Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-08
SALE OF STATE BOMBS.

4 INUEh HE tkOyb0NbNA uF An AV1
General Assembly Of the State Il lowe, entitled
"An ACT to provide for the Issue and sale Of
State Bonds 70 procure loan Of money tor the
State Of lows. 70 enable it 70 repel Invasion and
defend itself in Wa" approved Nay 2Sth, 1861,
tho issue and sale Of the Bonds Of the State il
auth oTised TO An amount not exceeding the cum
Of Eight Hundred Thousand Dollars. The Bonds
to be issued and sold from time to time, - il
the judgment Of the Board Of Commissioners
created by said Act, the majority Of said Board
the waats and nscessities Of the State may ~
quire.
The Board Il their meeting held It the Capt.
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 ere in the sums of $780,
90, $50O.OC and 100000 each, 1t the option Of
the purchaser; signed by the Governor, counter
signed by the Auditor and Treasurer, and attest
ed by tho Great Seal Of the State OF Iowa, with
but not attes.ed by the Great Seal Of the State.
And provide for the payment Of the principal at
the expiration Of twenty years from tho 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 al 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
made At any other place in said city by giving 80
days notice Of such place in three newspapers il
said city.
Both the principal and interest of all $4,000
bonds are made payable IT the Treasury Of this
State. None of tho $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
Ponds as the same becomes due, and the principal
at the expiration Of twenty years: And for this
purpose all, or so m sch rs is necessary Of the
revenue arising from the entire taxable property
of tho State, mas been and 10 set apart and pledg
ep for these purposes and it il made by Law the
duty OF the Census Board or other proper officer
officers which duty the law provides may, If
necessary. be enforced BY nandamus) to levy .
tax in each year sunicient for these purposes af
tor payment Of all czPenses Of oOiivutivu.
levied by the State Of lows 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 tho authority Of the State, but it 10
expressly provided by said Act that nothingAhere-
in contained shall DO SO considered IS 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 negotiste said
loan and TO sell and transfer said Bonds to sell said
Bonds or any part thereof 1t private sale, in this
State, at their nominal par value, until the 18th
day Of July, A. D.. 1881 1t which time all Of
said Bonds which remain unseld ut private sale in
this Stale. may be sold in the City of New York,
in tho manner specified in said Act. No $1,000
Bonds will be sold in the City Of New York bat
the Bonds there sold will be in the sum Of $4,000
or $4,000 EACH At the option Of tho purchaser, 70
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 al Bonds OF the denomin-
stion of one hundred dollars, are by tho provis-
ions OF said Act receivable in payment Of al 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
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 !" Iowa
State Stock" can do on the terms Aforesaid, 1t
their nominal par value ct the Office of the Treas
urer Of State, It the Capital st Desmoines, ustil
ana on the sth day Of July, 4. D.. 1851, altar
which day the undersigned will proesed TO New
iork City to attend to receiving proposals. there
until the 18th day Of July, 1851. q noon, and
opening said proposals ON July 18th, 1851 atnoon.
DEsHoINss, June Is, 1881.
JOHN w. JONES, State Treasurer,
NATURIN L. FISHER,
Loan Agent.