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Section 1. Be it Enacted by the People of the State of Illinois Represented in the General Assembly, that from and after the first day of January One Thousand Eight Hundred and thirty
nine, the state shall pay the same rate of Interest upon the amount which may be due the school[, ] college[, ] and Seminary funds, that is, or may be received by the state upon stock in the state Bank of Illinois by
[...?] as dividends, the payments shall be made at the same time the dividends are paid
over by the Said Bank, and the state hereby Guarantees, that said Interest shall be equal to six percent per annum payable half yearly.
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53
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No 410
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Senate
A Bill for “An act to provide for an Equitable payment of Interest on the School funds.”
A Bill for “An act to provide for an Equitable payment of Interest on the School funds.”
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[12]/[17]/[1838]
[12]/[17]/[1838]
ordered to 2nd Reading
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[12]/[21]/[1838]
[12]/[21]/[1838]
Read 2 time & ref[refer] to Com on Ed[Committee on Education]
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03/02/1839
03/02/1839
passed
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No 6
1William Thomas introduced SB 25 in the Senate on December 17, 1838. The Senate passed the bill on March 2, 1839. On that same
day, the House of Representatives tabled the bill until July 4 by a vote of 36 yeas to 27 nays, with Abraham Lincoln voting yea.
Journal of the House of Representatives of the Eleventh General Assembly of the State
of Illinois, at Their First Session, Begun and Held in the Town of Vandalia, December
3, 1838 (Vandalia,IL: William Walters, 1838), 597, 599; Journal of the Senate of the Eleventh General Assembly of the State of Illinois, at
Their First Session, Begun and Held in the Town of Vandalia, December 3, 1838 (Vandalia, IL; William Walters, 1838), 73, 101, 498, 507.
Handwritten Document, 2 page(s), Folder 345, SB 25, GA Session 11-1, Illinois State Archives (Springfield, IL) ,