The gazette and Democrat. (Lancaster, Ohio) 1860-1860, 1860-04-26

#.r.t " AIN Az L "Ilt.|.a.. d
To provide for the final payment and re-
demption of the Public Funded Debt of
the State Of Ohio. .s-.4a s5.e s..rt.
SEC. l.. Best enacted by the General As-
senlbly Of the State of Ohio. That the COM
missioners Of the sinking fund, for the time
being, be and they are hereby authorized,
empowered and required, ,at periods previous
to and near the time at which any portion of
the funded debt of this state shall become
payable according to the terms expressed
upon the face Of the certificates thereof, to
make and issue in due form agreeably to the
| laws Of the state in such cases made and
provided, certificates of the funded debt of
the state Of such numbers and amount as
shall be sufficient, from the proceeds there-
Of to redeem so much Of said debt then about
to become payable as shall not have been
paid or fully provided for, by the application.
thereto Of the sinking fund established and
fixed by the constitution of the state and
raised by law. And such certificates shall
be made rcdeemable and payable at such
| time and times, after being issued, as in the
Judgment of the said commissioners may be
most convenient and advantageous for the
final redemption and payment Of the same
by the appropriation to that purpose of,the
sinking fund, established and raised as afore-
said. The time and place of the final re-
demption and payment Of the principal
and the payment ofthe interest thereon
by the state, and the, rate Of interest.
shall be clearly expressed on the face Of each
certificate; but no certificate shall be issued
or made payable after the first day of Janu-
ary, eighteen hundred and ninety two, ex-
cept at the pleasure of the state; and tho
faith Of the state is hereby irrevocably pledg-
ed that the value Of the certificates Of the
funded debt herein authorized to be issued
shall in no wise be impaired or diminished
by any act Of the Legislature, or other author
tiles Of this State, a..rrI ola )e tspl. q
SEC. Q. Allor any portion ofsuch certi6-
Gates of the funded debt 0fR this state, as
herein authorized and described, may be
made and issued as domestic debt, the prin-
cipal!and interest thereofto be payable at tho
treasury Of the state at tho seat OF the state
government, or as q foreign debt, the princi.
4 pal and interest ofwhich shall be payable at
d the Office oftbe agency Of the state lin the
Y IClty OiNeW lOEkI anu Nv no Othet pihce VI
places whatever; and the certificates so is
! sued asa domestic debt shall be issued and
VI made transferable on the books ofsaid com
missioners at their ofliceat the seat of gov
3 ernment; an othe certificates issued as .
foreign debt shall be transferable on the books
ofthe commissioners in the manner pre-
] scribed bylaw. lsiiau iaqt1Hd IpYse 81
0 ,SEo. 8. The interest on all such certifi'
2 Gates as may be issued as domestic debt
Q as aforesaid, shall DO made payable semi-an
!. nually on the first dayo February and OF
o the first day of ofAugustsain ecch year, aftel
Q the issuing thereof until the FINAL redemption
Q and payment Of the principal; and the inter
9 est on oil such certificates as shall DO ISSUED
n as foreign debt shall be made payable semi
Q annually--on the first day Of january ant
the first day ofJuly, in each year, after th'
issuing Of the same until the final redemp
ton Of the principal thereof. % se y ,-
Sec. 4. Whenever it shall become neces
sary to issue certificates Of the funded deb
Of tho state, as authorized and directed il