The leader., 1897-05-19

ture and execution, forty year bonds Of the State
OF Mississippi OF the total amount OF $4,000,
payable to bearer. at the treasury In The city o.
Jackson, payable at the end OF ten years and at
any time thereafter az the option Of the state,
and the State exercises this option " shall call
10 and pay OF said bonds In numerical order,
beginning with bond number one. said bonds
shall bear interest at the rate OF per cent. per
annum. and said interest shall be payable semi
annually, on the first day OF January and July
iached 10 said bonds. payable semi-annually as
above stated at the treasury.
Sec. The governor shall, as soon as may be
practicable proceed to offer said bonds for sale,
to the highest bidder for cash, as hereinafter
directed He shall give notice In such news
papers as he may deem proper. not less than hye
IN number, and not less than ninety days before
the sale and continuously until sale, and the
bids for said bonds shall be received by him In
sealed envelopes, accompanied BY certified check
bonds bid for. On the day fixed by said notice
the governor. treasurer and auditor shall open
said bids, aud declare the result OF the bidding.
No bids shall be received at price less than the
par value OF said bonds and all bids shall be for
any amount Of bonds desired, In sums of 500 or
multiples thereof When the governor. treas
urrr aud auditor shall have named the success
lul bidder. they shall give such bid Ter a certih-
cate, showing the amount bid by him, on which
the said purchaser shall obtain from tho audi
tor Of public accounts a receipt warrant au-
thorlZing him 10 pay The amount OF said bid into
Tue state treasury. When said purchaser shall
have so paid INTO said treasury said amount OF
said bid the governor shall proceed, as soon as
may be practicable, to execute finally the bonds
so sold to him, and deliver the same TO him with
the interest coupons belonging thereto attached.
hrSt. however, detachng such coupons, II any,
as would represent interest prior to The first day
oil January or the first day OF July, as the case
may be. next preceding said purchase. IL, at
such sale, any OF said bonds shall rematn un-
sold, the governor shall proceed TO hold other
sales, in the manner herein directed. for the pur
pose OF dlspOsing OF said bonds aud. II after the
second sale, any bonds remain unsold, he may,
with the advice and consent of the treasurer and
auditor, negotiate the same at private sale, Tor
price not less than par.
Sec 3. That said bonds shall be signed by the
governor and secretary of State and sealed with
the great seal OF the Stale; but the coupons OF
interest may be uusealed and the signatures OF
the governor and secretary OF State engraved
fac smile. SAID bonds shall be exempt from
taxation and local assessments. The proceeds
OF the sale OF sud m Is, or so much thereof as
lie necessary, is her BY appropriated for the
erection Of new capitol building for the state
OF Mississippi.
Sec 4. The sum OF 50 ,5o1. or much thereof
as may be necessary to pay the expenses OF print
ing and engraving the sail bonds and advertts-
Ing them for sale, is hereby appropriated out OF
the capitol fund, AMI the balance shall be con-
verified back into tile treasury.
Sec ;. That this act take effect and be in force
from aud after its passage.