Oroville daily Butte record., 1857-07-20
LEGAL NOTICES.
fBY AUTHORITY.l
Vote on the state Debt.
0vFIcE OF SECRETARY OF STATE.


State of the State Of California, do hereby GER
tiy that the annexed is true and correct copy Of
the original Act now on file in my Office.
Witness my hand, and the great seal of State, at
OF ce in Sacramento, California the twenty sixth day
of May, A. D. 1857. DAVID T. DOUGLAS.
[sEALl 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 People Of the State Of California. represented IN
Senate and Assembly. do enact as foiio,os
SECTION l. For the purpose Of liqudating, fund
I'M q and paying the claims against the state OF Cali
fornia hereinafter specified, the Treasurer of Stale
shall canse TO be prepared suitable bonds of the State
CT California. not to exceed the sum OF three millions
nine hundred thousand dollars, bearing interest at
the rate of seven per cent per annnm from the date
OF their ISSUE payable at the State Treasurers Office,
on the first day of july thousand eight hundred
and seventy the interest accruiD2 on said
bonds shall be due and payable at the Office of the
Treasurer of State the first day Of January and of
July Of each year. Prorided. That the first payment
Interest shall not be made before the first day of
ia uary, one thousand eight hundred and fifty nine.
Said bonds shall he signed by the Governor, and
countersigned by the Comptroller, and endorsed by
the Secretary Of State and shall have the seal Of the
State affixed thereto.
Sec 2 Coupons for the interest shall be attached
injury or mutilation to the bond. said coupons.
secuiively numbered shall be signed by the Treas
urer Of State.
Sec. g. 1t shall be the duty of the Treasurer aud
Comptroller OF State each 10 keep separate record
Of all such bonds as may be issued, showing the
number. date and amount of each bond, and to
whom the same issued and upon what claim,
and its amount: and none of the claims herein spe-
Gifted shall be liqudated paid but in the manner
herein provided.
Sec !. The sum Of one Thousand dollars il hereby
appropriated 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
prepared, but the Comptroller shall not draw his
warrant the Treasury for this amount until there
is money therein to pay the same.
Sec 5 All persons having any Of the claims against
the state of California entitled TO be funded as here
nafier specified, shall, upon the presentation ef the
same 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; hut no bond shall be issued for less sum than
five hundred dollars, nor for fractional parts OF
hundred dollars, but the Treasurer may issue GER
ihcaes ot such fractional parts not bonded, which
said certificates shall be transferable aud entitled to
be funded before provided The Treasurer shall
endorse, on the back of each claim 80 received and
quidated. the date on which he received the same.
and from whom. and the number ct the bond issued
in exchange therefor. ard such claim shall De filed IN
the office of the Secretary of state.
Sec &. For The payment within twenty years Of the
princira and interest the bonds issued ,nder this
Act. there shall be levied annually, until the bonds
are pail and promptly collected in the same manner
as is or may he provided by law for ordinary state
taxes tax of thirty cents on each one hundred dol
lars of the assessed value ci 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 on the bonds herein pr0vid
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 ms herein provided
Of the bonds issued by virtue of this Act. and The IN
terest thereon and all moneys that may he received
/ 4. fa Unit tA &tpfA
IGoyrrnment on account Of the civil Fund. so called.
are hereby irrevOcahly PLEDGED to the payment of
the principal and interest Oh the bonds issued under
this Act A wfu refusal or neglect by Supervisors
or any Other officer 10 levy or collect the tax imposed
by this Act shall be a misdemeanur, 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 count! jail
not exceeding six months, or by both such fine and
imprisonment.
Sec 7 Whenever, on the first day Of Jfnuary or
July in any year, there remains, after the payment OF
the interest as hereinafter provided, surplus o ten
thousand dollars ore, il shall be the duty Of the
Treasurer to advertise for the space of one week. in
one daily paper published in English, IN the city III
New York, and for one month IN one dhiiy newspp'
per published in English at the state Capital for
seaIed proposals TO be opened one month after the
expiration of such publications by the Treasurer, in
presence of the Governor or Comp at the state
Capital for the surrender Of bonds Saned under hs
Act, which advertisement shall State the amount oi
money he has hand for the purpose ot redempuOn
and they shall accept the loves; proposals. at rates
not exceeding par vaiuc ~ may redeem ihe gfcaest
amount of bonds until the amount oi cash ON hand
for redemption is exhausted: g70odtd, hooerer, ~
case Il sufficient amount ." such bonds ehall not be
offered as aforesaid. to exhaust the sinking fund to
less amount than ten thousand dollars, then it is
hereby made the duty OF the Treasurer to advertise
i'm two newspapers, one in New York and enc al the
Capital Of the State, for three months, which adver-
tisewents shalt state the amount IN the sinking fund
and the number of bonds numbering them in tho
order of their issuance, which such tnG - set apart
to nav and discharge; and il sdch bonds, so num-
bered in such sdversen ents, shalt not be presented
for Dayrnent md cancellation within three months
from the expiration OF such publications then such
fund shall remain in the Treasury to discharge such
bonds whenever presented they shai! ORA" no
interest after such publication as last aforesaid
Sec. &. The Treasurer state shall keep full and
particular account and record OF all his proceedings
under this Act. and of the bonds redeemed aud sur
rendered. md he shall transmit to the Governor an
abstract of all his proceedings uDner 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 omen to the inspection of any party interest
ed or the Governor, or the Attorney General or
committee of either branch of the Legislature, or
joint committee OF both.
Sec o. 1t shall be the duty of the Treasurer 70 pay
;he interest on snd bonds when the fills due.
out of said interest fund, ii sufficient and If said fund
be not sufficient then TO pay the dedcencv out of
the General Fund proridgd that the Comptroller OK
payabe to the order Of said Treasurer for the amour,
of interest money about to become due. which said
interest warrant shall be drawn at least one month
previous to the maturing of the interest.
Sec. 10. 1t shall be he duty of the Governor and
Comptroller TO attend at least once In each month
at the Treasurer's Office while said bonds are being
issued. 10 examine all claims received by the rrea
surer as aforesaid aud cause the same TO be regis