Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-06-29

SALE OF STATE RONDS.

Under THE PROVISIONS or AN ACT
~ passed at the Extra Session Of the Eighth
General Assembly Of the State Of Iowa. entitled
IAN Act 10 provide for the issue and sale Of
State bonds TO procure . loan Of money for the
State Of Iowa, 20 enable il to rcpei invasion and
defend itself in War;" approved Nay 18th, 1851.
the issue AMI sale of the Bonds Of the State Is
authorized 10 IN amount not exceeding the sum
Of Eight Hundred Thousand Dollars. The Bonds
are to be issued and sold frvm time to time, Is in
the Judgment OF tho bosrd Of Commissioners
created by said Act, the majority # said 3oard
the WAITS and necessities Of tho STATE may n
quire.
The Board at their meeting hold At the Capi-
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
authorised and for sale ere in the sums Of $780,
90, $4,000 and 100000 each, It the option q
the purchaser; signed by the Governor counter
signed by the Auditor and Treasurer, aud attost-
ed BY the Great Seal of the State OF Iowa, with
interest coupons attached, signed by tho Auditor.
but not attes.ed by the Great Seal of tho State.
And provide for the payment Of the principal st
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 cent. per an
mum. Both principal and interest on ali Bonds
over ono hundred dollars are made payable at the
Metropolitan Bank, in the City Of New York !;
but the Governor may cause such payment to DO
made a. any other place in said city by giving 80
days notice Of such place in three newspapers in
said city.
Both the principal and interest Of oil 500, 90
bonds are made payable at 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 said
sonds as the same becomes due, and the p incipal
at the expiration of twenty years. And for this
purpose ALL or so IN lch IL necessary Of the
revenue arising f.Om the entire taxable property
OF the State, has been md 10 ct apart and p edx-
ep for these purposes and il is mado by Law the
duty OF the Census Board or other proper officer
or officers which duty the law provinces may, II
necessary, be enforced by mandamus) to levy q
tax in each year sufficient for these purposes A.
terraymeat Of all cxPonsee Of oolieosioa.
No tax. it is provided by law, shall ever b.
levied by tho State Of Iowa on the stock created
by said Act, nor the interest payable thereon /;
and the value OF the stock shall, in no wise, be
impaired by the authority of the State, but il is
expressly provided by said Act that nothing there
in contained shall be 50 considered rs to exempt
from taxation any part Of the capital stock Of the
Branches of tho State Bank of Iowa
The Board of commissioners created by said Act
have in writing directed the undersigned. the
agents appointed BY said Act, to negotiate said
lean and sell and transfers Bonds, to sell said
Bonds any part thereof ~ private sAIe, ia this
State, IT their nominal par value, until the 18th
day Of July, A. d., 1881 1t which time all Of
said Bonds which remain UNFOLD at private sale ia
this state. may DO sold in the City Of New York,
in the manner specified in said Act. No $780,
Bonds will be sold in the City Of New York bat
the Bonds there sold will be in the sum Of $500 90
$4,000 each, At the option of the purchaser to
be specified in his proposal.
The terms of the sale Of said Bonds are specie
payable in hand on the delivery Of the Bonds SO
sold to the purchaser or purchasers. -.
Matured Coupons on all Bonds OF the denomin-
alton OF one hundred dollars, are by the provis-
ions OF said Act receivable in payment Of ali State
taxes. .1Ysc:ss
The sale Of said Bonds, which il to take place
in New York City, with directions for prot osals
therefor, is advertised in tho Daily New York
Tribune, the New York Daily Times 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 70 invest in said lowe
State Stock, can do 80 on the terms afossMid, ct
their nominal par value ct the Office Of the Treas-
urer Of State, NJ the Capital, IT Desmoines, until
and on the sth day Of July. 4. D., ls6l, after
which day the undersigned will proceed to New
ork City to attend to receiving proposals there
until the 18th day Of July, 1851, q noon, and
opening said proposals on July 10th, 1851 atnoon.
DEsAoINBs, June l3, 1851.
JOHN w. JONES, State Treasurer,
MATURIN Il FISHER,
Loan A1ont