Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1880-02-17

S:astlsF -ztsssss sst
! corporation 10 whom it was issued ana
as such certificates are refunded the same
| shall be cancelled and preserved as here
in provided in respect to other obliga-
tions refunded
s. All the bonds and certificates of
debt and evidences of past due and tlh-
mid interest taken in under the proyi-
/ sions of this act shall be cancelled by the
Treasurer in the presence of the Board
of Commissioners OF the Sinking Fund as
the same are acquired by the Treas, and
the same shall ybe carefully preserved
until such time as the General Assembly
may otherwise direct; schedule of the
bonds, certificates, and other evidences
of debt so cancelled from time to time
Shall be certified by said Board and filed
with the Treasurer for preservation.
0. All the coupons and registered
bonds and fractional certificates issued
under this act shall be separately regis
tered by the Second Auditor in books
kept for the specific purpose, in each
case giving the date, number and amount
Of the obligations Issued, and the name
of the per SON or corporation to whom
issued, and the date, number and
amount, and description Of the bond,
bonds, or Indebtedness surrendered.
| TO-. The plates from which the bonds
aud fractional certificates authorized by
this act are printed shall be the property
of the Commonwealth, and shall remain
! IN the keeping of the said Board of Com
mssioners of the Sinking Fund.
| II. In the year 1890, and annually
thereafter until all the bonds Issued un-
der and by authority of this act are paid,
| there shall be separately levied and coll
lectcd as other taxes are collected tax
of tive cents on the 800 of the assessed
value of all property in the State subject
to taxation, for other purposes, which
shall be paid into the Treasury TO the
credit of the Sinking Fund; and the
Commissioners of the said Sinking Fund
shall annually, or oftcncr, apply the
same to the redemption or purchase (at
a rate not above par) Of the bonds issued
under this act, and the bonds so rcdeem-
. cd shall he cancelled by the said Board,
and the same registered by the Second
!; Auditor in q book TO be kept for the pur-
pose, giving the number, the date of is
> sue, the character, the amount, and the
, ownera the time ofpurchsse ofthe bonds
: so redeemed and cancelled. ..-
, l2 Executors, administrators, and
Others acting as fiduciuries, may invest
? in The bonds issued under this act when
: so authorized by the county, corporation
} or circuit court, to which such executor,
! administrator, or other tlduciary Ia ac-
conntablr for the trust subject and the
: Same when so made, shall be considered
9 lawful investment. N 'II'|.
13 That the scmi-annua interest as II
Z may become due and payable upon the
: bonds issued under This act may he
, promptly and regularly met onc-third
t the net revenue collected from the levy
: ON all property (pcrsona, real ana IN
: come and onc-hilfof the upt rcycnuc
cole ted from license, shah be separate
+ " collected and paid into the Treasury
! to the credit Of the public debt, and the
% same applied to the payment of the In
e. tercst thereon; provided that the Legis-
: lature may at the end Of every succeed
i ing two years from the LIST Of January
{ 1882, as to the credit Of the Sinking
c Fund. such balance Ms may then stand
10 the credit of that account over ant
i above any interest which may then re
II main due and unpaid upon the bonds H.
Q sued under this act, such balance 81
c translyYefto be employed by the saiC
Is Cohimissioners of the Sinking Fund II
Is the redemption Of the said bonds, as pro
e yldcd IN the 18th section Of this act.
y II The several tax collectors Of thi
If Commonwealth shall receive In discharg
i of the taxes, license taxes, and other dues
= gold, silver, United States Trcosur.
If notes, national bank currency, and IN
temporary-loan certificates MS hercinni
ID ter provided, and nothing else: provide
L thar In all cases In which an office
ID charged by law with the collection q
l. revenue due the State shall take an
i step for the collection of the same, claim
cd to be due from any citizen or taxpny
cr puch person against whom s,gh ste
vs. ~ taken, if he oonceiyes the same to b
10 unjust or Illegal, or against any statue
" or to he unconstitutional, may pay VI
n same under protest, and upon such pay
y mcnt the officer collecting the same sha
1c pay such revenue into the State Trcasl
Sc ry, giving notice 1T the time Of such pay
ment to the Treasurer that the same WI
VI paid under protest. The person
paying such revenue may, at amy tin
within thirty days after making sue
re payment, and not longer thereafter, =,
val the said officer collecting such rcvenl
~ In the county or corporation court
DE which such revenue was assessed NJ
paid. lf-itBe determined that the san
was wrongn,lly collected, for any reast
~ going to the merits of the same, then q
Ter court trying The ease may certify of re
at ord that tho same was wrongfully pll
M .t ,,a..t,t o., Az, ..e,,,,,lo,f a,,d fhofNt