The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1871-03-17
Bill for the Distribution Of the
Sinking Fund.

an act TO provide for the custody and
management of the notes, bonds, ana
mortgages arising directly out OF loans
heretofore made by the Board OF Sink
ing Fund Commissioners, to continue IN
force all laws or parts of laws in force
on the goth day OF January, 1867, which
are applicable TO said loans aud the Sc
curitics therefor; to clothe the Auditor
Of State with powers and subject him 10
the duties in relation to said loans and
securities therefore which, by said laws.
arc vested in or imposed upon said
Board of Sinking Commissioners, to
provide for the incidental expenses of
The management of said loans and Sc
curities. Including clerk hire, and for the
modes and payment Of such allowances
for expenses. substituting the seal OF the
Auditor of State for that of the Board
Of Sinking Fund Commissioners and
declaring an emergency for the iminedi-
Ate taking effect of this act, and provi-
ding for the Auditor Of State to execute
bond and payment of all moneys into
the State Treasury, and adding supple
mcntary sections thereto.
SECTION /. BE it enacted by the Gen.
Icral Assembly of the State of Indiana.
lT'hat section six Of the foregoing enti-
tiled act be amended to read as follows: !:
: "All moneys received by the Auditor
Under this act or under any of the acts
Hereby continued in force or belonging
lfo said Sinking Fund, shall. when the
l same amounts to $4,000 or more, forth
with notify the Secretary and Treasurer
of State Of the amount Of said fund i'll
, his hands, and the said Auditor. Sccre-
-ltarv. and Treasurer shall Immediately
!. nrocecd to distribute among the differ
!. ent counties of the State in proportion
Ito the number Of inhabitants in sucl
lcounty according to the late census, and
: In making such distribution among Tho
: several counties the said Board OF Sink
2 inc Fund Commissioners shall motif!
: the County Auditor of such county ol
counties as may be. entitled 10 such dis
ltribution. shares, or parts. from tImc tt
i time of the amount 50 ready for distrl
IS button. and thercupon the said count!
! Auditor shall draw his warrant in favO
: of his respective County Treasurer OF
IT the Board Of Commissioners Of the Sink
), inc Fund. for such sum or sums as III
:. may have been notified is ready for dis
,ribution for such county. Such Treas
II ,,rcr shall present the same TO the Boart
a Of Commissioners of the Sinking Fund
who shall pay the same TO such count,
(! Treasurer
y Sec. 2. As fast as the said sinking
81 FIND shall come into The different count
: les Of the State. as provided by this ac
u the same shall be loaned out Th
County Auditor aud County Treasure
of the respective counties shall proccc
n. 10 loan out and invest in said funds
~ held in trust for common school ednc'
;c ton. by loaningthe same upon real c.
tate security, in the same manner, an
e subject to the same conditions, as IN
u other common school funds are nov
loaned by law ;providcd that the amour
of interest arising from the loans ma,'
,g under this act shall be disbursed by u
SO County Auditor and Treasurer witho'
IL diminution. ,,
err Sec. 3. All loans hereafter made u
{ s,iL Auditor and Treasurer shall DC
IL the rate of eight lS) per cent per III
mum. .;,
Sec. 4. Any officer who shall recci'
lie any bonus or interest Tor deposit ot o.
he part OF this fund. shall, upon convictic
nj hereof. be deemed guilty OF fclom
Grand shall forfeit his Office.