Oroville daily Butte record., 1857-07-28
LEGAL NOTICES.
tBY AUTHORITY.l
Vote ON the state Deb t.
0vYfcE OF SECRETARY OF STATE.
sacranentO. California. MAY DC, 1857.

Stule Oh lne State OF Cdilofnid' 90 hefcoy OoI'
ty 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 twentysxth day
of May, A. D. 1887. 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 q Funded Debt for
that purpose.
The People Of the Stat. of California represented in
Senate and Assembly. do enact as totiors:
SECTION 1. For the purpose of liqudating, fund
ing and paying the claims against the state or Calf
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 seven per cent per annim from the date
of their ISSUE payable at the State Treasurers office,
the first day of July, one thousand eight hundred
and seyenty.seven: the interest accruina on said
bonds shall be due and payable nj the ONCE OF the
Treasurer of Slate on the first day Of January and of
July of each year, Provided, That the first payment
of interest shall not be made before the first day of
January, one thousand eight hundred and fifty 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. that they may be removed without
injury mutlation TO the bond. said coupons, con-
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 rs 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 liquidaed or paid but in the manner
herein provided.
Sec 4. The sum of one Thousand dollars is hereby
| ri mn ed M % Treasury
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 on 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 TO be funded as here
inaer specified, shall, upon the presentation of the
same to the Treasurer of the State. receive in ex>
change therefor a bond or bonds of the State of
California provided for in the first session of this
Act: but bond shall be ISSUED for less sum than
five hundred dollars, nor for fractional parts of
| hundred dollars, but the Treasurer may issue GER
tiGCates OF such fractional parts not bonded. which
said certificates shall be transferable and entitled 10
! be funded before provided The Treasurer shall
endorse, on the back of each claim received and
liquidaed. the date which he received the same.
and from whom, and the number OF the bond issued
in exchange therefor, aid such claim shall De filed in
the Office of the Secretary of State
Sec 6. 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 coecedn the same manner
as is may be provided by law for ordinary State
taxes, of thirty cents each one hundred dol
lars of the assessed value Of real and personal pro-
pertv in the State. and the fund derived from this
tax shall be set apart an1 applied exclusively to the
payment of the interest on the bonds herein provid-
ed and the final redemption Of the principal Of said
bonds. and the faith of the State of California il
hereby pledged for the payment as herein provided
of the bonds issued by virtue Of this Act and the in
terest thereon and all moneys that may be received
by the State of California 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 on the bonds issued under
this Act wilful refusal neglect by Supervisors
or any Other officer TO levy collect the tax imposed
by this Act. shall be misdemeanOr, 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 county Jail
not exceeding six months, or by both such fine and
| imprisonment.
Sec. 7. Whenever, on the first day Of Jenuary or
July in any year, there remains, after the payment of
the interest hereinafter provided, surplus of ten
thousand dollars or ore, IT shall be the duty of the
Treasurer to 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 newspa-
per published in English ut the State Capital, for
sealed proposals. to be opened one month after the
expiration of such publications by the Treasurer, in
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 ot
money he has on hand for the purpose OF redemption,
and they shall accept the OWest proposals, NJ rates
not exceeding par value as may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted; Trooidcd ho,cerer, in
case Il sufficient amount o such bonds shall not be
offered. aforesaid, to exhaust the sinking fund to
less amount than ten thousand dollars. then 1t is
hereby made the duty OF the Treasurer to advertise
in two papers. one i'm New York and one at the
Capital of the state, for three months, which adyer
tsements shall state the amount in the sinking fund.
and the number of bonds numbering them in tho
order of their issuance, which such fund Is set apart
to pay and discharge and if sdch bonds so num-
bered in such advertiser ents, shall not be presented
for payment and cancellation within three months
from the expiration OF such publication, then sGch
fund shall remain in the Treasury TO discharge such
bonds whenever presented-but they shall draw no
interest after such publication as last aforesaid.
Sec. 8. The Treasurer State shall keep fun and
particular account and record of all his proceedings
under this Act and of the bonds redeemed and sur
rendered, ind he shall transmit to the Governor an
abstract of all his proceedings uhuer this Act with
his annual report to he by the Governor laid before
the Legislature and al books and papers pertain
ing TO the matters provided for in this Act, shall at all
times be open to the inspection OF any pay interest
ed or the Governor, or the Attorney General, or
committee of either branch of the Legislature, or
Joint committee OF both.
Sec o. II shall be the duty of the Treasurer to pay
,he Interest said bonds when tho same falls due.
out OF said interest fund it sufficient and II said fund
be not sufficient, then 10 pay the deficiency out OF
the General Fund prOrided. that the Comptroller OF
state shall first draw his warrant on the Treasurer,
payable TO the order of said Treasurer for the amount
of interest money about to become due, which said
interest arrant shall be drawn at least one month
preyious to he maturing of the interest.
Sec. 10. II shall be The duty of the Governor and
Comptroller 10 attend, at ieast once III each MONTH
at the Treasmrers Office, while said bonds are being
issued 10 examine all claims received by Inc Irea-
surer as Aforesaid, aud cause the same TO be regis
! tered ed i'm such manner as 10 prevent