Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-04-16
rHP BILL

NANANEH NAAa
saw School Fond, snd 10 aid IN
meeting tie necessary expenses
Of the State Government.
Section l. Be It enacted by the
Legislature Of the State Of MIS-
,is.ippi, That for the purpose
Of funding or paying of the war;
rants OF the Auditor Of Public Ac-
counts, drawn on the Treasurer OF
state Of a date subsequent 70 The
/ 18th day of October, a. D.. 1850,
and which are still outstanding,
and for paying the interest on the
Chickasaw School Fund, aud 10 aid
in meeting the necessary expenses
of the State government not other
wise provided for by Jaw IL shall
be lawful for the Auditor OF Public
Accounts, and the Treasurer OF
! State aud they are hereby author
lied and required 10 execute Oonds
Of the State with their oticiGI sig-
natures attached thereto, o6llgl'ing
the state ior the pa! ment OF one
million OF dollars in sums no; less
than fifty dollars, nor more than
one thousand dollars in any one
bond, payable with interest coupon
attached IT the rae Of eight per
cent. per anuum. aud payable semi
annually in the city Of New \ orE.
each coupon TO ue signed bv tie
Auditor Of Pu0HC Accounts only,
aul said principal sum OF one mil
Ion Of dollar., shall he divided
into five di-tinc. classes OF bonds Of
TWO hundred thousand dollars each.
The first class to become due and
payable intwo years. The second
cas- ~ become due lid payable in
three ears. The ihira c.Ass 10 be-
come due and payable in four years.
The fourth cia., TO become due and
payable In live years. aud the liitA
class 20 become due and payable in
siX wears, aad al 10 be dated.,he
first day OF july, y. u. 1870.
Sec Be it !ur!hor enacted, Tint
for tic purpose Of enabling ~"
stare 70 pay the principal and IN
;crc,t oil iIc bonds to " Issued. a.
provided Tor in section ! Of 'Ii>
act. it = M be Lawful! Tor the A.i!.
tor If Public Accounts, and he j.
hereby authorized aud instructed TO
levy on the taxable properly OF The
state anuualy, for five YEAR, be-
ginning with the year 1870, especial
tax in addition to any tax he !, now
Or may hereafter Ge authorized 10
.cvy tor any purpose whatever, on
such taxable property, asum equa.
20 the principal ana interest OF any
one class OF bonds, authorized TO Oe
issued by this act, providing IN
each levy for the sun that viii be-
come due OH such bonds, with the
Interest thereon, in The order OF
time in which they are 70 mature
AVID become due anl payAO.e; and
he ) further authorized and liz
s;rUc;ed 10 have spch tax collected
al he time, 10 ;hc way, and by the
oil CT vi the respective counties, as
( Other taxes are collected anu ac-
coua.ed for 10 the State; aud the
:aid Auditor of Public Accounts,
ana the Treasurer OF the State, are
hereby authorized 10 keep all
moneys collected by such special
tax in separate accounts, aud as a
special fund TO De known as the
state Bond Fund" to he used a.
designated herein, and 10. no other
purpose.
Sec. 3. lie il further enacted, Tina,
it shall be the duty Oi the Treasurer
Of the State 20 pay such bonds, aud
the interest thereon Whenever the
same ,hs.i become due by The terms
thereof, out Of any money in the
state Treasury collected Iur that
purpose, as provided for in The pre-
ceding section Of this act.
sec. 4. De it further enacted,
Thatany holder Of any state war;
rant, Issued ny the Auditor OF
Public Account, since the 18th day
October, A. d., lSGj, shall have The
right 70 convert the same into the
bonds OF the State at par or face
value for said tonds OF either OF
the classes herein authorized 10 be
issued az any time within sixty
ia! 5 after the passage Of this ac;.
see. .. BE it further enacted,
That atter the expiration Of sixty
days, during which time the state
warrants may be converted INTO
bond, as provided Tor herein, it
shall be the duty OF tie Agent OF
State, who i TO he chosen, as pro-
vided forLereinafter, to proceed 10
negotiate and sell, for cash, all OF
the bonds remaining and not yet
pared with in paying oil aud TAX
ing up the outstanding warrants,
at such prices as he may be able to
obtain tor the same, IN OF out oflhe
State, at not less than eighty. five
cents on tie dollar, on the par .lue
Of the same, anl SUCH SAFE sha!! De
az legal and valid as Il made at par
on face value, and made within the
state.
Sec q. 81 it further enacted,
That il shall be The ,uty Of said
Agent Of state 10 Aa2. Tie bonds
provided 70 be issued by this act.
drawu up and properly printed
and present them Tor the signatures
OF the officers oi the State, named
in this act. and wacn executed &c
shall take charge Of them, and take
up with them so many OF the war.
rants as may be presented within
the time specified Tor that purpose,
aud then proceed to negotiate the
sale Of the remainder Of said bonds.
for cash, rs provided for in section
) Of this act and use the proceed,
thereof in paying OIL any remain.
der OF seia warrants, that may still