Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-03
SALE OF STATE BOMBS.

n tue PROVISIONS OF AN ACT
Co. .Sseu al the Extra Session Of the EIGHTH
uene.ai Assembly Of the state Of lows. .nt,,is..
an Act y provide for the issue ADD ALE -
gate bonds to procure loan of money ior III ,
state Of Iowa, to enable it to repel inyss;on ana
ueIena Itself IN War;" approved May 2Sth, 1861
'ne issue AM sale Of the Bonds Of tho State il
ausno,iAsG 20 "a amount not exceeding tho sum
Ilgnt hundred thousand Dollars. The Bonds
aIc " DC issued and sold frvm time t. time as in
.ne judgment Ct the Board Of Commissioners
created ~ said Act, the majority Of said hoard
the wants and necessities of the State nav -
quire.
Inc Board at their meeting held 1t the CAM
.ai on the 18th Of June, 1851, have ordered the
issue ana sale Of Bonds to the amount Of Four
hundred Thousand Dollars The Bonds thereby
authorized AMI for sale arc in the sums of 500
10, $500 DC and Sloo0 90 each, At the option Of
the purchaser; signed by the Governor, counter
signed by the Auditor ami Treasurer, and attest.
ed by the Great Seal OF tho State Of Iowa. with
interest coupons attached, signed by the Auditor
put not attes.ed by the Great Seal of the State
And provide for the payment OF the principai At
the expiration of twenty years from the date
thereof, and for the payment of the interest semi.
annually on the first days Of January and July Of
eacn year, at the rate of Seven per cent. per an
mum. Both principal and interest on ali Bonds
over one hundred dollars are made payable ut the
Metropolitan bank, in the City Of Now York
made at any other place in said city by giving 80
days notice OF such place in three ne wspapcrs in
| said city
Both the principal and interest Of all SlOO. 90
bonds are made payable at the Treasury Of this
state. None OF the Slo0.00 bonds will be sold
out Of the State.
The state has irrevocably pledged its faith to
provide adequate means TO pay the interest on said
Ionds as the same becomes due, and the principal
=. me expiration 81 twenty years. And for this
purpose aii' or 50 mach as II necessary sf the
revenue arising from the entire taxable nronertv
Of the State, mas been and is ct apart and picdx
ep for these purposes and it is made by law the
| duty OF tie Census Board other proper officer
| or officers which duty the law provides may. il
| necessary, be enforced by mandamus) to levy q
tax in each year sufficient for these purposes af-
repayment Of all expenses of collection.
No tax, it is provided by law, shall ever be
| levied by the State of Iowa on the stock created
by said Act, nor on the interest payable thereon
| and the value Of the stock shall, in no wise be
impaired by the authority OF the State, but it is
expressly provided by said Act that nothing there
| IN contained shall be 50 considered as to exempt
from taxation any part of the capital stock of the
BrancAe OF the State BANK Of Iowa.
The Board ot COMM sloaers crelted by said Ac!
have in writing directed the undersigned. tn,
agents appointed by said Act, to negotiate said
lean and to sell and transfer said Bonds to sell sac
Bonds any part thereof al private sale, in this
State, at their nominal par value, until the 18th
day Of July, A. d., ISL 4; at which time all O.
said Bonds which remain unsold at private sale ii
| this State, may be sold in the City Of New York
in the manner specified in sald Act. No 500. ~
Bonds will be sold in the City Of New York b.,
the Bonds there sold will be in the sum OF $500 O(
or $4,000 each, at the option Of the purchaser I.
be specified in his proposal.
The terms Of the sale OF said Bonds are specie
payable in hand on the delivery Of the Bonds 81
| sold to the purchaser purchasers.
Matured Coupons all Bonds Of the denomin-
alton Of one hundred dollars, are by tho provis.
ions Of said Act receivable in payment Of ali State
taxes.
The sale of said Bonds, which is to take place
| in New York City, With directions for prog osals
| therefor, is advertised in the Daily New York
| Tribune, the New York Daily Times and Daily
New FORK Journal of Commerce, and in the Daily
Boston Atlas and Daily Boston Post, and in the
Daily Chicago Tribune.
Any person wishing to invest in said Iowa
State Stock" can do SO the terms Aforesaid, q
their nominal par value, at the Office of the Treas
urer Of State, at the Capital, at Desmoines, until
and on the sth day of July, A. D., 1861, after
which day the undersigned will proceed 10 New
ork City to attend to receiving proposals there
until the 18th day Of July, 1861. as noon, and
opening said proposals on July 18th, 1861, atnoon
DssNoINxs, June IL, 1861.
JOHN w. JONES, State Treasurer.
NATUkIN L. FISHER,
Loan ARant