The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1861-07-12
LAWS OF WISCONSIN,.
Passed at the Extra Session Of the
Legislature.

AGSlSldtuIc.
Published May 81, 1861.
CHAPTER 13.-ExrRA SESSION.
An Act to provide for borrowing money
to repel invasion. suppress Instruction,
and defend the State in time of war
The People of the State of Wiseonsin
represented in Senate and Assembly, do
enact as follows:
Sec. l. The Governor, State Treasurer,
and Secretary of State, or a majority Of
them, are hereby authorized and directed,
in the name and in behalf of the beople
| Of this State, for the purpose of organic
ing and bIingidg into active service tie
volunteer military to repel invasion, sup>
| press Instruction, or defend the State in
time of war, to negotiate and contract for
lone or loans, for such sum sum. a. may be
necessary for the purposes indicatediby thi.
act, not exceeding in the aggregate The sum
of One Million Dollars Oh the most favor
able terms which in their Judgment can
be obtained, at the rate of interest not ex-
eeeding six per 2entum per annun, pay
able semi-annuallp, on the first day of
January and July in each year, a. follows
to wit; the interest on all bonds amount
ing each to five hundred dollars or up
wards, shall be payable at such bank in
the city Of New York, as may from time
t. time be designated by the state treasur-
err; and The interest on all bonds of less
amount each than FIVE hundred dollars,
shall be payable at the State Treasury
The principal OF such loan shall be re-
deemed from time TO time as hereinafter
specified aud the proceeds OF said lone
shall be known as the War Fund All
expenses which have been hereafter be in
cured, under the provision. of this act, or
under the provisions of chapter 239 of
General Laws of 1861, in any manper con-
nected with the raising, organizing and
equipping of volunteers, shall he paid out
of said fund: and any money which may
have been drawn from the treasury out Of
any other fund under the provisions of
said chapter 239, shall be reimburse from
the proper fund from said War Fund
Sec. 2. For the purpose of effecting the
loan AUTHORIZED by this act, the Govenc-,
State Treasurer and Secretary of State, or
any two of them, are hereby empowered
and directed to cause to be issued from
time to time, as they may deem necessary.
bonds of the State of Wisconsin, in sums
Of not less than Ole hundred nor more
than one thousand dollars each, to be
signed by the Governor and countersign-
ed by the Secretary of State and State
Treasurer, with the seal Of the State af1ix>
ed and coupons for the interest thereunto
attached The princi pie and interest of all
bonds of less denomination than five
hundred dollars, shall be payable a, the
State Treasury; and the pricipal and in
terest of all bonds of denomination Of
FIVE hundI ed dollars and upwards, shall be
payable at such bank in the city of New
York as may from time to time be desis
mated by the State Treasurer, and all such
bonds shall be drawn in favor Of the Sec
rotary of State, and when endorsed by
him, shall be negotiable in such manner
as the Governor, Secretary of State and
Sac Treasurer shall deem proper.
Sec. 8 All moneys arising from the
sale of the bonds authorized by this act,
shall be paid into the treasury of the state,
to the credit Of the War Fund, and shall
be drawn lherefrom on the warrant Of the
Secretary of State, In such manner as pro-
vided by.
Sec 4. The bonds issued under the pro
visions of this act, shall be registered in a
book provided for that purpose and kept
in the Office of the Secretary of State,
which registry shall contain the number
and amount of each of such bonds, the
time when due and the pace where
payable Whenever any such bonds shall
be paid, such bond shall dc instantly can
cejed by the Treasurer or rther person
paving the same, with a canceling ham
mer The Secretary OF State shall also
keep a fnl record fall the bonds taken
up and paid, in book provided for that
purpose and Immediately after such rec
ord shall have been made as aforesaid the
bonds SO payed shall be cancelled, by
writing across the face of each, which con
celment shall be signed by the Secretary
of State and the State Treasurer, and filed
in the Office of the Secretary of State.
Sec. 5 The bonds issued under The au
thoritv Of this act. shall be redeemable as
follows, to wit The first hundred thous-
and dollars issued under the provisions of
this act shall be reieemabe on the first
dar Of July, one thousand eight hundred
and seventy seven; and one hundred thous,
and dollars shall be releernable on the
first day ofJuly annually thereafter, until
the whole Of said bonds shall have been
redeemed
Sec. g. 1t shall be the duty of the Sec
rotary of State. annually to levy such per
centage of taxation on the taxable proper,
ty of this State, as will be sufficient to pay
the annually accruing interest on all cut
standing bonds issued under the authority
of thi, act. And it shall also be the duty
of the Secretary OF State to levy such an
amount of tax on the taxable property of
this State, in the year one thousand eight
hundred and seventy-six, and annually
thereafter, sufficient to pay the principal
of each of said donds, maturing during
each Of the next ensuing years respective
ly, till said bonds shall have all been re
deemed, in accordance with the provisions
Of this act,
Sec. I. The faith Of the State is hereby
pledged for the payment Of principal and