TREASURER 3515

An. Code, 1924, sec. 24. 1912, sec. 24. 1904, sec. 24. 1888, sec. 24. 1858, ch. 109, sec. 3.

24. The agents employed to pay the interest upon the public debt are
hereby required semi-annually to transmit to the treasurer of the State all
coupons they may have paid up to the time of making such transmission.

An. Code, 1924, sec. 25. 1912, sec. 25. 1904, sec. 25. 1888, sec. 25. 1872, ch. 276, sec. 4.

25. Whenever in the judgment of the comptroller there shall be a sur-
plus in the treasury over and above the amount necessary to meet the cur-
rent expenses of the State, as provided by law, he shall cause the same to
be invested in the bonds or certificates of debt of this State purchased at
par or less; and in all purchases of bonds or certificates hereby directed
to be made, the treasurer shall give the preference to the overdue debt
of the State and the comptroller and treasurer may at any time require
the said overdue debt or some class thereof which can be regulated and
accurately described to be presented at the place where made payable for
payment by giving not less than thirty days' notice to the holders of sirch
overdue debt that on a day named in said notice interest on said overdue
debt or class thereof will cease; and if said bonds or certificates so overdue
and particularly described in said published notice be not presented for
payment by said day, the payment of interest on the same shall cease and
no further payment of interest on the same shall be made.

An. Code, 1924, sec. 26. 1912, sec. 26. 1904, sec. 26. 1888, sec. 26. 1872, ch. 276, sec. 5.

1890, ch. 571.

26. All money remaining in the treasury of the State at the close of
each fiscal year in excess of one hundred and fifty thousand dollars and
of the sums required to meet the interest due or accruing upon the public
debt of the State and the expenses of the State government as defined by
law shall be held by the treasurer of the State to the credit of the general
sinking fund of the State and shall be invested by the treasurer in the
overdue bonds and stocks of the State and when such overdue bonds and
stocks of the State are not procurable, then in the obligations of the State
not yet matured at the best possible rates for the State, or in the securities
issued by the United States, or in such other productive stocks or bonds
as the treasurer, the governor and comptroller concurring may consider
safe and reliable at the best possible rates for the State, and the sum of
one hundred thousand dollars which is directed by section 8 of this article
to be set apart in each year for the augmentation of the sinking fund may
be invested in the same manner and under the same conditions by the
treasurer; every bond, certificate of stock or other security purchased for
the sinking fund under the provisions of this article, and every coupon
attached thereto shall at once be distinguished and identified by the trea-
surer in the presence of the comptroller by stamping in red ink across the
face thereof the words "purchased for the sinking fund," and also, except
in case of coupons, by writing thereon in red ink the date of its purchase
and the signature of the treasurer; all securities purchased for the sinking
fund shall be held by the treasurer to the credit of said fund in manner as
prescribed by section 28 of this article, and the interest and coupons on
all such securities maturing at a future day shall accrue to and be regu-
larly and promptly collected for and credited to the sinking fund until
such time as such securities shall mature and be redeemed respectively, or
until the general assembly shall dispose of the same, or, in case of overdue