Oroville daily Butte record., 1857-08-28
LEGAL NOTICES.
tBY AUTHORITY.l
Vote on the state Debt.
0rYIcE OF SECRETARY or STATE.
Sarrame nfn. California. MAY 20, 1851.

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 Calorno, represented in
| Sen1te and .assembig, do enact ms foHoNs
! SECTION For the purpose of liquidating, fund
in T. and paying the claims against the state of Cali.
foruia, hereinafter specified, the Treasurer of state
shall TO be prepared suitable bonds ot The state
of California. not To exceed the sum ol three millions
nine hundred thousand dollars. bearing interest al
the rate of per cent per annum from the GATE
of their issue, payable at the State reasurers Office,
on the first day OF July. one thousand eight hundred
and seventy.seven: the interest accruing on s1id
bonds shall be due and PAYABLE ht the office of the
Treasurer of Slate on the first day OF January and of
July OF each year. Procided. That the fr.t pay ment
Of interest shall not be made before the hrsi day OF
la uary, thousand eight hundred ana fifty nine.
| Said bonds shall be signed 10y the Governor. and
couutersgned by the Comptroller, and endorsed 10y
the Secretary of State and shall have the seal OF the
State affixed thereto.
| Sec . Coupons for the interest shall be attached
to each bond So that they may be removed without
injury mutlation to the bond. said coupons con-
secutvely numbered. shHi be signed by the Treas
urcr OF state.
Sec g. 1t shall he the duty of the Treasurer and
Comptroller OF State ench to keep separate record
of all such bonds inay be issued. showing the
ndmber date aud amount of each bond, and tn
whom he same issued and upon Whal claim,
and its amount: and none of the Clans herein spr-
Gifted shall be quduted or paid but In the manner
herein provided
Sec J. 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 me 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. g. All persons having any ofthe claims against
The state of California; entitled TO be funded rs here
nafler specified, shall, upon he presentation of the
same to the Treasurer OF the STATE receive in cX>
change therefor hOud or bonds of the state of
California. provided for ia the first session ot this
Act: but bond shall be issutd for less sum than
five hundred dollars. nor for fractional parS of
hundred dollars, hut the Treasurer may issue GER
tltcates Oi such fractional parts not bonded, which
said certificates shall hc transicranir aud entitled to
be funded before provided The Treasurer shall
endorse. on the back of each Claim received and
lQudatcd. the date on which he received tNe same,
and from whom. and he number Ct the bond issued
in xchange lheretn-, and such claim shall Oe fled In
the Office of the Secretary Of state.
Sec 6. For the payment within twenty years of tie
principal and interest Ot the bonds issued under THIS
Act. there shall be levied annually, unrll the bonds
are paid, and promptly collected in the sam manner
~ il or may be provided by aW for ordinary state
taxes. of thirty cents each one hundred dol
lars OF the assessed value OF real and personal pro-
ptry in the state, and the fund derived from this
tax shall be set apart AMI applied exclusively 10 the
payment OF the interest on the bonds herein prnYid.
ed. and the final redemption of he principal Of said
bonds aud the faith Of the state Of CalilOr IN i
hereby pledged for the pay men aS herein provided
OF The bOiNS SstifO DN N!Fiue III l~ Ac. anu llc III
terest thereon and a moneys that may be received
by the state of California rom the United states
Government on account OF the civil Fund. 50 called
are hereby irrevorahly pledged TO the paymen, of
the principal and interest on the bonds issued under
this Act wilful refusal or ne glect by Supervisors
or any other officer 10 levy or collect the tax imposed
by this Act shall be misdcmrauur. and the person
or persons convicted thereof shall be removed from
office and punished by Zine not exceeding one thou-
sand dollars, or by imprisonment in The county jail
not exceeding six months, or by both such fac and
imprisonment.
Sec !. Whenever, the first day of Jfnuary or
July in any year, there remains, after the payment of
the interest hereinafter provided, surplus OF ten
thousand dollars ore, It shall be the duy of the
Treasurer 10 advertise for the space OF one week in
daily paper published in English, in the city of
New York. and for one month IN one daily newspH-
per published in English at the state Capital, for
sealed proposals. to h" opened one month after The
expiration Of such publications by the Treasurer, in
presence Of The Governor or OrCOmpruler, at the State
Capital for the surrender Of bonds issued under this
Act. which advertisement shall state the amount of
money he has on hand for the purpose of redemption,
and they shall nccept the loves proposals, al rates
not exceeding par value rs may redeem the greatest
amount OF bonds until the amount of cash ON hand
for redemption is exhausted; Tro1ided hotrerc, in
n sufficient amount o such bonds shall not be
offered 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 news papers, one in New York and ono AT the
Capital of the stale, for hree months, which adyer-
tisements shall state the amount in the sinking fund.
and the number of bonds numbering them in tho
order of their issuance. which such fund apart
to pay and discharge and il sdch bonds, 80 mum
bered in such advertiser enl>, shall not be presented
for ayment and cancellation within three months
from The expiration OF such publications then such
fund shall remain in the Treasury to DISCHARGE such
bonds whenever prescnted-but they shall draw no
interest after such publication as last aforesaid.
Sec 8. The Treasurer oI State shall keep full and
purticular account and record OF a his proceedings
under this Act, and Of the bonds redeemed and sur
rendered. md he shall transmit to the Governor an
abstract of all his proceedings uuer this Act, with
his annual report to be 10y the Governor laid before
the Legislature and all books and papers pertain
ing to The matters provided for in this Act, shall at all
times be open TO the inspection of any pa ~ interest
ed or the Cover nor, or the Attorney General, or a
committee of either branch OF the Legislature, or
Joint committee oi both.
Sec O. 1t shall be the duty Of the Treasurer to pay
ihe interest on said bonds when the same falls due.
out of said interest fund, ii sufficient and if SAID fund
be not sufficient. then to pay the deficiency ont OF
the General Fund proridrd that the Comptroller of
State shall first draw his warrant on the Treasurer,
payable the order OF said Treasurer TOR the amount
of interest money about to become due. which said
interest warrant shall be drawn NJ least one month
previous To the maturing of the interest.
Sec. 10. II shall be lhe 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, to examine all claims received by the Irea-
surer as aforesaid, aud the same to be regis
tered and cancelled in such manner as 10 prevent
them from being re-issued or put ia circulation.
Sec. IL. The following are specified us the claims
which are entitled TO be received and landed under
this Act First Civil bonds of the State issued under
the funding Acts passed in the years 1881, le52 b3
1855. and 1885, which are nov outstanding, with In
terest due on the same when presented. as appears
by the coupons. Second, Comptroler's warrants
drawn under the sanction of law, Tor civil expenses
PRIOR to January LIST, A. d. 1o57 and now outstanding