The Union. [volume] (Georgetown, Del.) 1863-1866, 1864-08-26

same uay, snail De signed by the Governor,
Secretary of State and State Treasurer on
behalf of the State, and shall have the Great
Seal affixed and may be post-dated so as to
bear interest from the first day of January
A. D. 1865.
SECTION 10. And be Il. further enacted by
the authority aforesaid, That the State Trsa.
surer be and he is hereby authorised, empow.
cred and required to sell and deliver such
number of said bonds as may be necessary
to provide the funds required to pay the war
rants authorised to be drawn upon him by
tie Commissioners AIMED and appointed in
Section of this act. The sale Of said bonds
shall be made publicly in the city of w lining
ton to the highest bidder, due notice of said
sale, fixing the day, hour and place, having
first been given by advertisement for teu days
in all the papers Of this Stat aud in the 'Pub-
lie Ledger" and "The Age" newspapers
published in the City of Pnilad elphia, and
in the journal of Commerce newspaper
published in the City Of NEW York. PROVIDED
that the bonds sold at any one time shall not
exceed in amount the sum of two hundred
and fifty thousand dollars.
SECTION IL. And be IL further enacted by
the authority aforesaid, That it shall be the
duty of the State Treasurer, after the said
onds shall have been signed by the Cover
ner and Secretary OF State, with the Great
Seal affixed, to deposit said bonds in the Far
mers' Bank At the State of Delaware, at
Dover, without his own name affixed thereto,
and the sad bonds shall not be taken theFe-
fr IN except for the purpose of selling, as prV-
vided in Section 10 OF this act, nor shall the
STATE Treasurer sign his own name to said
b ,nds until the day in which he shall offer
the same for sale as aforesaid.
SECTION II. Ind be ii further enacted By
The authority aforesaid, That the faith Of this
State is hereby firmly and faithfully pledged
for the payment of the principal aud interest
Ut sad bonds. III
SECTION l3. Aad be IL further enacted by
the authority aforesaid, That for the purpose
of meeting any demands upon the Treasurer
created in consequence of this act, until the
bends authorized by this act can be sold, the
StUte Treasurer be and he is hereby autho-
rized, empowered and required to borrow
from time to time, and on such time as he
may deem necessary, not exceeding sky
days, any sum or sums not exceeding one
hundred thousand dollars which may De Ie-
qured for tina purpose, to be paid out oi
the proceeds of the sales of the bonds Of this
State aforesaid.
SECTION IA. And be IL further enacted dy
the authority aforesaid. That the proceeds ol
the sales of the bonds authorized by this act
are hereby appropriated to the payment OF
the warrants authorized by this act to be
drawn upon the State Treasurer, aud to the
expenses necessarily incurred by that officer
in the Performance of the duties imp .sed upon
him by this act, and to the payment of any
money borrowed under the provisions OF Sec
tion l3 of this act.
SECTION 10. And be it further enacted By
tile authority Joresaid, That the State Trea-
surer shall receive his services under this act,
one tenth Of one per centum on the amount
received from the sale Of said bonds aud shall
be allowed in add thereto all expenses
necessarily incurred in the performance OF
the duties required of him by this act: Pro-
vded, That tie whole amount Of compensa-
ton to said State Treas urer above tie ex-
p incurred as aforesaid shall not exceed
the sum Of five hundred dollars. lie shall
keep an aclu ate account of such expenses
and exhibit the same TO the Auditor vi Ac-
counts with his vouchers for settlement. lie
shall report TO the General Assembly of the
State, on the third Tuesday iK Jan uary next,
sold and the amount realized thereirom, with
the names of the purchasers Of said bonds
and the amount applied by him to the pay
ment of the warrants authorized to be drawn
upon him by this act. He shall be liable
upon his official bond for the faithful per-
formance Of the duties imposed by the act.
SECTION l6. And be aJarther enacted BY
the authority aforesaid, That if either of the
Commissioners namei in this act shall die
o. refuse or neglect to serve, the other Com
IN ssioners or Commissioner shall have power
and are hereby authorized to ill the vacancy,
from the county in which the vacancy shall
occur.
SECTION II. And be 10 further enacted By
the authority aforesaid, That the State Trea-
surer shall not sell the bonds aforesaid to q
greater amount than may be necessary to
pay the demands upon the Treasury created
by this act, and it shall be the duty of sad
S ate Treasurer Immediately after full pro-
y's,on has been made by the sale of a sufh-
cient number of said bonds to pay such de-
mands, to cancel in the presence of the Presi-
dent and Cashier Of the Farmers Bank of the
State Of Delaware, at Dover all bonds of the
State remaining unsold and on deposit in
said Bank. ...f'.-.
Passed at Dover, AugustI2, 1854. |
JOHN SoRDEN,
Speaker Of the House of Representatives.
.,,ess as,,... JOHN GREEN,
Speaker of the Senate.
"A true CODY.