The Nevada journal. [volume] (Nevada City, Calif.) 1851-18??, 1857-08-07

thousand dollars bearing interest seven
per cent per from the date of their issue payable
the State Treasurers office, the first day July
thousand eight hundred and seventy seven the in
accruing said bonds shall be due and payable
the Office OF the Treasurer of State the first day
January and Of July of each year: Pr01ded That the
first payment of interest shall not be made before the
first day Of January thousand eight hundred and
fifty Said bonds shall be signed by the Governor
and eountersigned by the Controller and endorsed bv
the Treasurer OF state and shall have the seal of
State affixed thereto.
Sec > Coupons for the interest shall be attached to
each bond, that they may be removed without injury
mutilation the bond Said coupons corsecutivev
numbered, shall be signed by the Treasurer state
Sec 3. It shall be the duty Of the Treasurer and
Controller Of State each to keep separate record of
all such bonds may be issued, showing the number,
date and amount of each bond, and whom the same
issued, and upon what claim, and its amount and
of the claims herein specified shall be quidatcd
paid but in the manner herein provided.
Sec t. The of one thousand dollars is hereby a D.
proprated out of any money in the Treasury other
wise appropriated to pay the expense that NAV be in
CURED 10y the Treasurer in having said bonds prepared
but the Controller shall not draw his the
Treasury for this amount until there money therein to
pay the same.
Sec. 5 An persons having any Of the claims against
the State Of California entitled to be funded hereinaf
specified shall, upon the presentation Of fhe same
the Treasurer of State receive in exchange therefor
bond bonds of the State of California provided tor ia
the first section of this Act bat bond ssuen
less than i've hundred dollars fractional
al parts of hundred dollars. but Treasurer is
sue certificates of such fractional parts not bonded.
which said certificates shah be transferable and entitled
TO be funded before provided. The Treasurer shall
endorse the back OF each claim so received and qu
dated, the date which he received the same. and
from whom and the number of the bond issued in
change therefor and such claim shall be filed IN
fee of the Secretary of state. .
See. 8. 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 rs is or NAV
be provided by law for ordinary State taxes a Of
thirty each hundred dollars of the
value of real and personal property in the State and
derived this shall be apart and an
bonds herein provided and the final redemption of the
principal Of said bonds and TIE faith of the State OF Cal
ornia hereby pledged for the payment as herein pro.
vided of the bonds issued by virtue Of this Act and the
interest thereon and all moneys that may he received
by the Of California from tho United States Gov
creut Of the Civil Fund called are here
by irrevocabIy pledged the payment the principal
and interest the bonds issued under this Act will
full refusal neglect by Supervisors any other officer
to levy collect the taxes imposed by this Act shall be
misiemeanor, and the person or persons convicted
thereof shall be removed from Office and punished by
fine not exceeding thousand dollars, by imprson-
men in the county Jail not exceeding six months by
both such fine and imprisonment
Sec I Whenever on the first day of January or July
in any year there remains after the payment Of the
eres rs hereinbefore provided surplus of ten thous-
and dollars il shall be the duty the Treasurer
advertise for the space Of week, in daily
paper published in English in the city of New York
and Tor one month IN one daily newspaper published in
English the State Capital for sealed proposals TO be
opened month after the expiration of such publra-
tons by the Treasurer IN presence OF the Governor
Controller, at the State Capital, for the surrender Of
bonds issued under THE Act which advertisement shall
state the amount Of money he has hand for the par
pose OF redemption aud they shall accept the low pro
posas at not exceeding par value, may redeem
the greatest amount of bonds until the
hand for redemption is exhaustel prOrided borcrer
sufficient Of such bonds shall NOT be offer
ed aforesaid. exhaust the sinking FIND to a less
amount than ten thousand dollars then it is hereby
made the duty Of the Treasurer to advertise in two
newspapers enc in New York and one the apial of
this state, for three months which advertisement sal
state the amount in the sinking fund and the number of
bonds, numbering them in the Of their Issuance
which such fund set apart 10 pay and discharge. aud
if such bonds numbered in such advertisements 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 discharge
such bonds whenever presented but they SHAH draw no
interest after such publication as last aforesaid
Sec. 3 The Treasurer of State shall keep full and
particular account and record Of all his proceedings
der this Act, and of the bonds redeemed and surrender
ed and he shall transmit to the Governor an abstract of
all his proceedings under this Act with his annual re-
port be by the Governor laid before the Legislature
and all books and papers pertaining 10 the pro
vided for in this Act shall at all times be open the
specon of any party interested, the Governor the
Attorney General, or committee of either branch of the
Legislature, joint committee of both
Sec g. 1t shall he the duty Of the Treasurer to paw
the interest said bonds when the falls due, out
Of said interest fund If sufficient. and if said fund be not
sufficient, then pay the deficiency of the General
Fund: Proridei that the Controller of State shall first
draw his warrant on Treasurer pavabe TO the
der Of said Treasurer the amount Of interest money
about to become due, which said interest shall
be drawn at least month previous to the maturing
Of the interest.
Sec TO- 1t shall be the duty of the Governor and Con
troler to attend, least in each month at the
Treaurcr Office while said bonds being issued to
examine all claims received by the Treasurer aore
said and cause the to be registered and Cancelled
in such manner TO prevent them from being reissued
put in circulation.
Sec. H. The following are specified as the claims
which entitled o,be received and funded under this
Act First Civil bonds of the State issued undcr the
funding Acts passed in the years 1851 1852 1853 1855
and 1856, which outstanding with interest due
the same when presented appears by the coupons
Second Controllers warrants drawn under sanction
law for civil expenses prior TO January first a. D. 1857
and now outstanding and unpaid but the provisions
this Act shall authorize the funding of those
warrants the registration and endorsement of which
cancelled or required to be cancelled by the pro-
visions of AN Act to cancel the registration aud in
dorsement Of certain warrants and prohibiting the pay
ment of the same approved January Both 4 D. 1856
which have been specifically adiudged lille
gal by any Court and all said specified in the
last mentioned Act hereby expressly excluded from
all the benefits and provisions of this Act Third Just
or legal claims against the State accrued prior Janua
~ LIST, 1e57. aud which may be allowed and audited by
Act Of the legislature And if the Treasurer of State
shall wiully issue bonds upon claims not herein spec
ned as receivable it shall be deemed miscmeancr and
he shall be punished provided in section of this Act
and such bond shall be void
Sec - The claims specified in this Act nav be re-
ceived for funding and bonds therefor NAV be issued
prior to the first day Of January 1850 but not after
wards: and all claims presented for funding prior to
that time arc excluded from the provisions Of dis ic
and such blank bonds prepared under the provisions
this Act shall then remain hand shan be DESTROYED
in the presence Of the Governor Controller and Treas
Sec 10 This Act shall take effect on the first dav of
November, \. D. 1851. to all its provisions except
those relating TO- and necessary for its submission the
people and for returning canvassng aud proclaning
the votes-which shall take effect Immediately.
Sec II This Act shall be submitted the people of
the State for their ratification the general cleo
ton, TO be holden the first Wednesday September
d. 1857, and the qualified electors of this State shall
at said election their ballots for State officers
for or against this Act; those voting for the same shall
write or have printed on their ballots, the words PAY
the Debit; and those voting against the same, shall
write or have printed on their ballots the words Repu
date the Debt"
Sec 10. Thevotes cast for and against this Act shall
be counted, returned and canvassed and declared in
the same manner and subject the rules votes
cast Tor the Treasurer of State and fit appear that
majority Of all the votes for against this
as Aforesaid or in favor of this Act then the same shall
nave erect as herelnbefore provided and shall be
pe7aoie until the and interest othe liabilities
nereln created shall be paid and discharged and the
Governor shall make proclamation thereof; but if
majority OF the votes cast against this Act then
the same shall become void
Sec To- II sha be the duty of the Secretary ofState
to nave this Act published in newspaper in each J
dlclal District oil tins State if be published therein
for three months next preceding the general election to
be holden upon the first Wednesday of September next
for which publication. greater allowance shall be
made than the rates allowed by law tothe State Printer
Approved April 2sth 1857.
REMOVAL.
GREGORY s. SPARKS,