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

NDER THE PROVISIONS OF AN ACT
- passed at the Extra Session Of the Eiohth
uenerai Assembly Of the State Of Iowa. emit lied
~ Acl 70 provide for the issue and sale Of
S.a.e BONDS 70 procure loan Of money Tor the
olte 81 Iowa, 70 enable it to repel invasion and
defend itself in War;" approved NAV z6th. 1851.
the issue AMI sale OF the Bonds Of the State is
autnotixed 10 an amount not exceeding the sum
ot Eight Hundred Thousand Dollars. The Bonds
are to be issued and sold firm time to time "a in
the Judgment ct the Board Of Commissioners
created by said Act, the majority OF said Board
the WAITS and necessities Of the State NAV re-.
quire.
The Board at their meeting held 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
authorized ami for sale are in tho sums Of $780,
10, soO0O 90 and 100000 each, at the option Of
the purchaser; signed by the Governor, counter
signed by the Auditor ana Treasurer, and Attest
Cd by the Great Seal of the State of Iowa, with
interest coupons attached, signed by the Auditor,
put not attes-ed by the Great Seal Of the State.
And provide for the payment Of the principal at
me 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 one hundred dollars are mado payable ut the
Metropolitan bank, in the City Of New York ;
but the Governor may cause such payment to be
made At any other place in said city by giving 30
days notice Of such place in three newspapers iD
said city.
Both the principal and interest Of all 800 90
bonds are made payable ut the Treasury Of this
State. None Of the $4,000 bonds will bo sold
out Of the State.
The state has irrevocably pledged its faith to
PROVIDE adequate means TO pay the interest said
fonds as the same becomes due, and the D, incipal
| ut the expiration Of twenty years. And for this
III. n q IL pQo IF 81
revenue arising fsom the entire taxable property
OF the State, has BEEN and is ct apart and pledg-
ep for these purposes ind it is made 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 u
tax in each year sufficient for these purposes At
a Of ~ y as shall ever BIS
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 bat it is
expressly provided by said Act that nothing there
in contained shall be SD considered as to exempt
from taxation any part of the capital stock Of tie
Branches Of the State Bank Of Iowa.
The Board If Comms soners created by said Act
have in writing directed the undersigned, the
agents appointed by said Act, to- negotiate said
loan and to sell and transfer said Bonds to sell
Bonds or any part thereof al private salo, in this
State at their nominal par value, until the 18th
day VI July, A. ~, 1921 at which time all o
said Bonds which remain unsold at private sale il,
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 Now York bat
the bonds there scld will be in the sum Of $500 90
or $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.
Maturcd Coupons on all Bends o. the denomin-
alton OF one hundred dollars, arc 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 proposals
therefor, is advertised in the Daily New York
Tri bune, the New York Daily Times and Lsily
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 on the terms aforesaid, at
their nominal par value at the Office Of the Treas
urer Of State, at the Capital at Desmoines. until
and on the sth day Of July, A. D., 1861, after
which day the undersigned will proceed to New
i ork City to attend to receiving proposals there
until the 18th day Of July, 1851. al noon, and
opening said proposals on July 18th, 1851, atnoon.
DKsMoINgs, June Is, 1861.
JOHN w. JONES, State Treasurer.
MATURIN L. FISHER,
Loan rant