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Appropriation for carrying

out the pro

act.

for the expenditures aforesaid out of any money in the treasury not otherwise appropriated, upon the receipt of vouchers approved by the general treasurer."

SEC. 2. For the purpose of carrying out the visions of this provisions of this act during the fiscal year ending November 30, 1923, the sum of three hundred seventy-five dollars, or so much thereof as may be necessary, is hereby appropriated out of any money in the treasury not otherwise appropriated; and the state auditor is hereby directed to draw his orders upon the general treasurer for the payment of said sum or so much thereof as may from time to time be required, upon receipt by him of vouchers approved by the general treasurer.

H 892 A.
Approved
May 12, 1923.

"Armory of Mounted Com

mands Loan"

authorized.

SEC. 3. This act shall take effect upon its passage, and all acts and parts of acts inconsistent herewith are hereby repealed.

CHAPTER 441.
[2326]

AN ACT TO AUTHORIZE THE ISSUANCE OF BONDS TO BE

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KNOWN AS THE ARMORY OF MOUNTED COMMANDS
LOAN" AND BONDS TO BE KNOWN AS THE ARMORY
OF MOUNTED COMMANDS SECOND LOAN," AND RE-
PEALING CHAPTER 1498 OF THE PUBLIC LAWS.

It is enacted by the General Assembly as follows:

SECTION 1. The general treasurer is hereby aubonds, issue of thorized and directed to issue scrip or certificates of debt in the name and behalf of the state, under its seal, and countersigned by the governor, to an amount not exceeding one hundred thirty thousand dollars, to be designated as the "Armory of Mounted Commands Loan." Said scrip shall be issued as regis

Form of, etc.

tered bonds or with interest coupons attached; shall mature not more than fifty years from the date of issue; shall bear interest at a rate not exceeding four per centum per annum, payable semi-annually in gold coin of the United States, of the present standard of weight and fineness, and shall be redeemable at maturity in gold coin of the United States of the present standard of weight and fineness.

Said bonds may be sold at not less than par, at Sale of. public auction, or in such other mode and at such times and in such amounts as the general treasurer, with the advice of the governor and the chairman of commission of armory of mounted commands, shall deem for the best interests of the state. Said bonds Exempt from shall be exempt from taxation in this state.

taxation.

SEC. 2. The general treasurer shall, on issuing Sinking fund. said bonds, establish a sinking fund and apportion thereto, from year to year, an amount sufficient with its accumulations, to extinguish the debt at its maturity. The amount necessary each year to pay the interest and sinking fund requirements of said bonds shall be included in, and made a part of, the annual appropriation bill for the expenses of the state government, and any premium over the par value of said bonds received on the sale thereof, shall form a part of the sinking fund for their redemption.

"Armory of mands Second authorized.

Mounted Com

Loan" bonds, issue of,

SEC. 3. The general treasurer is hereby authorized and directed to issue scrip or certificates of debt in the name and behalf of the state, under its seal, and countersigned by the governor, to an amount not exceeding two hundred fifty thousand dollars, to be designated as the "Armory of Mounted Commands Second Loan." Said scrip shall be issued as registered Form of, etc. bonds or with interest coupons attached; shall mature not more than fifty years from the date of issue; shall bear interest at a rate not exceeding four per centum

Sale of.

Sinking fund.

Proceeds of sale of bonds, how applied.

per annum, payable semi-annually in gold coin of the United States, of the present standard of weight and fineness, and shall be redeemable at maturity in gold coin of the United States of the present standard of weight and fineness.

Said bonds may be sold at not less than par, at public auction, or in such other mode and at such times and in such amounts as the general treasurer, with the advice of the governor and the chairman of commission of armory of mounted commands, shall deem for the best interests of the state. Said bonds shall be exempt from taxation in this state.

SEC. 4. The general treasurer shall, on issuing said bonds, establish a sinking fund and apportion thereto, from year to year, an amount sufficient with its accumulations, to extinguish the debt at its maturity. The amount necessary each year to pay the interest and sinking fund requirements of said bonds shall be included in, and made a part of, the annual appropriation bill for the expenses of the state government, and any premium over the par value of said bonds received on the sale thereof, shall form a part of the sinking fund for their redemption.

SEC. 5. The amount received from the sale of said scrip, as provided in sections 1 and 3, less any premium received over the par value thereof, as provided in sections 2 and 4, is hereby appropriated, for the completing, furnishing and equipping of the armory of mounted commands, Rhode Island national guard, and for the acquisition, if necessary, of additional land for said armory, to be expended under the direction of the commission of armory of mounted commands; and the state auditor is hereby authorized and directed to draw his orders upon the general treasurer for the payment of such expenditures, upon receipt by him of proper vouchers authenticated by

the chairman and secretary of said commission of armory of mounted commands.

SEC. 6. The general treasurer is hereby directed to deposit the proceeds of the sale of said scrip, less the aforesaid premium, in one or more of the depositories in which the funds of the state may be lawfully kept, and the interest accruing thereon shall be added to and made a part of the general funds of the state.

SEC. 7. In carrying out the provisions of this act the commission of armory of mounted commands shall not be subject to the provisions of article II of chapter 413 of the general laws, entitled "Of the penal and charitable commission."

SEC. 8. This act shall take effect upon its passage and chapter 1498 of the public laws passed at the January session, A. D. 1917, is hereby repealed.

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CHAPTER 442.

[2327]

AN ACT AUTHORIZING THE ISSUANCE OF BONDS TO BE
KNOWN AS THE "PENAL AND CHARITABLE INSTITU-
TIONS LOAN OF 1923."

H 685 A.
Approved
May 14, 1923.

"Penal and stitutions loan bonds, issue of,

charitable in

of 1923"

It is enacted by the General Assembly as follows: SECTION 1. The general treasurer is hereby authorized and directed to issue scrip or certificates of debt in the name and behalf of the state under its seal, and countersigned by the governor, to an amount not exceeding six hundred thousand dollars, to be designated as the "penal and charitable in- Form of, etc. stitutions loan of 1923." Said scrip shall be issued as registered bonds or with interest coupons attached; shall mature not more than fifty years from the date

Sale of.

Exempt from taxation.

Sinking fund.

Proceeds of sale, how applied.

At Exeter school.

At state hospital for mental diseases.

of issue; shall bear interest at a rate not exceeding four per centum per annum, payable semi-annually in gold coin of the United States, of the present standard of weight and fineness, and shall be redeemable at maturity in gold coin of the United States of the present standard of weight and fineness. Said bonds may be sold at not less than par, at public auction, or in such other mode and at such times and in such amounts as the general treasurer, with the advice of the governor and the penal and charitable commission, shall deem for the best interest of the state. Said bonds shall be exempt from taxation in this state.

SEC. 2. The general treasurer shall, on issuing said bonds, establish a sinking fund and apportion thereto, from year to year, an amount sufficient with its accumulations, to extinguish the debt at its maturity. The amount necessary each year to pay the interest and sinking fund requirements of said bonds shall be included in, and made a part of the annual appropriation bill for the expenses of the state government, and any premium over the par value of said bonds received on the sale thereof, shall form a part of the sinking fund for their redemption.

SEC. 3. Of the amount received from the sale of said scrip, less any premium received over the par value thereof, as provided in section 2, the following appropriations are hereby made:

For the construction of new buildings, equipment, furnishings and permanent improvements at Exeter school, a sum not exceeding one hundred seventy-six thousand dollars.

For the reconstruction of buildings, equipment, furnishings, additions and permanent improvements at the state hospital for mental diseases, a sum not exceeding one hundred fifty-three thousand dollars.

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