A Bill for an act to provide for paying the Internal Improvement debt
Sec[Section] 1, Be it Enacted by the people of the State of Illinois Represented in the General assembly
That the Fund Commissioner is hereby authorized and instructed empowered to hypothicate any amount of State Bonds which may be necessary ^not exceeding $300,000.^ to raise a sufficient sum of mony to pay the Interest which will fall due on the Internal Improvement debt on the first
Monday in Jany[January] 1841. Said Bonds ^so^ to be [...?]
hypothecated shall bear an annual Interest at the rate of six per centum, and be, redeemable on or before the first day of January 1843.
Sec 2, Said Fund Commissioner is hereby required to pay over the monies arising from
the hypothecation of said Bonds in discharge of the Interest for which the state is legally liable and ^which will fall^ due on said Internal Improvement debt—
<Page 2>
on the first Monday in Jany 1841.
[ docketing
]
A Bill for an act to provide for paying the interest on the internal Improvement debt
[ docketing
]
passed
<Page 3>
[12]/[15]/[1840]
Amend by Striking out all after the enacting clause and insert the following, viz:
Sec 1 Be it enacted by the people of the State of Illinois represented in the General Assembly
That the Fund Commissioner is hereby Authorized and Empowered to Hypothicate any ammount
of State Enternal Emprovement Bonds which may be nessary, not Exceding 300.000 to
raise a sufficient sum of money to pay the Enterest which will ^Legally [...?]
^ fall due on the Enternal Emprovement debt on the first day monday of Janry 1841. ^
[Se?]
^ said money so to be Borrowed shall beare an anuel intrest at [...?] a rate not to exceade 7 per centum per annum
said Bonds hereby Hipothicated shall be redeamable at any time before the year 1843. Provided that Enterest shall not run on the Bonds hereby Hipothicated, unless said Bonds shall be forfited by the State.
said Bonds hereby Hipothicated shall be redeamable at any time before the year 1843. Provided that Enterest shall not run on the Bonds hereby Hipothicated, unless said Bonds shall be forfited by the State.
<Page 4>
Handwritten Document, 4 page(s), Folder 18, HB 33, GA Session 12-2,
Illinois State Archives (Springfield, IL),