The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1902-01-11

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Making a grand total for
the two years ........... $atSOO,OVO OV1
1t will be borne in mind that these
amounts are estimated, but are be-
lieved to be approximately correct,
and / beg to admonish that should the
D appropriations made at this session ex-
coed She above amount. serious embar-
4 rassment might result to the State.
n Nj OF BONDS.
The legislature at its session in 1896
N (Chapter 34), for the purpose Of rails
ing revenue to carry OF the State gov
ernment for the fiscal years 1896 and
i1897, authorized the issuance Of $780,
10000 of 5 per cent bonds, payable in
ten years, with the option given the
State to redeem or pay off same in five
years from their issuance, and in per-
suance thereof and in accordance with
the provision of said Act, there were
issued and sold on the first day of
July, 1896, said $500. 900. 90 Of bonds.
BY section z of the Act. the credit Of
the State of Mississippi was pledged
to the punctual payment, both OF
principal and interest, of said bonds,
and at the expiration of five years the
State was given the option to pay on
anu IualGe any VI all VI tuCh.
On July LIST, 1901, when the said op-
ton mafured, as the agent and repre-
sentative of the State in the premises,
| published a proclamation giving no.
tice to all holders Of said Mississippi
State Bonds. series 81" numbered
from / to 500, to present same on July
LIST, A. D. 1901, to the treasurer of the
State of Mississippi at his Office in the
Capitol. in the City of Jackson, Missis-
sippi, for payment In full, with &C
crued interest.
Under this call, I have the honor ia
report that up to the list of October,
1901, 1888, 000. 90 Of said bonds were
presented to and cashed by the treas
urer, and that SO, 500 600 thereof have
been paid off and cancelled since Octo
Der LIST. aforesaid, including all &C
crued interest on the bonds thus taker
The law governing the whole subjecf
matter relative to said bonds Is con
tanned in the said Act of 1896, and be
ing of opinion that there was no con
stitutional or statutory inhibition T.
prevent the States exercise OF the op
ton through Its agents or fiscal CT
ficers, | deemed 1t wise and to the bes
interest of the State to pay them OF
and stop the interest of $40, 100000 pc
annum Especially did this cours
seem proper in view Of the fact tina
there was ample idle money in tn
treasury to cover said bonds, not oh
erwise appropriated by the legislator
or needed for present use.
STATE HOUSE oNDs.
CHAPTER 81 of the Acts Of the leyii
,ature OF A. D. 1900 authorized the CO.
ernor to have prepared a series Q
ahirty year, four per cent interes
bonds of the State of Mississippi to tn
amount of 81, 900, 100000. to be sold b
him to the highest bidder for cash, .
such times and in such amounts as b
miArht elect. The further additions
sum of So, $4,000 was appropriated b
said, act for engraving the said bono
and advertising the same for sale. d
section 6 Of the said act $4O,0O0.Oo WI
appropriated with which to pay int
est ont the State-house bonds aforesai
for 1900.
I confess to much pleasure In besr
able to report that no part OF sal
bonds has been prepared or sold, al
consequently there has been no occ
sion to use, the money appropriated y
interest, ot for llthographing, and IN
the State has thus been saved 10,
per cent interest, or $4,000, for Il