Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-09
"--, Secretary of State"
THE RATES AT WHICH THE BONDS ARE TO
RE REFUNDED.


Sec 10. Be 1t further enacted, That all of the
bonds described in section 2 OF this act and au.
thorized by its provisions TO be funded, which do
are not embraced in the provisions of the third,
fourth, fifth. sixth and seventh sections of this
act shall be funded into new bonds at the rate of
fifty per cent OF the principal and Interest thereof
and the Funding Board herein provided for, upon
the surrender of such bonds with all the unma-
tuned coupons thereon shall issue to the holders
thereof new bonds of the State of Tennessee at
the rate and for the amount of fifty per cent. of
the principal of such bonds so surrendered and
fifty per cent. of the unpaid and matured cou-
pons belonging thereto, including those which
tbe1eafter and if any Of said bonds have become
due prior to January l, 1888, interest shall be
computed and allowed from the maturity of the
thereto were attached, but no inter
est shall be allowed on any coupons:
81 bonds nave See ss1ra uGer ne iuine aet
of 1882 for any OF the bonds authorized to be
funded under this section, and which are not
fundable udder other provisions of this act, the
Funding Board shall issue to the holders of such
the surrender of the bond or bonds together, with
all the unmatured coupons thereon, new coupon
bonds of the State of Tennessee at the rate and for
the amount of eightythree and one-third per cent.
of the principal of the bonds so surrendered,
to equalize the holders thereof with the other
holders OF this class of bonds, but no coupons at
tached to any of the bonds issued under the fund
lug act of 1882 shall be funded, nor shall any new
bonds be issued therefor.
Sec IL BE il further enacted, That the bonds au-
thorized to be issued under the tenth section of
this act shall bear date January and shall be
payable thirty years after date, at the Office OF the
treasurer of the State, at Nashville, Tenn and be
Iedeemable at the option OF the state after seven
years from their date and they shall bear interest
at the rate of three per cent. per annum, evil
denced by coupons attached, payable semi-annu-
ally the first days of January and July of each
and every year beginning July l. 1885, in the city
of Nashville or the city of New York.
THE FACE OF THE COMPROMISE BOND.
Sec. u. Be ii further enacted, That the bonds
thorized to be issued under the provisions of sec
ton 10 OF this act shall be substantially in the
following form, namely;
know all men by these presents: That the
State OF Tennessee hereby promises TO pay to the
fee of the treasurer of the State of Tennessee, in
Nashville, Tenn, the sum of - dollars, in law
full money of the United States of America, with
interest from date at the rate of three per cent.
per annum, payable semi annually ON the first
days of January and July III each and every year.
the coupons herhio attached. But this bond may
be redeemed by the state after the expiration of
seven years from this date, by paying the princi-
pal and accrued interest, and for the payment
hereof the faith ana honor of the State are
pledged.
This bond and the coupons attached are issued
under and in pursuance OF the act OF the General
Assembly of the State of Tennessee entitled, An
Act to settle the bonded Indebtedness of the STATE
of Tennessee approved the = day of - 1885,
''In witness whereof. 1, William B. Bate, COVER
nor of the State of Tennessee have hereunto
signed my name officially, and caused the same
to be count .rsigned by the secretary of state
and also the great seal of the State to be affixed.
Done at the executive department of the State,
in Nashville in the State OF Tennessee, this, the
first day OF January, 1888.
'----. Governor