Oroville daily Butte record., 1857-06-11

of ce in sacramento, Cuhorh'h' ue '"ehy 'sNth uaJ
Of May, 4. d. 1851. DAVID r. DOUGLAS
| rsE,Ll Secretary of State.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State OF Calitor-
MIA. and 10 contract e Funded Debt for
that purpose
The P,nple Of the Stafe Of CaiHrniq, represented in
S,nle and .7ssembtg do enact as foUCrv:
SwcrIoS !. For the purpose of iqnidatinc, fund
ipv and paving the claims against the state OF Gait
fornH, hereinafter Gifted. the Treasurer OF S'2ie
shall cause Ne prepared suitable bonds ol the Nle
NJ california; not to exceed the sum Of trte millions
nine hundred thuH-and dollars, hearlhg incre"t at
the rate Of seven per cent ger annum Tom the GATE
of their isse, payable at Vie state Trrasnrers "hc"
on the fir day of July, one thousand el2ht hundred
| and Sc eniN seven. fhe interest Iccruin2 on sald
bonds shat be due and PAYABLE at the office of The
Treasurer 0f State the first day U january and of
July of each PrOr,dr3. That The hrs pay ntnt
of interest shall not r. made before the first day ol
ia unry. one thonsand eight hundred and fifty nine.
Said bonds shall he signed 10y the Governor. and
| counter.Fgned 10y the CUmproler, and endorsed ny
the Secretary of Ss.e, and shall have the seal OF the
| State aftSei thereto
Sec Q Coupons FOR hes'ntercst shall be attached
| Ia each bond so that they may be removed without
injury mutati,S to the bond. Said coupons. CON
secUtivey numbered. shall be signed b! the rTeas'
urer Of State
See2 II shall be the duty of the Treasurer and
Comptroller Of State each ioKrep separate record
1 # ali ~such bonds may he issued. showing the
number. date and amount uf each bond, und 10
whom he same ~ss issued. and upon what claim,
and its amount: nnd none Of the Claims herein src
cited shall be ita.dated or paid but i'll the manner
heTen provided.
sec =. The ssn Of one thousand dollars il hereby
appropriated ont of any money in the Treasury not
otherwise appropriated To pay the expense that may
be incurred by ne Treasurer in having snd bonds
prepared. bit the Comptroller shall not draw his
warrant on me Treasury TOR this amount until there
! is money therein 10 pay the same.
4 Sec 3 All persons having any ofthe claims ag inst
the state of California entitled be funded here
nafter specified, shall upon the Presentation al the
to the Treasurer Ot the state, receive in eX>
change therefor a bond or bonds of the State of
California. provided for in the dr@t session of this
Act: but no bond shall he issu, d for less sum than
five hnnirId cNars. nor for fractional parts of
I'm ndred dollars, but the Treasurer may issue GER
thcaies oi such fractional parts not bonded which
said certifc shall be transferable and entitled to
be funded before provided The Treasurer snail
endorse, the hack of each clailH So received and
Qudated the date on which he received TIE same.
and from whom. and lhe number Ct the bond issued
i'm exchange thereto and such claim shall De hled ~
the office Of the Secretary ct state.
| Sec d. For the pay mentwthin twenty years OF the
eprincp and interest oi the bonds issued under this
Act. there shall be levied annually. until the bonds
are paid, atrd promptly collected in the sam manner
/ az is or may he provided by law for ordinary state
taxes tnx Of thirty cents each hundred dol
lars of the assessed value OF real and personal pro
perv the state. and the fund derived from this
tax s,all be apart AMI applied exclusively to the
payment of the interest ON the bonds herein prnvid.
ed. and the final redemption OF 'hc principal of said
bonds and the Faith of the State of 'ai1or IN -
hereby pledged for the payment herein pr iVldrd
of the bonds issued 10y virlne of this Act, aud the in
trrest thereon and all moneys that may be rec ~ived
by the state of California from the United States
Government on account OF the civil Fund. so called
nre hereby irrevo"ably pledged to the pa. .ment OF
the principal and interest on the bonds issued under
this Act wilfu refusal or neglect by Supervisors
or any oher officer 10 Ivy or collect the tax imposed
by this Act shall be nsdemeanor, 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 lh
not exceeding six months, or by both such fine aud
imprsonm' mt.
Sec. 7 Whenever on the first dav of Jfnuay or
July in any there remains, after the payment of
the interest hereinafter provided. surplus of ten
Thousand dollars or ore, II shalt he the duy OF the
Treasurer To advertise for the space of one week in
one daily paper published IN English. IN the city of
New York, and Tor one month IN one daily newspa-
per published in Engiish at the Slhte capital. Tor
seated proposals to b" opened one month after the
expiration OF such publications by the Treasurer in
resence uf The Governor or Comp roller. ut the State
apiaI for the surrender of bonds issued under this
Act, which advertisement shall stnt" the amount OF
money he has hai.d for the purpose oi redemption,
and they shall accept the loves proposals. ri rates
not exceeding par value as may redeem HE greatest
| amount of bonds until the amount Ot cash on hand
for redemption is exhausted ITprided h0Terer. in
case a sufficient amount ol such bonds shall not be
offered as aforesaid. 10 exhaust the sinking fund To
less amount man Ten tnOuSdliu uollhrs. lneH " IL
hereby made The duty OF tne Treasurer to advertise
in two news spapers. one in New York and one AT the
(apita of the state. for hree hs, which adver-
tsements shall stale the ount in the sinking fund.
and The number OF bonds numbering them IN the
order of th, VIII ch such fund set apart
To pay and discharge; and il sdch bonds 40 num-
befrd in such advertiser ens. shall not he presented
for payment and cancellation within three months
from The expiration o such publication, then such
fund shall remain in The Treasury to discharge such
bonds whenever presentcd-but they shall draw no
Interest after such publication n last aforesaid
Sec. 4. The Treasurer state shall keep full and
particular account and record OF all his proceedings
unde, this Act. and of the bonds redeemed and sur
| rendered, md he shall transmit to the Governor an
abstract of all his pro eedngs unuer this Act with
his annual report TO be 10y the Governor laid bese
the Legislature and all books and papers pertain
ing To the matter provided Tor in this Act shall mt all
tines be open the inspection of any pa y interest
ed or the Governor. the Attorney General, n
committee of either hranch of the Leg stature, OF
Joint committee oil both.
Sec o. II shall be the duty Of the Treasurer to pay
he interest atjd bones when the same Is iiae
odt of said interest fund. il sd ient and if said fund
be not sufficient. then Ia pa, the deficiency of
The Genera, Fund proniesd that the Comptroller of
State shall first draw hs warrant the Treasur, r.
payahe to the order Of said Treasurer fur the amOut
OF interest money abont to become Jue which said
lIntereSt warrant shall be drawn At one month
previuns 10 the maturing of the interest.
| See. To- II shall b.. The duty OF the Governor and
Comptroller "a attend, e ist IN each month
ui he Treasurer office. while said bonds beLg
issued. u examine al claims received hy the Tr.;-
surcr aforesaid. aud the same t. be regis.
tered and cancelled M such manner ~ TO prevent
I ;hem from beil Z re-i~sued or pa, in circulation.
/ Sec. II The following are specified r. ihe claims
which ARE entitled 10 be received and funded under
mis- Act: First, CIVIL bonds OF he issue! under
thg iaadiHE Ae' 2"sae5 IS iAe ys2rs ISL lss2 r. g