Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-09

SALE OF STATE BOMBS,

~ passed 1t the Ex,ra Session Of the Eighth
General Assembly Of the State Of Iowa, sati ,lsa
An Act 70 provide fos the sss.o and sale Of
State bonds 70 procure > loan Of money Tor the
State Of lowe, N ensbls IL 70 rspel invasion and
dsfend itself n War;" approved May 2Sth, 1851
the Issue sad sale Of the Bonds Of che State il
authorised 10 ~ amount not exceeding the sum
Of Eight Handled ihoassad Dollars. The Bond.
are " Be issued and sold finn time 70 time. ~ in
the judgment Of the Board Of Commissioners
created BY said Act, or the majority of ssid Board
the wsan and necessities Of the State may 70.
quire.
The Board 1t their meeting hold At the Capt.
tai on the 18th Of June, 1851, have ordered the
issue and sale Of bonds TO the amount Of -Four
Hundred Thousand Dollars. The Bonds thereby
authorized Ant for sale ere in the sums of 800.
90, $500 ~ and $1,000. 90 each, Ct the option Of
the purchaser signsd BY the Governor, counter
Cd BY the Great Seal Of the S.ats Of Iowa, with
interest Coupons attached, signed BY the Auditor
but not sttes.sd By the Great Seal Of the State
And provide for the payment Of the principal At
tne expiration q twenty years from tho date
annually on tho first days Of January and July Of
each year, 1T the rate Of Seven per cent. Der an
mum. Both principal and interest on ali Bonds
over one hundred dollars are made pa, able at the
AetroPolitsn Bank, in the City If New York ;
oa. tne governor may cause such payment to be
made II any other place in said city by giving 80
DAYS notice Of such place in three newspapers in
said city.
Both tho principal and interest Of all 500 90
bonds are made payable 1T tho Treasury of this
STATE. Nose Of the $1,000 bonds will be sold
out Of the State.
The St.te has irrevocably pledged its faith to
PROVIDE adequate means to pay the interest on said
fonds rs the same becomes DUE and the d. incipal
- the expiration Of twenty years. And for this
P.'P'sc sI' VI 80 IN !cn rs 10 necessary If the
revenue arising f.om the entire taxable pronertv
o. the State, has been and is ct apart and pied.
ep Tor these purposes and is il made bv Inv The
duty OF the Census Board or other proner Officer
OF oifeers which duty the law provinces NAV. II
n0oessasy, % enforced by msndamus) to levy a
~ IN oach year sufficient for these purposes af-
Yer psyment Of all expenses Of collection.
No tax, 1t Is provided by law, shall ever b.
levied by tho St-s. oS A~-~. IA. s.U.M .,ua.o,
by said Act, nor on the interest payable thereon ,
aud the value Of the stock shall, in no wise, be
impaired by the authority Of the State, but it j.
expressly provided by said Act that nothing there
In contained shall DO 50 considered Us to exomp,
from taxation any part OF the capital stock Of the
Branches Of tho State Bank OF Iowa.
The Board Of Conmis si0ners Gre Ited by said Act
have in writing directed the Undersigned. the
agents appointed by said Act, to negotiate said
loan and " sell and transfer said Bonds to sell ga
Bonds or any part thereof ~ private sale, in this
State, at their nominal par value, until the 18th
oay VI July, A. ~, 10 j Mt which time all 0
said Bonds which remain unsold ut private sale 4,
this state. may be sold in the City of New York,
In the manner specified in said Act No 500. 10
Bonds will 30 sold ia the City of New York but
the bonds there sold will be- in the sum OF $500. 90
or $4,000 each, NJ the option of the purchaser t.
be specified in his proposal.
Tho terms OF the sale Of said Bonds are specie
payable in hand on the delivery Of the Bonds SO
solo to the purchaser or purchasers.
Matured Coupons on al Bonds 0. the denomin-
alton Of ono hundred dollars, arc by the provis-
ions OF said Act receivable in payment Of ali State
taxes.
The sale Of said Bonds, which il to take place
in New York City, with directions for pror osals
therefor, - advertised in the Daily New York
Tribune, the New York Daily Times and Lail,
New York Journal Of Commerce, and in the Daily
Boston Atlas and Daily boston Post, and in the
Daily Chicago Tribune.
Any person wishing 70 invest in said :" Iowa
State Stock, can do 30 on the terms aforesaid. At
their nominal par value Ut the Office Of the Treas
urer Of State, at the Capital, At Desmoines. until
and on the sth day Of July, A. D., 1851, after
which day the undsrsigaed viii proceed 70 New
York City to attend to receiving proposals there
until the 18th day Of July, 1851. Vi noon, ana
opening said proposals. July 18th, 1861, 1t noon.
DssAeINss, June -, 1881.
JOHN w. JONES, State Treasurer.
AATURIN L. FISHER,
Loan Agent.