Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1861-06-12

| OF edlngs shall be had therein ~ are or
may be prescribed or authorized by the
Laws Of Virgins in such cases. g
ARPRoEED, February 5, 1861.
I CHAP. EXIX--An Act authorizing Lean.
Be it enacted By the Senate and House
QJ Representatives ofthe United States Of
ARssyIca ia Congress assembled, That the
President Of the United States be xnd
hereby is authorized. at any time before
tn first day Of July next, to borrow, on
the credit Of the United States, sun not
exceeding twenty five millions Of dyllars,
or 60 nauch thereof -, in his opinion, the
exigsnaiss Of the public service may re-
quire to be used Ia the payment Of the
current demands upon the Treasury and
for the redemption of treasury notes now
outstanding, and to replace in the Treas
ury any amount Of said notes which shall
have been payed and received for public
| dues. |.s+. aN y
Sac. 2. AHd be IL further enacted, That
stock shall be issued for the amount 80
borrowed, bearing interest not exceeding
sax per esntum per annum, and to be re-
iEnbursed within a period not beyond
twenty years and not less than Ten years !;
| and the Secretary Of the Treasury be and
is hereby authorized, with the consent Of
| the President, to cause certificates Of stock
| to be prepared. which shall be signed bv
the Register and aealed with the seal of
| the Treasury Department, for the amount
so borrowed, in favor Of the parties lend
ing the same, or their assigns, which Ger
| tidca&es may be transferred On the books
| Of the Treasury, under such regulations
| as may be established by the Secretary Of
the Treasury: Provided, That no certi6-
| cate shall DO issned for less sum than
one thousand dollars: AtGd provided, also,
That, whenever required the Secretary
Of tha Treasury may cause coupons Of
| semi annual interest payable thereon to
| be attached to certificates issued under
this act; aud any certificate with such
coupons Of interest," attached may be as
sigaed and transferred By delivery of the
san1e, instead of being transferred on the
book Of the Treasury.
SEC. 8. Had BE- II further enacted, That,
before awarding said loan, tha Secretary
Of the Treasury shall cause TO be inserted
in Two of the public newspapers OF the
city Of Washington, and in one or more
public newspapers in other cities Of the
United States, public notice that sealed
| proposals for such loan will be received
until certain day, 10 be specified in such
uotiea, not less lhaA ten days from its arss
| insertion in W asAingson newspaper; and
such notice shall state the amount of the
loan, at what periods the money shall be
paid, if by instslsnenss, and at what pla-
cea. Such sealed proposals shall be open
ed, on the day appointed in tho notice, in
the presence OF such persons as uaay choose
10 attend, and the proposal decided by
| the Secretary Of the Treasury, who shall
ascapt the most favorable ofsored by re-
uponsible biddeEs for said stock. And
| the sAid Secretary shall report to Con-
gress, at the commencement OF the next
session, The amount of NANCY borrowed
under this acs, and Of whom and On what
terms ii shall have been obtained, With
an abstract or brief statement OK al the
| proposals submitted for the same, distsn-
| gushing beswean those accepted and those
rsieosea, with 8 detailed saasemsns of the
| expense of making such loans. -sg.g
SEC. 4. And 5a Il f4riHsr enacted, That
the faith of the United States u hereby
| pledged for the due payment Of the inter
est and the redemption Of the prtnuipaa
/ Of said stock t.sg 7
/ SEC. 5. Aad BE tt further enacted, That
the residue Of the loan authorized By the
act OF twenty second Of June, eighteen
hundred and sixty, or SO anch thereof as
ia necessary, shall be applied 10 the re-
| demptioa Of the treasury nosas issued nm
der the act of sesenteenth OF December,
Eeighseen hundred and sixty, and for no
other purpose and the Secretary Of the
Treasury Is hereby authorised, aE bis dis
cretian, TO exchange at par bonds Of the
United States authorized BIZ said act of
swenty-second Jnne, eighteen hundred
asd SIXTY, for che said treasury notes, and
the asoruiug inseEast thereon.
| SIC. 6, 4ssd be II further saaeted, That,
TO defray the expenses OF engraving and
printing pertiEeakee of such stock, and
osheg expsnses Incident 10. the execution
of this act, tbs saEa of twenty thousand
| dollars ID hsreby appropriated Erogsded,
Tat no Compensation shall be allowed
fsg any service psrferned under this aci
to any of6ces shsse salsFy Ii established
| By Law.
SEC. I. dad be- Il fsirkhsr szaesed, Thai
| the Secretary of the Treasury shal not b
obliged 20 aoesps The most fsvofahla bid
as hslssnhmfera provided, unlsss hs shail
consider ID advantageous 30 IhB Uniaas
| States 10 do 20, pat for aay portion a
sueh loan. nos taken under the Hfss aavsr,
ssseFmessa. he nav advertise axasn Il Iii