Oroville daily Butte record., 1857-09-15
LEGAL NOTICES.
IBY AUTHORITy.l
' Ote on the state Debt.
OFFICE oF SECRETARY oY STATr.
Sacrnme ntn. CnlIfnrnin. AlaN %. 1857.

on ce in Sacramento, California the twenysixh day
of May, A. D. 1857. DAVID F. DOUGLAS.
[ssAL.l Secretary Of state.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State Of Califor-
mia. and to contract Funded Debt for
that purpose
The Peopie Of the state If California. represented IN
Sefsdte and .4ssembty. do enact as fubot's:
SECTION For the purpose of liquidaiing, fund
ing, aud paying the claims ngan, the state uf Cali.
fornia, hereinafter specified. the Treasurer Of State
shall cause TO be pretared suitable bonds Of the STATE
of California. tn exceed the sum Of three millions
nine hundred thousand dollars, bearing interest at
the rate Of per cent per annum from the daie
OF their Issue. payable at the state Trcasurers office,
the fir-t day of July. thousand eight hundred
and Sc eny-sevcn: The interest 0ccrUin9 ON s1id
bonds shall be due and PAYABLE 40 the Office Of The
Treasurer OF State the frat day of January and Of
July of each wear: PrOrided. That The first payment
ofnt|rest shall not be made before the fret day of
ia uary. one thousand eight hundred ami iy nine.
Said bonds shall be- signed w the Governor. and
countersignPd by the Comptroller. aui cnu":Snd bv
the Secretary Of state, aud shall have The seal Of the
State affixed thereto
Sec @ Coupons for th e interest shah be attached
TO each bond so thut they may be removed without
injury mutlation To The bond. Said coupons con-
secnvely numbered. shall be signed ~ the Ireas-
urer OF state.
Sec. g. Il shall be the duty Of the Treasurer and
Comptroller Of State each TO Keep separate record
Of all such bonds as may be js,uci, showing the
number date and amount of each bond, aut tN
whom The same was issued. aud upon what c.Hlm
and its amount: and none of the cai'u~ herein sUe
CITED shall be liquiduted or paid but in the manner
herein provided.
Sec .. The sum Of one thousand dollars is hereby
n proprated Out of any money in the Treasury Dot
otherwise appropriated TO pay the expense that may
be incurred by me Treasurer III haNtg eaid bonds
prepared. but the tUmplr"ier shall not draw bis
warrant ON the Treasury for iis amount untl there
IL money therein to pay the same.
Sec. All persons having any of The claims against
he state of California. entitled TO be funded ~ here
inafer specified, shall, upon the presentation "t The
same 20 ;ne Treasurer of the STATE, receive in ex>
change therefor bond or bonds Of the state of
California provided for in he first sgellnO oi this
Act hut no bond shall he issufd tor less sum than
five hundred dollars, nor for fractional paris Of
hundred dollars, but the Treasurer may tSsIe GER
lihcates ot such fractional parjs hot bonded which
said certificates shall be TRANSFERABLE and oGcd 20
he funded before provided The Treasurer snail
endorse. on the back OF each ciam 80 received and
lIquidaed. the date on which he received the same
and from whom. and the number e the bord issued
in exchange therefn- and sech claim shall filed IN
the Office OF the Secretary of state
Sec o. For the paymentwthiu twenty years of the
PRINCIPAL and interest of The bonds issued under This
Act. there shall he levied annually. until the bonds
paid, and promptly collected ia the sam manner
as is or may be provided 10y law for ordinary state
taxes tax of thirty cents on each one hundred dot
iars OF the assessed Vaue Oi real ana 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 ON the bonds herein pr0vid
ed and the final redemption OF The principal of said
bonds. and the Gath of the state of Cafor IA is
hereby pledged for the pHymen' ~ herein provided
of the bonds issued by virtue Of this Act. and the in
teres thereon and all moneys THAI may be rec tved
by the State of California from The United States
Government on account OF the civil Fund, called
are hereby rreyOcaby pledged 10 the payment of
the principal and interest Oh the bonds issued under
this Act A wilful refusal or neglect by Supervisors
pra oh harn lew taL
by this Act, shall be misdempauur, and the person
persons convicted thereof shall be removed from
office and punished by fine not exceeding one thou
sand dollars, or by imprisonment in the county Jail
not exceeding six months or by both such fine and
imprisonment.
Sect Whenever. the first dav Of Jenuary or
July in any year, there remains after the payment of
the interest as hereinafter provided, a surplus of ten
thousand dollars ore, 4 shall he 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 for 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 advertisement shall state the amount of
money he has hand for the purpose OF redemption,
and hey 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: JTODided, hoWec0, in
"a sufficient amount al 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 hree months, which adver-
tisements shall state the amount in the sinking fund !
and the number of bonds numbering them in the !
order their issuance, which such fund Is set apart
to nav and discharge ana if such bonds, num- |
bered in such advertiser eDts. shall not be presented
for payment and cancellation within three months /
froin the expiration OF such publication, then such
shall
bonds whenever presented--but they shall draw no |
interest after such publication as last aforesaid.
Sec 3. The Treasurer OF State shall keep full and |
particular account and record of oil his proceedings
under this Act aud of the bonds redeemed and sur
rendered, Ind he shall transmit to the Governor an
abstract of all his proceedings under this Act, with
his annual report 10 be by the Governor laid before
the Legislature; and all books and papers pertain
ing the matters provided tor in this Act, snail mt all
times be open to the inspection of any patty interest
ed or the Governor, or the Attorney General, or a |
committee of either branch of the Legislature, |
Joint committee OF both.
Sec O. Ii shall be the duty of the Treasurer to pay
The interest on said bonds when the same falls due
oat OF said interest fund il sufficient and If said fund
be not sufficient. then TO pay the deficiency out or
the General Fund pT0rided. that the Comptroller of
State shall first draw his warrant ON the Treasurer
payable to the order of said Treasurer for the amount
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.
Sec 10. 1t shall be Ihe duty of the Governor and I
Comptroller to attend, at least once In each month
at the Treasurers Office while said bonds are being
issued, to examine all claims received by the Trea
surer as aforesaid, and cause the 10 be regis
tered and cancelled in such manner as to prevent /
them from being re-ssued or put la circulation.
Sec. IL. The following are specified as the claims
which are entitled 80 be received and funded under
this Act: First Civil bonds of the State issued under
the funding Acts passed in the years 1851, 1891 13
1855, and 1856, which are outstanding with In
10 nuds