Mariposa Democrat., 1857-07-23


SEc g. All persons having any of the claims against
the State Of California, entitled 10 be funded as herein
after specified shall upon the presentation of the same
to the Treasurer Of state, receive IN exchange there
for bond or bonds of the State of California provided
for in the first section of this Act but bond shall
be issued for less sum than five hundred dollars
for fractional parts Of hundred dollars, but the
Treasurer may issue certificates of such fractional
parts not bonded which said certificates shall be trans
ferbe and entitled to be funded before provided
The Treasurer shall endorse the back Of each claim
received and lquidated, the date on which he re-
ceived the same, and from whom, and the number OF
the bond issued in exchange therefor and such claim
shall be filed in the office 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 the bonds are
paid and promptly collected in the same manner as Is
may he provided by law for ordinary State taxes
tax of thirty cents each hundred dollars OF the
assessed value Of real and personal property in the
State and the fund derived from this tax shall be set
apart aud applied exclusively to the payment OF the
interest on the bonds herein provided and the final
redemption of the principal Of said bonds and the faith
Of the State of California is hereby pledged for the
payment as herein provided of the bonds issued by
virtue of this Act, and the interest thereon and all
moneys that may he received by the State Of Cafor
mia from the United States Government account of
the Civil Fund.- so called are hereby iTevocaby
pledged to the payment of the principal and interest
on the bonds issued under this Act. willful refusal
or neglect by Supervisors any other officer TO levy
demeanor, and the person or persons convicted there
of shall he removed from Office and punished by fine
not exceeding thousand dollars, or by imprison
men in the county jail not exceeding six months or
by both snch fine aud Imprisonment.
SEC. Z. Whenever, on the first day of January or
July in any year. there remains after the payment Of
the interest hereinbeiore provided surplus OF ten
thousand dollars or more it shall be the duty OF the
Treasurer to advertise for the space of one week in
one daily newspaper published in English, in the city
OF New York, and for one month in one daily news
paper published in English at the State Capital, for
sealed proposals. u he opened one month alter the eX
piraton Of such publications by the Treasurer, in the
presence Of the Governor or Comptroller at the State
Capital for the surrender Of bonds issned under this
Act, which advertisement shall state the amount OF
money he has hand for the purpose OF redemption,
aud they shall accept the lowest proposals. at rates not
exceeding par value, as may redeem the greatest
amount Of bonds until the amount of cash on hand for
redemption Is exhausted pr0ridod hotrerer, in
sufficient amount Of such bonds shall not he offered
10 exhaust the sinking fund to less amount than ten
thousand dollars then it Is hereby made the duty of
the Treasurer to advertise in two newspapers one in
New York and one at the Capital Of this State, for
three months, which advertisements shall state the
amount in the sinking fund and the number Of bonds
numbering them IN the order OF their issuance which
such fund is set apart to pay and discharge and
such bonds numbered In such advertisements 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 10 dis
charge such bonds whenever presentedbut they shall
draw interest after such publication as last afore
said.
SRc. g. The Treasurer of State shall keep full and
particular account and record Of all his proceedings
under this Act. and Of the bonds redeemed and
rendered aud he shall transmit 10 the Goyernoran ali
stract Of all his proceedings under this Act with his
annual report TO be by the Governor laid before the
Legislature and all books and papers pertaining to
the matters provided for in this Act shall at all times
be open to the inspection Of any party interested
the Governor, the Attorney General, or a committee
Of either branch of the Legislature, or joint com
mittce OF both
SIC. o. 1t shall be the duty Of the Treasurer to pay
the interest on said bonds when the falls due ont
of said interest fund.- If sufficient and If said fund be
not sufficient, then 10 pay the deficiency out Of the
General Fund. Propded 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 10 become due, which said
interest warrant shall be drawn at least one month
previous to the maturing OF the interest.
SIC. TO- 1t shall be the duty of the Governor and
Comptroller to attend at least once in each month"; at
the Trcasurer's Office while said bonds are being H.
sued to examine all claims received by the Treasurer
aforesaid and cause the same to be registered and
cancelled in such manner as TO prevent them from
being reissned or put in circulation.
SEC. II. The following are specified as the claims
which are entitled 10 be received and funded under
this Act First, Civil bonds of the State issued under
the funding Acts passed In the years 1851 1852 1853
1856, and 1856, which now outstanding, with in
erest due on the same when presented appears by
the coupons Second Comptrolers warrants drawn
under sanction of law for civil expenses prior 10 Jan
uary lst, A. d. 1851 and now outstanding and un
paid but the provisions Of this Act shall not authorize
the funding Of any Of those warrants, the registration
and endorsement Of which were cancelled or required
To be cancelled by the provisions of" An Act TO cancel
the registration and endorsement Of certain warrants
and prohibiting the payment Of the samen approved
January 30th, A. ID. 1886, or warrants which have
been specifically adudged illegal by any Court and
all said warrants specified in the last mentioned Act
are hereby expressly excluded rom all the benefits
and provisions Of this Act Third, just Orega claims
against the State accrued prior TO January lst 1851
and which may be allowed and audited by Act OF the
Legislature And If the Treasurer of State shall will
fully issue bonds upon claims not herein specified as
receivable, it shall be deemed misdemeanor, and he
shall be punished as provided in section Of this Act
and such bond shall be void
SEC. H. The claims specified In this Act may he re-
cevcd for funding and bonds therefor NAV he issued
prior TO the first day Of January 1850, but not after
wards: and all cains not presented for funding prior
10 that time, are excluded from the provisions of this
Act, and such blank bonds prepared under the prpys
ions of this Act shall then remain on hand, shall be
destroyed in the presence of the Governor, Comptroller
and Treasurer.
SEC. 49, This Act shall take effect on the first day
of November, A. d. 1857, TO all its provisions, ex
cept those relating to, and necessary for its subns
sion to the people, and for returning canvassng and
proclaiminy the votes-which shall take effect i'm
medately
SIC. H. This Act shall be submitted TO the people
of the State for their ratification, at the next general
election 10 be holden the first Wednesday Of Sep
tember A. d. 1851 and the qualified electors Of this
State, SHALL at said election their ballots for state
officers vote for against this Act those voting for
the same, shall write have printed on their ballots
the words Pay the Debt and those voting against
the same, shall write or have printed on their ballots
the words =" Repudiate the Debt"
SEC. l5 The votes cast for and against this Act,
shall be counted, retumedand canvassed and declared
in the manner and subject to the rules as
votes cast for the Treasurer Of State and if II appear
that majority of al the votes cast for AGAINST
this law, aforesaid or in favor of this Act then the
same shall have effect herenbelore provided and
shall be iepeaabe until the principal and interest Of
the liabilities herein created shall he paid and dis
charged, and the Governor shall make proclamation
thereof; but If majority Of the votes so cast are
against this Act, then the shall become void.
SEC. l6. 1t shall be the duty of the Secretary Of
State to have this Act published in newspaper in
each Judicial District ofths State if one be published
therein for three months next preceding the general
election to be holden upon the first Wednesday Of Sep
tember next for which publication no greater allow
ance shall he made than the rates allowed by law to
the State Printer
Approved April 2sth, 1857. jell 3m
Arthur w. Joc,