Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-08
STATE OF MAINE BONDS.
STATE OF MAINE,

TrLAsURER's OFFICE,
Augusta, February "a, lss9
In accordance Nth the prov isons of the following
act. the Treasurer of the State Of Maine will receive
proposals at his office In Augusta until noon March
IL, iess, for purchase or exchange, 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-.
sentaiives 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 il hereby
authorized to issue new bonds. In not less than
one thousand dollars each, with coupons attached
for the payment Of the interest at rate not TO ex
coed three per cent per annum, payable semi nnnu.
ally, and both principal and interest payable in
Boston or at the treasury of Maine. The bonds so
Issued shall be payable to the amount of fifty thnus
and dollars per annum for twelve years, beginning
with the year eighteen hundred and ninety seventy
Thousand dollars per annum for ten years beg
win 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 aDnum for
eight years. beginning with the year nineteen hun
dred and twenty-five. In case the balance due ON
the pubic debt IN eighteen hundred and eighty
nine shall be less than Two millions eight hundred
thousand dollars the the division Of yearly
sha DC made by the treasurer for the period of
ume ana In the ratio that the fore going apporton.
nent bears to the true amount Of the debt then 10
be renewed. Each bond so issued shall be signed bv
the Treasurer, countersigned by the Governor. and
attesied by the Secretary Of state with the .nl of
the State the coupons to be signed by the treasurer
unly, OF the name of the treasurer be engraved
thereon' The treasurer, with the approval of tn.
doyerhor In writing shall have the right to ne.
gotiaie the sale of the bonds aforesaid and shall nj
verise Tor proposals for the in such paper. as
ne may deem expedient, with the right to accent or
reject any or all proposals.
Section 2. The Treasurer of state. with the an
proval OF the Governor in writing is hereby author
lied. at any time after the passage of this net 10
issue and exchange any of the bonds authorized nv
section one OF this act for equal ap,unt of M,
bonds OF the state, now outstanding on such terms
as IN MS Judgment, and in the opinion Of the Gov
ernor shhu De advantageous to the State
Section 3. These new bonds shall he dated AS +.
sued but the interest shall be- to accrue there
on an,ii the nrst day of June, eighteen hundred
and eighty nine.
section T. The Treasurer of State with the an
proVhi OF the Governor in writing IL hereby author.
Heu 10 sen any portion all of the bonds in the
SINKING fund, and may apply the proceeds thereof
20 tne purchase OF such out standing bonds of the
otate Us may be obtained but In both cases MT rc,s
~nlch, IN bis opinion, and in the Judgment Of the
Governor, rhali be advantageous to the State
section o. All acts or parts of acts inconslste Mt
Win ms act. are hereby repealed.
section O. This act shall take effect when an
proved. WIN" ny
- Approved February rs, 1859.
Ihs rate of interest il three per &c mt Der anpum
payable semi annually. June /, and December l.
The Treasurer the absolute right 10 reject
any or ali proposals.
GEO. l.. BEAL,
"ar'ui" Treasurer Of State.