Oroville daily Butte record., 1857-08-06
LEGAL NOTICES.
tBY AUTHORITY.l
Vote on the state Debt.
oFTIcE or SECRETARY OF STATE.


the original Act now on file in my Office.
Witness my hand, and the great seal of State at
OF ce in Sacramento, California the twenty day
of May, A. D. 1857. DAVID F. DOUGLAS.
[sEAL.l Secretary of State.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State of Califor-
MIA, and to contract Funded Debt for
that purpose.
TIE People of the state of CaGfo-nis represented in
Senate and Assembly. do enact as foAocs:
SECTION For the purpose of liqudating. fund
ing, aud paying the claims against the Slate OF Cali
fornia, hereinafter specified. the Treasurer of State
shalt cause to be prepared suitable bonds of the State
of California, not 10 exceed the sum OF three millions
nine hundred thousand dollars, bearing interest at
the rate of seven per cent per annnm from the date
of their issue, payable at the state Treasurers Office
on the rst day of July. one thousand eight hundred
and Sc eny.seven: the interest accruino ON said
bonds shall be due and PAYABLE nj the Office of the
Treasurer OF State on the first day of January and Of
July of each year: Proridcd. That the first payment
ofnterest shall not be made before the first day Of
Ja- uary. thousand eight hundred and fifty nine.
Said bonds shall be signed by The Governor. and
countersened by the Comptroller. and endorsed by
the Secretary of State, and shall have the seal of the
State affixed thereto.
Sec .. Coupons for the interest shall he attached
to each bond so that they may be removed without
injury mutlation to the bond. said coupons, con-
|
urer Of state.
Sec. g. 1t shall be the duty Of inc Treasurer and
Comptroller OF State each TO keep q separate record
of nll such bonds rs may be Issued, showing the
number date and amount of each boAd and to
whom the same issued and upon what cuim
and its amount: and none of the claims herein spe
cii"d shalt be iquidaed or paid but in the manner
herein provided.
Sec. a The sum of one thousand dollars il hereby
appropriated out of any money in the Treasury not
otherwise appropriated 10 pay the expense that may
he incurred nV q Jrqa in I'm efii
prepared, but the tOmplr lier shall not draw his
warrant The Treasury for this amount until there
is money therein TO pay the same.
Sec. 3 All persons having of Che claims against
the state Of California, entitled 10 be funded here
inaier specified shall, upon The presentation of the
same to ine Treasurer ot the STATE, receive in eX>
change therefor a bond or bonds Of the state Of
California. provided for in the first session Of this
Act; but bond shall be issutd for less sum lhan
five hundred dollars. nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
tifcates ut such fractional parts not bonded which
said cerlific tCs shall b. rHnsferntle ard entitled o
be funded ~ before provided The Treas urer shall
endorse. on the back OF each cluim so received and
hquidated. the date on which he received the same
and from whom ana the number q the bond issued
in exchange therefor, ard such claim shall ne filed IN
the Office of the Secretary Of state.
Sec 6. For the payment within twenty years fthe
princnl and interest Of the bonds issued under This
Act. there shall he levied annually, until the bonds
are paid. and promWly collected IN the sam manner
~ i, may he provided BY law for ordinary state
taxes, Ot thirty cents CCh hundred dol
lars Of the assessed value Ct real and prrs0ntI pro-
pcrV IN HE state. and the fund derived from this
shall BE set apart ant applied exclusively 10 the
payment O the Interest on the bonds herein proVid
ed, and The final redemption Of ihe principal of said
bonds aud the faiih of the State Of Caliior Ia is
hereby pledged for the payment herein provided
of the bonds Issued Toy virtue of This Act and HE n-
teresi thereon and all moneys that may be received
by the State of California from He United States
Government on account Of the Civil Fund. called
are hereby irrevOrably pod2ed to the payment of
the principal and interest on the bonds issued under
this Act wliul refusal or neglect by supervisors
any Other officer To levy collect the tax imposed
by this Act shall he nistemrHtor and tlie person
or persons convicted thereof shall be removed from
Office ond punished by fine not exceeding one thoi
sand dollars, or by imprisonment in The county ail
not exceeding six months, or by both such fine and
imprisonment.
Sec 7 Whenever, on the first day Of u nuary or |
July ~ any year, there remains after the payment of
the mt rest "a hereinafter provided, Surplus of ten
thousand dollars ore, shah be the duty Of he |
Treasurer to advertise for the space of week In
one dally puper published in English, Ia the city Of
New York. and for one month in one daily newspa. |
per published in English Mt the state Capital, Tor
sealed proposals, to be opened one month after The
expiration OF such publications by tie Treasurer in
prrscnce Of lhe Governor Comp prollc at the state
Capital for The surrender Of bonds issued under this
Act, which advertisement shall state The amount Of |
money he has on hahd forthe purpose OF redemption,
and they shall accept the loves proposals, ~ rates
not exceeding par value as may redeem the greatest
amount Of bonds until the amount OF cash on hand |
for redemption is cXhnused 7Torjded, hotrcra, in
case sufficient amount ol such bonds shall not be
Offered, aforesaid. 10 exhaust the sinking fund to
less amount than ten thousand dollars, then il 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 three months. which Gdyer-
tisements shall state the amount in the sinking fund
and the number of bonds numbering them in the
order of their issuance, which such fund ls set apart
10 Day and discharge : and if sdch bonds, mum
bered in such advertiser ents shall not be presented
for payment and cancellation within three months
from the expiration OF such publications then such
fund shall remain in the Treasury to discharge such
bonds wheneveJ presenied--but they shall draw no
interest after such publication ns last aforesaid.
Sec. B. The Treasurer oi State shall keep full and
particular account and record of a his proceedings
under this Act, and of the bonds redeemed aud sur
rendered. md he shall transmit to the Governor
abstract Of all his proceedings uuGer this Act, with
his annual report, 10 be 10y the Governor laid before
the Legislature and all books and papers pertain
ing the matters provided for in this Act shall at all
tines be open to The inspection OF any patty interest
ed. or the Governor, the Attorney General, or a
committee of either branch Of the Leg gslature, or a
joint committee both.
Sec 9. 1t shall be the duty of the Treasurer to pay
The interest on said bonds when the falls due.
ont OF said Interest fund.- il sufficient and said fund
be not sufficient. then TO pay the deficiency ont OF
ihe General Fund; pr0rde4 that the Comptroller of
state shall first draw his warrant the Treasurer
payable to The order Of said Treasurer for the amount
of interest money about to become due, which said
lnteres; warrant shall be drawn AZ least one month
previous to the maturing OF the interest.
Sec. 10. II shall be lee duty of the Governor and
Comptroller 10 attend at least once IN each month
at the Treasurer's Office while said bonds being
issheu' TO examine all claims received 10y the Trea-
surer as aforesaid, aud cause the same to be regis
tered and cancelled in sach manner as 10 prevent
theni from being re-issued or put ia circulation.
sec. u. The following are specified as the claims