New Oregon plaindealer. (New Oregon, Iowa) 1859-1866, 1861-06-28

years from the date thereof, and for the pay
ment Of interest semi annually on the first
DAYS of January and Jelly of each year, at the
rate of seven per cent per annum, both
principal and interest on all bonds over 500
to be made payable at the Metropolitan Bank
in the City of New York. But the Governor
may cause such payments to be made at any
other place in the said City, by giving thir-
ty days public notice of such place in three
newspapers in the said city.
Sec. >. The Governor, Auditor and Sec
rotary of State are hereby authorized and re
quired to issue the said bonds to an amount
not exceeding the sum named in the prece-
ding section, from time to time as the wants
and necessities of the State for the purposes
contemplated in the Act, may require, to be
determined by the Board Of Commissioners
provided for in section 5 Of this act Said
bonds shall stipulate for reimbursement of
the principal and the payment of the interest
in the manner directed by the preceding
section. If deemed by the Governor, Audi
tor of State and Secretary Of State advisable
they may as nearly as practicable. issue the
one fourth in the sum of 800 90 each, and
another fourth in the sum Of $500 90 each,
and the r:mainder in the sum of 81 900 90
each; but this direction does not prohibit
said officers from issuing all or any part
of said bonds in the sums Of ST 600 90 and
$500 90 each, 800 bonds cannot be sold
Both principal and interest on the 500 90
bonds, if any are issued, shall be made pay
able at the Treasury Of this State.
The Governor shall cause the said bonds
with interest coupons to be Autographed and
the bonds shall refer to this act by it's title
and the date of its approval, as the authori
ty under which they are issued, and said
bonds shall be signed by the Governor. coun
tersigned by the Auditor and Treasurer, and
attested by the Great Seal Of the State Of
Iowa, but the Seal of the State may be omit
ted from the coupons, which coupons shall
be signed by the Auditor of State, the nee
essary expense of which shah be paid out
of the War and Defense Fund. No bonds
shall be signed and perfected prior TO the
time they are actually needed for negotiation
ana then in such amounts only as may be
requisite for the time being, and said bonpS
shall not be siyned and perfected until the
agents herein appointed are ready to receive
them IN person for sale and negotiation as
provided in this act.
Sec. 8. No money arising from the sale Of
the said bonds, or any part thereof, shall be
used or applied in any manner, or for any
purposes except the purpose of purchasing
arms and munitions CT war for the Use Of the
State, for defraying and paying the expenses
already incurred, or which may hereafter be
incurred in calling out troops, or organizing
unifor.ning, equippins, subsi>tny and pay
ing the militia of the State when called out
under the laws CT this State or those Of the
United States, or such other purposes as are
or may become necessary or incident to the
repeling of an invasion or the defense of the
State in war, and except Tor the necessary
expense of procuring LithOgraph plates for
bonds and the issuing and execu-
ton of SAID bonds as provided for in
section of this Act, and except for actual
and necessary expenses, and compensation
of agents herein appointed for sale and nego-
tiation of said bonds, as provided in section 0
in this act. But for the protection OF Bona
fide holders of said bonds, it is hereby
declared not to be obligatory on them to
look after, or see 70 the appropriation of the
money raised by the srle of the bonds, and
any rregularity In the issuing of said bonds
shall not impair their validity in the hands
Of bonaide holders.
Sec. 4. The State doth hereby irrevoca
bly, pledge its faith to provide means to pay
the interest On the said bonds as the same
may become due, and the principal at the ex
piration of twenty years, and for this pur
pose, all or so much as necessary of the rev.
apuo o,i. from : q optira fov,b1o rrora,.