The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-01-19

fare-notably in respect of the human institu
tons, now inadequate to the proper accom-
mediation of that unfortunate class of every
pOpulation-do not warrant the assumption OF
a larger rate of interest than - upon the
| full amount of Virginias equitable share OF
the debt Of the old and entire State, as the
same is ascertaned and now formally declared
| by the foregoing account-tberefore,
/. Be at endcted BIZ tie General assembly Of
! Vrysni0, That the Board of Commissioner OF
the Sinking Fund of the State be, and they
are hereby empowered and directed to create
bonds, registered and coupon, TO such extent
as may be necessary to comply with the pro-
visions of this act.
| 2. The said bonds shall be dated July
1882, and payable at the office Of the Treasur
er of the State on the 1st day of July, 1882 :
Provided that the State may at any time and
from time to time after July /, 1900 redeem
any part of the same principal and interest at
par. In case of such redemption before ma
| turity the bonds TO be paid shall be determined
by lot by said Board of Commissioners; and
notice OF bonds so selected to be paid shall he
gwen in newspaper published at Richmond,
New York, and London, England when in
terest from and after ninety days from the date
OF such publication in London shall cease up
on the bonds SO designated to be paid.
j. The form of the bond shall be as follows
-tS-wit:
'rhe Commonwealth of Virginia acknowledges
herself indebted to (in the case of cou-
tered bond inserting the name of the person
porat1on) In the sum of dollars, which she
promises TO pay in lawful money of the United
States, at the office of the Treasurer of the State,
Richmond, Fa the 1st day of July, 1882 with the
option OF payment at par-princpal aud interest
before maturity at any time after July 1st 1900 aud
interest at the Office of the Treasurer the State
In such lawful money, on the first days of January
ana July, at the rate of - - per annum until
paid according to the tenor of the annexed cou-
pons-in the case of coupon bonds.l
I'm testimony thereof witness the signature of
the Treasurer and the counter signature of the
Second Auditor, hereto affixed according to law.
4. The form OF the coupon for coupon bonds
shall be as follows to-wit:
'sNo. - (of bond).
'The Commonwealth of Virginia will pay to bear
or - dollars In lawful money of the United
States, at the office of the Treasurer, Richmond, Va
on the first day Of January and July, alternately
the first coupon to be payable January LIST, 1883.
Each coupon to be Impressed on the back
with its number in the order of maturity
from zone" forward
5. The said Boa rd of Commissioners are au-
thorized to issue such bonds in denominations
of 500, $500 and 81 900, as may be necessary
to carry out the provisions of this act; each
denomination to be of different tint: Provided
that registered bonds may be issued OF any de-
nomination. multiple of one hundred-all reg
istered bonds TO be of the same finland thew
are authorized to issue such bonds, registered
or coupon, in exchange for the outstanding
obligations of the State hereinbefore enumer-
ated, including the bonds held by the literary
fund, as folows-that is to say:
(a) For her equitable share OF Glass "a" at
the rate of 80 per cent-that is to say, 1858 of
the bonds authorized under this act (principal
and accrued interest at par from the proceed
ing period of maturity to the date of exchange
are to be given for every 500, face, principal,
and accrued interest, from the preceding
semi 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 her equitable share of Glass "B' at
the rate of so per cent, reckoning and account
ing for.any interest as provided in the case of
Class "a"
(c) For her equitable share of Glass &c" at |
the rate of SO per cent, reckoning any interest |
as in the case OF Glasses ga" and B, account
ing tor the same as in Glass ID"
I'D For her equitable share Of Glass I'D" at
the rate of 80 per cent
(e) For her equitable share of Glass "E" at
the rate of SO per cent, reckoning any interest
at the date of exchange as in the case of
Glasses "a" 3D." and &C" and accounting
for the same as in Glass "F"
IL For her equitable share of Glass "F'' at
the rate OF Us per cent.
(g) For her equitable share of the bonds of
''1s literary funds as in the case Of Glass 'C'
her equltable slIare ofthe arrearoEcr- of ii,
telest, $3.50 go, to be paid in money.
8. For all balances of such Indebtedness, con
shutting West Virgina's share of the old debt
principal and interest, in the settlement of
Virginia's equitable share as aforesaid, the
said Board OF Sinking Find Commissioners
shall issue a certificate, as follows:
SThe Commonwealth of Virginia has this day
discharged her equitable share of the registered
coupon, as the case may be) bond for - dollars,
held by -, dated the ID day of - and
numbered -, leaving balance of -- dollars,
with interest from -, to be accounted for by the
State of West Virginia without recourse upon this
Commonwealth.
Done at the Capital Of the State OF Virginia this
day of -, 1S-.