Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-01
SALE OF STATE BOMBS.

SDEK THE PROVISIONS or AN ACT
- passed at the Extra Session Of III. E;1h,h
ene.al Assembly Of the State Of Iowa. ant; ,Isd
S,a,a ~. g provide for the issue and sale q
ST.. oonas 10 procure loan Of money tor the
.s'e OF Iowa, to enable it to repel invasion and
,e.end itself in War;" approved May 18th. 1861.
s,sL .ssoe anu sale Of the Bonds Of the State il
~ CEsuon1ed 70 IN amount not exceeding the ann
I.gnt hundred Thousand Dollars. Tho Bonds
=. 20 DC issued and sold from time to time. "A in
.ne Judgment ct the board OF Commi ssioners
tho " sald Act, or the majority of said Board
quire. - 0'A'o may r.
Auc board at their meeting held at the Cant
"a On the 18th Of June, 1851, have ordered tho
. - and sale of Bonds to the amount Of Four
hundred Thousand Dollars. The Bonds thereby
:" AM Tor sale are in the sums Of $780,
~, v.ovVe ana Slo0O.O each, 1t the option Of
.ne purchaser; signed by tho Governor, counter
slsned oy the Auditor ami Treasurer, and attest
Gu ~ the Great Seal Of the State Of Iowa, with
interest coupons attached, signed by the Auditor.
oat not attes.ed by the Great Seal OF the State.
a. ana provide for the payment Of the principal At
.ac expiration OF twenty years from the date
ne.eo!, ana ior the payment Of the interest semi
annually on the first days of January and Julv Of
eaon year, at the rate Of Seven per cent. Der 81.
mum. Both principal and interest on ali Bonds
oser one hundred dollars are made payable at tn Q
metropolitan Bank, in the City Of New York :
out tue governor may cause such payment to be
maze a. any other place in said city by giving 30
said city. =
Both the principal and interest of all &lOO. 90
oonds are made payable Ut the Treasury Of this
state. None of the $4,000 bonds will be sold
out of the state.
Inc state has irrevocably pledged its faith to
adequate means to pay the interest on said
ronds as the same becomes due, and the p incipal
~ the expiration Of twenty years. And for this
purpose all, or so IN ach is necessary Of the
revenue arising ftom the entire taxable property
OF the State, mas been and is ct apart and piedv-
ep Tor these purposes and it is made BY law the
duty OF tho census Board or other proper officer
or officers which duty the law provinces NAV. if
necessary, be enforced by mandamus) to lew q
tax in each year sufficient for these purposes af-
ter payment OF all expenses of collection,
No tax, It is provided by law, shall over b.
levied by the State Of Iowa on the stock created
by said Act, nor on the interest payable thereon
and the value of the stock shall, in no wise, be
impaired by the authority Of the State, but it is
expressly provided by said Act that nothing there
IN contained shall be 50 considered Is to exempt
from taxation any part OF the capital stock Of the
Branches of the State Bank of Iowa.
The Board Of Commiss created by said Act
have in writing directed the undersigned, the
agents appointed by said Act, to negotiate said
,an and to sell and transfer said Bonds to sell said
Bonds or any part thereof At private sale, in this
State, at their nominal par value, until the 18th
day Of July, A. d., 1851 at which time all OF
said Bonds which remain unseld at private sale in
this state, may be sold in the City Of New York,
in the manner specified in said Act. No $4,000
Bonds will be sold in the City Of New York but
the Bonds there sold will be in the sum Of $500 90
or $4,000 each, at tho option of the purchaser to
be specined In his proposal.
The terms Of the sale Of said Bonds are specie
payable in hand on the delivery Of the Bonus SO
sold to the purchaser or purchasers.
Matured Coupons all Bonds OF the denomn-
alton Of one hundred dollars, are by the provis-
ions Of said Act receivable in payment of ali State
taxes.
The sale of said Bonds which is to take place
in New York City, with directions for prog osals
therefor, is advertised in the Daily New York
Tribune, the New York Daily Times and Daily
New York Journal Of Commerce, and in the Deily
Boston Atlas and Daily Boston Post, and in the
Daily Chicago Tribune.
Any person wishing to invest in said Iowa
State Stock" can do so the terms aforesaid, 1t
their nominal par value, at the office Of the Treas
urer Of State, at the Capital, At Desmones, until
and on the Sth day Of July, A. D., 1861, after
which day the undersigned will proceed TO New
| ork City to attend to receiving proposals there
until the 18th day of July, 1851. aI noon, and
opening said proposals on July 18th, 1861, at noon.
DRsMoINRs, June Is, 1861.
JOHN w. JONES, State Treasurer,
AATURIN L. FISHER,