553
PAPERS OF :MIRABEAU BUONAPARTE LAMAR
Subscription Price;-750 francs. Reimbttrsement;-1,0D0 francs. . INTEREST AT SIX PER CENT.
The Interest at six per cent, on each Bond of 1,000 francs, io be paid every six months, at Messrs. J. Lafitte & Co., on the 1st January and 1st July in each year. CONDITIONS AND SECURITIES OF THE LOAN. 1.-The loan is divided .in 37,oijo bonds of 1,000 francs each, and in 37 series, to be paid off, at par, by means of a lottery or annual drawing of at least 1,000 bonds. • 'fhe first drawing is to take place on the 31st :March 1843. 2.-In all transactions with the Texian Government, each bond of 1,000 francs shall be valued at 200 dollars. 3.-Independently of the whole public domain and revenue resulting from taxation and the customs, 5,000,000 acres of land situated in the most salubrious and fertile portion of Texas are assigned as a specific security for the loan. 4.-According to this scale, each acre of land represents a security of 7 fr. 40 c. These lands are to be put on sale as soon as practicable, by the different agencies to be established for that purpose in France, England, Germany Holland and Belgium. Holders of the bonds shall be entitled to the purchase at the price of 7 fr. 40 c. the acre, of such quantity of land as they may desire, out of five millions of acres above mentioned, in exchange for their bonds which the agencies shall receive at par. From the 1st January 1846, the government of Texas reserves to itself the right to increase the price of that portion of the five millions acres, the exchange of which for bonds of the loan should not have been made, from 7 fr. 40 c. to such price as it may see fit. 5.-With respect to the purchasers who ·shall apply to the agencies established in Europe and shall purchase with money or with titles other than the bonds, any portion whatever of the lands given as secu- rity for the loan, they shall be obliged to purchase them at a price which may be higher than that of 7 fr. 40 c. the acre, but the whole of tbs net proceeds of these sales shall be paid into the hands of )Iessrs. J. Lfitte [sic] and Co. to be applied to the payment of the dividends and to the reimbursement of the principal of the loan. 6.-As the proceeds of these sales cannot be disposed of for any other purpose than to the payment of interest and the annual drawing of 1,000 bonds the drawings may be increased in proportion to the amount of the proceeds realised from the sale of lands. 7. In the following cases likewise the bonds may be issued by the holders. I. For the payment of Custom-House ·duties on all goods imported into Texas- II.-For the purchase of lands belonging generally to the national domain and which do not form part of the :five millions of acres given as a ~ecurity for the loan.
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