The Van Buren press., 1869-04-20
The PuHdiag Hi.


passed the House on Thursday evening
April ls.,by the following vote:
1 YEAs-Brashear, Brooks, Bush, Butter,
Carroll, Chrisman Glen, Coates. Coolidge,
4 Curry, Dial, Exon, Fitzwster, Fcrpeson,
Goad, Grey, Gray, Gunther, Hawkins,
Hufstedler, Lee, Manecs, Merrick, Nor.
row, Mccullough, Newell, Oliver, Pears,
Price, Reed, Rush, Sharp, Stansberry,
Upham, White, John J. Williams, wills.
French---34.
NArs--Ayers, Parrelly. Harrison,
Houghton, Hopper, Ivy, Livcssy, Nose.
ley, Nichols, Owen, Rawlings, Samuels.
Smith, Turman, Vaughan, Whitson, Will
iams, of Marion. and Wishard-lS.
A bill to be entitled an act to provide for
the funding Of the public debt of the
State:
BE ii enacted BY the General Asssm1iv
Of the State Of Arkansas.
SrcrIoN /. That the Governor is here.
ny authorized and requested to fund the
debt OF the State, consisting Of bonds is
sued by the State to the Real Estate Bank
and State Banks. by issuing new bonds
OF the State in lieu Of the bonds issued
to said Real Estate and State Banks. A
hereafter provided.
SEC. 2 That the bonds to be issued in
pursuance Of this act, shall he for the sum
Of one thousand dollars each, in perfect
form, payable thirty years after date, anil
bearing interest at the rate of SIX per
cent per annum, with coupon. warrants
attached, for the amount of the install
ment OF interest, payable in the city Of
New York. as hereafter provided. Said
bonds to signed by the Governor, and
sealed with the seal of the State, to be
countersigned by the Treasurer. and ds.
ted, numbered, and registered in the Of.
nee Of the State Auditor, the date of such
registration to be endorsed upon, and
signed by the Auditor, officially, provid
cd. that the Treasurer's signature to the
coupons may be engraved or lithograph-
ed, at his discretion, with the concurrence
Of the Governor. .l -s4.. ~.
SEC. 3. That the amount Of tn. nes
bonds issued shall be the amount Of IN.
old bonds. with accrued interest thereon
said interest to be computed from the
'lme OF the last payment of interest upon
said Old bonds, to the date Of the issue
of the new bonds. ..e. r~1-ls-
osc. T. That the bonds issued in lieu
OF the five hundred bonds issued 70 the
Real Estate Bank numbered from one Ia
ilve hundred inclusive. letter, /" A, !" dated
July LIST, 1888, also the honds issued in
lieu OF the five hundred bonds issued to
the Zeal Estate Bank, numbered from
one to hyc hundred inclusive, letter &C"
dated Jangsy5xolston'-.ss.insn -ss.nne yaar.s inter.
day OF January, 1871, and semi. annual
interest thereafter, payable on the first
days Of July and January.
Sec 8. That tho bonds to be issued In
lieu of all other bonds issued by the State
to the Real Estate and State Banks, un
redeemed, shall be dated, and the interest
made payable rs provided in this section,
upon the presentation Of any of said old
bonds to the Governor. for the purpose
OF funding the same, he shall divide the
amount Of said bonds and accrued inter
est thereon, in two equal amounts, and
issue bonds for one Of said equal amounts
dated at the same time, and interest pay
able in tho same manner as provided In
section four OF this act, and for said other
equal amounts. he shall issue bonds dated
July LIST, 1869, with interest payable
semi annually thereafter.
SIC. 9. That upon the execution of any
bonds by tho Governor, under the pro
visions Of this act. he shall proceed to
exchange them for the old bonds to the
Treasurer, and take duplicate receipts
therefor. ono Of which he shall tile in the
office Of the State Auditor
SEC. Z. That the Treasurer, upon re
ceiving any bonds from the Governor, ~
provided in the preceding section, shall
Immediately cancel said bonds in some
appropriate manner, and also enclose, or
mark them cancelled upon the register Of
the same In his office. u.. 7t't. IS.
SEC. 8. That it shall be the duty Of the
State Auditor, to ascertain and certify
to the Treasurer, at least thirty days prior
to any installmcnts Of interest falling due
upon bonds issued In pursuance OF the
provisions Of this act, the amounts rc.
qured to be set apart to meet such in.
stalmonts OF interest, and also the amount
required to be set apart annually as a
sinking fund to meet the principle at ma
turty Of tho bonds, and said Treasurer
shall provide Immediately for the pay.
lnent thereof; and set apar. and invest
the amount required as q sinking fund in
some Of the bonds to be issued under au-
thority Of this act or in some ofthe bonds
Of the United States. apl ti fft'
SEC. 0. That II shall be the duty OF the
Treasurer, upon the receipt of any Of the
bonds issued under authority OF this act,
by investment OF the sinking iund In
them. or otherwise, and upon the pay
ment of the coupons for installments Of
interests on said bonds, to cancel the
same. and certify to the Auditor the mum.
bers and the amount Of such bonds and
coupons, which certificate shall be exam.
lnod and compared by tho Auditor, with
the bonds and coupons 80 cancelled, and
II found correct, he shall mark, or encleso
the same f" cancelled" upon the register
thereof, In his Office.
SEC. 10, That the faith of tho State IL
hereby pledged for the prompt payment
OF the installments OF interest on the
bonds TO be issued in pursuance Of this
act, In tho manner, and at the time and
place designated for the payment there.
OF, and also to provide and set apart such