Mariposa Democrat., 1857-08-20


appropriated out Of any money in the Treasury not
otherwise appropriated to pay the expense that may
be incurred by the Treasurer in having said bonds
prepared but the Comptroller shall not draw his war
rant on the Treasury for this amount until there is
money therein to pay the same.
SEC. 3. All persons having any of the cams against
the State Of California, entitled TO be funded as herein
after specified shall upon the presentation of the same
TO the Treasurer of State receive in exchange there
for bond or bonds Of the State Of California provided
for in the first section Of this Act but bond shall
be issued for less sum than five hundred dollars, nor
for fractional parts OF hundred dollars, but the
Treasurer may issue certificates Of such fractional
parts not bonded which said certificates shall be trans
ferable and entitled TO be funded before provided
The Treasurer shall endorse the back of each claim
so received and iquidated, the date on which he re-
ceived the same, and from whom, and the number of
the bond issued in exchange therefor and such claim
shall be 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 same manner is
or may be provided by law for ordinary state taxes
tax of thirty cents each hundred dollars Of the
assessed value Of real and personal property in the
State, and the fund derived from this tax shall be set
apart and applied exclusively to the payment of the
interest on the bonds herein provided, and the final
redemption of the principal Of said bonds, and the faith
Of the State of California is hereby pledged for the
payment as herein provided of the bonds issued by
virtue of this Act, and the interest thereon and all
MONEYS that NAV be received by the State of Caor-
MIA from the United States Government on 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. wful refusal
neglect by Supervisors any other officer to levy
or collect the tax imposed by this Act shall be a mis-
demeanor and the person persons convicted there
Of shall be removed from Office and punished by fine
not exceeding one thousand dollars or by imprison-
ment in the county Jail not exceeding six months
by both such fine and imprisonment
SEC. 7. Whenever on the first day of January or
July in any year, there remains after the payment Of
the interest herenbeore provided surplus of ten
thousand dollars more, it shall be the duty of the
Treasurer TO advertise for the space of week in
one daily newspaper published in English in the city
of New York, and for one month in one daily news
paper published in English at the State Capital for
sealed proposals. to be opened one month after the
praon of such publications by the Treasurer in the
presence Of the 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 hand for the purpose Of redemption
and they shall accept the lowest proposals. at rates not
exceeding par value, as may redeem the greatest
amount of bonds until the amount of cash hand for
redemption is exhausted prorided, hotceror in case
sufficient amount Of snch bonds shall not be offered,
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 in
New York and one at the Capital Of this State, for
three months which advertisements shall state the
amount in the sinking fund and the number of bonds
numbering them in the order Of their issuance, which
such fund IS set apart to pay and discharge and II
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 TO Dis.
charge such bonds whenever presened-but they shall
draw no interest after such publication last aiore
said
SEc. 3. The Treasurer of State shall keep fall and
particular account and record Of all his proceedings
under this Act and Of the bonds redeemed and sur
rendered and he shall transmit 10 the G0vern0ran alb
tract of all his proceedings under this Act with his
annual report 70 be by the Governor laid before the
All a..
the matters provided for In this Act shall at all times
be open to the inspection Of any party interested or
the Governor, or the Attorney General or a committee
of either branch of the Legislature or joint com
mttee Of both
SEc. o. II shall be the duty OF the Treasurer 10 pay
the interest said bonds when the falls due, out
Of said interest fund II sufficient, and il said fund be
not sufficient then TO pay the deficiency out Of the
State shall first draw his warrant on the Treasurer,
payable 10 the order Of said Treasurer for the amount
ofinterest money about to become due, which said
interest warrant shall be drawn at least month
previous TO the maturing Of the interest.
SEc. 10. II shall be the duty Of the Governor and
Comptroller to attend at least once in each month at
the Troasurers Office. while said bonds are being ~
sued 10 examine all claims received by the Treasurer
as aforesaid and cause the same 10 be registered and
cancelled in such manner as to prevent them from
being reissued or put in circulation.
SEc. H. The following are specified as 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 1883
1855, and 1856 which are now outstanding, with in
terest due the when presented as appears by
the coupons. Second, Comptrollers warrants drawn
under sanction Of law for civil expenses prior 20 Jan
uary lst, A. j. 1857, and now outstanding and I'M
paid but the provisions Of this Act shall not authorize
the funding Of any Of those warrants, the registration
and endorsement Of which were cancelled required
to be cancelled by the provisions o An Act 10 cancel
the registration and endorsement Of certain warrants
and prohibiting the payment Of the same" approved
or ufa tpltfp hatn
been specifically adjudged Illegal by any Court and
all said warrants specified in the last mentioned Act
are hereby expressly excluded from all the benefits
and provisions Of this Act Third Just or legal claims
against the State accrued prior 10 January lt, 1851
and which may be allowed and audited by Act Of the
Legislature. And If the Treasurer Of State shall will
fully issue bonds upon claims not herein specified as
receivable II shall be deemed msdemeanor and he
shall be punished provided in section Of this Act
and such bond shall he void
SEC. IL. The claims specified In this Act may be re-
ceved for funding, and bonds therefor may be issued
prior 10 the first day Of January 1859 but not after
wards and all claims not presented for funding prior
10 that time excluded from the provisions Of this
Act and such blank bonds prepared under the provs.
ions Of this Act as shall then remain On hand, shall be
destroyed in the presence of the Governor Comptroller
and Treasurer.
SEc 10. This Act shall take effect on the first day
of November, A. d. 1851 TO all It's provisions ex-
cept those relating o, and necessary for, its subms
sion to the people and for returning canvassing and
proclaiming the yotes-which shall take effect i'm
mediately.
SEC II. This Act shall be submitted to the people
of the State for their ratification at the next general
election, to be holden on the first Wednesday Of Sep
tember, A. ID. 1857, and the qualified electors Of this
State shall, at said election, their ballots for State
officers, vote for againsths Act those voting for
the same shall write or haveprnted their ballots
the words Pay the Debt " and those voting against
the same shall write have printed on their ballots
the words Repudiate the Debt"
SEC 10. The votes cast for and against this Act
shall be counted, returned and canyassed and declared
in the same manner and subject 10 the rules as
votes cast for the Treasurer Of State and if appear
that majority Of all the votes cast for or AGAINST
this law aforesaid or in favor Of this Act then the
same shall have effect as hereinbefore provided and
shall be irrepeaabe until the principal and interest Of
the liabilities herein created shall be paid and dis
charged and the Governor shall make proclamation
thereof but If a majority Of the votes so cast are
against this Act then the same shall become void.
SIC lG. II shall be the duty Of the Secretary Of