The true northerner., 1898-04-27

proper rs>l listtions OF the Quartermas-
ter general. certified by the governor
as hereinbefore provided for such
amounts as they shall deem necessary
from time to time. and the expenditures
of the money thus drawn by the quar-
termaster general. shall be accounted
for under the provisions of the general
accounting laws applicable TO such
cases. Provided further. Warrants may
be issued by the auditor general upon
proper vouchers certified by the gov
ernor for advances made by the quar-
termaster general of the state for ex-
penditures already incurred for the
purposes herein specified.
Section T. All claims and accounts
accruing against this state for expenses
and disbursements authorized by this
act. shall be audited and allowed by the
state military board. in the same man.
ner that other military accounts are
now audited and allowed. but they shall
! be kept i'm the accounts Of the quarter
! master general as a distinct fund. sep
/ arate and apart from the other ac-
I counts kept by him
Section s. The bonds issued under
this act shall be numbered consecutive
! ly and registered in a book provided for
|
auditor generals office. This register
shall contain the date Of the bond. the
number to whom issued, and the
amount Of each bond; also the date of
redemption, number of bond, If whom
received and amount of each bond.
There shall also be kept in the audi
| tor generals office a register showing
the date Of the bond, the number,
| do e
the cancellation of such coupons as are
| paid, with reference To the number of
the voucher paying the same. When
ever any such bond shall be paid. the
same shall be Immediately cancelled
by the treasurer and the auditor gener-
al shall also keep a full record of all the
bonds taken up and paid as provided
above. And Immediately after the rec
| ord shall have been made as aforesaid.
| the bonds so paid shall also be can
| celled by writing across the face OF
| each bond which cancellation shall be
signed by the auditor general and state
| treasurer, and such bonds thus can
| celled shall be filed with the voucher
| as the basis OF the auditor generals
| warrant for their payment.
Section 8. For the purpose of provid-
ing for the payment of the bonds is
sued under this act. and the interest
| thereon, there shall be assessed on the
| taxable property of the state as fixed
| by the state board of equalization in
the year 1896, and in each year
| thereafter until the several amounts
| levied under this act shall become
sufficient to extinguish the debt created
| herein the sum of II of a mill on each
| dollar Of said taxable property TO be as
| sesssed and paid into the treasury of
| the state in like manner as other state
| taxes are by law levied assessed and
| paid, which amount thus levied shall be
| credited each year TO the war loan sink
| ing fund as herein directed: Provided,
That should the last levy necessary un-
| der this act produce a credit TO the said
war loan sinking fund in excess Of the
| amount required to pay all bonds and
| interest thereon. such excessive credit
| if any shall when all bonds issued un-
| der this act and all interest accrued
| thereon have been paid, be transferred
TO the general fund upon the books of
| the state.
Section T. The faith Of the state is
hereby pledged for the payment OF
| principal and interest Of the bonds
which may be assessed under the pro-
| visions OF this act
Section g. 1t shall be the duty Of the
governor, by and with the advice and
| recommendations of the state military
| board, to eXpend such part Of the above
| fund as may be necessary To recruit.
| enlist, discipline. organize, instruct and
| thoroughly arm and equip the military
bodies in this act mentioned for such
| active service as may be required of
| them.
Section g. Not less than three
months before the maturity OF the op-
ton Of the state TO redeem any or all
of the bonds issued hereinunder, the
treasurer shall give notice by advertise
ment for one week in two daily papers
ana for four weeks in the weekly edi-
ton OF the same paper published in the
city of Detroit designating the time
| when, and the number of said bonds
which will be redeemed and the interest
| on such bonds as are described in such
advertisement shall cease from the date
! specified for the redemption of such
| bonds: Provided, That should the con-
| dition of the war loan sinking fund at
the date aforesaid be such as to per-
nit the redemption of only portion Of
! the loan, the bonds TO be redeemed
shall he determined by the state treas
urer in the following manner, viz: The
| treasurer shall cause numbers corre-
spending with the numbers of all bonds
| issued under this act to be placed in
box to be provided for that purpose
| and shall. in the presence of the gov
ernor and auditor general. proceed to
| draw therefrom numbers of bonds
equal In amount as nearly as may be
| 10 the money in the state treasury ap-
plicable to the redemption of said
| bonds. The numbers thus determined
| shall be the ones used in the advertise
| ment herein provided: Provided fur
iher. That in case the treasurer shall
/ at any time before the state is author
| iZed To redeem any of the bonds issued
| hereinunder. have an opportunity To
purchase any of said bonds at
par with accrued interest there
on. he is hereby authorized to use
any funds in the treasury available for
this purpose.
This act is ordered TO take immediate
effect.
Approved April 10 1898