The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-12

.,eb old bonds mp to LIST day of July, l5' !,
sue sue, o oort;Gcates to he paid aud retired as
/ hereinafter provided. g ~ iii ond
! "'.,,,ao or the new bonds and interest
aor u,;,nates as provided in the first section oil
u;s oct there shall be issued to the owner or
n',.rors thereof. for the remaining one-thira
Juc mon the old bonds or certificates OF III
Jnh,ndness. certificates bearing the same dalc
nr tbc new bonds, setting forth the amount
If the old bonds not funded as provided III
tho first section of this act, such ccrtilciie
| TO bear the same rate Of interest as the new
bond. There shall also be issued noii-i''-
,crcst bearing certificate, of like date LOT tllc
remaining one-third of the interest llot pio-
v;dcd for in the first section OF TINS ac', IliI
| state of VIRGINIA, however. not 10 NC no''i'o
for tho naymcnt of either class OF ccrtiiic'tcs
nro,;,lrd for in this section except 80 ii,i
,s sIn NAV receive moneys or other ;iv'liitolc
assn,s in :, settlement with West Virginia,
mid /, the State of Virginia for that pul-
pose. Iord ;rtcrcst
dine upon such bonds as have bech i.lilucu
un,lrr fine provisions of the ACT appfoNcu
W,,,ch 70 1871. is so blended thai II Is no"
i",no..ih,r to determine with any degree OF
,nI,,r,rv what part thereof is principal ana
what 1rirt is interest, such honus sil'.l III
| considered and recognized rs beilS wv
thirds principal and oncthird interest," anu u
mon all bonds so funded the holders Siiall
| hr entitled TO receive such interest It's i
stimulated in such bonds on two-thlrdS lhcre-
Of fine remaining one-tllrd 10 sEil'u upon
the same footing as the interest ccitilic1'e'
provided for in the first section OF tilis ac'.
81. Upon all Understanding bonus 10
funded under the first section oil tlilS ac,'
y, well as the two-tllirdS or inc noilos
funded under the act of March JUN, loi aS
,,ritcd in the third section Of tins ac', 'hcre
shall he paid in selni-ann,al Installnrlls, coih-
meucinr the lst day OF january, 49,, Tue
full amount of interest duc thereon, SUCH
| pavmcnt TO continue from year to year pro-
yidcd it, eau be done without abSorhlilS l''ll'ts
| ,hnt .,r,. NECESSARY TO curry on the State Co
ycrumc,lt, or without IN llndue increase OIL
taxation. .,,u
8. ! From and after tic year 1873 there shall
no levied and collected, rs same rs other
1,xcs. 1,pon all the property OF the state Il
t,y az two CENTS upon the one hundred dot
lars. worth of property. which shall be raised
| Inv the Treasurer, together with any surplus
| money That NAV he in the Treasury over and
| above what is found necessary to pay the cur
rent cypcnscs of the State Government and
w,y the interest on the public deht Is herein
| provided, in purchasing III open harkc' the
nnu-inic;rSt bearing certificates provided Tor
in fine first and third sections OF this act,
S,,ch certificates to be cancelled and flee
awav bv the Treasurer; the special tax pro
ydcd in this section shall cease Wien all
| such certificates have been retired.
wG. From and aitcrt the year 1850 there shall
| he levied and collected together with other
taxes upon all the taxable property OF the
| state three cents upon tic one hundred uoi-
| lars worth of property, TO be paid into the
sinking fund, to be used by the commissions
crs thereof in paying or purchasing and re-
tirur the Understanding bonds OF the State
| AS herein required.
-. All assets realized upon the claims Of
the State against Scldcn, Withcrs 4 Co.. and
all other assets arising from the sale OF the
States interest in any Improvement company,
or any other source, which interest WAS
owned bv the State before tic State of West
| Vireiui. was formed, shall be applied and
| disposed of as follows: Onc-thrd to the re-
dclnption of the certificate Of indebtedness
set almrt to be paid by West Virginia and
two-thirds to be paid into the sinking fund,
| 10 be used by the commissioners thereof in
the liquidation of the debt OF the state, lis re-
cognizcd by this act.
"S. No person or persons now or fcr'ailcr
authorized to collect taxes or othcr dues Of
| this State shall be allowed to receive III pay
| mcnt thereof any coupons issued by author
| ty of the act OF March 81, 1871, or any other
| act.
80. All acts or parts OF acts inconsistent
with the provisions Of this ncl are hereby re-
pcalcd.
40. This act shall he i'll force from il pas
sage
BILLS, &C., PRESENTED AND REFERRED.
By Mr. TIuBaLL: Resolution Of citizens of
| Winchester fnrunamll!l session OF tie Court
of Appeals nj that place.
BY llr. BROOKE: Resolution as to cNpcdi-
cncy of amending the rules 80 as 10 allow Il
member making motion to suspend the
rules one minute to explain his motion.
By Mr.. SorTuALL: Bill to authorize dis
trirt school trustees 10 borrow money.
Ky Mr.. SMITH: Bill TO incorporated the Pied
incnt Wine Company, OF Nelson county.
BY Mr. PAYNE: Bill 10 amend the public
free school law. and Il resolution us to cNpe-
dicucy OF amending the law i'll relation to the
fees Of shcrills and pay of jurors.
Adjourned.