Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-06-27
SALE OF STATE BOMBS.

FINDER THR PROvIsIONS or AN ACT
~ passed 1t tho Extra Asssion Of the Eighth
General Assembly Of the State sf Iowa. entitled
IAN Act 70 provide for the issue and sale Of
State Bonds % procure loan Of money loe the
State Of Iowa, 10 enable il TO repel invasion and
defend itself In WaS," approved Nay 26th, 1861,
the issue and sale Of the Bonds Of the State j.
authorised 10 an amount not exceeding the sum
Of Eight Hundred Thousand Dollars. The Bonds
srs 70 be issued and sold from time u time, = il
the judgment Of the Board Of Commissioners
created BY said Act, o. the majority Of said hoard,
the WAITS and necessities Of the State may re-
quire.
The Board 1t their meeting held at the Capt.
tai on the 18th If June. 1851, have ordered the
issue and sale Of Bonds to the amount Of Four
Hundred Thousand Dollars. The bonds tharsby
authorised and for sale in the sums Of $780,
90, $500 &C and $1,000 90 zach, 1t che option Of
signed by the Auditor and Treasurer, and sttsst-
ed by the Great Seal Of the Stale Of Iowa, with
interest coupons attached. signed by the Auditor.
but not attes.ed BY the Great seal q the stats.
And provide for the payment Of the principal =
the expiration Of twenty years from the date
thereof and for the payment Of the interest semi
annually on the first days Of January and July Of
each year, At the rate Of Seven per cont. per an
| mum. Both principal and interest on all Bonds
over ono hundred dollars are made payable ct the
Metropolitan bank, in the City Of New York
but the Governor may cause such payment to be
made a. any Othor place in said city BY giving ~
days notice Of such place in three newspapers in
said city.
Both the principal and interest Of al $4,000
bonds are made payable It the Treasury Of this
| state. None of the $4,000 bonds will be sold
| out Of the State.
The State has irrevocably pledged its faith to
provide adequate means TO pay the interest on said
fonds rs the same becomes due, and tho principal
| at the expiration Of twenty years. And for this
purpose all. or SO IN Ich is necessary II tho
revenue arising f.om the entire taxable property
Of The State, been and 10 set apart and plodg-
ep for these purposes and it il made by law the
| duty OF the Census Board or other proper officer
or officers which duty the Law provides may, il
tax in esch year sufficient for these purposss IT.
| ter paymeRt of all expenses Of collection.
No tax, it is provided BY law, shall ever b.
levied By the State Of Iowa on tho stock created
| and the value of the stock shall, in no wise. Dc
impaired by the authority Of the State, but It Il
expressly provided by said Act that nothing there
| in contained shall DO 80 c0nsidsred - " exempt
from taxation suy isst of the capital stock Of the
| Branches of thu state Bank Of Iowa.
| The Board Of Commissioners breasted nv said Act
| have in writing directed the undsrsigned, the
agents appointed by said Act, TO neg0tiste said
loan and sell and transfer said Bonds, to sell said
Bonds any part thereof 81 private sale, in thii
State, ut their nominal par value, until the 18th
day Of July, A. D., 1891 1T which time ell OIL
said Bonds which remain unsold at private sale 10
| this State, may be sold In the City Of New York
| in the manner specified in said Act. No $1,000
Bonds will be sold in the City Of New York bxt
tho bonds there sold will be in the sum Of 450O0(
or $4,000 each at the option Of the purchaser, Il
J be specified in his proposal.
The terms Of the sale Of said Bonds are specie
payable in hand on the delivery Of the Bonds q
| sold TO the purchaser or purchasers.
Matured Coupons on oil Bonds Of the dsnomin
| alton of one hundred dollars, are by the provis
ions OF said Act receivable in payment Of Ill Stat
| taxes. &t4l
The sale Of said Bonds, which j. to take plac'
in New York City, with directions for prog ossl
therefor, is advertised in the Daily New Yor
Tribune, the New York Daily Times and bail
New York Journal Of Conmerss, asd in the Dali
boston Atlas and Daily Boston Post, and in th
Daily Chicago Tribune.
Any person wishing 70 invest in ssid low
State Stock" can do 20 on the terms Aforesaid, .
th cir nominal par vaius ct the Office Of the Treas
ursr Of state, d the Capital, II Dssmoines, usti
and on the Sth day Of July, 4. D., 1851, afts
which day the undersigned will proeeed 70 Ne,
| ork City to attend TO receiving proposals thsr
until the 18th day Of July, 1851, = soon, a
open ing said proposals on July 18th, 1851, stssss
d. SNoINss, June Is, 1851.
JOHN w. JONES, State Treasurer,
NATURIN L. FISHER,