Oroville daily Butte record., 1857-08-27

witness my nhnu, ana lne great seai ol 0t''e' ~
of ce in Sacramento, California the twentysxth day
of May, A. D. 1857. DAVID 7. DOUGLAS.
[srAL.l Secretary of State.
CHAPTER CCXL1N.
An Act TO provide for Paying certain Equit-
able Claims against the State OF Califor
mia, and to contract a Funded Debt for
that purpose.
THe Peoptc Of the state Of California, represented an
Sepate and .4ssembiy. do enact as foiIo1s
SECTION For the purpose Of quidating, fund
ing. and paving the claims against the Stale Of ta.
furnia. hereinafter specified the Treasurer Of State
shall cause 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 per cent per annnm tfori the cate
OF their ISSUE payable at the state Treasurcr's Office,
the fret day of July, one thousand eight hundred
and enty.seven: the interest accruing on said
bonds shall be due and PAYABLE at the Office of the
Treasurer Of State the first day OF January and of
July Of each wear: PrOr'ded That the first payment
Of interest shalt not be mnde before the first day OF
ia uary. thousand eight hundred ana fifty nine.
said bonds shall be signed by the Governor. and
countersgnrd by the Comptroller. and endorsed Ivy
the Secretary of state, and shall have the seal of the
State affixed thereto.
sec 2. Coupons for tn interest shall be attached
to each bond so that they may be removed without
injury or mulation to the bond. said coupons,
secutvely numbered. shall be signed by the Treas
urcF Of state
.
Comptroller Of State each 10 keep separate record
of Nil such bonds as may be issued. showing the
number date and amount of each bond, and to
whom the same was issued. aud upon what claim,
and iis amount: and none of the Claims herein spe
Gifted shalt be liqu.daed or paid but in the manner
herein provided.
See T. The sum Of one thousand dollars IA hereby
nj propratpd out of any money in the Treasury not
otherwise appropriated To pay the expense that may
be incurred iy me Treasurer in having said bonds
prepared. but the Comptroller shall not draw his
warrant on the Treasury for this amount urul there
is money therein 20 pay the same.
Sec. 3 An persons having any of The claims against
The state of California eutllrd 10 he funded a~ here
inafer specified, shall, upon The presentation @t the
same to me Treasurer OF The SGte, receive IN eN,
change therefor Il bond or bonds of the Snte Of
California; provided for la the frat session ~ this
Act: bat no bond shall he ssutd for less sum than
i've hundred dollars. nor for fractional parts OF
hundred dollars, hut the Treasurer may issue GER
tlHcate> q, such fractional parts not bonded, which
said certificates shall be transferable aud entitled to
be funded ~ before provided The Treasurer snail
endorse. on The back of each claim so received and
Iquidaied, the date on which he received the same
ard from whom. and The number ot lhe bond issued
in exchange therefor and such claim shall filed IN
the office oflhc secretary OF state.
SEC g. For the payment within twenty wears Of the
pal and interest of the bonds issued Uutor ms
Act, there shall be levied annually. uni the bonds
are paid. ani pr0mutlN collected ia the manner
~ is or may be provided by law for ordnHry state
taxes tax Of thirty cents on each one hundred dol
perty in the state. and the fund derived from this
lax shall be set apart AMI applied exclusively 10 the
payment of the interest ON the bonds herein provid
ed, and the final redemption OF the principal ~ sad
bonds and the faith of the State of CHlifor IN Is
hereby pledged for the payment "a herein provided
of The bonds issued by virtue of this Act and the jn-
tcre-t thereon ard all moneys that may he rec lived
bv the state uf California from the United States
Government ON account OF the civil Fund called.
nre hereby rrevOcaby pledged to thr payment of
the principal and interest on the bonds issued under
this Act a wltul refusal or neglect by supervisors
or any ohcr officer TO levy or collect the tax imposed
hv this Act. shall be a mi>demeunor and the person
or persons convicted thereof shall be removed from
Office aud punished by fine not exceeding one thou
sHHd dollars. or by imprisonment IN the county ia.
not exceeding six months. or by both such fine ana
/ nprsonment.
ser. 7 whenever. on the first day of Jfnuary or
July in any year, there remains after the payment Of
the interest hereinafter provided. surplus OF ten
Thousand dollars or ore, il shall be the duty Of the
Treasurer to advertise for the space Of one week in
one daily paper published in English, in the city ot
New York, and for one month in one daily neWspa-
per published in English at the state Capital, FOR
sealed Dropusnls. 20 be opened one month after the
cxpiratiun o such publications by the Treasurer, in
presence of The vernon or Comp roller. at the state
Capital for the surrender Of bonds issued under this
Act winch advertisement shah state the amount of
money he has on hald Urthe purpose ot redemption,
and they shall ncCept the loves proposals, at rates
not exceodin, par value rs may redeem the greatest
amount of bonds until the amount OF cash on l.a'd
for redemption Is exhausted; TTpcib6i. h}UCt5, ~
case n sufficient amount -! such bonds shall not De
nnercd ae nloresai, TO exhaust the sinking und tu
Iesa amount thrn ten thousand d0Iiars then y i,
hereby nhde the duty Of the Treasurer t' aver te
in TWO news papers. one in New YORK a"i one ~ TIE
(atial OF tie state. for :hcee mouths which utVer~
stmcntS shall state the amount IN the sinking iuud
and lhe number of bonds Numbering them ia the
order Of their issuance which such fund Is sct apart
to nav and discharge: ani If sdch bonds 50 num-
berd in such advertiser enis snail not De presented
for payment and cancellation within three months
from the expiration OF such publication, then suca
fiud shall r. main in the Treasury l0 dischtree such
bonds whenever prcsened-Aui tnty sh'ui draw ho
interest after such publication a- last aforesaid.
Soc =. The Treasurer oI State shall keep fan 91l
nnrri,4r account and record ot ali bis proceedings
nn,,r fhis Act. ami Of the bund- redeeuet sud sur
rendered ind ne shall transmit to the Governor on
a6,tract Of al his proceedings uuucr this Act win
his anuunl report. 70 BE- by itc hovcrnnr l'd before
the Legislature and all books md papers pertain
ing to Ihe matters provided for in this Act sha at al
lines he open 70 the inspection of any pa ~ interest
ell. or the Governor, or the Attorney General, or
of either branch of the Legislature, or
Joint committee oi both.
Sec O. It shall be the duty of the Treasurer to pay
;he iut,rest ON said bonds when the same falls due.
ont ct said interest fund il sufficient. and II SAID iund
be not sufficient. then TO pay the deficiency ont of
the General Fund pr0riied, that the Comptroller OF
State shall first draw his warrant on the treasurer,
payable to the order of said Treasurer for the aoul
OF interest money about to become due, which said
interest warrant shall be drawn at least one month
previous 10 the maturing Of the Interest
Sec. 10. Il shall be The duty OF the Governor ana
Comptroller to attend, at least once in each nohth.
at the Treasurers Office, while said bonds are pehg
issued. TO examine all claims received 10y the Irea-
surer as aforesaid and cause the same 10 DC regis
tered and cancelled in such manner as Ia prevent
them from being re-issued or put la circulation
Sec. IL. The following are specified us the claims
which are entitled to be received and funded under
A