Oroville daily Butte record., 1857-09-05
LEGAL NOTICES.
TBY AUTHORITY.1
V ote on the state Debt.
OFFIcE OF SECRETARY OF STATE.
SacramentO, California, May 26, 1857. 1

| State OF the state oi California do hereby GER
tiy that the annexed is true and correct copy OF
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 sixth day
OF May, A. d. 1851. 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 a Funded Debt for
that pukpose
The People Of The State ef California, represented in
Senate and assembly do enact as JoliouS:
SECTION For the purpose of liQuidating. fund
ing, and paying the claims against the state of Cali.
ornia, hereinafter specified. the Treasurer of State
ha cause 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 seven per cent per annnm from the GATE
of their issue, payable at the State reasurers office
on the ir.t day of July. one thousand eight hundred
and Sc enty- y-seyen the interest accrnn2 s1d
bonds shall be due and PAYABLE at The Office of the
Treasurer OF Slate the first day of January and of
July Of each wear: Pr0rided That the first payment
ofint"rest shall not be made before the first day of
ia nary. one thousand eight hundred ani fifty nine.
Said bonds shall he signed 10y the Governor. and
counersgnPd by the Comptroller. aud endorsed by
the Secretary of state and shall have the seal OF the
State affixed tbs rcto
Sec 2 Cour ons for The interest shall be attached
TO each bond So that they may be removed without
injury mutila iinn to the bond. said coupons. con-
secutivcly NUM- bered shall be signed by the Treas
urer OF STATE.
Sec 8. 1t shall be the duty of the Treasurer and
Comptroller oi State each 10 keep separate record
Of NIL such bonds as may be issued, showing tho
number. date aud amount of each bOhd, and To
whom he same was issued. and upon what claim,
and its amount: and none of the c!ainS herein spe-
Gifted shalt be liquduted or paid but in the manner
herein provided.
See H. The sum Of one thousand dollars il hereby
arr roprated out Of any money IN the Treasury not
otl erwise appropriated to pay the expense that may
be incurred by ne Treasurer in having said bonds
prepared, hut The Comptroller shall not draw his
warrant The Treasury for this amount until there
is money therein To pay The same.
Sec All persons having any of the claims against
the state of California, entitled To he funded rs here
inafer sDecifed shall upon the presentation af the
same To ihe Treasurer OF the state receive in eX>
change therefor bond or bonds o. the State OF
California. provided for in The frat scsli"n OF this
Act; but no bond shall be isutd for less sum Than
five hundred dollars nor for fractional parts of
hundred dollars. but the Treasurer may issue Ger
lifcates o such fractional paris not bonded. which
said ceri;hc tcs shall be transferable aud entitled 10
be funded as before provided The Treasurer shall
endorse, On the hack of each claim so received and
hquidaied. the date on which he received the same.
and from whom. and The number e The bond issued
/ in exchange thereto and such claim shall De iled IN
the office Of The Secretary OF state.
| Sec g. For the payment within twenty years ofthe
principal and interest of the bonds Issued under his
Act. there shall he levied annually. until the bonds
are paid and promptly collected in the sam manner
az is or may Ne provided by law for ordinary state
taxes. u tnx of thirty cents on ench one hundred dol
lars OF the assessed value ol rea and prrsonn! pro-
pert, in tie state. and the fund derived from This
tax shall be set apart AMI applied exclusively 10 tho
payment of the Interest on the bonds herein proVd
ed. aud the Ennl redemption OF the principal nf said
bonds and The fniih of the state of taliior n l.
hereby pledged for the payment rs herein provided
of the bonds issued by virtue of this Aci, and The in
tpres thereon and all moneys that may be rec ivcd
by the state of Gahiornin from the Nnited Stntes
f nj,
are hereby irrevocably pledged Ia the pay yment Of
the principal and interest on the bonds issued under
this Act A wilml refusal or neglect by Supervisors
or any other officer TO tVy or colec the tax imposed
bv this Act. shall be u n>dempanur. aud the person
or persons convicted thereof shall be removed from
office and punished hy fine net exceeding one thWl-
sand dollars, or ny imprisonment in The count! jail
not exceeding six months, or by both such fine and
! imprisonment.
| Sec. Whenever, on the first day of Jenuary
July in any year, there remains, after the payment Of
the interest rs hereinafter provided. surplus of ten
thousand dollars ore 4 shall be the duty OF the
Treasurer to advertise for the space of one week in
one daily paper published in English il, The city Of
New York, and Tor one month IN one daily neWspa
per published in English NJ 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 Comp roller. at the STATE
Capital for the surrender Of bonds issued under this
Act, which advertise ment shall STATE tho amount of
money he has hand for the purpose OF redemption,
and they shall uccept the loves propOsals at rates
not exceeding par value as may redeem the greatest
amount OF bonds until the amOun' oi cash on hand
for redemption Is exhausted; JT0otdcd hotcerr, in
case IA sufficient amount {" such bonds shall not be
offered as aforesaid, to exhaust the sinking fund To
less amount than ten thousand dollars. then IL is
hereby made the duty OF the Treasurer to advertise
i'm two newspapers, one in New York md one at the
Canita of the state. for hree months, which adver
tisements shall state the amount IN the sinking fund.
and the number of bonds numbering them in tho /
order of their issuance, which such fud set apart
to nav and discharge; ana if such bonds, So num-
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 to discharge such
bonds whenever preaen;cd--hut they shall draw no
Interest after such publication us last aforesaid
Sec 8. The Treasurer OF State shall keep full and
rortcular account and record CT all his proceedings
under this Act and Of the bonds redeemed and
rendered, md he shall transmit to the Governor an
abstract of all his proceedings this Act with
his annual report to be by the Governor laid before
the Legislature and all books and papers pertain /
ing to The matters provided for in this Act, shall ut All
times be open to the inspection of any pa y interest
ed or the Governor, or the Attorney General, or
committee of either branch Of the Legislature, or
Joint committee oi both.
Sec Q. II shall be the duty of the Treasurer 20 pay
he interest on said bonds when the came falls due.
ont OF said interest fund ii sufficient, and if said fund
be not sufficient. then To pay the deficiency out Of
the Goueral Fund.- P-ouidd, that the Comptroller OF
State shall first draw his warrant the Treasurer,
payable the order of said Treasurer tor the amOu@t
of interest money about to become jGe which said
interest warrant Shall be drawn least one month
previous TO the maturing Of the interest.
See TO- II shall be lhe duty OF the Governor and
Comptroller to attend, at least In each month
at the Treasurer's Office, while said bonds beug