Oroville daily Butte record., 1857-06-05

Witness my hand, and tire great seal of State, at
OF ce in Sacramento, California the twenty.sixh day
of May, A. D. 1857. DAVID r. DOUGLAS,
LsEAL.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 PoIle Of The State Of California represented IN
S,n1ts and .7ssembiy. d. enact as foiors
SECTION l. For the purpose of liuuidating fund
ing aud paying the claims against the State of Cali
forns, hereinafter specified, the Treasurer of State
shall to be prepared suitable bonds the state
of California, not To exceed the sum of three millions
nine hundred thousand dollars, bearing interest at
the rate OF seven per cent per annum from the
OF their ISSUE payable at the State Treasnrers office,
on the tr.t day of July, thousand eight hundred
aud se'enty seven9 che interest accruin2 on said
bonds shall be due and PAYABLE at the office of the
Treasurer Of Sae the first day ut January aud Of
July Of each YEAR ROUided. That the first payment
of interest shall not be made before the first ly of
Ja- uary, one tho usand eight hundred aud fifty nine
said bonds shall E signed 10y the Governor. and
conntersignrd by the Comptroller, and endorsed by
the secretary OF state and shall have the seal the
State affixed thereto.
Sec. 2. Coupons for the interest shall be attached
to each bond thAt they may be removed without
injury mutation to the bond. Said coupons, con
secutively numbered. shall be signed by the Treas
urer of state.
Sec. 8. 1t shall be the duty of the Treasurer and
Comptroller OF State each 10 keep a separate record
of all such bonds rs may be issued, showing he
number. date and amount of each bohd, and to
whom the same was issued and upon what claim,
and its amount: and none of the claims herein spe.
Gifted shalt be iiquidaed or paid but in the manner
herein provided.
+ see D. The sum Of one thousand dollars i. 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 ON the Treasury for this amount until there
is money therein 10 pay the same.
Sec. All persons having any of the claims ag9inst
the state of California. entitled 10 be funded us here
inaer specified, shall upon the presentation at the
to me Treasurer OF the STATE, receive IN eN>
change therefor IA bond or bonds of the State OF
California. provided for in the first session OF this
Act: but bond shall be ssutd d for less sum than
tive hundred dollars nor for fractional parts Ol
uudred dollars. but the Treasurer may issue GER
tifcates o such fractional parts not bonded which
said certificates shall be transferable and entitled to
be funded rs before provided The Treasurer shall
endorse, on the back OF each Claim So received and
liqnidated the date on which he received the same.
and from whom. and the number a the bond issued
in ex change thercfnr aid claim shall filed in
the office Of the Secretary of state.
Sec o. 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
paid. and promptly collected in the Sam manner
az is or may be provided by law for ordinary State
taxes q tax OF thirty cents ON each one hundred dol
lars Of the assessed value Of real and personal pro-
perty IA the state. and the fund derived from this
tax shall be set apart an applied exclusively 10 the
payment of the interest the bonds herein proyid-
ed aud tho final redemption OF The principal cf said
bonds aud the fath of the State of Caljior Ia is
hereby pledged for the payment as herein provided
of the bonds issued 10y virtue of this Act aud the in
terest thereon and all moneys that may be received
by the state of California from the United States
Government on account ot the Civil Fund. so called
! are hereby irrevoraby pledged 10 the payment OF
81. hal
this Act A wilfui refusal neglect by supervisors
or any Other officer 10 levy or collect the tax imposed
by this Act, shall be II mi>demeanor, and the person
or persons convicted thereof shall be removed from
Office and punished 10y fine not exceeding one thou
sand dollars, or by imprisonment in the county jail
, not exceeding six months or by both such tine and
Imprisonment.
sec. Whenever. on the first day of January
July any year, there remains, after the payment Of
the interest hereinafter provldcd, surplus of ten
thousand dollars or ore IL shall he the duty of the
Treasurer to advertise for the spnce of one week in
one dmly paper published ~ English, liz the city of
New York. and tor one month IN one daily neWspa-
Der published in English at the State Capital. for
sealed proposals. TO be opened one month niler the
eNpirati0n OF such publications by the Treasurer, in
rt spucc Of the Governor Comp roller at the State
Capital for the surrender If bonds issued under this
Act which advertisement shall state the amount of
money he has hand for the purpose OF redemption,
aud they shall acCtpt the loves proposals. at rates
not exceeding par value as may redeem HE srraest
amount oi bonds until the nmoun OF cash on hHnd
for redemption Is exhausted; isdU"ed, homertr, ~
case sufficient amount :" such bonds shall not be
offered, as aforesaid. TO exhaust the sinking fnnd To
less amount than ten thousand dollars, Then II II
h,.rphy made the duty ol toe Treasurer to advertise
in two news papers, one in New York and at the
capital al the state, for threc months. which ndVer-
tsempnts shall state the amount III Inc sinking fund
aud the number of bonds numbering them in The
a. der OF Ilr lnCe. Wt'Ch sIcn itEd iS sci apart
"a pav and discharge and II such bonds, so mum
bcrd in such advertiser eni-, shalt not hr presented
for payuent and cancellation Within three months
from The expiration OF such publication, then such
fund shah remain in the Treasury 10 discharge such
bonds whenever presenird--bu they shall draw no
interest after slch publication as last aforesaid.
ser = The Treasurer ui STATE shall 6rrp full and
particular nnd record of ali hia proceedings
under this Art. and of the hund, redeemed aud sur
rendered. nd he shall transmit 70 the Governor an
abstract of al his pro ceilings uuucr thus Act. with
hIs annual report, to be ny The GoNern"r Ihd before
the Legislature; aud all hooks aud pap'r- pertain
iGt tulhe matters provided tor ~ lhs fct' shH AZ al
lines be- open Ia he insp, elton OF any pa iy interest
ed or hr t,tv. gnur. or she Att"rieY tfneri,l or
comfnitce of either trAnch OF the Leg Stature or
joint committee Ot both.
sec Q. II shall be the duty Of the Treasurer t" pay
he interest on said h0nns when the ~nme Ills due.
,i of said interest fund II Sufltnt. aud II suid rand
he moi Sufficient. then to pay the deficiency out OF
the Gppprl Fund prortef that the Comptroller oi
State shall first draw his warrant on the Ireisurtr,
PAYABLE 10 the order of said Treasurer or the amOn"l
OF interest money about 10 bccuH&e dOe. which said
Interest warrnat shall be drawn al least one monh
previous Ia the maturing oi The interes'.
See 10. Il shall be The duty OF the GoVernor ana
Comptroller "a attend, al letst once IN each month
Al the Treusurers office, while said bonds are heihg
issued, TO examine al claims received by the Irt
srer rs aforesaid. aud cause the same To be regis
tered aud cancelled IN such manner as 10 prevent
them from being ressued or put la circulation.
See. II The following are specified as The claims
which are entitled to be received and funded under
this Aci First civil bonds of the Slate issued under