Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1861-07-01
SALE OF STATE BOMBS,

FINDER THE PROVISIONS OF AN ACT
~ passed at the Extra Session Of the Eighth
General Assembly Of tho State Of Iowa, enti tied
''An ACT to provide for the issue and sale Of
State bonds to procure loan Of money fos tho
State of Iowa, to enable it to repe invasion and
defend itself in War;" approved May 18th, 1851,
the issue and sale Of the Bonds Of the State il
authorized 10 an amount not exceeding the sum
of Eight Hundred Thousand Dollars. The Bonds
to be issued and sold from time to time, as in
the judgment of the Board OF Commi ssioners
created by said Act, the majority Of said Board,
the wants and necessities Of the State may re-
quire.
The Board at their meeting held at the Capt.
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 and for sale in the sums of $780,
90, S500Oc and $1,000 90 each, At che option Of
the purchaser; signed by the Governor, counter
sgGed by the Auditor and Treasurer, and attest
ed by the Great Seal of the State OF Iowa, with
interest coupons attached, signed by the Auditor.
but not attcs. ed by the Great Seal Of the State.
And provide for the payment Of the principal ut
the expiration of twenty years from the date
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 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 $lOO.OO
| bonds are made payable at the Treasury Of this
State. None OF the $4,000 bonds will BIO sold
| out of the State.
| The State has irrevocably pledged its faith to
provide adequate means to pay the interest said
| fonds as tho becomes due, and the principal
| at the expiration of twenty years. And for this
| purpose all, IN lch il necessary Of the
sir fnaa
| of the 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 provinces may, il
ii each year sumcIeht FOR t,ose purposes at
terpaymeat Of all expenses of collection.
No tax, it is provided by law, shall ever be
levied by the State OF Iowa 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, but it is
expressly provided by said Act that nothing there
IN contained shall be SO considered rs to exempt
from taxation any part of the capital stock Of the
Branch 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 negotiate said
and to sell and transfer sand Bonds, to sell
Bonds any part thereof At private sale, in this
State, at their nominal par value, until the 18th
day OF July, A. d., 1881 at which time all OF
said Bonds which remain unsold at private sale in
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 New York but
the Bonds there sold will be in the 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 50
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 all State
taxes. raa-4s1
The sale Of said Bonds, which is to take place
in New York City, with directions for prop osals
therefor, is advertised in the Daily New York
Tribune, the New York Daily Times and baily
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 Now
ork City to attend to receiving proposals there
until the 18th day Of July, 1851, at noon, and
opening said proposals on July 18th, 1861, atnoon.
DEsMoINEs, June ID, 1861.
JOHN w. JONES, State Treasurer,
MATUKIN L. FISHER,
Loan Agent.