Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-02-11

| engraved bonds.
b. The said now bonds shall be issued 10 said
Bondholders' Committee BY the said commits
| sioners In tho following proportion-to Wit:
| $4,000 OF the new bonds 10 10 created under
this oct shall be issued for every $4,000 OF old
outstanding OBLIGATIONS principal and interest
| 90 July 1, 1917 az afcroeaid surrendered ny
said Bondho;dcrn' COMMITTEES to tho said com
| missioner. after deductine thercfrom one third
Of the principal and interest Of obligations 80
surrendered, issued prior 70 the Sotn gay
OF March, 1871; and proportionate
amount Of said now bonds shall Be issued
| for smaller sums OF said outstanding
| obligations no surrendered; provided, mat
ton OF West Virginia Of the obligations Of the
| State shah be funded under I'M. acf. "nen
| sad BondhoIders' Committee shall have sur
rendered and EXCHANGED snsn 9p,g , non oo 10
| SAID committee may at any time fheres'ter up
| 20 and including the 3oth day OF june lo"s'
| preseh: 20 said commissioners Tor verlncatioh
| e,rrander and exchange additional obligations,
principal and interest, ~ Aforesaid; all coupons
| insturcd or TO mature on coupon bonds aiter
July /. 1891, or coupons OF like class, date, ana
/ amount or the face value thereof In cesh. to DO
| presented with such bondr, the cash, II paid
\ 70 he returned n proper coupons are eubse-
| auen.ly rendered. After said commissioners
shall have determined That SAID obIgs',ons con,
/ form 10 the requirements OF paragraph hereof
said commissioners shall accept tho obligations
| 40 presented for surrender and exchange by SAID
\ comniitar, and snail deliver 10 said committee
4
| PROVISIONS of this act IN the same proportion az
Il set out In this paragraph OF this section. after
\ deductlog one third Of the principal and interest
| Of such obligation, issued prior TO March 80,
! 1871. -
r. II on making the exchange provided Tor In
| this act said committee shall he found entitled
| 20 fractional amount or amounts less than
| 400 In addition 10 the new bonds delivered 10
| A., said Commissioners OF the Sinking Fund shall
| lsrIe % the committee certificate or certih-
| Gates for such amount or amounts. slch
| fractional certificates shall be exchangebie
| for the bonds authorised by thie act TO be
| issued IN sums Of 400 or eny multiple thereof
and certificates OF ike character shall be issued
| for any fractional amount which may remain In
| making the exchange.
| a. For ali balances OF the indebtedness con-
| st!tuiing West ylrginia's share Of the old debt
principal and interest, in the settlement OF VIZ
| ginias equitable share OF the bonds authorized
| 10 be exchanged under this act, the said share
| having bcen heretofore determined 10y the COM
| lnonwealth OF Virginia; ths said commissioners
| shall Issue certificates substantially In the foi-
| lowing form-vH:
| No.
| The Commonwealth OF Virginia has this day
| discharged her equitable share Of tho registered
or coupon "a the case may be- bond Tor $,
dated :, day OF , ana NO from, leaving ~ bs
accounted for 10 the holder OF this certificate by
| the State OF West Virginia, without recourse
| upou this Commonwealth.
| Done at the Capitol Of the State OF Virginia,
| this - day OF -, 1892.
| - -, Second Auditor,
-, Treasurer.
The certificates 90 issued under sections D and
@ OF this act shall be recorded by the Second Au-
| ditor IN a book kept for that purpose. giving the
| date and number of the transaction 10 which II
| refers, the amount OF the certncates, ana the
| name OF the person or corporation 10 whoni
| issued and delivered; and as such certlncates,
authorized by paragraph c, section .. OF this
act, are exchanged, the same shall be canceled
and preserved. as herein provided In respect to
| the evidences OF debt refunded.
| THE LINT OF DEPOSIT.
| T. The Commissioners Of the Sinking Fund
| are hereby authorized and required 10 receive
on deposit for yeri1cation, classification, and ex-
| change such Of the said obligations OF the State
as may be presented TO said commissioners;
provided that said commissioners shall not re-
| ceiye on deposit Tor the purposes aforesaid any
| outstanding obligations oil the State which nave
| been once deposited with the B0ndholders Com
mittee, or may be hereafter deposited with
| them; the said yerficauon and exchange for the
new bonds Of the obligations 30 deposited TO be
| conducted In the same manner "a hereinbeiore
provided with respect TO the Obligations deposited
| with the said BOndholders Committee, and the
| said Commissioners Ot the Sinking FUND snail
| Issue 10 and distribute amongst SAID depositing
creditors after they have fully compiled with the
| terms OF this act, in exchange To- the oDllga-
| tons 30 deposited, bonds authorized by this &c;
| as follows--viz: To each OF the several classes
of said depoeiting creditors the same proportion
| az nearly as may be found in their Judgment
practicable by the Commissioners Of the Sink
| ing Fund. as tho same class shall receive under
| the distribution which snail be made by the
commission for the creditors represented by tne
Bondhoders Committee; provided that no OBJ
nkuiV,o s nnt 70 1920, Y III Too - ab,I
aI.oi 'no DV .as ' ta ro.a,,aa ,rhich do not
have attached thereto all the coupons maturing
after July /. 1891; but for any such coupons az
may De inssls coupons VI nno lass os
amount OF the race Naiue 'hefco. "a oaoii, ii,!
Dc recelyeu, INC salh cash, Pniu' w 20 ~
| turned II proper coupons are SUP egueh'y ',li-
oereo; ana ehcn ueposi,or shas "nen Io 70.
celves us =, ~ -, s - me
ISSUE Vi ponus, "a! W ,u VI %, ,h
oihklhg runu on per cenIuiii ~ ga ~ VI },
par value OF inc Donus receiNoi ny nun anu
| said Sinklng-f una commissioners still so .
tle 1uhn thus feceNou in'o 'uo '4oaS"i' Va '"0
CommoEwestn. .,.,o, ,o,,. ,,s,oa
3: All the coupon ana resisteIei ponas ,ssu ~,
under TINS act SNAIL DO separately foSoIuou w
| the Second Auditor IN DOCKS proylucu ior 'ilo
| SPECIFIC purpose, IN each case giving lne eate,
| number, amount OF oDngatohs iesueu, anu tno
| name OF the person or corporation 10 "hoEi is-
| sued, and the date number, amount OIL ana de-
| scriptlon OF the Obligations surrehuere1.
y. All the bonus anu esr.ncaeS VI uo',, Inu
evidences OF past-uue ana unpaiu interest, .ahch
In under the pro'isions OF thls act snan 10 cah-
| celled by the treasurer IN Tue presence VI ,ne
commissioners OF ihe SHINING unu, vi may
| lty thereoi, as inc eaiio arc aequifou, Gnu "
him carefully preserved subject 70 disposition W
| the General Assembly. Ascheuuie OF the pohus'
Ger tiicates. ana olGer e'idehces OF ueDt 80 can
| celled shall De certihen py sald Commissioners
| ana nled by the treasurer TOT preservation.
TO CREATE SINKING FUND.
| IN Tn tho voar lol O and annually thereafter
,hara shau no set enart of the revenue collected
| from the uronertv of the State each wear I'D 10
| and tnclnding he vear 1870 one half OF 1 per
| cant nnon me honds tssred under This act as
| we'll az unon The Outstanding bonds issued under
| the act ennroyed FEBRUARY IA, 1882, and In the
| venr 1910 and annually thereafter until all the
bonds sned under thus act ana me said act ap-
| nroyed February IA, 1882, are paid there shall
i be set apart of tho revenue collected from the
| nronerty of the state each wear per cent upon
Inc bonds issued under the aforesaid acts, which
/ shall be paid into the Treasury 10 the credit Of
/ tho sinkine fnnd. and the Commissioners OF the
i Sinking Fund shall annually or oftener apply
the same TO the REDEMPTION or purchase lat a
rat q moi above mar and accrued intercsp of the
bonds issued under this act and the bonds 80 re.
| deemed shall be cancelled by said commissioners
and the same registered by the Second Auditor In
/ n hook 10 be Kept for that purpose giving the
| number and date OF issue, the character, the
| amount and the owner at the time OF purchase
1 of me bonds SO redeemed and cancelled. and In
case no such purchase of bonds can be made,
| then the amount which can he redeemed shall
be called In by lot. as provided In section OF
| this act. All bonds Of the State issued under