The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-03-03
NoTrcE-oFFfCE or STATE AUprTuF
~ IzYnn.s Maxh Ma-ch Isaa=-


rsoposass vail Dc received =. ny ofsce n
1ssaapaA. rnssl II o'c2eck meridian on the 18th
Iss on Aszsa. isse, ser TIE rsrcaase Of the
bonds OF The state os Washington. 70 the arnosart
81 ihrse hanfrsd thousand syaAaong collars. 20
% Issued IN pursuance OF IN &C. of TIE lexssia-
.a mrs % 40 state. apprcsed February =, isse.
sn,es reads substantially ~ follows.
be u enacted ny the legislature OF The ssase OF
..srerlos L Tia, the governor. stats auditor
80 borrow. IN the credit OF the state the sarn AZ
three hundred Thousand doilars $50 CO., or 10
mnrn rsos - naay be necessary to h9nidAss
exceeding Eve Is. per cent per aanuu' which
money. % borrowed. shall be paid 81 any time
After I'VE years. and within nfteen years. ~ the
option of the slate.
See This loan shall he made apon state
bonds which bonds shall be signed By the Gov
erncr and afaessed by the secretary OF state IN.
DER the sea Of the state. and ccnntsussned and
registered b the state auditor. IL shall be the
duty OF the governor and state auditor TO cause
10 be prepared fog surh purpose BONDS OF the
state to the amount Of three hundred shonxand
dollars $Sao.apul. which shall be af deaomins-
tons not less than one thousand dollars u,. aae
each. and shall, on their face, be made payable
~ ans time after Eve years. and within 6steen
~ the once of the state treasurer, and they
snail pledge the faith and credit OF the state 20
the payment thereof
sec. Whenever the interest on the above
bonds shall become due, the same shall Dc paid
BY the state treasurer.
sec For the purpose of providtrg fund
Tor the edemption Of said bonds aud payment
OF interest thereon the state auditor 10 hereby
authorized and required to levy for Eve fsl con-
tecutise years an annual tax not exceeding one
tenth dlo) OF one mill on the delisr Of the tax
able property Of the state. which tax. when col
lerteJ. shall be known ~ the Interest fund.-
and shall he applied solely 10 the payment at
he intsres, on said bonds, In tho year isas. and
thereafter the state auditor 10 hereby authorized
and required TO levy Ga annual tax OF not ex-
ceeding one-ffth ti-s} OF one mill on the dollar
The taxable property Of the state. which tax.
when collected, shall be known ~ the
redemption fund" and shall, until
such bonds and interest are paid.
be applied solely to the payment thereof in the
following manner viz whenever the amount
thereof shall exceed q sam sufficient 70 pay the
interest falling due 1t the next annual period OF
payment, then such excess remaining. after set
ting apart sufficient for the payment OF such In
teresf. shail be used and paid tor the redemption
OF 90 many Of said bonds Is the same shall be
sufficient 10 redeem. when said bonds are all
redeemed, and all interest thereon paid. the
residue Of said fund. and eli subsequent coliec-
lions OF aid tax, shall be transferred TO the gen.
erai revenue of the state.
The honda will be sold 10 the bidder or bidders
Who win make the loan provided for In said act
at the lowest rate Of interest or to the bidder or
bidders Offering the highest premium for said
bonds. bearing interest ~ the rate OF hse per
Centum Isl per annum. ~ may be determined by
the governor, state auditor and state treasurer.
r. NJ REED. State Auditor.