The Nevada journal., 1857-08-21
Legal advertisements.
Published by Authority.
a N ACT

The People of the State of California, represented IN
Senate and assembly, do enact as toHons
SECTION L. For the purpose of iquidating funding
and paying the claims against the state OF California
hereinafter specified Treasurer of State shall cause
to prepared suitable bonds of the State of california,
to exceed the of three millions nine hundred
thousand dollars bearing interest at the rate OF seven
per cent per annu the date of their ISSUE payable
State Treasurer's office the first day Of July
one thousand eight hundred ard seventy seven the in
teres accruin on bonds shall be due and payable
Office of the Treasure of State on the first day of
January anu Of July Of each year. Prorided, That the
first payment of interest shall not be made before tie
first day of January thousand eight hundred and
fftyni Said bonds shall be signed by the Governor
and countersgned by the CONTROLLED and endorsed by
the Treasurer 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
mutilaton the bond Said coupons consecutively
numbered shall he sgnej by the Treasurer of State.
Sec 3. 1t shall be the duty of the Treasurer and
Controller of State each keep separate record of
all such bonds may be issued, showing the number
date aud of each bond, and TO whom the same
was issued and upon claim, and its amount and
of the claims herein specified shall be hqdaed or
paid but in the manner herein provided
Sec The sum of one thousand dollars is hereby ap
uropriated out Of any money in the Treasury not other
wise appropriated 10 paw the expense that may be in
Cured in having said bonds prepared
but the Controller shall not draw his warrant on the
Treasury this amount until there is money therein 10
Sec s All persons having any of the claims against
the State California entitled to be funded as hereina
ter specified shall upon the presentation of fine same to
she Treasurer of State receive in exchange therefor
bond or bonds of California, provided tor in
the this Act out no Donu snaH issueh
for less than FIVE hundred dollars nor for
al parts hundred dollars, but the Treasurer may is
sue certificates OF such Iraetiona parts nor
which said certificates shall be transferable and entitled
to be funded as before provided The Treasurer shall
endorse the back of each claim so received and ul
dated, the date which he received the same. ana
from whom and the number of the bond issued in ex
change therefor and such claim shall be filed in the of
fee of the Secretary of State.
Sec g. For the payment within twenty years OF the
prncipa and of the bonds issued under this Act
there shall he levied annually until the bonds paid
iiagta1 in he
be provided by law for ordinary state taxes tax OF
thirty each hundred dollars of the assessed
value of real and personal property IN the Sae ana
the fund der this shall be set apart and ap-
piled exclusively 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 CAT
fnrnia is pledged for the payment as herein pro-
ded of the bonds issued by virtue OF hS Acl' anu tne
interest thereon and all moneys that may be received
by State of California from the United States GOV
of the Civil Fund.- called are here
by irrcvocahlv pledged the payment OF the principal
and interest the bonds issued under this Act VIII
full refusal neglect by Supervisors or any other ocer
levy collect the taxes imposed by TINS Act snan oe
4 misdemcanor aAd the person or persons convicted
thereof shall be removed from office ana punished oy
exceeding thousand dollars or by imprison-
men in Jail not exceeding six months, or by
both such fine and imprisonment
Sec Z Whenever on the first day of January or July
in nnv year there remains after the payment of the IN
tares as hereinbefore provided, surplus of ten thous
dollars it shall be the duty OF the treasurer
to dyertise space of week, one daly neVs
paper published in English, in the city of New FORK
and for one month in daily newspaper published in
opened one month the expiration of such publca
ton by the Treasurer in presence of the Governor OF
Controller at the State Capital for the surrender OF
bonds issued under THE Act which advertisement sha
state the of he has on hand for the pur
pose redemption aud they shall accept the lowest pro-
posals at rates exceeding par value may redeem
she greatest of bonds un the amount of cash on
hand for redemption is exhaused Prorded hoHerer IN
case sufficient of such bonds shall not be offer
cd As aforesaid exhaust the sinking fund to less
amount than thousand dollars, then is hereby
made the duty of the Treasurer to advertise in two
New York and at the tapt2l OF
this state for three months which advertisement sha
state the amount in the sinking the number OF
bonds ing them in the Of their issuance
which such fund is set apart to pay aud discharge and
If such bonds So numbered In such shall
not be pres nted for payment and cancellation within
three IS from the expiration OF such publlcaton
then c nd shall remain in the Treasury TO discharge
sch bond whenever presented but they shan draw no
interest after such publication as last aforesaid
Sec. 8. The Treasurer of State shall keep full and
particular and record Of all his proceedings I'M
der this Act and of the bonds redeemed and surrender
ed and he shall transmit to the Governor an abstract OF
all his proceedings under this Act with ms annual re-
port to be by the Governor laid before the Lesiatue
all books and papers pertaining TO the matters pro-
vded for in this Act shall at all times be open to the in
s2econ OF any party interested or the or
Attorney General committee of either branch of the
Legislature, joint committee of both.
Sec. 9. 1t shall be the duty of the Treasurer to pay
tho interest on said bonds when the falls due
of said interest fund il sufficient and said fund be not
sufficient then to pay the deficiency the General
Fund Prorided that the Controller
draw his warrant the Treasurer payable to the
der of said Treasurer for the amount Of money
about to become due which said interest shall
be drawn leas: month previous to the maturing
of the interest.
troer attend, at least i'll each month, at the
Treasurers Office while said bonds are being issued to
examine all claims received by the Treasurer as aore-
said and the TO he registered and Cancelled
in such as to prevent them from being reisued
put in circulation.
See IL The following are specified the claims
which entitled be received and funded under this
Act: First, Civil bonds of the State issued under the
funding Acts passed in the 1851, 1882 1883 1883
and 1885, which outstanding, with interest due
the when presented appears by the coupons
Second Controllers warrants drawn under sanction OF
law civil expenses prior January first A D. 1857,
and outstanding and unpaid but the provisions of
4hs shall authorize the funding of of those
warrants, the regstraton and endorsement of which
cancelled required to be cancelled by the pro
visions of An Act cancel the registration aud in
orsement of warrants and prohibiting the pay
of the same, approved January Both, A d. le56
gal by any Court and all said warrants specified in the
mentioned Act hereby expressly excluded from
ali the benefits and provisions of this Act Third Just
or legal against the State accrued prior Janua
ry lst 1851 and which may be allowed and audited by
Act of the Legislature And if the Treasurer of State
shall vifuliy issue bonds upo, claims not herein spec
fed receivable it shall be deemed msdemeanor and
he shall be punished provided in section of this Act
and such bond shall be void
Sec - The claims specified in this Act may be
ceved funding. and bonds therefor may be issued
prior to the first day OF January, ls's oHr nor amer
that time are excluded from the provisions of this Act
and such blank bonds prepared under the provisions of
this Act as shall then remain on hand shall be destroyed
in the presence of the Governor Controller and Treas
Sec l3- This Act shall take effect on the first day of
November A d. 1857, TO all its provisions, except
relating and necessary submission the
people and for returning canvassing aud proelaming
the votes-which shall take effect immediately
Sec IL This Act shall be submitted to the people of
the State their ratification the general cleo
ton to holden the first Wednesday of September
A. D. 1857 and the qualified electors of this State shall
Mt said election their ballots for State officers,
for or against this Act those voting for the same, shall
write have printed their ballots the words Pay
the Debit" and those voting against the same shall
write printed their ballots the words Repu-
dlate the Debt
l5 Thevotes cast for and against this Act shall
Sc counted returned and canvassed and declared, in
the same manner and subject the rules votes
cast for the Treasurer of State, and it appear that
majority of all the cast for against this law
IS Aforesaid or of this Act then the shall
have effect hereinbefore provided and shall be ire
peaable until the principal and interest ofthe liabilities
herein created shall paid and discharged, and the
Governor shall make proclamation thereof; but If
majority of the against this Act then
the same shall become void.
Sec IT, 1t shall be the duty of the Secretary OF state
&c have this Act published in newspaper IN each Ju-
6icia District of this State if be published therein
for three months preceding the general election to
be holden the first Wednesday of September next
for which publication, greater allowance shall be