, and the same refused.
Sec. 3. Ii shall be the duty of the county
treasurer Aforesaid, on or before the first Mon
day ofJune next after this act takes effect to en-
ter in a book TO be provided for that purpose, at
the expense of the county, to be entitled funded
debt to the credit of funded debt, the amount of
money in gross then in his hands applicable to
the payment of such debt, and shall, in like
manner. on the first Monday of each succeeding
month, enter in said book TO the credit of The
same account, all sums of money received by him
during the preceding month. applicable to the
payment of such debt, specifying from wha,
sources the same were received, and shall, at
the proper dates, enter in the same book to the
debit of the same account, all sums disbursed
by him out Of said fund, specifying to whom
and on what account, which book shall be open
TO the inspection of all persons interested in said
fund, at all times, and shall be kept in the
treasurers Office and delivered over with the of
fice to his successor In Office.
See. l. 1t shall be the duty of the county
auditor of each county in this state, owing a
funded debt as aforesaid, 10 furnish the county
treasurer of such county, without unnecessary
delay after the passage of this act, and from
time to time afterwards, as the same NAV be
created, an abstract of the funded debt of such
county, specifying the dates. amounts, numbers,
times of maturity of principal, rate and times of
maturity Of interest installmeHts thereon. and
when payable, and the treasurer shall open
such accounts thereon in a book TO sbe provi-
ded as aforesaid, as may be expedicnt and pro-
per to show at all times the amount and
several classes of the funded debt Of the
county, the rate ofinterest accruing thereon, the
payments made on account of the same, and the
amount due and unpaid thereon.
Sec. 5. 1t shall be the duty of the treasurer
at his stated settlements, 10 produce and exhibit
to the county commissioners and auditor, all
obligations for principal, debt and interest war;
rants, by him redeemed pursuantto to the require
ments of this act, and all receipts for interest
paid in cases in which there are no separate
warrants, and after the same shall be compared
with his accounts corrected SO as to correspond
with the vouchers so produced, said obligations
for principal and interest warrants, shall be
cancelled In such manner as TO prevent their be-
ing used or put into circulation, and with the
vouchers for interest paid other than upon war
rants, shall be filed and preserved in the office
of the county auditor, and the county commits
sioners shall have the power at any time to re-
quire the treasurer to surrender for cancellation
rs aforesaid, the obligations and warrants BY
him redeemed, subject to his right to be credit
ed herewith, according to right and justice;
and the treasurer shall have the right at any
time, on reasonable notice, to require the county
commissioners and auditor 10 receive said obli-
cations and warrants for cancellation.
Sec. 6. County treasnrers shall be allowed
for receiving and disbursiRg all moneys coming
into their hands, on account of the creation of
funded debtlof any county, one half of one per
cent on all such sums and no more, and for the
collection and Disbursement Of all moneys raised
by taxes for the payment of the principal and
interest, or either, Of the funded debt of any
county, they shall be allowed oae-half of one
per cent, and no more, on all such sums SO coll
1ected and disbursed, together. with all nccessa-
~ and proper exchange, to be paid out of the
funds to which this act relates. to be settled
and allowed to them by the county commission
ers and auditor. -
Sec. 6. This shall take effect and be in
force from and after the date of its passage.
WILLIAM B. WOODS,
Speaker of House of Representatives.
MARTIN WEbKER, n
President Of the Senate.
Fehrnarv 22 IS5a -.