The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1860-06-29
VOLUME ,X1. NO. 20.
LAWS OF OHIO.
{ (Puuished by AHthority.)

nOs HUI hN AOI
To provide for tho final payment and re,
demption of the Public Funded Debt of
the State OF Ohio.
Section I. Be NJ enacted BY The General
s7ssembiy Of the State Of OHIO, That the
commissioners Of the sinking fund, ior tho
time being, be and they are hereby author- |
ized. 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 ex-
pressed upon tho face of the certificates
thereof to make and issue In due form
pgreeaoly TO the laws Of the state in such
casos made aud provided, certificates OF the
funded debt of the state of such numbers
aud amount as shall be sufficient, from the
proceeds thereof, to redeem go 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 sink |
ing fund established and fix1d by the con-
stitutiou OF tho state and raised by law. |
And such certificate shall be mado redeem
able and payable at such timo und times,
after being issued. as in the judgment OF
the said commissioners may DO most con.
venient and advantageous for tho final re-
dempIion and payment of tho Same by the
appropriation to that purpose of tho sinking
fund. established and raised as aforesaid.
Tho time and place of tho final redemption
and payment of tho principal and of the
payment of tho interest thereon by the
state, and tho rate of interest. shall be clear.
ly expressed on tho face OF each certificate
but no certificate shall he issued or made
payable after tho first day of January, oigh.
teen hundred aud ninety-one, except at tho
pleasure of the state; and the faith OF tho
state is hereby irrevocably pledged that the
valuo of tho certificates OF tho funded debt
herein authorized to be issued shall in no
wiso be impaired or diminished by any act
Of the legislature, OF other authorities Of
This state.
Sec g. All or any portion of such cor
tiRcates of tho funded debt Of this state, as
horoin authorized and descrbnd may bo
made and issued as q domestic debt, the
principal and interest thereof to be payable
at the treasury of the state at tho seat OF
the state government, or as foreign debt,
the principal and the interest of which shall
be payable at the Office of the agency of the
state in the city of New York, aud at no
other place or places whatever; and the
certificates so issued as a domestic deb,
shall bc Issued aud made transferable on
the books of said commissioners at their
ofiico at tho scat of government and the
certificates issued as a foreign dob hall be
transferable on books of tho commissioners
in the manner prescribed by law.
Sec. S. The interest on all such certif
Gates as may bo issued az a domestic debt
as aforesaid, shall be mado payable ssmi
annually, on the first day of February anC
on the first day of August, in each year
atIer tue issuing thereot uhtll tue llhai re
oempt'on anu payment OF the prihc'Pa'
and the interest on all such certificates a
shall be issued as a foreign debt shall b.
made payaoIo semi annua'ly: on tne mrs
Gay OF January ana tho hrbt DAY OF July, u
eacn year, atter mo ISSUING OF the same uh',
tne nnsi redemption OF tpe princlpai 'herooi
Gee T. "horeVor IL sha'i Decou,e nec
6ssary 10 issuo coruhca'es OF the tuhue'
aeot OF tho state. as authnrzHd aud dlrecto'
IN tne hrst soct'oh oi this act the same shni
90 offered oy tho commissioners oi tho e'nk
ing tord Tor sale III tho city OF New iork
ana Tor that purpose the SAID commissioner
snail advertise Tor bids or proposals Tor tn
taxing OF tho sums, 10 at ioast Two new
papers OF general circulation puOllshed
tne CITY OF new YORK, Tor a form Oh at teas
sA'y Gays next preceding tno oay ior 10
ciosing the reception OF o'us or proposal
Tor taxing the same. and such cortihcate
enaii oe issueu 10 the party ana parties "h
enaii agfeo 10 tsNe the sum, or any pa'
tnereo!, at tho h'ghest rate OF premium, an
NJ rate o. interest not ehceeo'"g eh pc
centun per ahnum, or q. par ~ 'ne 'o"e'
rate OF interest," uhdcr Six per cehtum p'
ahnum' us tho sa'd commissioners tna
l9dge 10 DC oest ior the Interestot the stat
NO portion OF SAID certhcates snail DO so'
or disposed ot at a ratio or price less ina
tne amount Expressed on the TACO thereo
nor shall any commissioners expenses
charges be allowed on the sale ana conve
sion tnereoi INTO money, 80 as 10 redu'
tho net amount realized therefor below u
amount expressed on tho faco OF tho &C
t'ncate or certlllcates so issued ! ana
certlncate snail DO issued bearing rate
interest exceeding SIX per centum per ai
num- In all cases whon there ehah
moro than one bld or proposal 10 take =
or any portion OF the cerl'hcates so 10
hsueo as AFORESAID, at rate equal 10 ea'
otner, ana most TO the interest OF inc star
said commissioners shail apporVon u
amount equally ana faIriy among inc pa
ties making such bids or proposals; al
me commissioners may aaopt suen o'n
regulations IN relation TO tho form ana
ception OF bids or proposals as thoy m
deem advantageous to the state rroVid'
however. that whenever certihcates OF I
funded debt OF the state, to be passed