Oroville daily Butte record., 1857-09-10

Witness my hand, and the great seal of State. at
OF in Sacramento, California the twenty sixth 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-
MA and to contract Funded Debt for
that purpose.
The Peole Of HE STATE of Ca'orpio, appreciated IN
Senate and .9ssemJty. do enact as toiiors
SECTION / For the purpose of liquidalinc, fund
ing, and paying the claims against the state Of Cali
fornia hereinafter specified. ihe Treasurer Of state
shall TO be prepared suitable bonds OF the state
OF California. not Ia exceed the sum OF ;hree millions
nine hundred thousand dollars, bearing interest at
the rate of per cent. per annujn from the cate
OF their ISSUE payable at the state lreGsurers Office.
the first day of July. thousand eight hundred
and enty-scVen: the interest acCruiu2 on said
bonds shall be due and payable at tlle Office of the
Treasurer of State on the irs day of January and of
July of each year: PToridcf. Thai ta first payment
of interest shall not be made before the first day of
ia uary. one thousand eight hundred and fifty nine
Said bonds shall be signed 10y the Governor. aud
eouutersigned by the Comptroller. and endorsed by
the Secretary Of state, and shall have the seal Of the
State affixed thereto.
/ Sec 2 Coupons for The interest shall be attached
10 each bond so that they may be removed without
injury or mUlilaiion TO the bond. Said coupons.
secuvcly numbered. shall be signed by the Treas
urer of state.
Sec g. 1t shall be the dGy OF the Treasurer and
Comptroller OF state each 10 keep separate record
OF all such bonds as may be issued. showing the
number date and amount of each bond, and to
whom The same was issued and upon what claim,
and its amount: and none Of the claims herein spe
Gifted shall be iiquidued or paid but in the manner
herein provided.
sec J. The sum of one thousand dollars i. hereby
appropriated out of any money in the Treasury not
Otherwise appropriated to pay the expense that may
be incurred by tRe Treasurer in having sad bonds
prepared, but the Comptroller shall not draw his
warrant on 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 be funded as here
matter specified, sha'l upon the presentation of the
to the Treasurer OF the state. receive in eX>
change therefor bond or bonds Of the State of
California provided for IN the first session Of this
Eci but no bond shall be ssutd for less sum than
five hundred dollars, Eor for fractional parts OF
hundred dollars. but the Treasurer may issue GER
tiHcates ot such fractional parts not bonded, which
said certificates shall be transferable and entitled to
/ be funded before provided. the Treasurer shall
endorse. the hack of c0ch clain SO received and
lquidaed. the date on which he received the same.
! and from whom. and the number at the bond issued
in exchange hCrcfn AID such claim shall De filed in
| the Office ofthc Secretary OF state.
Sec q. 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 collected in The sam manner
as Is or may be provided by law for ordinary state
taxes. tax of thirty cents on each one hundred dol
lars of the assessed value OF real and persona! pro-
pertv in the state, and the fund derived Irutn this
tax shall be set apart AMI applied exclusively W the
payment Of the interest ON the bonds herein pr0vid
ed and the final redemption OF he principal of said
bonds aud the faith Of the Stale of California is
hereby pledged for the payment ns herein provided
of the bonds issued by virtue of this Act and the in
terest thereon and all moneys that may be received
bv the State of California from the United States
Government account OF the Civil Fund. so called.
are hereby rrevocaby pledged 10 the payment Of
the principal and interest ON the bonds issued under
/ hie Act will fIl
or any Other officer to levy collect the tax imposed
/ by this Act, shall be misdemeanor, aud the person
or persons convicted thereof shall be removed from
Office and punished Ivy line not exceeding one thou-
sand dollars, or by imprisonment in the county jail
not exceeding six months or by both such fine and
Imprisonment.
| Sec. T. Whenever. on the first day of Jfnuayy or
July in any YEAR there remains after the payment of
the interest as hereinafter provided, surplus of ten
thousand dollars one, II shall be the duly of the
Treasurer advertise for the space of week in
one dmy paper published in English, Ia The city of
New York. and for one month in one daily ncwSpa-
per published in English at the state capital for
sened proposals. to be opened one month after The
expiration of such publications by the Treasurer, in
presence of the Governor or Comptroller at the stale
Cnpita for the surrender of bonds issued under this
Act. which advertisement shall state the amount of
money he has OH hahd forthe purpose OF redemption
and they shall accept the loves proposals, III rates
not exceeding par value as may redeem The greatest
amount OF bonds until the amount OF cash on hand
for redemption is exhausted; Ir1ridel. horere', in
case sufficient amount ol such DnHu> snail nOl be
offered. AZ 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
in two neWs papers, one in New ork and one a the
Capital of the state, for .hree months, which adver
tispmens shall state the amount in the sinking fund
and the number of bonds numbering them in tho
order OF their issuance which such fund set apart
TO nav and discharge; ana if such bonds, SO num-
berod in such advertiser entS shall not be presented
! for payment and cancellation within three months
froui the expiration OF such publications. then such
fund shall remain in the Treasury 10 discharge such
bonds whenever preseGcd-but they shall draw no
interest after such publication as last aforesaid.
Sec. 3. 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 sur
rendered. ind he shall transmit to the Governor
abstract of all his proceedings unuer this Act, with
his annual report, he by the Governor laid before
the Leg stature and all books and papers pertain
ing to the matters provided for in this Act shan at ali
times be open to The inspection of any patty interest
ed, or the Governor, or the Attorney General Il
committee of either branch of the Legislature, ora
Joint committee of both.
sec O. IL shall be the duty Of the Treasurer to pay
the interest said honas when The same falls due.
uut oi said interest fund, If sufficient. and If SAID fund
he not sufficient, then to pay the deficiency ont Of
the General Fund: proDided, that the Comptroller of
State shall first draw his warrant on the Treasurer,
PAYABLE to the order of said Treasurer for the
| 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.
Sec. 10. II shall be he duty of the Governor and
Comptroller to attend, at least once In each month.
at the Treasurers Office, while said bonds are being
issued. to examine all claims received by the Trea
surer as aforesaid, aud cause the To be regis.
tered and cancelled in such manner as tO prevent
them from being ressued or put la circulation.
| Sec. II. The following are specified as the claims
which are entitled TO be received and funded under
anft tha t4 gnHar