Oroville daily Butte record., 1857-07-29
LEGAL NOTICES.
TBY AUTHORITY.l
vote on the state Debt.
OFyrcE OF SECRETARY or STATE.
Gon.a-an,o raHfornia Nav Of 1877


the original Act now on file in my of1ce.
Witness my hand, and the great seal of State, al
OF CO in Sacramento California the twenty day
of May, A. D. 1857. DAVID F. DOUGLAS.
CsEAL.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
Se,sote and .4ssen,bly. do enact as fo9ops:
SECTION For the purpose of liquidatine, fund
ing, and paving the claims against the State Of Cali
orna, hereinafter specified. the Treasurer of State
shall to he prepared suitable bonds of the state
of California not 10 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 Ireasurers Office
on the r.t day of July. one thousand eight hundred
and serenty-seven the interest nccruing on said
bonds shall be due and payable at the office of the
Treasurer of State on the first day OF January and Of
July of each wear: PrOcided. That the first payment
Ofintrrest shall not be made before the first ddy of
ia" uary, one thousand eight hundred and fifty nine
! Said bonds shall be signed by the Governor. and
counersigned by the Comptroller. and endorsed by
the Secretary of state, and shall have the seal OF the
| State afiixei thereto
Sec 2. Coupons for the interest shall be attached
| to each bond so that they may be removed without
injury or mutilaon to the bond. Said coupons. con-
|
urer OF state
Sec 8. 1t shall be the duty of the Treasurer and
Comptroller OF State each to keep separate record
of all snch bonds may be issued, showing the
number. date anh amount of each bond, and to
whom The issued. and upon what claim,
and 1T amount and none of the c'ai'ns herein spe-
Gifted shall be liQudated paid but in the manner
herein provided.
Sec q. 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
| kn Nv ,a Iron in hnNfipg hnnH :
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. Ali persons having any OF the claims against
the State of California. entitled TO he funded here
nafier specified shall. upon the presentation al 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 tins
Act; but no bond shall he issued for less sum than
tive hundred dollars. nor for fractional parts of a
hundred dollars, but the Treasurer may Issue Ger
iGcates OF such iraciOnal parts not bonded, which
said certificates shall be transferable and entitled 10
be funded before provided The Treasurer shall
endorse, on the hack of each cnia 50 received and
lquidaled, the date on which he received the same.
and from whom. and the number ct tho bond issued
in exchange therefn-, aid such claim shall DC filed IN
the Office Of the Secretary Of state.
Sec g. 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 collected in the manner
az il or may he provided by law for ordinary state
taxes q tax of thirty cents on each one hundred dol
lars Of the assessed value Of real and personal pro-
pertv in the Staie, and the fund derived from this
tax shall be set apart AMI applied exclusively 10 the
payment OF the interest the bonds herein pToyd-
ed. and the final redemption Of ihc principal Of said
bonds and the faith of the State of Calior IA is
hereby pledged for the payment as herein provided
of the bonds issued by virtue Of This Act, and the in
terest thereon ard all moneys that may be received
by the state of Calriorna from the United states
Government on account of the civil Fund, so called
are hereby irrevocabiy pledged TO the payment OF
the principal and interest on the bonds issued under
this Act a wlfu refusal or neglect by Supervisors
or any oher officer To levy collect the tax imposed
by this Act, shall be mi,demeanor. 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 fne and
imprisonment.
Sec. 7 Whenever on the first day of January or
July in any year, there remains, after the payment of
the interest rs hereinafter provided surplus of ten
thousand dollars or Ore i shall be the duty Of the
Treasurer advertise for the space of week. in
one daily paper published in English, in the city Of
New York, and for one month IN ore daily newspa-
per published in English at the state Capital, for
sealed proposals. to be opened one month after the
expiration OF such publications by the Treasurer, in
presence of he Governor or Comptroller at the State
Capital for the surrender OF bonds issued under this
Act. which advertisement shall state the amount OF
money he has on hahd for the purpose OF redemption
and they shall accept the loves proposals, at rates
not exceeding par value may redeem the greatest
amount OF DOnuS untl tne amount OF chSn on nitiu
for redemption is exhausted; TroUided, howerer in
case sufficient amount oi such bonds shall not be
offered. as aforesaid, to exhaust the sinking fund to
less amount than ten thousand dollars, then il is
hereby made the duty OF the Treasurer to advertise
in two newspapers one in New York and one at the
Capital of the state, for hree months, which adver-
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 set apart
TO pay and discharge; and if sdch bonds, 50 num-
bered in such advertiser ens, shall not be presented
for payment and cancellation within three months
FROM The expiration OF such publication, then such
fund shall remain in the Treasury 10 discharge such
bonds whenever preseuted-but they shall draw no
interest after such publication Hs last aforesaid.
| Sec. g. The Treasurer oI state shall keep full and
particular account and record of all 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 unuer this Act, with
his annual report, to be by the Governor laid before
the Legislature !; and all books and papers pertain
ing to the matters provided for ~ 'h- tt' 3 -' ai
times be open to the inspection of nay
ed, or the Governor, or the Attorney Goae- .r
committee of either branch q the Leg = .u.- af
Joint committee OF both.
Sec O. II shall be The duty Of the Ire3s.fet 5, -l.
The interest on said bones when ihe ssuAe s ta
out OF said interest fund, it sufficient, ana , ..s
be not sufficient then 10 pay tho daH,igaia, at f
the General Fund pr0gided that the Npnnfrei.~ "
State shall first draw hii wGrrint On ihe
payabe TO the order of said Trcasurcr ior tAe -t
of interest money about TO become lue, h.ch ssil
interest warrant shall be drawn AT iesl ore t b.
previous to the maturing of The inieros,.
Sec. TO- 1t shall be lbe duty of the Coysfg3sg ss.
COMPTROLLER TO attend, az lelst once In each
al the Treasurer's Office, while said bonds are ba...
surer as aforesaid. aud cause the to 5e regi.
tered and cancelled in such manner as 10 pFe vt.i