The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1883-02-15

together with the unpaid coupons
thereto attached, including the cou
poAs maturing the first day of July,
1888, whether said bonds are in the
form as first issued or as funded un-
der the acts of 1866, 1868 and 1873,
provided they can be traced to any
one of the aforesaid state debt
proper bonds, when first issued,
shall be funded into new coupon
bonds upon the following basis:
Such part of said state debt
proper, as now bears interest at the
rate of six per cent. per annum
shall be funded by adding to the
sum of the face of the ex ;sting
bond the matured interest thereon,
evidenced by the coupons thereto
attached, including the coupons
maturing the first day of July,
1883, and from the total sum of the
face of the bonds and matured in
terest thereon, evidenced by the
coupons attached, twenty-four per
cent. will be deducted and the re-
mainder funded in coupon bonds,
bearing interest at the rate of =
per cent. per annum. Such part of
said state debt proper as now
bears interest at the rate of five and
one-fourth per annum shall be
funded by adding to the sum of the
face of the existing bonds the ma
tured interest thereon, including the
caupons maturing the grst day of
July 1883, evidenced by the cou-
pOns thereto attached, and from
the total sum of the face of the
bonds and the accrued interest,
twenty-one per cent. will be de-
Quoted, and the remainder funded
with coupon bonds bearing inter
est at the rate - per cent. per an
mum. Such part of said state debt
proper as now bears interest at the
rate of five per cent. per annum
shall be fund by adding to the
sum of the face of the existing bond
the matured interest thereon includ-
ing the coupons maturing first
day of July, 1883, evidenced by the
coupons thereto attached, and from
the total sum of the face of the
bond, and the accrued interest
twenty per cent. will be Quoted, and
the remainder funded into coupons
bearing interest at the rate of -
per cent. per annum.
Provided, however, that none of
the bonds or parts of bonds here
tefore issued under the various
funding acts for matured coupons
shall be funded under this section
as state debt proper bonds, but the
same shall be funded at fifty cents
on the dollar, and three per. cent
interest, in the manner prescribed
in sections two of this act. Ana
provided further, the excess in one
class may make up the deficit in the
other.
Ante war railroad bonds. =. SIS, So, 900
Post war railroad bonds 263S, 900
Funded under the act of 1866 1926, 900
Funded under the act OF 1868 $4,000
Funded under the act of 1873 1861, 900
Together with the accrued interest
thereon evidenced by the matured
coupons thereto attached, including
the coupons maturing July 1, 1888,
less the state debt proper bonds
funded under the acts of 1866,
1868 and 1873 and funded under
section l, of this act as part of
the state debt proper, be funded
with coupon bonds upon the follow
ing basis: To the sum Of the face
of each existing bond will be added
the matured interest thereon, in
Guiding the coupons maturing the
LIST day of July, 1888, evidenced by
the coupons thereto attached, and
ene-half of the total sum of each
bond and matured interest to be
funded with coupon bonds, and
said bonds to bear interest at the
rate of three per cent. per annum.
Sec. 2. Be it further enacted that |
such part of the before recited pub |
lie debt of the state as may have
been funded under the act of 1882 |
shall be funded under this act up
on the following basis. To the |
sum of the face of each of said
bonds shall be added the matured
coupons thereto attached including
the coupons maturing the 1st day
IF July, 1882, and five siXths of
such total amount of each bond to
'und into coupon bonds, and said
ponds to bear interest at the rate of
ihree per cent. per annum, except
uch state debt proper bonds as are
et out and designed in section one
# this act, and funded under the
ct of 1882, which shall be funded
" adding to the face of each
f said bonds the matured cou-
,ons thereto attached, including the
oupons maturing on the first day
f July, 1888, one-third OF the total
mount of each bond added to the
UNI in new coupon bonds, bearing
interest at the rate of five per cent.
er annum, as provided in section
ne of this act.
Provided, however, that bonds
sued under the act of 1882 for ma
lred coupons shall be funded as pre-
,ribed in the first proviso to the
rst section of this act.
The bill comprises IA sections S
ons which we have not space to
lhlich,i about in accord with the
platform and will doubt
SIS pass without material oh ange,
Id an early settlement may be ex-
,cted.