Madison County History and Genealogy

History and Genealogy



History of Madison County


Bond Issues


The first issue of bonds to pay for the construction of the new court house, jail and sheriff's residence was ordered by the commissioners, July 15, 1890. The issue was to be for fifty one-thousand-dollar bonds, to bear interest at six per cent, payable semi-annually, the bonds to be paid off in bunches of ten bonds. Twelve bids were received on this issue and they were sold to the First National Bank of Chillicothe, Ohio, on August 7, 1890, for fifty-three thousand nine hundred and one dollars. On March 30, 1891, the commissioners ordered another issue of seventy-six one-thousand-dollar bonds to bear date of April 23, 1891. They were issued in thirteen series, and bore six per cent. interest, payable semi-annually. They were sold on that date to Farson Leach & Company, of Chicago, at a premium of three thousand six hundred and ten dollars. The third issue of court house and Jail bonds was voted on November 16, 1891, and was to consist of seventy-four one-thousand-dollar bonds in twelve series, to bear the date of December 17, 1891. These were sold to Seasongood & Mayer, of Cincinnati, on that date, for eighty thousand, three hundred and sixty-nine dollars and fifty cents.

On July 16, 1892, the commissioners ordered that a bill be prepared and sent to Hon. James Martin, representative of Madison county in the General Assembly, to be submitted to that body, authorizing the issue of bonds not to exceed twenty thousand dollars at six per cent. interest for the purpose of furnishing the court house. This bill was enacted into law on April 12, 1892, and twenty-one thousand dollar bonds were issued bearing the date of November 12, 1892. These bonds, "for the purchase of furniture and fixtures for the court house and improving the court house grounds," were sold to Spitzer & Company, of Toledo, Ohio, for twenty-two thousand and forty-three dollars.


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