The Nevada journal., 1857-06-19

TO De prepared suitable bonds of the State of California
not TO exceed the Of three millions nine hundred
thousand dollars, bearing interest the seven
per cent per anuun from the date of their issue PAYABLE
at the State TreasureTs cee on e first dav of July
terest accrung said bones shall be due and PAYABLE
the Office OF the Treasurer of Stat on the first da f
January and of July of each year: Pr0rided That the
hrst payment of interest shal not be made before the
hrs day OF January one thousand eight hundred and
fifty nue Said bonds shall signed by the Governor
and countersigned by the Conuollel and endorsed by
the Treasurer Of State and shan have the seal of the
State affixed thereto.
See Coupons for the interest shall be attached TO
eaeh bond thai they may be removed without injury
or mutlation TO the bond said coupons conseeutiyev
numbered shall be signed by the Treasurer of State
See J. II shah be tie duty IL tse Treasurer and
Controller of State each to keep separate record of
all such bonds as 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 amounts and
none Of the claims herein specified shall be iqudated or
pad but in the manner herein provided
See 4 The sum of one thousand dollars hereby a-
proprated out Of any money in the Trea not other
wise appropriated 10 pay the expense that may be in
CURED 10y the Treasurer in having said bonds prepared
but the Controller SHAH draw his warrant on the
treasury Tor this amount andl there is money therein
Sec. Al persons having any of the claims AGAINST
the state Of California entitled be funded as herenaf-
Ter spechod shall upon the presentation of fe
the treasurer of State, re-eife in exchange therefor
bond or bonds of the California provided Tor in
the first section of this Act bond shall be issued
for less than ve hundred dollars nor for fraction
al parts OF hundred dollars, but the Treasurer may
sue certificates of fractional parts not bonded
which said certificates shall be transferable and entitled
10 be funded As before provided The Treasurer shall
endorse the back Of each claim and qui
Dated the date which he received the same Sud
from whom and the number Of the bond issued in jx
change therefor and such claim shall! le Sled in the of
fee 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 bonds are paid
and promptly collected in the manner as is NAV
Ge provided by law for ordinary State taxes tax Of
thirty cents on each hundred dollars of the assessed
value OF real and personal property in the State and
the und derived from this tax shall be apart and ap-
pied exclusively to the payment of the interest on the
bonds herein proFded, and the final redemption of the
principal of said bonds and the faith the State of al
oria is hereby pledged for the PAYMENT as herein nro
ded OF the bonds issued by virtue this Act and the
interest thereon. and all moneys that NAV be received
oy the state OF California from the United States Gov
ernnent on account Of the Civil Fund.- called are here
by irrevocably pledged payment Of the principal
and interest the bonds issued under this Act will
TO levy or collect the taxes imposed by this Act shall be
misdemeau5r, and the person or persons convicted
thereof shaH he removed from Office and punished by
me not exceeding one thousand dollars or by mprisou
men in the county Jail exceeding six months or bv
both such fine and imprisonment.
Sec. / Whenever the first day Of January or July
IN any year there remains after the payment Of the in
ereS as hereinbciore provided surplus of ten thous
ana dollars or more il sha be the duty the Treasurer
to adversefor the space of one week. in one daily news
paper punished in English, in the city of New York
and tor one month in daily newspaper published in
lnSh al the state Gapital for sealed proposals to be
opened one month after the expiration OF such pubca
ohs by te Treasurer in presence of the Governor OF
controller at the STATE Capital for the surrender Of
bonds issued under THE Act which advertisement shall
state iAe amount of money he has hand for the ur-
pose OF redemption aud they shall accept the pro
'NS at races not exceeding par value may redeem
haA tr redemption is exhausted p0Cid8 k0Hrerer in
ca sufficient alnoHn7 Of such sHd shall offer
rh ' said to eNAaus the sinking flnd 10 a less
mount thtn ten thousand dollars, then il is hereby
made the duty Of the Treasurer to advertise in two
newspapers, one in New ork and one the apita Of
inns state for three months. which advertisements sfal
/ t,f
% mus, numbering them ia the of their issuance
which such fHud apart to pay aad discharge and
not De presented for payment aud cancellation within
three months from the expiration of sue Uuhlicati1n
then such fund shall remain in tho Treasury discharge
Such bonds Wheuey presented but they shan draw no
interest after such publication as last af3resail
Sec. =. The Treasurer Of state shall keep ful and
particular account and record of al his proceedings
der this Act, and of the bonds redeemed aud surrender
ed and he shall transmit to e Governor abstract of
all ms proceedings under this Act with his annual
port 70 be by taa Governor laid before the Legislatures
and al books and papers pertaining to the matters pro
vilcd for ti. Act shall at all times be omen 10 the in
pecon OF any party Interested, the Governor the
Attorney General committee Of either branch of the
Legislature. or a joint committee Of both.
See @. 1t shall be the duty OF the Treasurer TO paw
the interest said bonds when the falls due ont
of said Interest fund if sufficient and if said fund be not
sufficient, then to pay the deficiency of the General
Hnd ir57tas that the Controller Of state shall first
draw his warrant the Treasurer payable the or
der of said Treasurer for the interest money
about to become dGe, which said interest warrant shall
be drawn al cst one month previous to the maturing
of the interest
Sec TO- It shall he the duty Of the Governor and Con
troller attend, least once in each month at the
TEeasurers Office while said bonds are being issued TO
examine all claims received by the Treasurer as aforc
said and cause the to he registered and Cancelled
in such manner to them from being ressued
or put in crcula ton.
See. H. The following are specified as the claims
hch are entitled to be received and funded 4pier This
Act First Civil bonds the State issued under the
funding Acts passed in the years 1851, 1882 1888 1855
and ld56 which are now outstanding, with interest due
on the when presented appears by the coupons
Second, Controllers warrants drawn under sanction of
law for civil expenses prior to January first A. d 1857,
and now outstanding and unpaid, but the provisions
this Act shall not authorize the funding of any
the registration and endorsement which
We're cancelled or required to be cancelled by the pro-
visions OF An Act to cancel he registration aud in
dorscment Of certain warrants aud prohibiting the pay
nent of the same, approved January Both A. d 1856
or warrants which have been specifically adudged e-
gal by any Court and all said warrants specified in the
last mentioned Act hereby expressly excluded from
all the benefits and provisions of this Act Third lust
or legal claims against the State accrued rrior 10 Janua
ISL te9, and which may be allowed and audited by
Act OF the Legislature And if the Treasurer of State
sha wifuliy issue bonds upon claims herein speci
ned a. receivable it shall be deemed misderneauor and
ne shaii be punished as provided in section OF this Act
and sueh bond shall be void.
Sec - The claims specified in this Act NAV be re- |
ceived for funding, and bonds therefor NAV BE- issne
wards and all claims not presented for funding prior
that time, excluded from the provisions of this Act
and such blank bonds prepared under the provisions Of
TINS Act a shall then remain on hand shall be destroyed
in the presence of the Governor Controller and Treas
urer
Sec - This Act shall take effect on the first dav of
November, y. ID. 1871 to all its provisions except
those relating to- and necessary for submission to the
people, and for returning canvassing proclamiue
the votes-which shall take effect Immediately.
Sec, a. This Act shall be submitted to the people of
the State for their ratification the next general cleo
ton, TO ee holden on the first Wednesday of September
A. d. 1901 and the qualified electors Of this State shall
az said election, their ballots for officers vote
Tor or against this Act those voting tor the same shall
write or have printed on their ballots the words Paw
the Debit and those voting against the same shall |
write or have printed their ballots the words Repu
date the Debt
Sec l5- The evoes cast for and against this Act shall
be counted, returned and canvassod and declared in
the same manner and subject the rules votes
cast Tor the Treasurer of State, and ft appear that
majority of all the votes for against this law
as Aforesaid in favor Of this Act then the same shall
have effect herenhefore provided and shall be
peaabe until the principal and interest ofthe liabilities
herein created shall be paid ard discharged and the
Governor shall make proclamation thereof; but if
majority of the votes cast against this Act then
the same shall become void.
Sec re- 1t shall be the duty of the Secretary ofState
to have this Act published in one newspaper in each Ju-
eia District of this State if be published therein
for three months preceding the general election
be holden upon the first Wednesday of September next
for which publication, greater allowance shall be
made than the allowed by law othe State Printer
Approved April 2sth, 1887.
Lion NOfIpR