The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1880-10-13


see, That the GsvsrRor Of the State shall |
have prepared fer issuance bonds Of the
State in denomination Of one thousand |
dollars each, payable at thirty years !
frem the first day Of July, 1880, with |
interest at the rate Of six per cent. per
annum. The interest coupons of said
bends for the first two years shall be for
the sum OF $50 payable annually en- the
1st day Of July, 1882 and 1888, the re-
manning coupons fer $50 each, being
payable semi-annually en- the 1st day Of
January and on the LIST day of July in
each aud every year thereafter, and all
payable, principal aad interest, ia the
city of New York. The amount Of said
bonds shall in no case in the aggregate
exceed the amount Of five millions Of
dollars.
SECTION Q. Be it further enacted, That
the Comptroller of the State shall on
the first day of July, 1881, and for ten
days thereafter, in the city Of New York,
Cafter advertising his purpose SO to do
in enc or more Of the daily papers pub.
Iishcd in said city, exchange said bonds
for the outstanding bonds of tho State,
with any of the bona tide holders Of said
outstanding bonds desiring to make such
exchange.
SECTION 8. Be it further enacted,
That the Comptroller, on the delivery to
him by the holders thereof Of two Of the
old bonds of the State, each for the sum
of one thousand dollars, and each hav-
ing to them attached all past due and
unpaid interest coupons up to and in
GLIDING the coupons payable on the
list day of July, 1881, shall deliver to
the holder 50 surrendering said cid bonds
one Of the bends for $1,000, herein pre-
vided to be issued, together with the
| coupons as herein provided.
SECTION A. Be it further enacted
That upon receiving said old bonds, The
Comptroller shall cancel the same, frs
endorsing on the same the date OF sur
render, the name Of the person surrend
ering, and the number and other requi
sites of Identification of the new bond
issued in its room and stead. He shall
likewise, over his own signature, ente
upon the new bond statement preperl.
and sufficiently identifying the ED bond
surrendered therefor, and shall in add
ton, in bound book, keep full recor
of cancellation and issuance Of sue
bonds respectively.
SECTION 3. BE it further enacted, Ths
the Comptroller shall retain the bond
&c received and cancelled by him an
deliver the same to the Governor on Q
before the 1st day of August, 1884, tax
ing his receipt fer the same.
: SECTION s. Be it further enacted
That in making the exchanges contem
, plated and herein provided for the Conn
treller strictly conhne himself in I'll
order Of issuance Of the new bonds I
, the order of priority in which the ol
7 bonds may be offered him for surrend,
: during the period provided fer such su
. render
SECTION z. Be it further enacted, Thu
as a provision for the payment Of Ii
interest upon the bonds herein provide
e to be issued a separate and specific ia
f upon the property IN the State liable
q taxation, recognizing all present exemI
O ton, of five cents en- every one hundre
. dollars wsrth Of property is hereby lei
and levied for the years 1881 and 1873
I and the fund arising from this levy sha
|, be specifically set apart by the Com
b treller and devoted only to such pa
men.
SECTION s. BE 1t further enacte
That the expense Of engraving and prin
ing the bonds herein provided for, NJ
q to exceed -- dollars, shall be PAL
e by the Treasurer on the order of Il
|, Governor, couutersigned by the com
troller.
SECTION 0. Be it further enacted, Tht
the Secretary Of State, on the warral
u of the Comptroller, shall receive Il
r sum of twenty-five cents fer att estil
a the signature of the Governor and {
taching the seal of State to each Dol
issued under this act.
SECTION 10. Be it further eHscte
- That the Comptroller, on the warrant
q the Governor, shall receive from &
e treasury fifty cents on each and eve
q bond issued under this act and fer Pc
. forming all acts required Of him in rel
ton thereto, including the signing
the coupons, which may be done by
engraved stamp, to be delivered up
t. the Governor and cancelled by hir
8, The Comptroller shall be likewise in Il
h same manner entitled to receive the su
- Of twenty-five cents for bis services
: receiving and endorsing and cancellir
- each old bond by him received und
1t this act and for keeping the record
t. his transactions as herein required.
d shall likewise receive in the same ma
ner his actual travelling expenses, TO
audited by the Governor, in going
. and returning from New York, sing
IS trip, and the sum of fifty dollars for q
d other expenses, whatever by his stay
,r said city.
i, SECTION II. Be 1t further enacted
That this act shall take effect from
passage, the public good requiring it.