Butte record. (Bidwell, Butte County, Cal.) 1853-1858, 1857-06-27

countersigned by the Comp'rolier- ana enuorseu D!
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 muiilation TO the bond. said coupons, con
secutiyely numbered shall be signed by the Treas
of State.
Sec. g. 1t shall be the duty of the Treasurer and
Comptroller oil State each 10 keep separate record
IF all such bonds as may be issued, sh owing 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 cairns herein spe
Gifted shall be liuuidated paid but in the manner
herein provided.
Sec L. The sum of one thousand dollars i hereby
appropriated out of any money in the Treasury not
Otherwise appropriated to pay the expense that may
be incurred by me Treasurer in having said bonds
prepared. but the Comptroller 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 10 he funded as here
matter specified, shall. upon the presentation of the
same to the Treasurer OF The STATE, receive in ex-
change therefor bond bonds of the State OF
California provided for in the first session of this
Act; but no bond shall be issued for less sum than
hve hundred dollars. nor for fractional parts of
hundred dollars. but the Treasurer may issue GER
ticaies OF such fractional parts not bonded, which
said certifc shall be transferable and entitled to
be funded as before provided The Treasurer shall
endorse, on the back of each claim so received and
quidated the date or which he received the same.
and from whom. and the number Ct the bond issued
in exchange therefor, AID such claim shall DE filed in
the office of the Secretary of state.
Sec 4. 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 sam manner
ia or may he provided by Law for ordinary State
tax of thirty cents on each one hundred dol
lars of the assessed value OF real and personal pro-
ptry in the State, and the fund derived from this
lax shall be set apart AMI applied exclusively 10 the
payment OF the interest the bonds herein provid
dam ~ ffn lfc.s
bonds and the faith of the State of Califor ia is
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 account OF the Civil Fund. called
are hereby irrevocably pledged 10 the payment of
the principal and interest the bonds issued under
this Act wilful refusal or neglect by Supervisors
or any her officer Wy collect the tax imposed
by this Act, shall BE- msdemeanor, and the person
or persons convicted thereof shall be removed from
Office and punished by fine not exceeding one thou
sand dollars. or nv imprisonment in the county Jail
not exceeding six months, or by both such fine and
mprsoDm' mt.
Sec. 7 Whenever on the first day of Jfnuary or
July any year, there remains after the payment Of
the interest hereinafter provided surplus of ten
thousand doilars ore, It shall be the duty of the
Treasurer to advertise for the space of week in
one daily paper published in English. in the city of
New York, and tor one month in one 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 the Governor or Comp roller at the State
Capital for the surrender of bonds issued under this
Act which advertiser ent 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 exceeding par value may redeem the greatest
amount of bonds until the amount of cash on hand
for redemption is exhausted 1rarided, horere, in
cnse a sufficient nj such bonds shall not be
offered aforesaid, to exhaust the sinking fund
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 at the
Capital of the State, for three months, which adver
tisements shall state the amount in the sinking fund
and the number of bonds numbering them in the
order of their issuance, which such fud set apar
to pay and discharge; and If sdch bonds, so nun.
bered in such advertiser ents shall not be presented
for payment and cancellation within three months
frorI The expiration OF such publication, then such
fund shall remain in the Treasury to discharge such
bonds whenever presented-bul they shall draw no
interest after such publication last aforesaid.
Sec. s. The Treasurer OF State shall keep full and
particular account and record of all his proceedings
under this Act, and of the bonds redeemed aud sur
rendered. md he shall transmit to the Governor an
abstract of all his roeeedings 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 in this Act shall all
times be open the inspection of any pa ty interest
ed. or the Governor, the Attorney General, or a
committee of either branch of the Legislature, or a
joint committee of both.
Sec o. 1t shall be the duty of the Treasurer to pay
the interest on said bonds when the same Ills due
said interest fund ii sufficient and if said fund
be not sufficient, then 10 pay the deficiency out OF
the General Fund.- proridd, that the Comptroller of
State shall first draw his warrant the Treasurer
payable to the order of said Treasurer for the amou
OF interest money about to become due, which said
interest warrant shall be drawn at least one month
previous to the maturing of the interest.
Sec. 10. 1t shall be The dny of the Governor and
Comptroller to attend, at least once In each month
ut the Treasurers cffice, while said bonds are being
issued, to examine all claims received by the Trei-
Sf,re af, md tba l.ar
tered and cancelled in such manner as TO prevent
them from being re-issued or put ia circulation.
Sec. II The following are specified as the claims
which are entitled 10 be received and funded under
this Act First Civil bonds of the State issued under
the funding Acts passed in the years 1851, ls52 1858
1855, and 1856. which now outstanding. with in
terest due on the same when presented. appears
by the coupons. Second Comptroller's warrants
drawn under the Sanction of law, civil expenses
prior to January LIST, A. ID. 1s57, and outstanding
ana unpaid but the provisions of this Act shall not
authorize the funding at of those warrants the
registration and endorsement of which cancelle1
by the provisions san Act Ia canc, the regIstr-
and endorsement of certain warrants and prohbit-
ing The payment OF the sama' approved January Both
A. d 1856 or warrants which have been specifically
adudged illegal by any Court, and all said warrants
specified in the last mentioned Act are hereby ex
pressy excluded from all the benefits and pr visions
of this Act. Third. Just legal claims against the
State ccrued prior TO January LIST. 1857. and which
may be allowed and audited by Act of the Legislature
And if The Treasurer of State shall wiy issue
it shall be deemed msdemeanor and shall ne pun
ished as provided in section oithis Act and such
bond shall be void.
Sec. Il. The CLAIMS specified in this Act may be re-
ceived for funding and bonds therefor may be issued
prior the first day of January 1850 but not after
wards; ana all claims not presented for funding pr
that time, excluded fiom the provisions of
this Act. and such blank bonds prepared under the
provisions of this Act shall then rtman hand
shall be destroyed in the paesence of the Governor,
Comptroller and Treasurer.
Sec 49, This Act shall take effect the first day of
November. A. d. 1857. 10 all its provisions, except
those relating TO, and necessary for its submission to
the people. and for returning. canvassing and pro-
claiming Il e yotes-whch shall take effect immedi-
ately.
Sec II This act shall be submitted to the people of
the State for their ratification, at the next general
election, TO be holden the first Wednesday of Sep
iemher, ~ d. 1851 and the qualified electors of this
State shalt al sid election on their ballots for State
the same. shall write or have printed their ballots,
the ords -Pav The DebI' and those voting against
the same. shall write or have printed their ballots
the words .'Repudiaie the Debt
sec. Is. The votes cast for and against this Act,
shall he counted. returned and canvassed. and de-
clared in the same manner and subject 10 the same
rules for the Treasurer of State and if it
appear that majority of all the votes cast for
against this law aforesaid. in favor of this Act
then rhe-same shall have effect hereinbefo-e pro-
vded and shall be rrepeaIabe until the interest of
The liabilities herein created shall be paid and dis
charged. and The Governor shall make proclamation
thereof; but if majority of the votes SO cast are
against this Act, then the same shall become void
Sec L. 1t shall be the duty of the Secretary OF
state to have this Act published in one newspaper
n each sudicia District of this STATE if one be pub
ished therein for three months next proceeding the
General election to be holden upon the first Wefnes-
Inv of September next. for which publication no
.rearer allowance shall be made than tAe rates al
1911 H. L. ba Eeafa Drfn