Oroville daily Butte record., 1857-09-04
LEGAL NOTICES.
tBY AUTHORITY.l
' Ote on the state Debt.
OFFIcE or SECRETARY or STATE.
Sacramento, California, May 26, 1857.

OF in Sacramento California the twenty sixth DAY
Of May, 4. D. 1857. DAVID F. DOUGLAS.
lsEAL.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 Peope Of the St1te Of California, represented
Senate and .fssem5ly. do enact as foBors:
SECTION For the purpose of liquidaing, fund
ing, and paying the claims against the state of Cali
fornia, hereinafter specified. The Treasurer of State
shall cause 10 be prepared suitable bonds Of the state
OF California, not to exceed the sum of ihree uillons
nine hundred thousand dollars, bearing Interest at
the rate OF seven per cent per Onnn from the nate
of their issue. payable al the state reasurers OfCa
on the frat day of July. thousand eight hundred
and se"enty.seven: the interest nccrun2 on sid
bonds shall be due and rHvable nt The office of the
Treasurer of State the first day January md of
July Of each wear: PrOrided. Tint the first pay ment
Ofinterest shall not be made before the Hrst day of
Ia uary. Cne thousand eight huuired Hni fifty nine
Said bonds shall tr signed bv the Governor and
cOunterSgned by the Comptroller and endorsed by
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 or mutatiOn 10 tn" bond. Said coupons, con-
secGtiyciy numbered. shall be signed 10y the Treas
uTer of Stgte
Sec 8. It shall be The duty Of the Treasurer and
Comptroller Of State each 10 keep separate record
IF all such bonds - may be issued. sh wing the
number. date and amount of each h0hd, and 90
whom he same WIS issued. and upon what clnim
and its amount: and none of the aims herein spe
Gifted shall be lquidued or paid but in .he manner
herein provided.
Sec 4. The sum of one thousand donrs il hereby
appropriated ont of nny money in the Treasury not
otherwise apnrop~ihei lo pay the expense that may
be incurred by he Treasurer in having said bonds
prepared, but the Comptroller shalt not draw his
warrant on the Treasury for hs amount until there
il therein u the
See. All persons having any of the claims ag inst
the State of California. entitled to he funded Il, here
inaFier specified, shall, upon the presentation "t The
SAME to the Treasurer OF The STATE, receive in ex>
change therefor bond or bonds Of the STATE eft
California provided for in The first Sesti ot this
Act: hu, 30 bond shall he issutd ilr Il less sun than
five hundred dollars. nor for fractional paris of
hundred dollars but The Treasurer may ISSUE
lifcates oi such ractioun paris not bonded. which
said cprifc ties shall he transferable aud entitled
be funded rs before provided The Trtasu shalf
endorse on the back of each claiIa received and
lIquidated the date which he received t'r same.
aud from whom. and The number It the bond ISSUED
in exchange lheref" ahd such claim shall be ded IN
the office Of the Secretary of state
Sec Is. For the payment within twenty years of the
principal and of the bonds is,uc4 u~er his
Act.th shall be levied anrually. until the bond,
nre paid. and promptly collected IN the sam manner
il OF may be provided ny law fIr ordinary state
taxes q tax of thirty cents each hundred dol
lars OF the assessed value G real anA prr-,Hl pro-
pern IN the state. and the fund derived from this
shall be set apart AMI applied exclusively To The
payment OF the interest on the bonds here4n provd
ed and the final redemption OF the principal nf said
bonds and the faiih of the Stale at tutOr IN j.
hereby pledged for the payment ns herein ur rvIird
of the bonds issued by virtue Of this Ari- sud the in
terest thereon and n moneys thai may be rec ived
by the State of California i'0m the s'rted States
Government on account oi The Civil Fund, so called
are hereby irrevorably pledged to the payment of
the principal and interest Oh the bonds issucd under
this Act A wilful refusal or neglect ny supervisors
any ol her officer 10 hwy cOlicC the tax imposed
by this Act shall be mi,demPanur. 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
imprisoAmen
Sec. Whenever, ON the first day of Jenuary
July in any year, there remains. after the payment of
the interest n hereinafter provided, surplus of ten
thousand dollars ore, t shal BE- the 'iuiy of the
Treasurer to advertise for the spnce of week in
one daily pnper published in Enesish, liz The city of
New York. AMI for one month IN one daily new spa-
Der pubi-hpd in EngIieh nj the state Capital for
sealed prOp0sais to br opened one month after the
expiration OF such publications by The Treasurer, in
presence If The Governor or Comp roller. ut 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 shalt acc-pt the loves proposals. at rates
not exceeding par Yalue rs mny redeem The greatest
amount of bonds uptiI the upOnnt OF cash on hand
for redemption is exhausted; qTorided, hoWerer, in
case sufficient amount al such bonds shall not be
u
less amount than ten Thousand dollars then it is
hereby made The duty OF the Treasurer tn advertise
in TWO newspapers. one IN New YORK nnc one nj the
CAPITAL of the State, for three months which udvcr
tispmpnts shall state the AMOUNT in the sinking fund
and the number of bonds numbering them in tho
order of their issuance which such fund set lpart
10 nay and discharge: and IL sdch bonds, 50 num-
bertd in such advertiser ents shall not be presented
for payment and cancellation within three months
FROM ihe expiration OF such publication, then such
f,ud shall remain i'll the Treasury discharge such
bonds whenever pre.ented-but they shall draw no
interest after such publication Us last cfore3aid.
See g The Treasurer OF State shall keep full and
particular account and record OF all his proceedings
undr, this Act. and of the bonds redeemed and sur
rendered. md he shall transmit TO the Governor an
absrn of all his proceedings unuer this Act, with
his annual report to be 10y the Governor laid before
the stature !; and all hooks and papers pertain
ing To The matters provided for in this Act, shall NJ all
lines be open to the inspection of any pa ty interest
ed .r the Governor, or the Attorney General, or
committee of either branch Of The Legislature, o. 4
Joint committee OF both.
Sec o. 1t shall be the duty Of the Treasurer 10 pay
he Interest ON said borus when the same falls due
ud Of said interest fund, ii sufficient and said fInd
be not sufficient. then 10 pay the deficiency out or
The General Fund: pTOuidd, 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 abOnt to become due, which said
interest warrant shall be drawn AT least one month
previous To the maturing OF the interest.
See. IL. 1t shall be lhe duty CT the Governor and
Comptroller to attend, at least once in each month,
at the Treasurers Office, while said bonds are being
Issued to examine all claims received by the Trea
surer as aforesaid. and cguse tho 10 be regis
tered aud cancelled in such manner as 10 prevent
them from being rcssued or put la circulation.
Sec II The following are specified rs the claims
which are entitled to be received and funded under
this Act: First Civil bonds of the State issued under
the funding Acts passed in the years 1851, 1882, 50
1853 and 1885, which are no" outstanding, with In