Mariposa Democrat., 1857-08-13


otherwise appropriated to pay the expense that may
be incurred by the Treasurer in having said bonds
prepared but the Comptroller shall not draw his war
rant the Treasury for this amount until there is
money therein to pay the same.
SEC s. All persons having any of the claims against
the state of California entitled obe funded herein
alter specified shall upon the presentation of the
To the Treasurer of State receive in exchange there
for bond or bonds OF the State Of California provided
for in the first section of this Act but bond shall
be asned for less sum than five hundred dollars,
for fractional parts of a hundred dollars but the
Treasurer may ssne certificates Of such fractional
parts not bonded which said certificates shall be trans
lemble and entitled TO be funded as before provided
The Treasurer shall endorse, on the back Of each claim
so received and lquidated the date on which he re-
ceyed the same, and from whom, and the number Of
the bond issued in exchange therefor and such claim
shall be filed 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 as is
or may be provided by law for ordinary State taxes,
tax Of thirty cents each one hundred dollars of the
assessed value of real and personal property IN the
State, and the fund derived from this tax shall be set
apart and applied exclusively to the payment of the
interest on the bonds herein provided 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 interest thereon and all
moneys that may he received by the State Of Cafor
nia from the United States Government on account Of
the Civil Fund so called, are hereby irrevocably
pledged to the payment Of the principal and interest
the bonds issued under this Act. wilful refusal
neglect by Supervisors or any other officer TO levy
or collect the tax imposed by this Act, shall be mis-
demelnor and the person or persons convicted there
of shall be removed from Office and punished by fine
not exceeding thousand dollars, by imprisOn-
ment in the county Jail not exceeding six months
by both such fine aud Imprisonment.
SEC. 7. Whenever, on the first day Of January or
July in any year there remains after the payment OF
t.tt. UYIt ttD
thousand dollars or more it shall be the duty Of the
Treasurer 20 advertise for the space of week. in
one daily nwspapor published IN English, in the city
Of New York and for one month In one daily news
paper published in English ut the State Capital, for
sealed proposals. % he opened month after the eX
pmt0n Of such publications by the Treasurer in the
presence Of the Governor or 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. at rates not
exceeding par value, as may redeem the greatest
amount Of bonds until the amount Of cash on hand for
rcdemnton Is exhausted pTOuded hoirorer, in case
n Sufficient amount Of such bonds shall not be offered
10 exhaust the sinking fund to less amount than ten
thousand dollars, then IL Is hereby made the duty Of
the Treasurer 10 advertise in two newspapers one in
New York and one at the Capital of this state, for
three months, which advertisements shall state the
amount in the sinking fund, and the number Of bonds
numbering them In the order Of their issuance, which
such fund is set apart u pay and ds'harge; and y
SUCH inul-. 80 HuilNtIth III SUCH NlAu
not be presented for payment and cancellation within
three months from the expiration Of such publication
then such fund shall remain in the Treasury 20 dis
charge such bonds whenever pfesented-bu they shall
draw no interest after such publication last afOre
said
SEC g. The Treasurer Of State shall keep fnll and
particular 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 alr
stract Of all his proceedings under this Act. with his
annual report 30 be BY the Governor laid before the
Legislature and all books and papers pertaining to
the matters provided FOR IN This Act shall at a times
be open % the inspection Of any party Interested or
the Governor or the Attorney General, a committee
Of ther branch Of the Legislature, or joint com
mittcc of both.
SEC. o. 1t shall be the duty Of the Treasurer to pay
the interest on said bonds when same falls due, ont
Of said interest fund II sufficient and f said fund be
not sufficient, then to pay the deficiency out Of the
General Fund; Prorided, that the Comptroller Of
State shall first draw bis warrant on the Treasurer,
payable to the order of said Treasurer for the amount
ofInterest money about to become due, which said
interest warrant shall be drawn at least one month
previous 10 the maturing Of the interest.
SEC. 10. 1t shall be the duty of the Governor and
Comptroller n attend at least once IN each month"; at
the 1reasurer's Office while said bonds are being is
sued to examine all claims received by the Treasurer
rs aforesaid ard the 10 be registered and
cancelled in such manner as TO prevent them from
being rcissucd or pat in circulation.
SEC. II. The following are specified as the claims
which are entitled o. be received and funded under
this Act First Civil bonds Of the State issued under
the funding Acts passed in the years ISL sj2, 1883
1855. aud 1866, which now outstanding, with in
tcre.t due the when presented, appears by
the coupons. Second ComptrOler's warrants drawn
under sanction Of law for civil expenses prJr 70 Jan
uary lst, 4. d. 1857, and now outstanding and un-
paid hut the provisions of this Act shall not authorize
the funding Of any Of those warrants the registration
and endorsement Of which were cancelled required
tobe cancelled by the provisions or An Act to cancel
the registration and endorsement Of cortail warrants
a.. - H. Il
January 30th. 4. D. 1856, warrants which have
been specifically adudged Illegal by any Court, aud
all said warrants specified in the last mentioned Act
are hereby expressly excluded from all the benefits
and provisions Of this Act. Third, Just orlegal claims
against the State accrued prior to January l-t 1851
and which may be allowed and audited by Act Of the
Legislature. And If the Treasurer Of State shall will
fully issue bonds upon claims not herein specified as
receivable, il shall be deemed misdcmean0r, and he
shall be punished provided In section Of this Act
and such bond shall be void.
SIC. ~. The claims specified In this Act may be re-
ccved for funding, and bonds therefor may be issued
prior TO the first day Of January 1889 but not after
wards and all claims not presented FOR finding prior
TO that time, excluded from the provisions Of this
Act, and such blank bonds prepared under the provs
ions Of this Act, shall then remain on hand, shall be
DESTROYED nthe presence of the Governor Comptroller
and Treasurer.
SIC. Is. This Act shall take effect on the first day
Of November, A. D. 1857, 10 all its provisions, ex
cept those relating TO- and necessary for its subms
sion to the people, and for returning. canyassng and
proclaiming the vOtes-which shall take effect i'm
mediately.
| SEC IL. This Act shall be submitted TO the people
Of the State for their ratification at the next general
election, to be holden on the first Wednesday of Sep
tember, A. d. 1857, and the qualified electors Of this
State shall at said election their ballots for State
officers vote for against this Act those voting for
the same, shall write have printed on their ballots,
the words Pay the Deht; y and those voting against
the same, shall write or have printed their ballots
the words =" Repudate the Debt"
SEc. Is. The votes cast for and against this Act,
shall be counted, returned and cauvassed and declared
in the same manner and subject to the same rules as
votes cast for the Treasurer Of State. and II II appear
that majority of all the votes cast for alans
this law aforesaid. in favor Of this Act then the
same shall have effect as hereiHbefore provided and
shall be irepeallbe until the principal and interest Of
the liabilities herein created shall he paid and dis
charged and the Governor shall make proclamation