The Nevada journal., 1857-09-04
Published by Authority.
a M ACT

a N "A & l.
To provide for Paving certain Equitable Claims against
the State of California and to contract unded Delt
TEo pl@e,c Of he STATE of California rercseatcd in
Senate and Assembly, do enact as oitows.
SECTION l. For the purpose of iiquidatng: fnnding
and paving the claims against the State of California,
hereinaftc spee d. the Treasurer OF State shan eau
to prepared suitable bonds of the State of altorna,
not to exec ed the of three million nine hundred
thousand dollars elrng interest at the rate OF seven
per per from the date of their issue payable
State Treasure s office. the first day OF July,
thousand eight hundred and seventy severn the in
accruing said bonds shall be Que and paya lie
the Office of Treasurer of State on the first day of
January and of Ju y Of each year: Pf0caed Ina inc
first payment of terest shall not be made before the
first day of January, thousand eight hundred aad
fifty nine Said bonds shall be signed by the Governor
and countersigned by the CONTROLLED and endorsed by
the Treasurer of State and shall have the seal Of the
State affixed thereto.
Sec p COUPONS for the interest shall be attached to
each bond so that they may be removed without injury
or nutilaon to the bond Said coupons eonsecutivey
numbered shall be signed by the Treasurer Of State
Sec. g. 1t shall be the duty Of the Treasurer and
Controller of State each 10 keep separate record OF
all such bonds may be issued, showing the number,
date and amount of each bond and to whom the same
issued, and upon what claim and its amounts and
Of the claims herein specified shall be quidated
paid but in the manner herein provided
Sec T. The of one thousand dollars is hereby ap
proprated ont Of any money IN the treasury not other
wise appropriated to pay the expense that may be m
cured by the Treasurer in having said bonds prepared
but the Controller shall not draw his warrant on the
Treasury for this amount until there is money therein to
pay the same.
See s. All persons having any Of the claims against
the State California entitled funded herpinaf
ter specified shall upon the presentation of he
the Treasurer Of State receive in exchange therefor
bond or bonds of thc State of California tor in
the first of this Act but bond shall be issuen
less than Eve hundred dollars, for fractional
al parts of hundred dollars but the Treasurer may is
certificates of such fractional parts not bonded,
which said certificates shall be transferable and entitled
be funded betere provided. The Treasurer shall
endorse the back of each claim received ard qu
dated, the date on which he received the same and
from whom, and the number of the bond issued in
change therefor and such claim shall be fled in the o.
flee 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 paid,
and promptly cclecetin the manner is may
be provided by law for ordinary State taxes AK of
thirty each hundred dollars of the assessed
value of real and personal properly in the State and
the fund derived from this tax shall be set apart and APP
piled exclusively to the payment Of the interest the
bonds herein provided and the final redemption Of the
principal Of said bonds and the faith of the State of Cal
ornia is hereby pledged for the payment herein pro
vded of the bonds issued by virtue CT this Act and the
interest thereon ana all moneys that may be received
by the State of California from the United State Gov
ernment account Of the Civil Fund called here
by irrevocaby pledged to the payment Of the principal
and interest the bonds issued under this Act will
full refusal neglect by Supe ysOrs any her Cfcer
to levy or collect the taxes imposed by this Act shall be
a misdemcauor, and the person persons convicted
thereof shall be removed from Office and punished by
fine not exceeding thousand dollars. by imprSon
men in the county Jail MT exceeding six months or by
both such fire aud Imprisonment.
Sec. T. Whenever on the first day OF January or July
in year. there remains after the OF the in
forest as hereibetore provided, surplus of ten thous
and dollars ii sha be the duty of the Treasurer
,opdvertise for the srace of one week. in daily
paper published in English, in the city a New York,
and for month in daily newspaper published in
English at the State Capital for sealed proposals. be
opened month after the expiration OF such publiea
tons by the Treasurer presence Of the Governor
Controller the State Capital. for tile surrender #
bonds issued under THE Act which advertisement shall
state the amount Of money he has hand for the pur
pose OF redemption and they shall accept the lowest pro
posas, at not exceeding par value may redeem
tI l,,, I'll. ~.
hand for redemption is cxhaustc; pr0Cdo9 h0ece in
sufficient Of such bonds shall be offer
ed af3res aid, to exhaust the sinking fund a less
amount than ten thousand dollars, then il is hereby
made the duty of the Treasurer to advertise in two
news apcrs one in New York and at the apita OF
tins tate tor three me nthS which atvert-eIn mt sal
the amount in the sinking fund.- aud the number of
bonds numbering them in the er of their issuance
which such fund is set pay and discharge.
If such bonds numbered in such advertisements, shall
not be presented for payment and cancellation within
three months from the expiration If such publication
then such fund shall remain in the Treasury discharge
such bonds whenever presented but they shall draw
interest after such publication as last aforesaid.
Sec. :. The Treasurer of State shall keep fun n
particular account and record OF all his proceedings
der this Act and Of the bonds redeemed and surrender
ed and he shall transmit to the Governor abstract of
al, MS proceedings under this Act, with his annual re-
port to be by the Governor laid before the Legislature;
and all books and papers pertaining to the matters PRO
ve tor IN tins Act shall at all times be open to the in
speeton of any party Interested the Governor, the
Attorney General or committee of either branch of the
Legislature. or joint committee OF both.
See 9 1t shall be the duty of the Treasurer to pay
the interest said bonds when the falls due out
OF said interest fund il sufficient. and if said fund he
sufficient, then to pay the deficiency of the General
Fund.- Prordef that the Controller Of State shall first
draw his warrant on the Treasurer payable to the or
der of said Treasurer for the amount OF interest money
about to become due, which said interest warrant shall
be drawn at least one month previous to the maturing
of the interest
See TO- 1t shall be the duty of the Governor and Con
troler to attend at least in each month, at the
Treasurers office while said bonds being issued to
examine all claims received by the Treasurer aore
said and cause the be registered and cancelled
in such manner as to prevent them from being reissued
or put in circulation.
Sec II. The following are specified as the claims
which are entitled TO be received and funded under th
Act: First Civil bonds of the state issued rnler the
funding Acts passed in the years 1851, 1882 1853 1850
and 1850 which are outstanding, with interest due
on the same when presented appears by the coupons
Second Controllers warrants drawn under sanction Of
law for civil expenses prior to January first A d. lo5
and now outstanding and unpaid, but the provisions of
this Act shall not authorize the funding of any of those
warrants the registration and endorsement OF which
cancelled required be cancelled by the pro
visions of An Act to cancel the registration aud in
dorsement OF certain warrants and prohibiting the pay
ment of the same, approved January Both, A. D. 1856
which have been specifically adiudeed lie
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 Third Just
legal claims against the State accrued or to hanna
~ lst 1881, and which may be allowed and audited by
Act of the Legislature And if the Treasurer of state
SHAH willfuy issue bonds upon claims not herein speei
ned as receivable it shall be deemed msdemeanor and
he shall be punished as provided in section Of this Act
and such bond shall be void
ceved for funding and bonds therefor may be issued
prior TO the first day of January, 1883, but not after
wards and all claims presented for funding prior
that time excluded from the provisions of this Act
and such blank bonds prepared under the provisions of
this Act, shall then remain hand shall be destroyed
in the presence of the Governor, Controller and Treas
urer
Sec l3- This Act shall take effect the first day of
November A. ID. 1857. all its provisions except
those relating and necessary for its submission the
people. and for returning canvassng and prOcaiming
the voies-which shall take effect Immediately
500 Act bal na cd t,, of
the State for their ratification the general cleo
ton, to be holden on the first Wednesday of September
A ID. 1857 and the qualified electors of this State, shall
at said election, their ballots for State officers,
for against this Act those voting for the same shall
write have printed on their ballots the words Pay
the Debit; and those voting against the same shall
write or have printed their ballots the words Repu
dfate the Debt"
Sec 10 Thevotes cast for and against this Act shall
be counted returned and canvassed and declared in
the manner and subject to the rules votes
cast for the Treasurer of State and appear that
majority of all the votes cast for against this law
Aforesaid, in favor of this Act then the shall
have effect hereinbefore provided and shall be ire