'who may be authorized by law to collect the State
taxes in the said county, or if there should be at any
time no State tax levied by law, then, and in that
case, by such collector or collectors, or other officer
or officers, who may by law be authorized to collect
the county taxes in said county, and they shall be
paid by him or them into the treasury of the State,
to be invested by the Treasurer in the purchase of
the bonds hereby authorized to be issued, or in the'
stock or bonds of this State, or in such other safe and
productive bonds, stock or funds as he may deem ad-
visable for the purpose of creating a sinking fund
for the redemption of the said bonds at maturity,
and the interest, income or dividends derived from
such investments shall also be from time to time so in-
vested by the Treasurer; and the said sinking fund,
and the investment thereof, shall be kept sacred and
inviolate for the redemption of the said bonds; and
upon the maturity of the said bonds, the Treasurer
shall sell and dispose of the said investment, and ap-
ply the proceeds thereof in payment of the said
bonds.
SEC. 6. And be it enacted, That until the payment
in full of the whole amount of the principal of the
said bonds, all dividends which may be declared by
the said company upon the said stock so to be sub-
scribed for, shall, so long as the said stock shall con-
tinue to be owned by the said county, and held by
the said County Commissioners, be paid by the said
company into the treasury of the State, to be also in
like manner invested in increase of the said sinking
fund.
SEC. 7. And be. it enacted That the said County
Commissioners shall have power at any rime, out of,
any surplus funds belonging to the said county, to
purchase and retire any of the bonds hereby author-
ized to be issued, at the then market value thereof,
and the same to cancel and destroy after entering
upon their books the date of such purchase and of
such cancellation, and the dates, amounts, numbers,
and other particulars of the said bonds, respectively;
provided that no bonds shall be so purchased, unless
alt the coupons thereof, respectively, not then due,
26
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To lie in-
vested by the
Treasurer.
All dividends
to lie paid
into State
Treasury.
May pur-
chase and re-
tire.
Proviso.
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