Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-09
SALE OF STATE BOMBS.

FINDER THE PROVISIONS OF AN ACT
- passed NJ the Extrs SECESSION Of ths Eighth
General Assembly Of the State Of Iowa, enti tied
Act S e. ss To- -: Il 1 ;ss
State of lows, to enable IL TO repeI invasiea a.d
defend itself In War" approved Nay 28th, 1851
the issue and sale Of the Bonds Of tho State il
authorised 10 an amount not exceeding the sum
Of Eight Hundred Thousand Dollars. The Bonds
to be issued and sold from time to time, - In
the Judgment Of tho Board OF Comm sei0ners
created BY said Act or the majority Of said Board
the wants and necessities Of the State may ~.
quire.
The Board at their meeting hold ct the Cant.
tai on the 18th Of juno, 1881, have ordered the
issue and sale Of Bonds to the amount Of -Four
Hundred Thousand Dollars. The Bonds thereby
authorized and for sale are in tho sums of $780, ;.
90, $5OOOc and 100000 each, 1T the option Of
the purchaser; signed by tho Governor, counter
signed by the Auditor and Treasurer, and attest
ed by the Great Seal Of the Stase OF lows, with
interest coupons attached, signed by the Auditor
but not attes.ed by the Great Seal Of the State
And provide for the payment Of th principal ct
the expiration Of twenty years from tho date
annually on the first days Of January and July Of
each year, at the rate Of Seven per cent. per IN.
mum. Both principal and interest on all Bonds
over one hundred dollars are made payable at the
Metropolitan bank, in the City Of New York
but the Governor may cause such payment to BE-
"
days notice Of such place in three newspapers in
said city.
Both the principal and interest of all SlOO. 90
bonds are made payable ut the Treasury Of this
State. None Of the $4,000 bonds will DO sold
out of the State.
Tho State has irrevocably pledged its faith to
provide adequate means TO pay the interest said
f0nds as the same becomes due, and the pI incipal
1t the expiration Of twenty years. And for this
purpose al. or 80 mach US Il necessary If the
revenue arising fr0ln the entire taxable property
OF tho State, mas been and is set apart and pledg
ep for these purposes and it is made by law the
duty Of the Census Board or other proper officer
or officers which duty the law provides may, il
necessary, be enforced by mandamus) to levy q
tax in each year sufficient for these purposes az
ter payment Of all expenses OF collection.
No tax, It is provided by law, shall ever b
BY said Xct nor on the interest payable thereon n
and the value of the stock shall, in no wise, bs
impaired by the authority Of the State, but it ID
expressly provided by said Act that nothing there
in contained shall be SO considered ss to exempt
from taxation any part Of the capital stock Of the
branches Of the 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 negotlstc said
loan and sell and transfer said Bonds sell said
Bonds or any part thereof ~ 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 DOnu6 Wnlc0 remain uDs00 ~ bflv8J0 sale III
this Stale, 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 sold will be in the sum Of $500 90
or 10000 each, the option Of the purchaser, to
be specified in his proposal.
The terms Of the sale Of said Bonds arc specie
payable in hand on the delivery Of the Bonds 90
sold to the purchaser or purchasers.
Matured Coupons on all Bonds OF tho dcnomin-
alton Of one hundred dollars, are by the provis-
ions OF said Act receivable in payment Of all State
taxes.
The sale Of said Bonds, which il 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 Laiiy
New York Journal Of Commerce, and in the Daily
Boston Atlas and Daily Boston Post, and in tbs
Daily Chicago Tribune
Any person wishing to invest in said lows
State Stock" can do so tho terms aforesaid, 81
their nominal par value, It the Office Of the Treas
urer Of state, &C the Capital at Desmoines, until
and on the sth day Of July, 4. D., 1851. sfte'
which day the undersigned will proceed 10 New
ork City to attend to receiving proposals there
until the 18th day Of July, 1861. At noon, and
opening said proposals on July 18th, 1861, at noon
DKsNoINgs, June IL, 1851.
JOHN w. JONES, State Treasurer,
MATUkIN l.. FISHER,
Loan Agent.