Oroville daily Butte record., 1857-08-15
LEGAL NOTICES.
[BY AUTHORITY.1
vote on the state Debt.
oFFfCE OF SECRETARY OF STATE.
- EAcramantn- Cnlifnrr,ia Mar. iasr


the original Act now on file in my Office
Witness my hand and the great seal of State, a
of ce in Sacramento, California the twenty sixth da,
of May, A. D. 1857. DAVID +. DOUGLAS,
lsEALl Secretary Of State.
CHAPTER CCXLIV.
An Act to provide for Paying certain Eouit
able Claims against the State of Califor.
MIA, and to contract Funded Debt fol
that purpose.
The People Of the state Of California represented in
Senate and assembly. do enact as toHoUs:
SECTION For the purpose Of qudating, fund
ing and paving the claims against the State Of Cali
forna, hereinafter specified. the Treasurer of State
shall canse TO be prepared suitable bonds of the State
OF California not To exceed the sum OF three millions
nine hundred thousand dollars bearing interest at
the rate of per cent. per annum from the
OF their ISSUE payable at the State Treasurers Office,
on the frat day of July. one thousand eight hundred
! and seyenty.seven: the interest accruin2 on said
bonds shall be due and payable at the Office of the
Treasurer Of State on the first day of January and Of
July of each wear: PrOrided That the first payment
ofinterest shall not be made before the first day of
ia Uary, one thousand eight hundred and fifty nine.
Said bonds shall be signed 10y the Governor and
counersigned by the Comptroller. and endorsed by
the Secretary OF State, and shall have the seal OF the
State affixed thereto.
Sec q Coupons for tn interest shall be attached
to each bond - that they may be removed without
injury or mutilaon to the bond Said coupons con-
secutively numbered shall be signed by the Treas
urer of state
Sec 3. 1t shall be the duty of the Treasurer and
Comptroller OF State each to keep separate record
Of all 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: ard none Of the Claims herein spe
Gifted shall he quidated or paid but in the manner
herein provided
Sec .. The sum Of one thousand dollars is hereby
appropriated cut 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. 3 All persons having any the claims against
the state of California entitled TO be funded here
inalier specified, shall upon the presentation of the
same to the Treasurer OF the state. receive in
ctrnge therefor bond or bonds of the State Of
California provided for in the first session of this
Act: hut no bond shall be issuCd for less sum than
/ tive hundred dollars, nor for fractional parts of a
hundred dollars, but the Treasurer may issue GER
tfCales ot such Fractional parts not bonded, which
said certificates shall be transferable and entitled to
be funded IA before provided. The Treasurer shall
endorse on the back Of each claim 50 received and
quidaled. the date which he received the same,
! and from whom. and the number ot the bond issued
in exchange thereto. aid such claim shall De fled 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 under this
Act, there shall be levied annually, until the bonds
are paid, and promptly collected in the sam manner
az is or may he provided by law for ordinary state
tnXes tax of thirty cents each hundred dol
lars Of the assessed value o real and personal pro-
pery 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 or The principal of said
bonds and The faith of the State of CalifOr Ia is
hereby pledged for the payment rs herein provided
of the bonds issued by virtue Of This Act, aud the n
tprest thereon and all moneys that may be received
by the state of California from the United States
Government on account OF the civil Fund, so called.
are hereby irrevocably pledged 10 the payment of
the principal and interest on the bonds issued under
this Act wiu refusal or neglect by Supervisors
or any other officer 10 levy or collect the tax imposed
bv this Act shall be mi>demeauOr, 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 IN the county jail
not exceeding six months, or by both such fine and
imprsonms ~.
Sec. : Whenever, on the first day of Jenuary or
July in any year, there remains, after the payment of
the interest hereinafter provided surplus of ten
thousand dollars OR ore II shall be 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 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 nccept the loves. proposals. ut rates
not exceeding par yalne as may redeem the greatest
amount OF bonds until The amount OF cash on hand
for redemption is exhausted; JrDpidtd hotCere1. in
case Il sufficient amount O 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-
tsements shall state the amount in the sinking fund
and the number of bonds numbering them in the
order Of their issuance. which such fund set apart
! bonds.
bered in such advertiser ens. 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 discharge such
bonds whenever presented-but they shall draw no
interest after such publication aS last aforesaid.
Sec. {. The Treasurer OF state shall keep flH and
particular account and record OF all his proceedings
under this Act. and of the bonds redeemed aud sur
rendered, md ne shall transmit to the Governor an
abstract Of all his proceedings unuer this Act with
his annual report to be by the Governor laid before
the Legislature; and all hooks and papers pertain
ing to the matters provided for ia this Act, shan at all
times be open to the inspection of any pa ty interest
ed, or the Governor, or the Attorney General. or u
committee of either branch OF the Legsla,4
joint committee of both.
Sec Q. 1t shall be the duty of the Treasur.,
The interest on said bonds when the siliae ....
out of said interest fund, il sufficient. and u
he not sufficient. then 10 pay the dadcien,,
the General Fund progi5ed that the ConHi
State shall first draw his warrant Oh the T
payable to the order of said Treasurer tlri,t
of interest money about to become due.
interest warrant shall be drawn Al Ter s
previous to the maturing of the ntere~.
Sec. 10. II shall be HE duty Of thu Il ytri
Comptroller to attend, az least once ig C.ch
at the Treasurer's office, while said bonds
issued, to examine all claims received by thr
surer aforesaid. aud cause the same tp be r'tis
tered and cancelled in such manner a. To prevent
them from being re-issued or put iiI circulation.
Sec. IL. The following are specified as the claims
which are entitled to be received and funded under