Oroville daily Butte record., 1857-07-03


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 F. DOUGLAS,
[sEAL.l 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 .4ssembiy do enact as toiioUs:
SECTION For the purpose of iquida,ing, fund
ing, and paying the claims against the State Of Cali
forna, hereinafter specified, the Treasurer OF State
shall cause TO be prepared suitable bonds OF the state
of California. not to exceed the sum OF three millions
nine hundred thousand dollars bearing interest at
the rate of per cent per annum from the date
of their ISSUE payable at the State Treasurers office,
on the first day of July, one thousand eight hundred
and se' enty seven the interest accruiB2 on said
bonds shall be due and payable at the Office OF the
Treasurer of State the first day Of January ana OF
July of each PrOUided. That the first payment
of Interest shall not be made before the first day of
Ja- uary. one thousand eight hundred and hity nine.
Said bonds shall be 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 q Coupons for the interest shall be attached
TO each bond. so that they may be removed without
injury mutilation to the bond. Said coupons,
secutively numbered shall be signed by the Treas
urer of State.
Sec. 8. 1t shall be the duty Of the Treasurer and
Comptroller OF State each to 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 was issued. and upon what claim,
and its amount and none of the claims herein spe-
Gifted shall be liquidated or 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 tomplr"ller 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 here
inafler specified shall, upon the presentation of 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; but no bond shall be issutd for less sum lhan
five hundred dollars, nor for fractional parts of
hu uudred dollars, but the Treasurer may issue Ger
tihcaies OF such fractional parts not bonded, which
said certifc les shall be transferable and entitled o
be funded as before provided The Treasurer shall
endorse, on the hack of each claim so received aud
hqudated. the date on which he received the same
and from whom and The number Ct the bond issued
in exchange thercfa-. aud such claim shall Oe nleu IN
the office of The Secretary of state.
| Sec q. For the payment within twenty years of the
principal and interest Of the bonds issued under his
Act, there shall he levied annually, until the bonds
are paid, and promptly collected IN the sam manner
IA il may he provided by law for ordinary state
taxes tax of thirty cents on each one hundred dol
lars OF the assessed value OF real and personal pro-
pertv in the State and the fund derived from this
lax shall be set apart AMI applied exclusively 10 the
payment OF the interest on the bonds herein prOyd
ed, and The final redemption oil The principal OF said
bonds and the faith of the State of Calior III l.
hereby pledged for the payment as herein provided
of the bonds issued by virtue of Ibis Act and the i'll
terest thereon and all moneys that may be received
by the State of California from the United states
f a tlkff
are hereby irrevocably pledged TO the payment of
the princal and interest on the bonds issued under
this Act A wilful refusal neglect by Supervisors
or any olher officer TO hwy or collect the tax imposed
by this Act, shall be n miSdemeanur and the person
or persons convicted thereof shall he removed from
Office and punished by fine not exceeding one thou
sand dollars. or by imprisonment in The county jail
not exc, edi.g six months or by both such fine and
| imprisOnm' mt.
Sec. I Whenever, on the Grst day of Jfnuary or
July in any arr there remains, after the payment of
the interest hereinafter provided, surplus of ten
thousand dollars ore. II shall be the duty of the
Treasurer To advertise for the space OF one week IN
one daiiy paper published in English, In the city oi
New York. and Tor one month in one daily newspa-
per published in English AT the >tate Capital, for
sealed proposals. to be- opened one month after the
expiration OF such publications by the TREASURER in
pr of The Governor or Comp roller. nj 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 accept the loves proposals. at rates
not redilg par value aS may rtueep the pifaicsl
amount ct bunhs until the amuun ot cash ON hand
for redemLI lion IL exhausted; JT1otded hoCfreT. i'll
case sufficient amount "i such bonH- shall not be
offered. rs aforesaid TO exhaust the sinking mud To
less amount than ten thousand dollars, then It IS
hereby made the duty OF the Treasurer To advertise
in Two newspapers. one In New York and one AZ the
Capital of the state, for 'hree months. which adyer-
lseu,enls shall state the amount in the sinking fund
and the number of bonds numbering them in the
order OF their issuance, VIII ch such ihid Is sci apart
10 pay and discharge; and If sdch bonds 50 mum
beTld in such advertiser ents. shall noi be presented
for payment ind cancellation within three months
fron the expiration OF such publication, then snch
fnd shall RENAL in the Treasury To dischlrge such
bonds whenever presentcd-bul they shall draw no
interest after such publication a- ast aforesaid.
Sec. S. The Treasurer OI State shall Keep iul and
particular account and record OF 81 his proceedings
under this Act, and Of the bonds redeemed ard sur
rendered, md he shall transmii 10 the Governor au
abstract Of all his proceedings unoer this Act, with
his annual report. to he by the Governor laid before
the Legislature; and MI hooks and papers periain
ing TO The matters provided for in hs act, SHAH Mt all
lines be- open to the inspt ciOn of any pa ~ interest
ell, or the Governor, or the Attorney General or Il
committee of either branch OF the Leg stature,
Joint committee OF both.
Sec o. IL shall be the duty of he Treasurer 10 pay
ihe interest said bonds when the same talls due
out OF said interest fund II sufficient, aud II SAID fdnd
be not sufficient, then to pay the deficiency out OF
the General Fund; prorided, that the Comptroller OF
State shalt first draw his warrant on the Ifeasarrr,
pnyable To the order Of said Treasurer TOR Tho
of interest money about to become due, which ,qid
interest warrant shall be drawn at least one month
previous Ia ;he maturing Of The Interest.
Sec IL. ID shall be lbe duty OF lbt GOFencr and
Comptroller To attend. at leas once ln each month
at the Treasurers Office, while said bonds are beiug
issued, 10 examine all claims received ~ he tea
surer as aforesaid, aud Cause the same Ia BE- regis
tered and cancelled N such MANNER n 20 prevent