Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-04
STATE OF MAINE BONDS,
STATE OF MAINE,
TREASURES OFFICE,
Augusta, February %, 1889.

TREAsURER's OFFICE,
Augusta, February %, 1889.
In accordance with the provisions of the following
act. the Treasurer of the State of Maine will receive
proposals at his office in Augusta until noon March
u. 1852 for purchase or exchange, as provided in
said act.
AN ACT to provide for the Refundng of the Pub
lie Debt.
Be it enacted by the Senate and House of Repre-
sentatives in Legislature assembled as follows:
Section /. For the purpose OF rene wing 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 issue new bonds in not less than
one thousand dullars each, with coupons attached
for the payment of the interest at rate not to
ceed three per cent per annum, payable semi -annu
ally, and both principal and interest payable in
Boston or At the treasury of Maine The bonds so
Issued shall be pay able to the amount of fifty thous
and dollars per annum for twelve years, beginning
with the year eighteen huntre1 and ninety; seventy
thousand dollars per annum for ten years beg inning
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
dred and twenty two. In case the balance due
the public debt in eighteen hundred and eighty
nine shall be less than two millions eight hundred
thousand dollars then the division Of yearly payments
shall be made by the treasurer for the period of
time and in the ratio that the foregoing appOrtion
mcnt bears to the true amount of the debt then TO
be renewed. Each bond so issued shall be signed by
the Treasurer, countersigned by the Governor, and
attcsied by the secretary OF State, with the seal of
the state the coupons to be signed by the treasurer
only, or the name of the treasurer may be engraved
thereon The treasurer, with the approval of the
Governor in writing, shall have the right
gotiate the sale of the bonds aforesaid and shall adj
vertise for proposals for the in papers
he may deem expedient, with the right to accept
reject any or all proposals.
section 2 The Treasurer of state, with the ap
prova of the Governor in writing, is hereby author
led at any time after the passage Of this act, to
Issue and exchange any of the bonds authorized by
section one of this act, for 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, shah be advantageous to the state.
Section B. These bonds shall be dated is
sued. but the interest shall not begin accrue there
| on until the first day of June, eighteen hundred
and eighty nine.
Secti II a. The Treasurer of State. with the ap-
prova of the Governor in writing, is hereby author
lied to sell any portion all of the bonds in the
sinking fund, and may apply the proceeds thereof
to the purchase of such out standing bonds of the
State may be obtained but in both at prices
which, in his opinion. and in the Judgment of the
Governor, shall be advantageous TO the state.
Section ). All acts or parts of acts inconsistent
with this act. are hereby repealed.
section g. This act shall take effect when ap-
proved.
Approved February %, issg.
The rate of interest is three per cent per annum
payable semi annually, June l, and December /.
any or all proposals.
GEO. l.. BEAL,
maridlw Treasurer of State.