Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1888-05-17

iaIs ana slXIy-tnTee cents. as eVlueDces
of such loan such certificates Of in
leb:edness shall be dated or the fret
lay Of July, eighteen hundred and
no one Ct said certiti-
Gates shall be issued for a less sum
than one hundred dollars or some
multiple thereof. except in cases when
due execution OF the provisions of this
act may necessarily require the issue
Of certificate or certificates Of in
debtedness, expressing in part frac-
ton or fractions Of one hundred dol
lars each OF such certificates of in
debtednesss shall be signed by the
Treasurer of the State and counter
signed by the Comptroller of the
Treasury thereof, and shall bear inter
est at rate not exceeding three and
sixty-ive hundredths per centum per
snnum, payable semi-annually on the
first day of January, and the first day
of July Of each year such proper
ton Of said certificates of indebted
ness shall be registered, and such pro-
portion shall have interest coupons
attached thereto as the said Governor,
Comptroller of the Treasury and
Treasurer, or a majority Of them may
from time to time determine each of
said certificates Of Indebtedness shall
be payable at the pleasure of the State
OF Maryland, alter the first day Of
July, in the year nineteen hundred
and three; each of such certificates Of
Indebtedness, and the respective debts
evidenced thereby, shall be exempted
from all State, county and municipal
taxation and there shall be endorsed
by the Treasurer of the State, upon
each Of said certificates of indebted
ness, when the same is issued for ex-
change, or other disposition under the
provisions OF this act, the date of such
issue, and the the from which in
terest begin TO run thereon.
Sec. ;. And NJ il enacted, That in order
{ provide 70. The exchange Of the cCriiii-
Gates If Indebtedness issued under the pro
visions # his act, for 'he sterling bonds,
or evidences Of sterling Indebtedness, re-
icrrcd o. in the preamble Of his act, The
Governor, Comptroller Of he Treasury, and
Treasurer of this Stat, or 2 majority If
en-, bc and they are hc.eby directed "a
adyU. .'sc " CO u week. for s.N weeks, be
tween the / / day Of January, eighteen
hundred anG { nty-r' Lc, and the first lay
~ April, eighteen hundred and iEhty u.lU,
IN two newspapers pub she'd il The City II
London, and tW &c "a week Tor tree success
-ivC weeks, bo cen lie first day oi March,
eighteen humid j and e -ht nine, and 'Gc
iii day OF May, eighteen hundred and
r LhtS -niIu, III two new ~papvrS published
ia each of the Cite OF Baltimore, ! Mia
dclphia and New \ orA, that the Treasurer
81 this State will IL III RI IdineSs, between
The first day 81 May, eighteen hundred and
eighty nine, and the fifteenth day of June
Ia said last mentioned year, 10 exchange
a; such place or pl: as may b. named IN
said respective al tisci ms, certificate
OF indcbi dneSS Issued under this act aol
sterling bonds or evidences OF sterling in.
,lcbtedncss issued under tho act Of eighteen
hundred and hi. weight, chapter tn s.,
hundred and ciL hty six, upon the &c. rs
hereinafter in this &C ,un prescribed and
the Treasurer Of this State Is hereby au'
thurlLcd, and may be required, between the
first day OF May and the tir,eelth day OF
June, in the year eighteen hundred and
eighty nine, by the holder OF any OF The
sterling bonds or { len : ot sterling in
debtadnc Of Ibis i. Itc, issued under the
act of eighteen hundred and thirty-cight
chapter three hundred aud eightysiN &
exchange, before the i. zenith day OF June
in the year eighteen hundred and eighty
nine, and as Of the date OF the first day Of
July, eighteen hundred and Cighty-ninc,
any part or pals If the CeltiiiCa' : OF III
dcbtedneSs Of this State, issued under the
provisions Of this Act, al their face amount
and value, for any part or parts OF the
sterling bonds or u dcnCeS of sterling III
dcbtclnCSs of his Safe, Of he same aggrc-
gate amount and value, estimating each
pound sterling at the value of f. dollars,
CiChty-sjX cents and >iN and a-balt-tcntls
ui a cent. in making such exchanges all
fractions OF such aggregate eNchanEeahlc
Indebtedness If this State e. any holder Of
such sterling bonds Or evidences Of - RI ~
Indebtedness, amounting t. less fIan one
hundred dollars, and all amountSaf d''icr-
cnccS of interest, which may lie required
t. be paid 10y the State in making any OF
the exchanges authorized 10y this act, sail
IL settled 10y the stat or by the per Vi
liable t. pay the same, in cash. and all
such differences which may bc payable Ia
the State, shall II received by the said
Treasurer, upon the warrant of the Comp
trNllCr, into the Treasury q; this State.
Sec. |. And he it enacted, That il any
81 the certificate; of indebt, dncSs iSSu' Il
under the prov .sions of this Act, remain
uucXChangcd on The first day Of July, in
the year eighteen hundred and cighty-nino,
tor sterling bonds, or Gel .iticatas of sterling
Indebtedness, issued under the act OF eigh
teen hundred and thirty eight, chapter three
hundred and GiEhty-siX, the Governor,
Comptroller, and Treasurer OF his State,
or a majority Ct them, may IT any time
after said last mentioned day. give notice
hy advertisements published twice I week,
for Il least -four weeks, in two newspapers
published in each of the cities Of Baiti-
more, Philadelphia and New York, before
the day mentioned n said advertisements
- the day for opening the proposals thereby
called for. that they " III receive sealed pro-
poSals for the purchase Of - many of such
certificates Of Indebtedness, issued under
the provisions of this act, a. may not have
hven cNChang 4, Is prov .dCd for in this act,
At prices not less than The par ~ face value
" the said certificates Of in lebledneSs, and
the interest acc ling thereon, On the open
in II such proposals, - many OF said GER
tiicatsS Of Indebtedness a. have been -
lid for, aud lie accruing interest thereon.
shall k awarded by he said Governor,
Comptroller OF the Treasury, and Trcasur-
II, or thu majority II them, to he highest
responsible bidder or bidders therefor. for
cash. anG wnCu two or more bidders have
made the same bid. and such bid Is the
highest, the certificate ri Indebtedness -
b,i inv shall be awarded 10 such highest re-
Spon>iblc bidders. and e The amounts -
hid t1y, II the same higheS; responsible bid,
arc in excess Oi The whole amount Of Gel i
Gates Of indebt adnCSS - offered for sale, such
certificates ofindCbtCineSS shall be awarded
., S,,rI HIGHEST r,-y,,rSsbl, b;.1 3ny. l,;lls-