About the Book
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 Excerpt: ... Ohio, Oklahoma, Oregon, Pennsylvania (for payment of temporary indebtedness), South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Wyoming. Bonds may or may not be sold for less than par, according to conditions or nature of bonds.--In Indiana, for a bond issue not exceeding $50,000 in incorporated cities and towns for sites or buildings, at not less than 94 cents on the dollar; in unincorporated districts, to meet the conditions of a gift or bequest of $5,000 or more for a school building, at not less than 95 cents on the dollar; other bonds in all other districts, at not less than par. In Kansas, for school buildings, at not less than 95 cents on the dollar; funding and refunding bonds, at not less than par. In Missouri, for sites and buildings and for refunding bonds, at not less than 90 cents on the dollar; refunding bonds under certain conditions, at not less than par. In New Mexico, for buildings, at not less than 90 cents on the dollar; refunding bonds, at not less than par. CARE OF THE SINKING FUND. Another form of restriction deals with the manner of taking care of the sinking fund for the redemption of bonds. The laws of the States legislating in this particular very generally designate that the sinking 1 Arizona, California, Colorado, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Wyoming, fund is to be used in purchasing outstanding bonds, or invested in bonds of the State or some unit thereof, or of the United States. A few States permit investment in securities of other States or of units in other States. A less ...
