Oroville daily Butte record., 1857-08-17

tis that the annexed isa true and correct copy OF
the original Act now on file in my Office.
Witness my hand, and the great seal Of State, at
oG In Sacramento California. the twenty sixth day
OF May, A. d. 1857. DAVID F. DOUGLAS.
[sEALl Secretary Of State.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State Of Califor-
MIA. ani to contract u Funded Debt for
that purpose.
Tie Ptope Of ne S0te Of California, represented i"
Senate and .issembly. do enact as Jol'o~s:
SEcTloy For the purpose Of iquidaiing. fund
ing, aud paying the claims aga nN the state OF Cali
iornia, hereinafter specified. The Treasurer of State
shall cause r. be prepared suitable bonds OF the State
cf California. not to exceed the sum OF h-ee millions
nine hundred thousand dollars, hearing ia'erest at
the rate Uf per cent per aunnn from the GATE
Of their issue, payable mt the state IFeasnrers office.
the flrt day of July, one thousand eight hundred
and Fc' entv.scvon: The interest Hccruin2 on sqid
bonds shall be due and PAYABLE nj the Office of the
Treasurer of State the first day of January and Of
July of each wear: Pr0rided That the first payment
ofinterrst shall not be made before The first day of
Jn- nary. one thO"sand eight hundred and fifty nine.
Said bonds shall he saned Nv the Governor. and
countersgne1 by the CCmpirolle'. and endorsed by
the Secretary Of state, and shall have the seal of the
Sale afXei thereto.
SEC =. Coupon. for The interest shall be attached
to each hond SO thHt trey may be removed without
injury or mUlHjlCn 10 IN btlu. Shil coupons CON
secaiiyely numbered. shall be signed by the Treas
urer of state
SEC s. 1t shall he the duty Of tnc Treasurer md
Comptroller OF state each 10 keep separate record
# Hll such bonds rs may be issued. showing the
number. date and amount of each bond and Ia
whom he same was issued. and upon " Int claim
and H. amount: ard none uf the Gains herein spr
Gifted shall he hqu.dated or paid but in the manner
herein provided.
Sec j. The sum cf one housand dolars j. hereby
NJ proprated out of any money in the Trcasur, not
ttsrwise appropriated to pay the expense that may
be Incurred by ne Treasurer in having said bonds
prepared. but The tumpruler shall NOT draw his
warrant on the Treasury for hi~ amount until there
is money therein Ia pal The same.
Sec. All persons having any Of the cninis aglinsl
Ihe state of California Cnitlri tO he funded rs here
inafrr specified, shaft upon the presentation "i the
same to me reasUrrr 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; hui bond shall he issut for less sum ihan
live hundrCt, dollars. nor TER fractional paris ol
huudrcd duar>. bat The Treasurer may issue GER
tifCateS ~ such rnclioUa parts not bonded. which
said crrfc It's shalt be transferable ard etted to
be funded as before provided The Treasurer shall
endorse on the hnck of each claim So received and
quidnted. the date or which he received t'Ue same
aud from whom. and the number e The bond issued
in exchal &c thereto and such claim shall Oe filed IN
the Office oi The Secretary oi state.
Src 4. For the payment hin twenty years ofthe
principal and interest o the bonds issued under This
Acl. there shall be levied annually. until the hond-
are paid. ard promptly collected III the sam manner
40 il or may he proviied by law for ordinary state
taxes tax of thirty cents each one hundred dol
lars of the assessed value u real aud personal pro-
pert, ihe state. and the fund derived from this
tax shall be sci apart AMI applied exclusively To IN"
payment of the interest ON the bonds herein provd
ed. nnd The final redemp ion OF HE princpnl Uf said
honds and the fhiih of The state of 'alifOr IA i
her ehy pledged for The Taymrn ~ herein pr vidcd
of the bonds issued by virine uf tits Act. and The in
tpresl thereon and all moneys that may be received
hv the State OF California t"Cm The United STATES
Government uu account ot the civil Fund, so called.
nre bprchy irreyO"nhly pledged 10 the payment OF
the principal and lntrre.t on the bonds issued under
this Ac, \ wu refusal or neglect by supervisors
or any oher officer To W collect the tax imposed
hy this Act shall BE- y mi-drmrauor. and the person
or persons convicted thereof shHll be removed from
Office ard punished by fine not exceeding one tholl
sand dollars. ur by imprisonment in lhe count! Jail
not exc, pding six months, or by both such iue ana
mprisonm' nj.
Sec. Whenever on the first day of Jf nuary
Jul, in any there remains, after the payment OF
the interest as hereinafter provided surpiusot ten
thousand dollars ore / shall be the 'luy OF the
Treasurer TO ads rise for the space of one week in
daily paper published in Enslish Ia TIE city "f
New York. and tor one month IN one daily ncwspa-
Der publi.hed in Engiish mt the StHe Capital Tor
sealed proposals to be opened one month after the
expiration at such publications by the Treasurer, in
rr, snce e The Govern Comp roller. at the state
Capital for The surrender of bonds issued under this
Act, which advertise met shall state the amount of
money he has on haId for the purpose OF redemption,
and IhPv shall accept the loves proposals, at rates
not exc cdDg par value ~ may redeem The grtalesi
amount ui bonds until the amount OF cash on hand
for redemption Is exhausted: Trocided, hoWUe1, in
sufficient amount "i such bonds shall not be
ufie ed, as acresni1, to exhaust the sinking fund to
less amount than ten thousand dollars. then II is
hereby made The duty ot toe Treasurer To advertise
in TWO news papers, one in New York and unr nj The
CAPITAL of the state for :hree months, which adver-
tsements shall state III" oun in the sinking fund
and the number of bonds numbering them in Tho
order of their issuance. VIII Ch such fund IL set apart
10 nay and discharge: and if sdch bonds, so mum
bered in such advertiser ens. shall not be presented
for payment and cancellation within three months
fruui the expiration Ot such publication, then such
fund shall remain in the Treasury to discharge such
bonds whenever presented-but they shall draw 10
interest after such publication last aforesaid.
Sec. g. The Treasurer OF State shall keep full and
particular account and record O 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 this Act, with
his annual report to he by the Governor laid before
the Legislature and all books and papers perta n
ing The matters provided for in this ACT, shan mt a
times be open To The inspection "f any pa y interest
ell, or the Governor, or the Attorney General, Il
committee of either branch of the Leg stature or a
Joint committee OF both
Sec O. II shall be the duty of the Treasurer to pay
;he inerest on said bonds when the same lis due
out OF said Interest fund il sufficient AMI IT SAID fund
be not sufficient. then TO pay the deficiency Of
the General Funds prorided that the Comptroller OF
State shall first draw his warrant on the Treasurr
payable 10 the order u said Treasurer for the nmoH"l
OF interest money about to become Lue, which said
interest warrant shall be drawn at least one month
previous to the maturing of the interest.
Sec. ~. II shall be lhe duty of the Governor and
Comptroller To attend, at lelst once In each month
at the Treasurer's Office while said bonds are beirg
ssiied Ia examine all claims received by the Trea-