HENRY LLOYD, ESQUIRE, GOVERNOR

changed bonds or certificates of indebtedness
intended to be redeemed by the proceeds of
such sale at their face value, with a further
credit for any accrued and unpaid interest
thereon.

SEC. 7. And be it enacted, That the actual
cash proceeds of such sales of any of such
certificates of indebtedness shall be paid to.
the Treasurer upon the warrant of the Comp-
troller; and such proceeds are hereby appro-

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priated to, and shall be used exclusively for,
the redemption and payment, first, of the bonds
or certificates of indebtedness referred to in
the preamble of this act as now due, and
second, to the redemption and payment of the
bonds or certificates of indebtedness referred
to in the preamble of this act as becoming
due in the year eighteen hundred and eighty-
seven.

SEC. 8. And be it enacted, That all special
taxes now in force provided to be collected
for the purposes of paying the interest and
principal of any of the classes of bonds or

Proceeds—
How used.

certificates of indebtedness matured or matur-
ing, which are intended to be refunded, ex-
changed or redeemed under the provisions of
this act, shall continue to be annually levied,
collected and paid to the Treasurer of the State
until the interest and principal of the debt
substituted therefor, under the provisions of
this act, shall be wholly paid.

Special taxes,
how applied.

SEC. 9. And be it enacted, That this act shall
take effect from and after the date of its pas-
sage.

Approved April 7, 1886.

Effective.