The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-02-07

Whereas, The bonds of the Common wealth,
and certain certificates of Indebtedness
amounting to TWENTY THREE MILLIONS
OF DOLLARS have been overdue and unpaid
for some time past;
And aVhereas. 1t is desirable that the same
should be paid, and withdrawn from the market:
therefore,
Section l. Be ii enacted by the Senate and House
of Representatives. Of the Commonwealth Of Penn
SYIrGd iR General assembly met, and IL Is hereby
enacted JU the authority Of The same That the
Governor, Auditor-General, and State Trea-
surer be, and are hereby, authorized and en-
powered TO borrow, on the faith of the Com
monwealth, in such amounts and with such
notice mot less than forty days. as they may
deem most expedient for the interest of the
Slate, Jwenty-thTee millions of dollars and
issue certificates of loan or bonds of the Com
monwealth for the same, bearing interest at n
rate not exceeding six per centum per annum
payable semi-annually, on the LIST of February
and lst of August, in the city OF Philadelphia;
which certificates of loan or bonds shall not be
subject TO any taxation whatever, for State,
municipal, or local purposes, and shall be paya-
bic as follows namely:-Five millions of dollars
payable at any time after five years, and
within ten years; eight millions of dollars paya-
ble at any time after ten years, and within fif.
teen years; and ten millions of dollars at any
time after fifteen years. and within twenty-five
years; and shall be signed by the Governor and
| State Treasurer, and countersigned By the
Auditor General, and registered in the books of
| the Auditor-General, and to be transferable on
the books of the Commonwealth, at the
! Farmers and Mechanics National Bank of
! Philadelphia the proceeds of the whole of
| which: loan, including premiums, etcetera,
received on the same, shah be applied to the
| payment of the bonds and certificates of in
| debtedness of the Commonwealth.
Section q The bids for the said loan shall be
| opened in the presence OF the G I'VE, nor, Audit
! tor-General, and State Treasurer, and awarded
| TO the highest bidder T,oCided That no certih.
! cafe hereby authorized to be issued shall be
negotiated for less than its par value.
! Section 5 2 he bonds OF the State and certif.
! Gates OF Indebtedness, now overdue, shall De
receivable IN payment o the said loan, under
| such regulations the Governor, Auditor
| General, and State Treasurer may prescribe;
| and every bidder for the loan now authorized
| 10 be issued, shall state in his bid whether the
same is payable in cash or in the bonds. or
certificates of indebtedness of the Common
wealth.
Section 4. That all trustees, executors, admin
/ isuators, guardians, agents, treasurers, COM
! mittees, or other persons, holding, in a fidu-
clary capacity, bonds or certificates of indebt-
edness OF the State or moneys are hereby
authorized to bid for the loan hereby authorized
/ TO be issued, and to surrender the bonds or
certificates of loan held by them at the time or
| making such bid, and to receive the bonds
authorized to be issued by this act.
| Section 5. Any person or persons standing in
the nduclary capacity stated in the fourth Sec
tlon @ OF this act; who may desire to invest
| trust, may, without any order of court invest
the same in the bonds authorized to be issued
| oy thls act, at rate of premium not exceed
| ing twenty per centum.
Section Q. That from and after the passage or
thlSa act, all the bonds of this Commonwealth
snail pe PAID of In the order of their maturity.
seGtlon 7. That all loans of this Common
| Wealth, not yet due, shall be exempt from
9ae, Hta9ee, municipal, or local taxation after the
paid.
Section s. That all existing laws. or portions
inconsistent ra prph nv re-
pealed.
o.oo,-.., JOHN p. GLASS,
speaker OF the House of Representatives.
l.. w. HALL,
.,,., , Speaker of the Senate.
! .,ApProVeu ihe second day of February, one
Thousand eight hundred and sixty-seVen,
JOHN W, GEARH.
In accordance with the provisions of the
above act of Assembly, sealed proposals will
pe received at the Office of the State Treasurer
~ 'he Guy OF Harrisburg, Pennsylvania until
- ciock NJ OF the lst day of April, a. ID. 1867
" oo endorsed as acknowledgements for Penn.
sSNahia State Loan" Treasury Department.
harrisburg, Pennsylvania, United states Of
America
n'us VIII be received for s., ,OOO,OOO reimburse
90 D1o ooddi in nNe years and payable in ten years.
t 49,, iei'iouEsaole IN ten years, and payable
az ii'een years; and SlO,O0OOOO rembursable in
htteen years and payable i'm ty,ent,,-t,,o ,,oars
Ane rate Oh interest to be either five or six per
eeh'' per ahnum, which must he e~nlicitly
stated IN the bid, and the bids most adyanta-
seous 10 the State will be accepted. No bid for
less than par will be considered. The bonds
VIII be issued in sums of $50, and snch higher
sui'e as desired oy the loaners, to be free from
state' local. and municipal taxes.
The overdue bonds of the o.. .,,,, -,
rant - wanna , WIN be received at par in pay.
whether they intend to nav I'm oo.t' ,' ~" g., me
overdue loans aforesaid. N'''' - -
No distinction will be made ho,,,,o,, ,,,,,ers
paying In cash or overdue loans.
JOHN W. GEARY,
Governor of Pennsylvania.
JOHN f. HARTRANFT,
AudltOr-General.
W. H. KEMBLE,
A.. State Treasurer.
I'D ~ Do ~, No newspaper publishing the above,