Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-05
STATE OF MAINE BONDS,
STATE OF MAINE,

Augusta, February "a, 1859.
In accordance with the provisions of the following
act, the Treasurer Of the State of Maine will receive
proposals at his office in Augusta unit, noon, March
II, 1882 for purchase or exchange, as provided in
said act.
An ACT to provide for the Refunding Of the Pub
lie Debt.
Be it enacted by the senate and House of Repre-.
seniatives in Legislature assembled AS follows:
Section !. For the purpose of renewing and ex-
tending the bonded Indebtedness of this State,
which natures during the year eighteen hundred
and eighty nine the Treasurer of the state is hereby
authorized to issne new bonds. In not less than
one thousand dollars each, with coupons attached
for the payment of the interest at rate not to
coed three per cent per annum, payable semiaunu-
ally, and both principal and interest payable in
Boston or at the treasury of Maine The bonds 40
Issued shall be pay able to the amount of fifty thous
and dollars per annum for twelve years, beginning
with the year eighteen hundred and ninety; seventy
thousand dollars per annum for ten years beginning
with the year nineteen hundred and two; seventy
eight thousand dollars per annum for ten years.
beginning with the year nineteen hundred and
twelve. and ninety thousand dollars per annum for
eight years beginning with the year nineteen hun
bred and twenty two. In case the balance due on
the public debt in eighteen hundred and eighty
nine shall be less than two millions eight hundred
thousand dollars then the division of yearly
shall be made BY the treasurer for the period of
time and in the ratio that the foregoing apportion.
ment bears to the true amount of the debt then to
be renewed, Each bond issued shall be signed by
the treasurer counersigned by the Governor, and
att"sied by the secretary OF state with the seal of
the State the coupons b. signed by the treasurer
only, or the name of the treasurer NAV he engraved
thereon The treasurer, with the approval of the
Governor in writing, shall have the right to ne.
gUtiatc the sale of the bonds said and shall ad-
vertise for proposal, for tln in such papers a.
he may deem expedient, with the right TO accept or
reject any or all proposals.
section :. The Treasurer of state, with the ap
proya of the Governor in writing, is hereby author
lied, al aay time after the passage of this act to
issue and exchange any Of thr bonds authorized BY
section one Of this act fer an equal amount of the
bonds of the state, now outstanding on such terms
As In his judgment, and in the opinion of the Gov
ernor, shall be advantageous to the state.
section }. These new bonds shall he dated as is
sued but the interest shall not begin accrue there
on until the first day of June, eighteen hundred.
and eighty nine.
Sect II I. The Treasurer Of State, with the ap
provai of the Governor in writing is hereby author
i2ed to sell any portion all of the bonds in the
sinking fund and may apply the proceeds thereof
10 tn" purchase of such out standing bonds of the
state as may be obtained hut in botn at prices
which, in Bis opinion, and in the Judgment Of the
Governor, SHAH be advantageous to the State
Section ). All acts or parts Of acts inconsistent
with tth- act, are hereby repealed.
Section q This act shall take effect when ap-
proved.
Approved February %, 1850
The rate of Interest Is three per cent per annum
payable semi annually. June /. and December l.
IN" Treasurer ,erves the absolute right to reject
any or all proposals.
GEO. L. BEAL,
mar4dlw Treasurer of State.