Butte record. (Bidwell, Butte County, Cal.) 1853-1858, 1857-06-06
LEGAL NOTICES.
[BY AUTHORITY
ote on the state Debt

Witness my hand, and the great seal of State. al
OF in Sacramento California the twenty day
of May, A. D. 1887. DAVID F. DOUGLAS.
[sEAL.l Secretary Of State
CHAPTER cCMLIv.
An Act to provide for Paying certain Equit-
able Claims against the State of Califor-
MIA. and to contract Funded Debt for
that purpose.
Tae Peelle o. State Of California; represented
S,n lte and assembly. DO enact as foAogs:
SECTION |. For the purpose of liqudating, ftind-
ing and paying the claims against the Stale of Cali.
farnin, hereinafter specified. the Treasurer of State
shall 10 be prepared suitable bonds OF the State
of California, exceed the three millions
nine hundred thousand dollars, bearing interest at
the rate OF seven pei Cent per annum from the GATE
of their issue payable at the State Treasurers Office
on the r-t day of July one thousand eight hundred
and Sc enty seven. the interest accrun2 slid
bonds shall be due and PAYABLE at the Office of the
Treasurer of Slate the first day OF January and of
July of each year. Pfocided. That the fret pay men
Of interest shall not be made before the first day OF
ia nary th0usund eight hundred and fifty nine
Said bonds shall he signed by the Governor. and
counlersigned by the Comptroller. and endorsed by
the Secretary of State and shall have the seal of the
State afixei thereto.
Sec 2. Coupons for thu interest shall be attached
to each bond. that they may be removed without
injury or mutlation to the bond. Said coupons,
secuvely numbered, shall be signed by the Treas
of State.
Sec. s. 1t shall be the duty of the Treasurer and
Comptroller OF State each 10 keep separate record
Of all such bonds as may be ssuel, showing the
number date and amount of each bond, and 10
whom the same issued. and upon what claim
and its amount: and of the Claims herein spe
Gifted shall be liqu.daed or paid but in the manner
herein provided
Sec. q. The sum of one thousand dollars is hereby
appropriated of any money in the Treasury not
otherwise appropriated 10 pay the expense that may
be incurred by The Treasurer in having said bonds
prepared, but the Comptroller shall not draw his
the Treasury for this amount until there
is money therein 10 pay The same.
Sec 5 All persons having any of the claims ag inst
the state of California entitled 10 be funded here
nafier specified, shall upon the presentation ef the
same to the Treasurer OF The State, receive in
change therefor bond bonds OF the State of
California provided for in The first session OF this
Acl: but bond shall be issued for less than
1--WE hundred dollars. nor for fractional parts of n
hundred dollars, but ihe Treasurer may issue Ger
| iifcaies such fractional parts not bonded, which
said ceriic shall be transferable ard entitled To
! be funded before provided The Treasurer shall
endorse, the back of each caila received and
1 lamdated the date which he received tie
/ and from whom. and the number OF The bond issued
In exchange iherefa-. aid such claim shall filed III
/ the office Of the Secretary of STATE.
Sec o. For the pay ment thin twenty years of the
principal and interest OF the bonds issued under this
Act. there shall be levied annually, until the bonds
I paid and promptly collected in the sam manner
| as is may be provided by law for ordinary State
taxes tax of thirty cents each one hundred dol
lars Of the assessed value OF real and personal pro-
perry in the State, and the fund derived from this
tax shall be SET apart AMI applied exclusively 10 the
payment of the interest the bonds herein prOvid-
ed. and the final redemption OF the principal of said
4 bonds. and the Faith of the State of Califor j.
hereby pledged for the payment herein provided
bonds issued by virtue of this Act, and the
teresi thereon and al moneys that may be lived
by the State of California from the United States
Government on account OF the Civil Fund, called
are hereby irrevoeably pledged 10 the payment of
the principal and interest the bonds issued under
this Act A wiiul refusal neglect by Supervisors
or any olher officer 10 Ivy 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, by imprisonment III he county jaii
exceeding six months, or by bulh such me and
imprisOnmz ut.
See. I Whenever, on the first day Of January OF
July in any year, there remains, after the payment OF
the interest as hereinafter provided, surplus of ten
thousand dollars ore, it shall be the duly of The
Treasurer advertise for the space of one week. in
one daily paper published in English III the city
New York, and for one month in one daily newspa-
per published in English at the state Capital Tor
sealed proposals to be opened one month after the
expiration OF such publications by the Treasurer in
presence of The Governor Comp roller, at the State
Capital for the surrender of bonds issued under this
Act which advertisement shall state the amount Of
money he has hand for the purpose of redemption
and they shall accept the loves proposals, Al rates
not exceeding par value may redeem the greatest
amount Of bonds until the amoun' OF cash on hand
for redemption is exhausted; Irsrided, houerer, in
case a sufficient amount ol such bonds shall not be
offered as aforesaid exhaust the sinking fluid
less amount than ten Thousand dollars. then il is
hereby made the duty OF the Treasurer to advertise
in tw new spapers, in New York and 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 i'll the
order of their issuance, which such fund apart
to pay and discharge: and if sach bonds, so num-
bered in such advertiser ens, shall not be presented
for payment and cancellation within three months
hoo xnir uti pt urh rb surI,
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 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 the Governor an
abstract of all his proceedings this Act with
his annual report. be by the Governor laid before
the legislature and all books and papers pertain
ing The matters provided for in this Act, shall at all
times be open The inspection of any pa ty interest
e,l, the Governor, or The Attorney General,
committee OF either branch of the Leg stature, or Il
joint committee OF both.
Sec g. 1t shall be the duty of She Treasurer to pay
the interest ON said BOMBS when the same lis due
odt of said Interest fund it sH lent and if said fund
be sufficient then 10 pay the deficiency out OF
the General Fund prorided that the Comptroller of
State shall first draw his warrant the Treasurer,
payable to the order of said Treasurer for the amon
OF interest money about TO become due, which said
interest warrant shall be drawn at least one month
previous 10 the maturing of the interest.
See TO- 1t shall be The duty of the Governor and
Conn troller to attend, ut least In each month
at fle freasuYer's office while said bonds are being
issued. examine NJ claims received by the Tres
aforesaid. aud cause the same to be regis
tered and cancelled in such manner as to prevent
them from being re-issued or put ia circulation.
Sec II The following specified the claims
which 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 1852 1858
1875, and 1856, which outstanding, with in
ierest due Oh the same when presented. appears
-Y.If ILL.,
drawn under the sanction of law. civil expenses
Prior to January lst A. ID. 1851. and now outstanding
ahf Unpaid, but the provisions of this Act shall moi
authorize the funding OF Of those warrants ths,
rtgistraion and endorsement of which cancelled
by the provisions of San Act to cancel The rerfs,r;
amt endorsement of certain warrants and pronibit.
ing the payment OF the same, approved January Both
A. ID $3.50 or warrants which have been specifically
adjudged illegal by any Court, and all said warrants
specified in the last mentioned Act are hereby ex
pressy excluded from all the benefits and provisions
Of this Act. Third. just legal claims against the
Stae ccrued prior 10 January LIST. 1857. and which
may be allowed and audited by Act Of the Legislature
And if The Treasurer of Stale shall wiIfuly issue
bonds upon claims not herein specified as receivable
1t shall be deemed msde'neanor. aid shall be pun
ished as provided in section ollhis Act and such
bond shall be void.
Sec. Il. The CLAIMS specified in this Act NAV be re-
ceiyed fer funding and bonds therefor NAV be issued
prior to the first day of january 1850 but not alter
wards; ana all claims not presented funding pri-
TO that time, excluded fiom the provisions of
this Act and such blank bonds prepared under the
provisions of This Act as shall then remain on ham,
shall be cestroyef in the paesence of the Governor
Comptroller and Treasurer.
sec Is. Ibis Act shall take effect on the first lay of
November y D. 1857. as 10 all its provisions. except
those relating to- and necessary for submission to
The peupie and FOR returning. canvassine and pro-
Ginning Ike voies-which shall take effect imnedi-
aely.
sec.ll Tins act shall be submitted tothe people Of
me safe oT their ratification, at the general
election, :" be holden on the first Wednesday of Sep
tenher, A. D. 1851 aud The qualified electors of this
Stale t.-tit ats ii oh h.It