Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-03
SALE or STATE R0NbS.

Under THE PROVISIONS OF AN ACT
~ passed 1t the Extra Session Of the Eighth
General Assembly Vt the state Of Iowa, entitle
IAN Act 70 provide for the issue and sale Of
State Bonds TO procure loan Of money tor the
State Of lows, . enable it to rspel invasion and
defend itself In War;" approved May 28th, 1861.
the issue aai sale Of the Bonds Of the State is
authorised 10 An amount not exceeding the sum
Of Eight Hundred Thousand Dollars. The Bonds
are 70 be issusd and sold firm time to time q in
the judgment Of the Board Of Commissioners
created BY said Act, the majority of said Board.
the wants and necessities Of the State may re-
quire.
The Board ct their meeting held 1t the Can't
tai on the l3sh Of June, 1851, have ordered the
issue and sale Of Bonds TO the amount Of Four
Hundred Thousand Dollars. The Bonds thereby
authorised and for sale are in the sums Of $780,
90, $59O.0c and 100000 each, At the option Of
the purchaser; signed BY the Governor. counter
signed BY the Auditor and Treasurer, and attest
ed by the Great Seal Of the STATE OF Iowa, with
interest coupons attached, signed by the Auditor.
but mot sttss.ed by the Great Seal Of the State
And provide for the payment Of tho principal 1t
the expiration of twenty years from the date
annually on the first days Of January and July Of
each year, 1t the rate Of Seven per cent. per an
mum. Both principal and interest on ali Bonds
over one hundred dollars are made payable 1t the
Metropolitan Bank, in the City Of New York !;
but the Governor may cause such payment to be
~
days notice Of sush place in three newspapers in
said city.
Both the principal and interest Of al 1905 90
bonds are made payable At the Treasury Of this
State. None Of the $4,000 bonds will DO sold
out Of the State.
The State has irrevocably pledged its faith to
provide adequate means to pay the interest said
tonds as the same becomes due, and tho principal
at the expiration Of twenty years. And for this
purpose all, or 20 m sch ~ il necessary sf the
.s~s- e.
Of the State, mas been and is et apart and pledg-
ep for these purposes and it is made by law the
duty OF the Census Board or other proper officer
or officers which duty the law provides may, if
nscesaary. b. enforced BY nandsmus) 10 levy
tax in each year sufficient for these purposes AZ
ter pa ment Of all expenses of collection-
No tax, It is provided by law, shall ever b.
levied by the State Of Iowa on the stock created
by said Act, nor the interest payable thereon !;
and the value of the stock shall, in no wise, be
impaired BY the authority Of the State, bat it il
expressly provided by said Act that nothing there
in contained shall 30 30 considered Is TO exempt
from TAXATION any part Of the capital stock of the
Branches Of the State Bank Of Iowa.
have in writing directed the undersigned, the
agents appointed By said Act, to negotiate said
oau and 70 sell and transfer said Bonds to sell said
Bonds or any part thereof II private sale, in this
State, 1t their nominal par value, until the 18th
day q July, a. y, 1881 at which time all OF
this Stale. nay bs sold in the City Of New York,
in the manner specified in said Act. No $1,000
Bonds will b sold in the City Of New York bat
the Bonds there sold will be in the sum Of $4,000
or $4,000 each, q the option Of the purchaser, to
be specified in his proposal.
The terms Of the sole Of said Bonds are specie
payable in hand on the delivery Of the Bonds
sold 70 the purchaser or purchasers.
Matured Coupons on I'll Bonds of tho denomn-
alton Of one hundred dollars, are by the provis-
ions OF said ACT receivable in payment Of AL State
taxes.
The sale of said Bonds, which il to take place
in New York City, with directions for proT osals
therefor, 10 advertised in the Daily New York
Tribune, the New York Daily Times and Laily
New York 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 on the terms Aforesaid, 1t
their nominal par value, at the Office Of the Treas
urer II state, & the Capital, 1t Desmoines until
ana on the sth day Of July, A. D., lo6l, after
which day the undersigned will proceed to New
ork City to attend to receiving proposals there
until the 18th day Of July, 1851. 4 noon, and
opening said proposals on July 18th, 1851 It noon.
DssHolNDs, June IL, 1851.
JOHN W. JONES, State Treasurer,
. AATURIN L. FISHER,
Loan Agent.