Year: 1867


AN act for the Relief Of the BonaOIdcrs Of the State


SEcTIoS l. Be It enacted by The General Asseu,bl,,
Of the State of Ts1seSsec That whenever snv of the
outstanding bonds OF the State of Tennessee shall
have become impaired in marketable value by ir-
regular or improper endorsements. or from being
improperly filed Gp, or from partial DETACHMENT or
nntilstion IL shall be the duty Of the Governor 10
issue to the holder new bond of the current Sc
res in Lieu Of each bond so impaired in marketable
value taking up the bond in lieu Of which such new
bond NAV be issued Provided that the books of
the Secretary of State and Comptroller shall show
that the bond So taken up and received was regular
ly Issued and that the State is bound for its nav
rnent and pyovicJed that such bond is not 90 npi;
lated as to destroy its identity and binding charac
ter grocded fsrtheT, that whenever any bond above
referred TO- shall be made payable to order or shall
be payable to any person, persons, or corporation
on the face Of the bond and saia bond shall be 40
presented by any person other than the payee in
the bond the person or corporation so presenting
the bond shall show that he is the transferred and
lawful owner thereof.


SEC. q Be it further enacted, That upon the issu-
ance of any new bond, under the preceding section
of this act a receipt for the same shall be given
upon the books of the Secretary of State in which
the transaction shall appear at large and the Sec
retary of State shall deliver the old bond or bonds
so received TO the Comptroller, taking bis receipt
for the same and it shall be the duty of the Comp
troller to proceed at once to cancel such bond or
bonds, in the same manner that the paid bonds of
the State are now by law required to be cancelled


SEC 3. Be 1t further enacted, That che holder of
any of the outstanding bonds Of the State which
may be without coupons or which may be printed
with type, and not engraved, may receive under
the provisions of this law, new bonds of the present
SERIES falling due in 1892, in lieu thereof Drorided
that the first coupon attached to the new bond so
issued shall fall due at the same time that the first
interest may be due upon the bond SO taken up and
received and that the Comptroller make publiea-
ton of all such bonds cancelled, describing them
fully by number, date and amount; provided, how
ever that the bondholder shall pay the expenses in
eident upon the Comptrollers advertising the bonds
contemplated in this act provided that the entire
expense of issuing new bonds, 10 take up the de-
faced and other bon1s provided for in this act shall
be paid by the bondholder provide6, this provision
does not refer to registered bonds.


Sec A. Be tfa1'the1 enacted That il shall be the
duty of the Secretary of State TO copy the book of
receipts for the bonds of the State issued by the
Governors Of the State so as TO show the different
classes and series of bonds in the order of their is
suance, with an index, and it shall be his duty to
deposit the original in the Office of the Comptroller
of the State. ....., e,r


SEC. 2. Be It ftrtie, enacted, Thatthis Act shall
take effect from and after its passage.


WM HEIskELL,


Speaker of the House of Representatives.
JOSHUA B. FRIERsoY,


Speaker of the Senate.