Year: 1859

Relating to the reuempLlon ana cancella-


ton Of the securities for the funded debt


of counties in this State.


Section /. Be H enacted by the General
assembly Of tile State of Ohio. That it is
hereby made the duty of the county audi
tor of any county in this state owing
funded debt bearing interest payable at
stated periods, to draw at the proper times,
his warrant upon the treasurer of his
county for the payment of the gross sum
of such installments of principal or interest
as may be then due, or for such sum of
money in the treasury as may be applca-
BILE to that purpose, and deliver the same
to the county treasurer of such county, and
it is hereby made the duty of such treas
urer, upon the receipt of such warrant, to
make payment of the principal and install
ments of interest of such debt at the times
and places of payment specified in the Sc
curity therefor, out of any money in his
hands applicable to that use; and upon pay
ment of the principal sum or installments
of interest as herein provided, the treasurer
shall take up and hold the obligation or


interest warrant so paid till the same shall
be cancelled as herein provided, but if the


interest be provided for in the body Of the
oblio alton and not by separate warrants
therefor, he shall irdorse the payment
thereof on the obligation and take from
the holder q separate receipt, specifying
the date, amount, number and time of
maturity of such obligation, and the date
of the maturity of the insallment so paid,
and amount and date of the payment.


Sec. 2. If from any cause such debt or
installments of interest be not paid at the
time and place of maturity thereof as afore-
said, 1t shall be the duty of the county
treasurer, at any time afterwards. to pay
the same as funds in his hands applicable
10 that use may admit; but If the treasurer
was really with funds at the time and
place of maturity thereof to make payment
of any such debt or any installment OF in
teIest thereon, and the holder OF the evil
dence thereof did not have the same then
and there present and III readiness to be
surrendered, or TO have the payment IN
dorsed thereon as aforesaid, the county
shall not thereafter be bound to pay any
interesv thereon, till payment shall have
been afterwards demanded at the office OF
the county treasurer, and The same re-
fused.


Sec. 3. 1t shall be tie duty of the
county treasurer aforesaid, or before
the first Monday of June next after this
ac( takes effect, to enter in book to be
provided for that purpose, at the expense
of the county, to be entitled funded debt
to the credit of funded debt, the amount
of money in gross then in his hands ap-
plicabe To the payment Of such debt, and
Shall, in like manner, on the first Monday
of each succeeding month, enter In SAID
book to the credit of the same account, all
sums of money received by him during
the preceding month, applicable to the
payment Of such debt, specifying from
what sources the same were received, and
shall, at the proper dates, enter in the
same book to the debt of the same account.
all sums disbursed by him out of said
! fund, specifying to whom and on what ac-
count, which book shall be open to the in-
spection of all persons interested in said
/ fund, at all times. and shall be kept III
| the treasurer'S Office, and delivered over
with the office to his successor i'll office.


Sec. A. 1t shall be the duty of the
county suditor of each county in this state,
owing a funded debt as aforesaid, to fur
nish The county treasurer of such county,
without unnecessary delay after the pass
age of this act, and from time to time after
wards, as the same may be created, an alb
stract Of the funded debt of such county,
specifying the dates, amounts, numbers,
times of maturity of principal, rate and
times of maturity Of interest, installments
thereon, and when payable, and the treas
urer shall open such accounts thereon IL
the book to be provided as aforesaid, as
may be expedient and proper to show at all
times the amount and several classes oi
! the funded debt of the county, the rate OF
interest accruing thereon, the payments
made or account of the same, and the
amount due and unpaid thereon.


Sec. 5. 1t shall be the duty of treas
urer a: his stated settlements, to produce
and exhibit to the county commissioners
and auditor, all obligations for principal,
debt and interest warrants, by him re-
deemed pursuant to the requirements oi


this act, and all receipts for interest paic
u in cases in which there are no separate


warrants, and after the same shall be com


pared with his accounts, and the accounts
corrected SO as to correspond with the
vouchers So produced, said obligations fo
principal and interest warrants, shall b'


cancelled in such manner as to proven


their being used or put into circulation
and with the vouchers for interest palC


other than upon warrants, shall be tileC


and preserved in the Office of the county
auditor, and the county commissioner
: shall have the power at any time to require
the treasurer to surrender for cancellation
as aforesaid, the obligations and warrant
by him redeemed, subject to his right t.
, be credited therewith, according to righ


and justice; and the treasurer shall hav
the right at any time, on reasonable no
tice, to require the county commissioner
and auditor to receive said obligations anc


warrants for cancellation.


Sec. 6. County treasurers shall be al
lowed for receiving and disbursing a
, moneys coming into their hands, on &C
count of the creation of funded debt g
any county, one half Of one per cent. on a