Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-07
OF MAINE BONDS,
STATE OF MAINE,

TREAsURERs OFFICE,
Augusta, February ~, 1859.
In accordance with the provisions of the following
act the Treasurer of the State of Maine will
proposals at his Office in Augusta, until noon March
said act. "
AN AcT to provide for the Refundng of the Pub
lie Debt.
Be 1t enacted by the Senate and House of Repre.
sentatives in Legislature assembled + 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 /.
authorized to Issue new bonds in not less than
one thousand dollars each. with coupons attached
for the payment of the interest at a not to ex
coed 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 payable to the amount of fifty thous
ana dollars per annum for twelve years bpginniug
WIN the year eighteen hundred and ninety seventy
Thousand dollars per annum for ten years. beg inning
WIN me year nineteen hundred and two, seventy
eignt 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 the balance due on
the public debt in eighteen hundred and eighty
nine snail be less than two millions eight hundred
Thousand dollars then the division of yearly payne ns
shall be made by the treasurer for the same Of
time and In the ratio that the foregoing apporton
ment 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
attested 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
tnereon. The treasurer, with the approval of the
Governor In writing, shall have the right to ne.
gotate the sale of the bonds afores and shall ad
serise Tor proposals for the in such papers a
ne may deem expedent, with the right to accept or
reject any or all proposals.
section 2. The Treasurer of state with the an
proshi OF the Governor In writing Is hereby author
yea, AT any time after the passage of this act TO
ISSUE ana 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 MS Judgment, and in the opinion of the Gov
ernor, shall be advantageous to the state
section =. These new bonds shall be dated rs is
sued but the interest shall begin to accrue there
on antii the frst day of June, eighteen hundred
Section !. The Treasurer of State with the M.
proval OF the Governor in writing /. hereby author
1ed TO sell any portion all of the bonds in the
sinking fund, and may apply the proceeds thereof
70 the purchase of such out standing bonds of the
oae AS may be obtained but In both cases nj prices
which, in bis opinion, and in the Judgment Of the
GOVERNOR snail be advantageous to the state,
section .. All acts parts Of acts inconsistent
WIN this act, are hereby repealed.
sfctlon o. This act shall take effect when nm
proved ny
- Approved February 26, Issg.
me rate OF interest il three per cent ppr annurn
payable semi annually. June l. and December l.
The treasurer the absolute right to reject
any or all proposals.
GEO. l.. BEAL,
marshiw Treasurer of State.