Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1879-02-14

fore provided, at least eight millions of
dollars Of the outstanding oDllgatlohs OF
the State, on or before the ISL DAY OF
January, 1880. And during each period
of six months from and after the ISL OF
January, 1880, they may present an ad-
ditional amount of at least five millions OF
dollars, until the whole debt is funded; out
any excess yer said amounts. which may
be presented during any Of said periods
may be estimated in the requirement. Tor
the succeeding six months.
THE E EXCLUSIVE PRIVILEGE, BUT AFUND
ING OFFICE TO BE OPENED ALSO
AT RICHMOND.
So long as the said corporations shall
present for funding the obligations afore-
said, in the amounts and in the periods
aforesaid, they shall have the exclusive
| privilege of funding the outstanding debt
under the provisions OF this act; provided
| that the said corporations shall arrange to
receive the outstanding bonds at the city
OF Richmond, when the holders thereof
shall so desire.
But if the said corporations shall fail to
! file with the Governor their assent and
agreement as aforesaid by the LIST day Of
April, 1879, or shall fail to present for
funding the outstanding bonds in the pro-
| Dor lions and amounts and during the peri
DDS hereinl efore specified, then the Cover
or MAY, in his discretion, make a like
| contract with responsible parties for the
funding ofthe debt of the State under this
act.
g. The rules prescribed under the Act
approved March 30th, 1871, in respect to
preparing. signing and issuing the new
bonds and coupons, regulating the same,
and in taking in, cancelIing and register
ing the old bonds, shall be observed by the
officers Of the Treasury in the execution of
this Act, except so far as the same be mod
fled by the provisions of this Act, provi-
ded that all Bonds and certificates which
may be necessary to be printed shall be
printed froma plate which shall be the
property OF the Commonwealth, and shall
remain in the keeping. OF under the control
of, the Second Auditor.
THE PEELER BONDS.
Z. The owner of all classes of Bonds
mentioned in this Act, who shall exchange
their securities for the Bonds created un-
der this Act, and who shall not have yet
received certificates representing the re-
naming one-third of their principal and
interest due and payable by the State OF
| cho11 M
like character to those issued under the
Act of March Both, 1871, when they make
such exchange; and the State of Virginia
will negotiate, or aid the creditors holding
all of such certificates issued under this
Act, or previous Acts, in negotiating
with the State of West Virginia for an
amicable settlement of the claims of such
creditors against the State of West Vir-
ginia.
PROMPT PAYMENT.
8. The General Assembly will, by neces-
sary and appropriate legislation, provide
TOT the prompt payment Of the interest on
the bonds issued under this act.
A'sINKING FUND ESTABLISHED.
8. In the year 1885, and annually there
after until all the Bonds issued under and
by authority of this Act are paid, there
shall be levied and collected the same as
and together with other taxes, tax OF
Two cents on the 100 dollars of the assessed
valuation of all the property, personal real
and mixed, in the State, which shall be
paid into the Treasury of the State to the
/ Of h0 Sir1,i ho
urec., the Auditor of Public Accounts and
Second Auditor are hereby appointed Com
missioners of the Sinking Fund, and shall
have Ia majority acting) the control and
management thereof, ard shall annually
or oftener, apply whatever sum or sums
may be to the credit of the Sinking Fund
to the purchase and redemption of Bonds
issued under this Act.
CANCELLING THE FUNDED BONDS. :
All the certificates Of debt which shall
be funded, redeemed, or purchased under
his Act shall be cancelled by the Second
Auditor, and delivered by him to the
Treasurer of the Commonwealth, at the
lime of payment therefor, who shall care
fully preserve the same in his office. AL
certificates of debt acquired under the
operation of the Sinking Fund, created by
the Act of March Both, 1871, shall also be
80 cancelled and delivered.
THE BONDS A LAWFUL INVESTMENT.
10. Executors, administrators and others
acting as fiduciaries may invest in the
bonds issued under this act, and the same
i II f,,1
WHEN THE INTEREST IS To BE PAID.
IL, The Treasurer STALL. upon the first
days of July, 1879, and January, 1880, and
upon the same days in each year pay or
cause to be paid to the holders thereof the
half yearly interest then due upon each of
the Bonds of the Commonwealth, issued
under this act.
IL. The act approved March 14th, 1873,
and all acts Inconsistent with the pro-
visions of this act are hereby repealed.
IL. This act shall be in force from its
passage. ST
The WEATHER FOR 1879.-Richard
Mansill's 'sAlmanac Of Planetary Meteor
ulogy'' for 1879 has the following: If the
positions of the planets affect the tempera-
ture of the earth's atmosphere during the
year 1879, as they have when in similar po-
sitions during the past years, particularly
the positions that gave us the mild Winter
OF 1S77-'7s and early Spring of 1861 we
may expect very cratic seasons during
1879. Agreeable to the theory, we shall
nave cool weather set in early in the Au-
tumn of 1878; it will grow cool somewhat
faster than the mean of the season in No
vember and December, with temperature
below the mean; Winter will continue
through February, followed by a cold