Oroville daily Butte record., 1857-08-14
LEGAL NOTICES.
tBY AUTHORITY.l
vote on the state Debt.
OvFICE or SECRETARY OF STATE.
c----....aa,o California Nav 96. 1897. 1

the original Act now file in my office
Witness my hand, and the great seal Of state' at
of ce in Sacramento, California. the twenysixth day
Of May, A, ID. 1857. DAVID r. Duo"LAo'
rsyALl Secretary of State.
CHAPTER CCXLIV.
An Act 80 provide for Paying certain Equit-
able Claims against the State OF Calltor-
MIA, and to contract Funded Debt for
that purpose.
The Peorle Of the Sttie Of California; represented in
Senate and Assembly. do enact as tohotos
SscTlos I For the purpose of lqudating, fund
ing and paying the claims against the state OF Tan
forna. hereinafter specified the Treasurer OF STATE
shall cause 10 be prepared suitable bonds OF the Stale
of California not o exceed the sum of three millions
nine hundred thousand dollars bearing interest at
the rate of seven per cent per annnm from the uhe
OF their issue, payable at the state lreasurers ONCE
on the frat day of Juiy one thousand eight hundred
and seventy.seven the interest accruin2 on SAID
bonds shall be due and payable at the once o. the
Treasurer OF State the first day of January and OF
July of each YEAR PrOuided That the first payment
Of fintrrest shall moi be made before the first day of
Ja~ uary one thousand eight hundred and ntty nine
said bonds shall be signed by the Governor. ana
countersigned by fhe Com piroler, and endorsed by
the Secretary OF STATE ana Snali nave le seal VI Ie
State affixed thereto.
Sec. 2 CO. ran for to- tsterest shall be attached
TO each bonds that they may be removed without
injury or mutation to the bond. Said coupons. con-
secntively numbered shall be signed by the Treas
urer of stale.
Sec. 8. It shall be the duty of the Treasurer and
Comptroller o State each to keep separate record
of all such bonds may be issued, showing the
number date and amount of each bond, and to
whom The same issued. and upon what claim,
and its amounts and noneof the claims herein spe-
Gifted shall be liquidated or paid but In the manner
herein provided.
sec l. The sum of one thousand dollars ia hereby
approprated out of any money in the Treasury not
Otherwise appropriated to pay the expense that may
be incurred by the Treasurer in having said bonds
p,epared, but the Comptroller 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
inaer specified, shall upon the presentation ef the
same To tine Treasurer of the state. receive In eN>
change therefor bond or bonds of the state oi
California provided for in the first session of this
Act: but no bond shall be ISSUED for less sum than
five hundred dollars. for fractional parts OF
hundred dollars, but the Treasurer may issue Ger
tihcates ot such fractional parts not bonded which
said certificates shall be transteranle ana eltteu I'd
/ he funded as before provided The Treasurer shall
endorse on the back OF each claim so received ana
liquidaed, the date on which he received the same
and from whom. and the number ct the bond issued
in exchange therefor, aid such claim snail Oe nieu III
/ the Office OF the Secretary oi STATE
Sec g. For the payment within twenty years of the
principal and interest of the bonds issued under TINS
Act there shall be levied annually, unil the bonds
are paid, and promptly collected IN the sam manner
taxes tax of thirty cents each one hundred dot
lars Of the assessed value o real and personal pro-
pertv in the State. and the fund derived from inns
lax shall be apart AMI applied exclusively 10 me
Davment of the interest on the bonds herein pruvid.
ed, and The final redemption OF HE prlncpal ~ sald
bonds and the faith of the State Of Cantor IA Il,
hereby pledged for the payment ns herein provided
of the bonds issued by virtue of tins Act. ana me 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 TO the payment ol
the principal and interest on the bonds issued under
this Act A wliui refusal or neglect ny supervisors
or any Other officer To levy or collect the tax imposed
by this Act, shall be m~demeanor, ana the person
or persons convicted thereof shah be removed from
Office and punished by fine not exceeding one tae
sand dollars, or by imprisonment IN the county al
not exceeding six months, or by both such line and
imprisonment.
Sec. 7. Whenever, on the first dav ot Jehuary OF
july in any year, there remains alter me payment o
the interest ~ hereinafter provided, surplus OF Ten
thousand dollars or II shall be the duy oi the
Treasurer 10 advertise for the space of one week IN
one daily paper published in English. liz the ciy "i
New York and for one month IN one daily ne~spa'
prr published in English at the stale capital l"f
sealed proposals. to be- opened one monih aIter me
expiration ot such publications by the lrehslftr ID
presence of he Governor or comp roiler a 'he Ia
Cnpul for tie surrender Of bonds issued under liis
Act which advertisement shall state the amount "i
money he has on hahd lor the purpose oi redemption,
and hey shall accept the loves proposals. ~ rates
not exec eding par value rs may redeem he greatest
amount Of bonds until The amount ot ca>h ON mana
for redemption is exhausted lr1pfied, horere4, IN
case IA sufficient amount ol such Dunps shhl hol be
offered s aforesaid. to exhaust the SINKING unu 10 Il
lose amount than ten thousand dollars then II IS
hereby made the duty o the Treasurer 10 advertise
in two uews papers. one in New YORK and one at the
Cnpitn of the state, for :hree months, which adVer-
tisemens shall state the amount III the sinking iund
and the number of bonds numbering them IN Inc
order of their issuance which such fund IS set apart
to pay and discharge; and II sdch bonds SO mum,
bered in such ndvertisen ents shall not be presented
for payment and cancellation within three months
from The expiration OF such puoiicAiioh' then such
fund shah remain in the Treasury To discharge such
bonds whenever presened-bul they snail draw no
interest after such publication as last aforesaid
Sec. z The Treasurer state shall keep full and
particuar account and record OF ali his proceedings
under this Act. and of the bonds redeemed and sur
rendered, and he shall transmit TO the ioVerhor an
abstract Of all his proceedings uuuer this Act. with
his annual report to be by the Governor laid before
the Legislature and all books and papers pertain
ing to The matters provided for in this Act shall Mt all
Times be open to the inspection OF any "a ~ interest
ed, or the Governor, or the AuorheY 80 uffai- or p
committee of either branch OF ne Lt4sttt"te' oi
Joint committee OF both
Sec O. II shall be the duty ofthc Treasurer o. pay
The interest on said bonds when the -HHs i''s due
out OF said interest fund ii sui;icn ami rs sa" an
be not sufficient, then to pay the dr"fstht3 ".' :"
the General Fund: prorided. thnt VI" on 'i. '
State shall first draw his warrant on ,ie ireAsul
payable tn the order of said Treasurer 'of h hl"N
of interest money about to become dat- which sal'
interest warrant shall be drawn AT lea9i one ut"hu
previous to the maturing of the interest.
Sec. TO- IL shall be lhe duty of the Governor ana
Comptroller to attend, at least once ia rAch ih"H"
At the Treasurer. Office, while said bonds are r'"-
issued, 10 examine all claims received by the lrr
surer as aforesaid. aud the same 10 Ue F'-'s
tered and cancelled in such manner as In proven
them from being re-ssued or put Ia circh'anoh.