Sec.[Section] 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the Governor is hereby authorized to borrow, on the credit of the State, a sum of money not exceeding one hundred and twenty-eight thousand dollars;2 and the sum so borrowed shall be applied to the payment of the ordinary expenses of the Government, and all other appropriations by law: Provided, That no engagement or contract shall be entered into which shall preclude the State from reimbursing any sum or sums thus borrowed, at any time after the thirty-first day of December, eighteen hundred and sixty.

Sec. 2. The Governor is hereby authorized to cause to be constituted certificates of stock, signed by the Auditor and countersigned by the Treasurer, bearing an interest not exceeding six per centum per annum, payable, semi-annually, at such places within the United States as may be agreed upon between the Governor and person or persons, or corporation, with whom the contract may be made, and reimbursable as aforesaid; which stock, thus created, shall be transferable on the books of the Auditor, or on the books of such agent or agents as the Governor may appoint for that purpose in any part of the United States, by the owner or owners of such stock, his, her, or their attorneys; and new certificates of the same shall be issued to the new holder or holders, either by the Auditor or Treasurer, or by such agent or agents authorized to receive such transfers, at the option of the holders of any such stock, the original certificate of stock being thereupon cancelled at the time of issuing the new certificates of stock in lieu thereof; and if such new certificates of stock be issued by the Auditor and Treasurer, or agent or agents so appointed by the Governor, then the original certificates of stock,

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thus cancelled, shall be transmitted to the Treasurer of this State without delay, and deposited in his office, there to remain. And it is hereby further declared that it shall be deemed to be a good execution of the said power to borrow, for the Governor of this State to cause the said certificates of stock, or any part thereof, to be sold: Provided, That such certificates of stock shall not in any case be sold for less than their par value.

Sec. 3. It shall be the duty of the Auditor and Treasurer to procure a sufficient number of blank certificates of stock, and the necessary books, the expense of which shall be paid out of any money in the treasury not otherwise appropriated.

Approved, March 1, 1839.