Holmes County farmer. [volume] (Millersburg, Ohio) 1857-1926, 1860-05-10
NEW SERIES-VOL. 22-NO. 70.


b oaliy pledged that The value of the certificates
d the Iuuded debt herein authorized to be IL.
sued shall ~ no wise be- impaired or diminished
by any act Of the Legislature, or other authori.
4 ties ui this stale.
Sec. = All or any portion Of suoi certificates
Oi The iunded debt Of this state a, herein au /.
thurzed aud described. may be made and issu.
90 az domestic debt, the urinrit nj and inter-
e't thereof to be payable at the treasury of the
stare az 'hc scat oi the state government, or ns
a ioregn debt, the principal aud interest of
which shall be payable at the office Of the agen
cy oi the state IN the city Of New York, and at
no other place or places whatever: and the GER
/ tihcajes - Issued ~ domestic debt shall be
issued and made transferable on the books Of
SAID commissioners at their office at the seat of
government, and the certificates issued as n for =
( plgu debt shall be transferable on the books
OF the commissioners Ia the manner prescribed
by law,
See. 3. The interest on all such certificates
as may be issued domestic debt, as afore-
sad, sbaIl be made payable semi -annually-on
tbe hrst day Of February and On the frst day OF
August. in each year, fer the issuing thereof
until The final redemption and payment of the
] principal; and the interest On ali sueh certih-
/ Gates ~ shall be issued as foreign debt shall
I De made payable semi-annUalIy y--on the first
day ot January and the first day Of July, in
each year, "iier the issuing of the same until
lhe maj redemption OF the principal thereof
/ Sec. q. Whenever 1t shall secome necessary
/ 10 Issue certificates Of the funded debt of the
state, - authoIlzcd and directed in the rst sec.
ilYH oi tins act, the same shall be offered by the
commissioners Of the sinking fund for sale in
lhe CITY oi New York; and tor that purpose the
sai9 commissioners suall advertise for bids or
proposal" Tor Tie taking Ui the same, in at least
. Two newspapers ot general circulation publish
/ ed In the city Of New York, tor term of at
least sixty days next preceding the day for the
closing the reception OF bids or proposals for
taE!ng the same, and such certificates shall be is
sued 10 the parry and parties who shall agree to
T 70 lake the sum. VI any part thereof as the
/ highest rate OF premium and at rate of inter.
| est not exceeding Fix per centurn per annum, or
/ al par, NJ the lowest rate Of interest under six
/ per ceuium per annuyl, Us the said commission
ers shall Judge to be best Tor the interest of the
state. No portion of said certificates shall be
sold or disposed uf at rate Ur price less than
the amount expressed on the face thereof nor
| suaI any commissions, expenses or charges be
allowed on The sale and conversion thereof into
money, 50 rs 10 reduce the nett amount realized
therefor below the amount expressed Oh the face
VI tie certificate or certificates 50 issued and no
etruhcaie shall be issued bearing rate of in
terest exceeding six per eeRtuin per annum. In
all eases where there shall be more than one bid
or proposal to take all or any portion Of the
tIAcalts 80 10 De Issued as aforesaid, at a rate
equal 10 each other, and most TO the interest of
the stale said commissioners shall apportion the
amount equally and fairly among the parties
making 81; IN bIds or proposals. and the commits
s!ohrrs may adopt sueh other regulations IN re-
lauon to the form and reception Of bids or pro-
posals a. they may deem advantageous to the
state. Provided, however, that whenever GER
tiIcates OI the funded debt of the state, to he
Issued as authorized by the first action of this
eF aud li.b uh,Il r
exceeding five per centum per annum can be
sold at price equal to or greater than the par
value thereof, or exchange for hn equivalent
amount al Its par value. OF the then outstanding
iUIdrG debt oi the state, the commissioners Of
the sinking fund are hereby authorized and per-
nsi't-d - ia eel or 4-alAr-, ---~A -,-4i--.v,
any par thereof. without advertising for bids
or proposals for the same, and at any place or
places where such sale or exchange can be ei-
ecied.
Ses- 5. The nett proceeds Of the sale of the
certificates OF the funded debt Of the stale ls-
sued under the authority Ofsihis act, shall be
applied TO the redemption and pay yment of the
principal of the funded debt ol the state now
existing, and TO 10 other purpose whatever; pro-
vided, however, and it is hereby expressly de-
clared. that this act shall not apply TO or in
Glade IN its provisions the temporary debt Of
seven hundred tLousaud dollars created to re-
lmSurse the treasury, and authorized by the act
of April u, lS56, the payment of which is
provided for by special tax levied by that
act.
Sec. s. Any holder of any portion of the for
elgn debt OF the state may at any time surren-
der The same TO the commissioners OF the sink
ing fund, receive in lieu thereof certificate or
certificates of au equal amount of the domestic
debt authorized by this act and said commis-
7ioners shall make the necessary transfers, reg
isries, entries and cancellations in their books,
pom the surrender OF any of the now outstand-
ing certificates OF the domestic debt of the state
The commissioners Of the sinking fund may is
sue in lieu thereof transferable certificates az
authorized by this act, the principal and inter-
est of which shall be payable at the state treas
ury. and at the Time and times specified IN the
certificates so surrendered: the certificates sur
rendered shall he Immediately cancelled and
The proper entries thereof made in the books of
the commissioners.
Sec. 7. The commissioner of The sinking
fund shall keep accurate accounts and registries
OF tie issue and transfers, payment OF the inter-
st and Of the final redemption and payment of
the principal OF said certificates. SAID coin.
msslonegs are Lereby required 10 report 10 the
governor al the time Of making their semi-an.
nual reports and at such other times as the gov.
ernor may require, and TO the general assembly
or either branch thereof when 50 required by
resolution, All their acts and proceedings done
y
ernor shall communicate the reports made 10
bin 70 the general assembly if in session, and
II not IN session, then at the commencement OF
he next session thereafter; and if such report
be made more than two months before the meet.
ing of the general assembly, the governor shall
cause such report to be published in al least two
newspapers ot general circulation published in
each Ct the cities OF Cincinnati, Columbus aad
Cleveland.
See. :, The act TO provide for the renewal
and Ia regulate the final payment of the funded
debt OF tbs state, passed April 2 1859, is here
by repealed
Sec 9 This net shall take effect and be in
force Oh and after lis passage.
RICHARD PARSONS,
Speaker Of the House of Representatives,
ROBERT c. KIRK,
President Of the Senate.
Passed March 20, 1850.
No. 60. AN ACT
Supplementary 10 the Act entitled "an Act
TO oprovide tor the Organization of Cities
and Incorporated Villages" passed March
II, 1858.
SEcTios !. BE 1t enacted Jy the Gen.
erai Assea'Jiy Of tie State of Ohio, That
iorihe purpose oi purchasing land Tor ceme-
terry, the council oi any municipal CORPORATION
under the net to which this act is
supplementary shall have power to levy, in ad-
dlu"n TO the lakes otherwise authorized by law
to oe levied, upon the taxable property oi such
corporation, AK not exceeding one-
hall ui one mil Oh The dollar. each year during
II term OF not exceeding SIX Years, which tax