Page:1889 Territory of Dakota Session Laws.djvu/93

38 thereof, interest upon the principal of such refunding warrants shall cease.

The principal and interest of the said refunding warrants shall be paid out of any money in the treasury not otherwise appropriated at the respective dates of the maturity of the said principal and interest; Provided, That in case the Territory shall hereafter be divided into two territories or states, that territory or state in which the city of Bismarck shall be situated shall be exclusively liable for the payment of the interest and principal of the said refunding warrants.

§ 2. .) That this act shall take effect and be in torce from and after its passage and approval.

Approved March 8, 1889.

CHAPTER 24.

PAYMENT OF OUTSTANDING WARRANTS.

AN ACT, to Provide for the Refunding of the Outstanding Territorial Warrants Drawn on the Capitol Building Fund.

Be it Enacted by the Legislative Assembly of the Territory of Dakota:

§ 1. .] The outstanding warrants issued by the Auditor of the Territory of Dakota, under the provisions of Chapter 104, of the General Laws of 1883, not exceeding the sum of ($53,158.83), shall be paid by the Territorial Treasurer by exchanging therefor refunding warrants for the amount of the principal and interest lawfully accrued thereon at the date of such exchange. The principal of such refunding warrants shall be payable in five years after the date of the issuance thereof, and the same shall bear interest at the rate of five per centum per annum, payable semi-annually at the office of the Territorial Treasurer. The principal and inter- est of the said refunding warrants shall be paid out of any money in the treasury not otherwise appropriated at the respective dates of the maturity of the said principal and interest, provided, that if the Territory of Dakota shall be divided into two territories or states, that territory or state in which Bismarck shall be situated shall be exclusively liable for the payment of the interest and principal of the said refunding warranta.

§ 2. .] It shall be the duty of the Territorial Treasurer to immediately notify the holder or holders of said warrants to present the same for payment at the Treasurer’s office on or before the first day of April, 1889, after which date, interest shall cease on