Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-04
SALE OF STATE BOMBS.

FINDER TIE PROVISIONS OF AN ACT
~ passed It the Extra Session Of the Eighth
General Assembly Of the State Of Iowa, entitled
An Act 70 provide for the issue and sale Of
State Bonds 70 procure loaa Of nonsy for the
State Of Iowa, % enable il 70 sspsl invssion and
defend itself in War;" approved Nay 2eth, 1851
the issue and sale Of the Bonds Of the State Il
authorized 10 IN amount not exceeding the sum
Of Eight Hundred Thousand Dollars. The Bonds
are 70 be issued and sold from time t. time, - in
the judgment Of the Board Of Commissioner
created by said Act or the majority Of said Board
the wants and necessities of the State may 70
quire.
The Board at their meeting held ct the Capt.
tal 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 ANA for sale are in the sums Of $780,
90, $4,000 and 3l0O0.00 each, It che option d
the purchaser; signed by the Governor, counter
signed by the Auditor and Treasurer, and attest
ed BY the Great Seal Of the State o. Iowa, with
interest coupons attached, sgned BY the Auditor
but not attes.ed By the Great Seal Of tho State
And provide for the payment Of the principal q
the expiration of twenty years from the dat
thereof, and for the payment Of the interest semi
annually on the fret days Of January and July Of
each year, At the rate of Seven per cent. per an.
mum. Both principal and interest on ali Bond,
over one hundred dollars are made payable ct the
Metropolitan Bank, in the City Of New York
but the Governor may cause such payment 70 b
made At any other place in said city by giving ~
days notice Of such place in three newspapers in
said city.
Both the principal and interest Of al eloo. 90
bonds are made payable It the Treasury Of thi.
State. None Of the $4,000 bonds will be sold
out Of the State.
The State has irrevocably pledged its faith n
provide adequate means to pay the interest said
Eonds as the same becomes due, and the principal
VI the expiration Of twenty years. And for thi,
purpose all. Or an seh il necessary IF the
revenue arising from the entire taxable property
Of the State, nss been snd 10 ses apart sud Pasds
ep for these purposes and it il made by Law the
duty Of the Census Board or other proper oficeu
or officers which duty the Law provides may, il
necessary, be enforced by mandamus) to levy I
tax in each yeAr snficent for thesa purposes af-
ter payment Of Ill expenses Of collection.
No tax, 1t Is provided BY Law, shali ever b
levied by the State Of lows ON the stock created
by said Act. nor on the interest payable thereon
and the value Of the stock shall, in no vise b
impaired BY the authority Of the State, bat il Il
expressly provided by said Act that nothing there
in contained shall be 50 considered IS to exsmp,
from taxation any part Of the capital stock Of the
Branches Of the State Bank Of Iowa.
The Board Of Commissioners created by said Ac,
have in writing directed the undersigned. thu
agents appointed BY said Act to negotiate aid
loan and 10 sell and Bonds to sell sad
Bonds Or any part thereof q private SALE in this
State, 1t their nominal par value, until the 18th
day Of Juiy, A. D., 1851 at which time all Of
said Bonds which remain unseld 1t private sale ia
this state, may be sold in the City Of New York.
in the manner specified in said Act. No 500 90
Bonds will be sold in the City Of New York bat
the Bonds there scld will be in the sum Of $500 90
Or $4,000 each At the option Of the purchases, 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 70
sold to the purchaser or purchasers.
Matured Coupons on al Bends of the denonin-
alton of one hundred dollars, are by tho provis-
ions OF said Act receivable in payment Of Ill STATE
taxes. saz5
The sale Of said Bonds, which il to take place
in New York City, with directions for prst osals
therefor, 10 advertised in the Daily New York
Tribune, the New York Daily Tines and Daily
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 70 on the terms Aforesaid, 1t
their nominal par value, ct the ONCE Of the Treas
urer of State, the Capital, 1t Dssmoines, until
and on the sth day Of Juiy, A. D., 1861, after
which day the undersigned will proceed 10 New
iork City to attend to receiving proposals. there
until the 18th day Of July, 1881. q noon, and
opening said proposals July 18th, 1861, st noon.
DEsNoIxss, juno Is, 1851.
JOHN w. JONES, State Treasurer.
AATUkIN L. FISHER,
Loan Aeeat.