Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1880-02-18

cording 10 the tenor OF annexed cou-
pons-in the case ofcoupOn bonds. In
| testimony whereof, witness the sigma
ture of the Treasurer and the counter
signature of the Second Auditor hcreuG-
to affixed according to law.
1. The form Of coupon for coupon
bonds shall be as follOws-to'wlt
No.-(of bond). 49,,
The COMMONWEALTH Of Virginia Will
nav TO bearer - dollars in lawful
money Of the United States.at the eihcc
of the Treasurer, Richmond, va or
the first day of January and July alter
nately, the frs: coupon to be payable
January l, 1850.
= -------, Treasurer.
Each coupon 10 be impressed on the
back with its number, in the order OF
maturity, from one forward.
). The said Board Of Commissioners
are authorized to issue such bonds IL
denominations Of ore hundred, five hun
dred and one thousand dollars, as may
be necessary to carry ont the provisions
of this act. each denomination to be OF
different TINT: provided that registered
bonds may be issued OF any denomlna-
ion multiple OF one hun Gred, and all
registered bonds 10 be OF the same tint;
and they are authorized to issue such
bonds, registered or coupon, in eX-
change for the outstanding obligations
of the State hereinbefore enumerated
including the bonds held by the Literary
Fund. as follows-that is TO say:
(o) For the principal Of all bonds or
other evidence Of debt embraced in Glass
A. at the rate OF SO per cent.-that IS 10
say $50 of the bonds authorized under
this act principal and accrued interest
from the preceding period ofmaturity to
the date of exchange at par) are to DO
given for every 500 face (principal and
accrued intereot from the preceding
seml-annual period Of maturity to the
date of exchange) OF such indebtedness,
and for any interest which may be past
due and unpaid upon such Indebtedness
| funded bonds issued under this act may
be given dollar for dollar.
(b) For the principal of all bonds or
other evidences Of debt embraced IN
Class II, at the rate OF G63 per cent
that is to say s66.663 Of the bonds au-
thorized by this act principal and ac'
cured interest from the preceding
period OF maturity to the date OF eA-
| change at par are to be gwen for every
500 face Of the principal otsuch lndcDt-
edness.
(c) For two-thirds Of the interest
past due and unpaid upon the unlunded
| debt, including the sterling bonds since
July l, 1871, and for all other past-due
and unpaid interest upon other bonds
and evidences of debt embraced ID
Class II, to the date OF exchange. at the
rate of COL per cent.-that IS 10 say ior
every Sl00 OF such lnteres; so computed
$50 Of the bonds issued under this act
(principal and accrued interest from the
preceding period OF maturity to the date
Of exchange at par) are to be gwen.
6. For the one-thlrd OF the untunded
debt, including the sterlingbonds COM
puted as of the lst OF July, 1871; the
said Board of Sinking Fund Commits
elOHGI0 SlldlA l>cOC ~ vi AAL-SNNN'
8. All the bonds and certificates OF
debt and evidences Of past-due and uA-
paid interest taken in under the proyl-
sions of this act shall be cancelled by
4 the Treasurer in the presence OF the
Board of Commissioners Of the Sinking
Fund as the same are acquired by the
Treasurer, and the same shall be care
Il fully preserved until such time as the
General Assembly may otherwlre d.
lrect; a schedule OF the bonds, cerlih-
Gates, and other evidences OF debt SO
cancelled from time TO time shall be
certified by said Boald and filed with
the Treasurer for preservation.
9. All the coupons aud registered
bonds and fractional certificates issued
under this act shall be separately regis
tered by the Second Auditor in books
kept for the special purpose. in each
case giving the date, number and
amount OF the Obligations issued, and
the name Of the person Or corporation
to whom issued, and the date, number
aud amount, and description OF the
bond, bonds, 0: Indebtedness surrender
ed.
| 10. The plates from whiYh the bonds
p and tracuOna! certificates authorized by
this ect are printed saaA he tie proper
~ OF the Commonwealth, aud shall re-
man in tie keeping Oh tue sad Board
OF commissioners OF the Sinking, Fund.
ii. Iu the year 1890, AID annually
thereafter unit. ali the bonds issued un-
der and By authority Ci this act arc
paid, there shall bc separately levied
and collected as other taxes are COL
llecied u TAX OF tNO cents Oh the 500 VI
the assessed value OF al property 10
Il the Stat. subject 10 taxation, Tor Other
purposes, winch shall be paid into the
Treasury to the credit OF the Sinking
Fund; and the Commissioners OF the
said Sinking Fund shall annually, Oh
oitener, apply The same TO the redemp-
| ton or purchase (ata rate not above
par) of the bonds issued under this act,
and the bonds SO redeemed shall BE-
cancelled by the said Board, and the
same registered by the Second Auditor
in a book to be kept Tor the purpose,
giving the number, the date Of issue,
q the character. the amount, and the
Il owner at the time OF purchase OF the
bonds SO redeemed aud cancelled.
| IL. Executors, administrators, and
others acting as iiduciaries, may invest
1 in the bonds issued under this act when
so authorized by the county, corpora
ton or circuit court, TO which such ex-
ecutor, administration, or other hdu-
ciary is accountable Tor the trust sub
Iiect. and the same, when 50 made,
shall be considered lawful invest
usnt.
Is. That the semi.annual interest as
| it may become due and payable upon
the bonds issued under this act may be
promptly and regularly met one-thrd
| of the net revenue, collected from the
levy on all property personal, real
and income), aud one.half Of the net
revenue collected from licenses, shall
be separately collected and paid into
the Treasury to the credit of the public
debt, and the same applied to the pay
msnt Of the interest thereon; provided