The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1863-05-14
LPu6tlshed Aprd Is 1861
EWAPTE R

AN ACT to authorize the borrowing ofmoney to
repel INVASION, suppress insurrection aud defend
the state IN time OF war.
The people gfHe state Of Wisconsin, rep, eseutea
az senate md assembly, do enact as toHovs:
Section /. The governor, seo'y Isecretaryl Of
state and state treasurer. or a maiority of fIiam
are hereby authorized and directed, in the name
ana oehaIt OF the people of this state, tor the pur-
pose OF organizing and bringing ito active service
the volunteer militia, to repel invasion, supare.s
instruction and defend the state in time OF warto
negotiate and contract. for a loan or loans for surb
sum or sums ofmoney asthey may deem necessary
Tor the purpose indicated by this act not exceed,
ing IN the aggregate, the sum of three huudred
and nifty thousand dollars. They shall issue for
me same, coupon bonds, bearing int crest al q
a rate not exceeding six per cent per aDnum
payable SEMI annually, on the first DAYS of Ian,
uary and July, in each year. at such bank in tba
city OF New York as may from time to time 10
designated by the state treasurer, or they NAV
their discretion, issue Tor the SAME " at
amount ds the commissioners OF - tOr such
Verslty lands may choose r -snool and unlN
certificates of Indeht~s " invest IN this loan,
bearing inter- 3aAsss to the school fund,
st at the rat e ofseven per cent. per
;" payable annually, on the 3ist day of May
each year, at the Office of the state treasurer;
and the proceeds of said loan shall be paid INTO
and constitute q part Of the war fund Pr9r'ded,
that no bonds or certificates of Indebtedness au-
thorized by this act, shall be sold at less than
Soc . The bonds and certificates of indebted
ness issued under the authority of this act, shall
ne redeemable as follows. One hundred and fifty
thousand dollars in the year lS93,aud one hundred
thousand dollars in each succeeding year thereat-
ter,tnl TIE whole shall nave been redeemed.
Sec. 3. The bonds shall, be redeemable on the
first day of July, and the certificates OF indebted
ness on the 3Ist day of May, in each Of those
years.
Sec. A. It shall be the duty of the secretary OF
state, annually to levy such per centage OF taxa
ton on the taxable p@operty OF this state, as will
be sufficient to pay the annually aecruiug i~nteres;
on all outstanding bonds and certificates of in~
detedness issued under the provisions Of this act.
and it shall also he the duty of the secretary OF
tate to levy such an amount Of tax on the taxable
property q this stt.e, III tie years Of 1893. 49,.
and -, sufficient 10 pay the principal Of escl
of said bonds and certificates of Indebtedness
maturing in each Of sal year, in accordance with
the provisions OF this act.
Sec. >. There IS hereby annually appropriated
out of any money in the state treasury. a sufficient
sum 10 pay ali Interest due or to become Que on
al bonds heretofore issued for war pun pose. lud
all bonds and certificates issued by vi~fne OF th.,
act. and the state tressu.ar Is hereby 44fhorize,
I'D directed to pay all such interest; AID #, a.
any time, there stali not be a sufficient amount o
money in the treasury, realized from the specia
tax levied for that purpose, to pay said interest
the stale treasurer shall pay the same from any
money in the treasury not otherwise appropriated
Sec. o. Ihet faith Il OF the state Is hereby piedgel
Cor the payment OF principal and interest Of al
bonds and certificate. of Indebtedness which ma
be issued under the provisions o. this act.
See. 7 This act snail take effect and be il
force IRON and after It's passage.
Approved March g, 1858