Oroville daily Butte record., 1857-07-23
LEGAL NOTICES.
tBY AUTHORITY
Vote on the state Debt.
ovFIcE or sEcREraRy or sTATr.

DAVID F. DOUGLASS. SECRETARY OF
State of the State Of California, do hereby GER
tiy that the annexed Is true and correct copy oi
the original Act now on file in my Office.
Witness my hand, and the great seal of State, at
of ce In Sacramento California the twenty sixth day
of May, A. D. 1887. DAVID F. DOUGLAS.
[sEAL.l Secretary OF State.
CHAPTER CCxLIv.
An Act to provide for Paying certain Equit-
able Claims against the State of Calfor-
MIA, and TO contract a Funded Debt for
that purpose
The Peope of the State of California -epresented in
Sen1te and .7sscmbly. do enact as folops:
SECTION For the purpose of lquidating, fund
iDg. and paying the claims against the Stale of Cali
fornia, hereinafter specified the Treasurer of State
shall cause to be prepared suitable bonds of the State
of California, not to exceed the of three millions
nine hundred thousand dollars, bearing interest at
the rate Of per cent per annum from the GATE
OF their issue, payable at the State 1reasnrers office,
the first day OF July. thousand eight hundred
and se'enty-seven The interest accrnine on said
bonds shall be due and PAYABLE at the office OF the
Treasurer of State the first day of Janunry and of
July of each wear: PrO1ided That the first payment
of interest shall not be made before the first day of
Ja~ nary, one thousand eight hundred and fifty nine.
Said bonds shall be signed by the Governor. and
conntersgned by the Comptroller. and endorsed by
the Secretary of State, and shall have the seal OF the
State affixed thereto
Sec 2. Coupons for the interest shall be attached
to each bond SO that they may be removed without
injury or mutiation TO the bond said coupons CON
secuyely numbered. shall be signed by the Treas
Of State.
Sec. g. 1t shall be the duty of the Treasurer and
Comptroller o State each 10 keep separate record
of ali such bonds rs may be issued, showing 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 claims herein spe
Gifted shall be liquidaed or paid but in the manner
herein provided.
see. j. The sum of one thousand dollars ia hereby
appropriated out of any money in the Treasury not
otherwise appropriated 10 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. All persons having any of the claims against
the state of California. entitled TO be funded as here
nafier specified, sha upon the presentation at 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 this
Act; but no bond shall be ISSUED for less sum than
five hundred dollars nor for fractional parts of
hu ndred dollars, but the Treasurer may issue GER
thcates OF such fractional parts not bonded, which
said certificates shall be transferable and entitled TO
be funded before provided The Treasurer shall
endorse. on the back OF each claim so received and
iqudated, the date on which he received the same.
and from whom. and the number q the bond issued
in exchange therefor and such claim shall oe fled in
the Office of the Secretary of State
u
principal and interest of the bonds issued under1his
Act, there shall be levied annually, until the bonds
paid, and promptly collected in the sam manner
as is or may be provided by law for ordinary state
taxes tax of thirty cents on each one hundred dol
lars of the assessed value Of real and persoRu pro-
pertv in The state. and the fund derived from this
tax shall be set apart AMI applied exclusively to the
payment of the interest on the bonds herein provid
ed. and The final redemption OF the principal of said
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
Govern ment account OF the Civil Fund.- so called.
are hereby irrevocably pledged to the payment of
the principal and interest on the bonds issued under
this Act wllful refusal or neglect by supervisors
or any oher officer TO levy collect the tax imposed
by this Act shall be a msdemeanor 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 III the county jail
not exceeding six months, or by both such hDe and
Imprisonment.
Sec. 7 whenever on the first day of JanHary or
July in any year, there remains after the payment OF
the interest hereinafter provided surplus of ten
thousand dollars Ore Il shall be the 'iuIy OF the
Treasurer 10 advertise for the space of one week in
one daily paper published III English, ia the city of
New York, and for one month in one daily neTspa- |
per published in English at the state Capital, for
sealed proposals. to be opened one month after the
expiration OF snch 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 advertisement shall state the amount of
money he has hand for the purpose OF redemption,
and they shall aecept the loves. proposals, at rates
not exceeding par value as may redeem The greatest
amount of bonds until the amount OF cash on hand |
for redemption is exhausled 1ropided, ho,oecer, in
case a sufficient amount oi such bonds shall not be
offered, aforesaid, to exhaust the sinking fund to
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 adser-
tisements shall state the amount IN the snRing fund
and the number of bonds numbering them III the
order of their issuance, which such fund IS set apart
TO nav and discharge and if such bonds. 40 num-
bered in such advertiser ents 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 To discharge such
bonds whenever preseBted-but they shall draw no
interest after such publication as last aforesaid.
Sec. 8. The Treasurer Oh State shall keep full and
particular account and record of all his proceedings
under this Act, and Of the bonds redeemed and sur
rendered. Ind he shall transmit to the Governor an
abstract of all his proceedings uiuer TINS Act with
his annual report to he by the Governor lad before
the Legislature /; and all books and papers pertain
ing to the matters provided for in this Act, shall at all
times be open to the inspection of any party interest
ell or the Governor, or the Attorney General, or
committee of either branch cf the Legislature, or
Joint committee OF both.
Sec Q. 1t shall be the duty of the Treasurer ~ pay
The Interest said bonds when the same f'ls due
out OF said interest fund.- il sufficient, and II sad fund
be not sufficient, then To pay the deficiency out OF
the General Fund prorided that Inc Uomproher o'
State shall first draw his warrant on the Treasurer,
PAYABLE to The order Of said Treasurer for the amon
of interest money about to become iue, which said
interest warrant shall be drawn at least one month
previous to the maturing of the interest |
Sec 10. IL shall be The duty of the Governor and
To attend, at lesst once In each month
at the Treasurgr's Office, while said bonds are being
issued, to examine all claims received by the Tre-
surer as aforesaid and cause the to be regis
tered and cancelled in such manner as to prevent