Mariposa Democrat., 1857-09-02
CHAPTER CCxLIV.


An ACT TO PROVIDE FOR PAyISG oERrnN EQUITABLE
CLAIMS AGAINST THE STATE OF CALIfoRNIA, AND
To CONTRACT A.FCNDED DEBT FOR THAT PURPOSE.
The People of the State of California. represented IN
Senate and assembly, do enact as toiiotcs'
SECTION |. For the purpose OF liquidating, fnndng
and paying the claims against the state Of CALIFORNIA
hereinafter specified the Treasurer of State shall cause
tp be prepared suitable bonds OF the State OF Caor
MA not 10 exceed the sum of three millions nine
HUNDRED thoas md dollars, bearing interest at the rate
of seven per cent per annum from the date OF their
issue payable at the State Treasurers Office, on
first day of July, one thousand eight hundred and
seventy-seven the interest aecrung on said bonds
shall he due and payable at the oce Of the Treasurer
of State the first day of January and OF July OF
each year Prorided That the first payment OF in
terest shall not be made before the first day OF January
one thousand eight hundred and Gty-nine. Said
bonds shall be signed by the Governor. and counter
signed by the Comptroller, and endorsed by the Treas
urer Of State and shall have the seal of the State
affixed thereto.
SEC @ Coupons for the interest shall he attached 10
each bond so that they may be removed without in
Jury or mutilaton to the bond Said coupons, con
secltvey numbered shall be signed by the Treasurer
OF State.
SEC. g. It shall be the dnty of the Treasurer and
Comptroller of State each to keep separate record OF
all such bonds may he Issued. showing the number
date and amount Of each bond. and tn whom the same
was issued, and upon what claim, and is amount and
none Of the claims herein specified shall be liqudated
or paid but in the manner herein provided.
Sec. 4. The sum of one thousand dollars il hereby
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 the Treasury for this amount until there is
money therein tn pay the same.
SEC. 8. All persons having any of the claims against
the State Of California, entitled to be funded as herein
after specified, shall upon the presentation of the same
10 the Treasurer of State receive in exchange there
for bond bonds of the State of California provided
for in the first section of this Act hut no bond shall
be issued for less than five hundred dollars, nor
anftA Kt1 nf hmm. .nQ1 dbl hnf fhR
Treasurer may issue certificates Of such fractional
parts not bonded, which said certificates shall he trans
ferabe and entitled TO he funded before provided
The Treasurer shall endorse on the back of each clln
so received and liquidated the date on which he
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. 6. For the payment within twenty years OF the
principal and interest Of the bonds issued uder this
Act. there shall be levied annually. until the bonds
paid and promptly collected in the same manner as is
may he 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 pedfe 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 Caifrr-
mia from the United States Government account of
the Civil Fund, so called. are hereby irrevocably
pledyed 10 tne p1yneHt OF te principal ana interest
on the bonds issued under this Act wlful refusal
neglect by Supervisors other officer 10 levy
collect the tax imposed by this Act shall he mis-
dereanor, and the person persons convicted there
of shall be removed from Office and punished by fine
not exceeding Thousand dollars, or by imprson-
ment in the county jl not exceeding six months, or
by both such fine and imprisonment.
SIC. 7. Whenever, on the first day Of January or
July in any year there remains afer the payment Of
the interest hereiubeiore provided surplus of ten
thousand dollars or more, il shall be the duty Of the
Treasurer to advertie for the space Of week in
one daily wspaper 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. 10 he opened month after the ex
praton Of snch 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 nf redemption,
and they shall accent the lowest proposals. at rates not
exceeding par vilne, as my redeem the greatest
amount of bonds until the amanit Of cash hand for
redemtnn Is exhausted, prorifed harerer in case
sii ;ent amount Of snch bonds shall not I've offered
10 exhaust the sinking fund to less amount than ten
thousand dollars. then ii is hereby made the duty Of
the Treasurer to advertise in two newspapers one In
New York and one at the Capital Of this State, for
three months which adve tisements shall state the
amount in the sinking fund and the number Of bonds
numbering them in the order Of their issuance which
sneh fu1d Is set apart To pay and dis barge and II
such bonds numbered IN sIch advertisements shall
not he presented for payment and cancellation within
three months from the expiration of snch publication
then snch fund shall remain in the Treasury n ds-
charge snch bonds whenev pre- 'entedbnt they shah
draw no interest after such publication as last aforc
said.
SEC. 8. The Treasurer of State shall keep full and
particular account and record Of all his proceedings
under this Act, and of the bonds redeemed and sur
rendered, and he shall transmit t. the Governor an alb
stract OF all his proceedings under this Act with his
annual report to I've by the Governor lad before the
Legislature and all books and papers ieraining to
the matters provided fer in This Act shall at all times
tsI arl
the Governor, or the Attorney General or a committee
of either branch OF the Legislature, or joint com
mitee Of both.
SEC. 0. It shall he the duty of the Treasurer to nav
the interest on said bonds when u lie same all- due ont
OF said interest fund ii sufficient and If said fund I've
nocsniicent, then to pay the deficiency ont Of the
General Fund Pr0pided that the C0mpirollcr of
State shall first draw his warrant on the Treasurer
payable IN the order Of said Treasurer for the anonn
OF interest money about 20 become due which said
interest warrant shall be drawn at least one month
previous to the maturing OF the interest.
SEC. 10. II shall be the duty of the Governor and
Comptroller to attend at least in each month, at
the freasurers Off c, while said bonds are being is
sned, 10 examine all claims received by the Treasurer
as Aforesaid ID cause the to be registered and
cancelled in snch manner a. to prevent them from
being rc-issued or put in circulation.
SEC ii. The following are specified as the claims
which are entitled Tn he received and funded und
this Act First, Civil bonds of the State issued under
the funding Acts passed in the years 1851 1852 1853
1855, and 1886, which out ,tanding with in
oticst ute On tnc same Wncn presented, by
the coupons. Second, Comptroer's warrants drawn
under sanction of law for civil expenses priir to Jan
uary lst, A. d. 1857 and now outstanding and un.
paid, bat the provisions of this Act shall not authorize
the funding OF any Of those warrants the registration
and endorsement Of which cancelled or required
70 be cancelled by the provisions of An Act TO cancel
the registration and endorsement of certa warrant
and prohibiting the payment Of the same.n approved
January 30th, A. d. 1856, or warrants which have
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 accrue prior to January lst 1857
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 rnsdemeanor and he
shall be punished provided in section Of this Act
and such bond shall be void
SEC. IL. The claims specified in this Act NAV be re-
celved for funding and bonds therefor NAV be issued
prior to the first day of January, 1859 but not after
wards and all claims not presented for funding prior
TO that time are excluded from the provisions Of This
Act, and such blank bonds prepared under the provis
ions OF this Act as shall then remain on hand shall e
destroyed the presence of the Governor Comptroller
and Treasurer.
SEC. l3. This Act shall take effect on the first day
OF November A. d. 1857 to all its provisions ex
cept those relating to- and necessary for its snbmis
sion 10 the people and for returning canvassing and