Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-05-27
$I3,S97,242 20

Shall be, and hereby Is made guide and direction
obligatory upon the commissioners Of the sinking fund
tor the time being, in the discharge Of their official
duties.
Sec 8. All or any portion of such certificates Of
the funded debt Of the state to bs renewed here
described, may be made audissued with the princi-
pal and interest payable at the treasury Of the state
AZ the seat Of government or at the agency Of the
state in the city Of New York. and at other place
whatever. And all certificates OF the funded debt
issued as domestic debt, the principal and interest
Of which Is made payable at the treasury Of the state,
hall be issued payable TO the party parties taking
The same, his, her, or their order, the may
be.
sec. 4. The iuterest on all the certificates of the
funded debt of the state, to be issued domestic
ebt to renew any portion of the funded debt Of the
state coming payable aforesaid, shall be made paya-
semi annually (every six mOntns), the first day
of February ando the rt day Of August in each year
rom the time Of their being Issued And the interest
on all the certificates OF the funded debt Of the state
to be Issued foreign debt, to any pOT-
ton of the funded debt Of the state coming
payable as Aforesaid shall be made payable semi
| annually, teyery six months, on the ii st day Of
| January aud ON the first duy Of July ia each year,
from the time Of their being issued And certid-
cate of said funded debt issued a foreign debt
the principal and interest of which shall be pay
able in the city of New York shall be issued Of leAs
/ denomination or amount than thousand dollars,
| nor for any fractional part of one thousand dollars
above that sum- but certificates of the funded debt
renewed, the principal and interest Of which is made
payable at the treasury of the state at the seat OF
government OF the state, domestic dobt may be
issued in amounts Of one hundred dollars, or Of five
hundred dollars, or one thousand dollars may be
preferred BY The party parties taking the same and
also for any fractional part Of the sinking fund ofany
year And there may be attached TO all such ceruh-
cate issued as domestic debt, interest coupon,
debenures, for every six month, interest coming due
and payable, from the time OF issuing Of such curtih
| cate to the period Of the final redemption and pay
ment of the same; which interest, coupons dehen-
lures may be taken by the county teasurers in lieu
Of money 10 payment Of taxes due the state that
10 say The interest, coupons or debeutures coming
due the first day Of February in any year may be
taken for taxes due the preceding 10Th Of December
and interest, coupons, or debentures coming due
the first day Of August In any year may be taken for
taxes due the preceding 10th Of June and may be
ceiyed from them by the treasurer OF state IN lieu OF
money, aud paid over on the warrant Of the auditor
of state drawn on the requisitOn # the commits
,oners of the sinking fund.- according 10 the require
ments Of law for the payment Of the interest the
funded debt OF the state; but such coupon de-
benture shall be taken by any county treasurer or
received Of any county treasurer by the treasurer
Of state, orby the commissioners of the sinking
fund, for greater sum or amount than the simple in-
lefeat expressed therein aud all such coupons de-
Denures paid by the state shall be cancelled, class
fed, arranged and carefully recorded, and preserved
IN book books TO be kept for that purpose by the
said commissioners Of thV sinking iund Ia Their Of
ice the Of government; ia lieu Of the dupli-
cate pay rolls as required in regard 10 the payment
The annual interest the foreign funded debt
Of the state. And IL also shall be part of the oii-
cia duties of the said commissioners to make such
guisiuon Aforesaid and IL shell be part of The of
ci duties ut the audi of state to draw such
rant the treasurer of state for the paying over
toresaid of all such coupons or debenture IA often as
once each week and Oftener II deemed essential Ia
the interests of the state by either the auditor OF
,ate or the sid oommisaioneTs lin which any of the
into the state troasury aforesaid And the treas
urer state shall also make out and register Ia bis
Office, complete schedules oial such coupons or de
bsntdres so received by hm from county troasurers
| and paid over TO the commissioners of the sinking
flnd the wanant of the auditor Of state, dlawn
aforesaid, and also shall furnish copies OF ali sucl
schedules To the comptroller Of the treasury at tn
\ close of business each day, In which any such
pous debsntures shall be so paid over by him
See. 8. Il Is hereby made the special duty Of th
| commissions of the sinking fund 20 advertise fo
loposals bids for the taking Of all or any portion
a.. IaHN inf fNau uuN.t tn la
herein provided, domestic debt az hero describe
Tor the term Ofat least six months next preceding h
time set for the closing Of such bids prog0 ais fo
the taking OF such domestic debt 10 at least
, paper OF general circulation, puhlihed in each count
this state. And whatever portion Of the said debt 81
10 be renewed at such time as shall remain withou
being taken such domestic debt on the teHns,h
10 specified, after ,he expiration Of the said term o
six months In which the MAJ bo taken such do
nsa is debt as aforesaid shall be offered by the sa
BOARD Of the sinking nd for the sal
the city OF New York as foreign debt and for tina
purpose the said commissioners shall advertise Tor pro
osa or bids for the sane 10 az Least TWO newspaper
ofgsneral circulation, published Ia the city Of New
York far term OF at least sixty days next pro etd u
the day rot for the closing fhe bids proposals 10
ne taking Of the same And all certificates Of such no
neWed funded debt that may be Issued = such domes
tie debt herein described, shall be Issued by the sal
commissioners OF the sinking fund 20 the parry or par
ties who shall take the same as such domestic debt
Aforesaid, at the lowest rate OF interest exceed
. Ing six per centum per annum, aRd at par that BE-
Jog the iull amount as expressed upon the face OF "a
certificates thereof Aud tor all such part or portio
ofths funded debt Of the state 30 70 be renewed tim
shall not bo taken domestic debt as aforesaid
within the term Of six months aforesaid the SAL
| commissioners Of the sinking fund shall issue tn
certificates thereof TO such party or parties who sha
Y | agree 10 take the with tue principal and IN
interest thereon payable 10 tho city OF New Yotl
AS foreign debt as herein specified, at the hights
rate Of premium for such gHll bear tnterest th
rate Of six pet centum per- anhum or at the lowe,
y rate Of interest under six per centum Per annum
4 par the said commissioners may Judge TO be mos
or the interest Of the atate provided that bid
Il Or offers 20 take either as domestic or furcig
e debt containing fractional parts Of per ceutdi
- other than one quarter over half or three quarter
shall be received, and In shall there be an
certificate Of the funded debt of this aate Issued
redeem any portion Of the funded debt OF this stat
coming payable that shall bear niger rate OF interti
than six per cent per aunum shall any such eefif
Gates bearing interest At the Of ak per cent per
NUN be issued, sold eXehanged or dspoaed o. In an
way whatever, by the said commissioners at a pnc
less than par Nor shall thore be any oOmmiss0us 81
pensea or charges alloved the sale and oonEersio
thereof into money that shall reduce the net amour
brought into the state treasury below The amount ex
pressed upon the face Of the certificate 80 issued
Sec. Q. That IN all cases where there shall be NOR
than bid, or proposal 20 take any portion Of th
funded debt Of the state 80 10 be renewed either %
n domestic debt Or foreign debt herein described
rate equal 10 each other and most to the iniess
Of the state the commissioners Of the sinking fund sa
% apporton the amount equally and airly between t
n parties making such bids proposals. provided, TIA
tidt for the smallest amounts Of tho domestic dfb
shall be preferred to bids for larger amounts qt p