Oroville daily Butte record., 1857-07-14
LEGAL NOTICES.
IBY AUTHORITY.l
vote on the state Debt.
OyFIcE OF SECRETARY oF STATE.
Sacramento. California, May 70, 1857. !

/
Sacramento California, May 26, 1857.
\ DAVID r. DOUGLASS. SECRETARY OF
4 q State of the State of California. do hereby GER
tiy that the annexed is true and correct copy oi
the original Act now on file in my Office
Witness my hand, and the great seal Of state, nj
of ce In Sacramento, California the twenty day
of Nav, A. D. 1857. DAVID F. DOUGLAS.
| GsEAL.l Secretary of State
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State of Califor-
MIA, and to contract Funded Debt for
that purpose.
The P,orle of the state of California represented tn
Senate and assembly. do enact as foHons
SECTION / For the purpose of liquidatng. fund
IN q and paving the claims against the state OF CALI
fornia hereinafter specified, the Treasurer or STATE
shall 10 be prepared suitable bonds oil the state
Of California, not To exceed the sum of three millions
nine hundred thousand dollars, bearing interest at
the rate of per cent. per annnm from the dale
of their issue payable at the State Treasurers Office
on the fir. day of July, thousand eight hundred
| and seventy.seven: the interest accruin2 on said
bonds shall be due and PAYABLE at the office of the
Treasurer of State on the first day of january and OF
July of each year, Proeded. That the first payment
of interest shall not be made before the first day Of
Ja uary one thousand eight hundred and fifty nine
Said bonds shall be signed 10y the Governor. and
countersigned by the Comptroller. and endorsed oy
the Secretary StHte snail nave lne Oi te
State affixed thereto.
Sec .. Coupons for the interest shall be attached
TO each bond. that they may be removed without
injury mutiaiion to the bond. said coupons. con-
secutyclS numbered. shall be signed by The Treas
urer of state.
Sec. g. 1t shall be the duty of the Treasurer and
Comptroller OF State each to keep separate record
of all such bonds rs may be issued, showing the
number date and amount of each bond, and 10
whom the same was issued. and upon what claim,
and its amount and none of the claims herein spe-
Gifted shall be liqu!daied or paid but in the manner
herein provided.
Sec T. The sum of one thousand dollars il hereby
appropriated out Of any money In the Treasury not
Otherwise appropriated 10 pay the expense that may
be incurred by the Treasurer in having SAID bonds
prepared, but the COmptr'ller shall not draw his
warrant the Treasury for this amount until there
is money therein to pay the same.
Sec All persons having any of the claims against
the state of California, entitled TO be funded as here
inafer specified, shall, upon the presentation of the
to the Treasurer of the State, receive in ex>
change therefor bond or bonds OF the State OF
California. provided for in the first session OF this
Act; but bond shall be issued for less sum ihan
five hundred dollars. nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
tihcates OF such fractional parts not bonded, which
said certificates shall be transferable and entitled 10
| be funded as before provided The Treasurer shall
endorse, on the back of each claim so received and
liquidated, the date which he received the same
and from whom, and the number ct the bond issued
in exchange therefor, aid such claim shall De hed IN
the office of the Secretary of State.
Sec g. For the payment within twenty years of the
principal and interest of the bonds issued under this
Act, there shall be levied annually, until the bonds
are paid, and promptly collected in the same manner
az is or may be provided by law for ordinary state
taxes q tax of thirty cents on each nehundred dol
lars of the assessed value OF real and personal pro-
perty in the State. and the fund derived from this
tax shall be set apart AMI applied exclusively to the
payment of the interest the bonds herein provid
ed and the final redemption of the principal of said
bonds, and the faith of the State of California is
hereby pledged for the payment as herein provided
of the bonds issued by virtue of this Act and the IN
terest thereon and all moneys that may be received
by the State of California from the United States
Government on account OF the Civil Fund, so called
are hereby irrevocably pledged 10 the payment OF
the principal and interest on the bonds issued under
this Act wilful refusal or neglect by Supervisors
or any olher officer levy collect the tax imposed
by this Act, shall be misdemeanor and the person
/ or persons convicted thereof shall be removed from
office and punished by fine not exceeding one thou
sand dollars or by imprisonment in the county lail
not exceeding six months, or by both such me ana
imprisonment.
! Sec Z, Whenever, on the first day of January or
July in any year, there remains, after the payment ol
the interest as hereinafter provided, surplus OF ten
thousand dollars ore, IL shall be the duty OF the
Treasurer to advertise for the space of one week III
one daily paper published in English. in the city of
New York, and for one month in one daily newspa-
per published in English at the State Capital Tor
sealed proposals.. to be opened one month after the
expiration such publications by the Treasurer, IN
presence of the Governor Comptroller, at the state
CAPITAL for the surrender of bonds issued under this
Act which advertisement shall state the amount OF
money he has hand for the purpose OF redemption,
and they shall accept the lowest proposals, Mt rates
not exceeding par value may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted yrODided, hOCecer, IN
case a sufficient amount oi such bonds shall not De
offered as aforesaid, to exhaust the sinking fund to
less amount than ten thousand dollars, then II is
hereby made the duty OF the Treasurer to advertise
in two newspapers, one in New York and one at the
~. thG hiNh M NnF-
tisemens shall state the amount in the sinking fund
and the number of bonds numbering tnem III me
order of their issuance which such fund Is set apart
to nav and discharge: and if such bonds, so num-
bere in such advertiser ents shall not DE presented
for nayment and cancellation within three months
from the expiration OF such publication, then such
cnnd shall remain in the Treasury TO discharge such
bonds whenever presented-but they shall draw no
interest after such publication as last aforesaid.
Sec. Z. The Treasurer OF state shal keep iuii anu
nnrticuar account and record of all his proceedings
under This Act. and of the bonds redeemed and sur
rendered and he shall transmit to the Governor an
abstract of all his proceedings unuer this Act, WIN
his annual report to he by the Governor ald peiore
the Legislature and all books ana papers pertain
ing to the matters provided for in this Act sha' az al
lines be omen to the inspection OF any parry interest
ed ar the Governor. or he Attorney General or
committee uf either branch of the Legislature or
joint committee OF both.
Sec o. Il slaH be the duty o( the Treasurer TO pa,
The interest on said bonds when he Saine IaIis due
out OF said interest fund.- II sufficient, nd said rune
be not sufficient, then 10 pay the deficiency ont
the General Fund; pTfciG.a. tait lie t"Ihl,FoHef
State shall FIRST draw his warrant on the Treasurer
payable to hc order Of said Treasurer Tor tne anon;
N. tNs1 u