The Nevada journal. [volume] (Nevada City, Calif.) 1851-18??, 1857-07-31

| ior tAat purpose
The People Of the Sate of Catfgrnie represented in
Senate and assembly, do c8act foltovs:
SECTION /. For the purpose of lquidating, funding
and paying the claims against the state OF California,
hereinafter specified the Treasurer of State shall
TO be prepared suitable bonds of the State OF aforna,
exceed the of three millions nine hundred
thousand dollars, bearing interest at the rate of
cent per nnnIn from the date OF their issue payable
the State Urea uror ONCE the brst day Of July,
thousand eight hundred and seventy the in
terest accrung said bonds shall be due and payable
the Office OF the Treasurer OF state the first day
January and of July of each year ProUided, That the
first payment of interest shall not be made before TIE
first DAY of January, thousand eight hundred and
fifty nine Said bonds shall be signed by the Governor
and countersigned by Controol, and endorsed by
the Treasurer of State and shall have the seal of the
State affixed thereto
Sec . Coupons the interest shall be attached to
each bond that they may be removed without injury
or nutilaton to the bond Said coupons, consecutvey
numbered shall be signed By the Treasurer of State
| Sc. 3. 1t shall be the duty of the Treasurer and
Controller of Safe each to keep separate record of
all such bonds may be issued showing number
date and amount of each bond and 10 whom the
none the claims herein specified shall be lquidated
! paid but in the manner herein provided.
Sec l. The Of thou-aaG dollars is hereby ap-
propriaed ont any money in the Treasury other
wise appropriated to pay the expense that may be in
CURED 10y the Treasurer III having said bonds prepared
but the Controller shall not draw his the
Treasury for this amount until there is money therein
See > Al persons having any of the claims against
the State OF California entitled to be funded hereina
ter specified shall upon the presentation of The
the Treasurer of receive in exchange therefor
bond or bonds of the State of California provided tor in
the section of this Act but no bond shall be issue
for than five hundred dollars, for fractional
parts of hundred dollars but the Treasurer may is
sue certificates of such fractional parts bonded,
which said certificates all be and entitled
to be funded before provided The Treasurer shall
en- lnrse back Of each claim received and ligu
dated, the da;c which he received the and
from HON, and the number Of the bond issued in
change therefor and such claim shall be filed in the Of
| fee of the Secretary of state
see. Is For the payment within twenty years of the
principal and interest of she bends issued under this
there shall be levied annually until the bonds paid
and promptly collected IN the same manner as Is or may
be provided by law for ordinary State taxes tax of
thirty each one hundred dollar of the assessed
value of real and personal property IN the State and
the fund derived from this tax shall be set apart and APP
Piled exclusively to the payment of the interest the
bonds herein provided aud the final redemption the
principal said bonds and the faith Of the State of Cal
iortia is hereby pledged for the payment herein pro
ed of the bonds issued by virtue of this Act and the
interest thereon and all moneys that may be received
by the state Of California from the United States Gov
eminent of the Civil Fund, called here
by irrevoeaby pledged 10 the payment Of the principal
aud interest the bonds issued der this Act will
fui refusal neglect by Supe any other officer
to levy collect the taxes imposed by this Act shall be
miSdemeanor, and the person or persons convicted
thereof shall he removed from Office ana punished by
fine not exceeding thousand dollars by mprison-
ment IN the county Jail exceeding six months by
both such fiHe and imprisonment
| Sec. T. Whenever the first day OF January or July
in any year there remains after the payment Of the III
terest hcreinbefre jcd, surplus of thous
and dollars shall be the duty of the Treasurer
to avertisc for the space week daily news
paper Published in English, in the city of New York
and for month in daily newspaper publ shed in
English at the State CAPITAL for sealed proposals to be
opened one month after the expiration of such pubca
tons by the Treasurer presence Of the Governor
Controller at the State CAPITAL for the surrender of
bonds issued under THE Act which advertisement shall
the amount Of money he has hand for the par
pose of redemption aud they shall accept the lowest pro
posals at not exceeding value. may redeem
the greatest of bonds until the cash
hand for redemption is exhausted; prorjded hoersr, in
case sufcicrt aacun; Of such bonds shall be offer
ed, aforesaid. exhaust the sinking FIND . less
amount than thousand collars, then it is hereby
made the duty of the Treasurer TO advertise in two
newspapers one IN New YORK and one at the apal OF
This ta:c for three months, which advertisement shall
state the amount in the sinking fund and the number
bonds Numbering them in the er Of their issuance
which src fund is set art pay and discharge, and
ii 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 i'll the Treasury to discharge
bonds whenever presented but they shall draw no
interest after such publication as last aforesaid
Sec :. The Treasurer Of State shall keep full and
particlar account aud record of all his proceedings nm
der this Act and of the bonds redeemed and surrender
ed and he shall transmit to the Governor abstract Of
all his proceedings under this Act, with his annual
port be by the Governor laid before the legislature
and all books and papers pertaining to the matters pro-
viied for in this Act shall all times be open the in
specon of any party nterestcd the Governor the
Attorney General committee of either branch the
Legislature. joint committee of both.
Sec 9 II shall be the inty of the Treasurer to pay
the interest said bonds when the falls due,
interest fund il sufficient and said fund not
sufficient thrn 70 pay the deficiency out of the General
Fund; Procide that the Controller of State shall first
draw his warrant the Trea payable the or
of the amount interest
about 70 become due which said interest warrant shall
he drsvn at least one month Irevious to the n,atrino
| of the interest
Sec 10 II shall be the duty of the Governor and Con
troer to attend at least once in each month at the
Treasurers Office while said bonds are being issued 10
examine all claims received bv the Treasurer as anre-
said and cause the same to be registered and cancelled
in s1rh manner TO prevent them from being reisSed
or put in circulation
Sec H. The following are specified as the claims
which are entitled to be received and funded under this
Act: First Civil bonds of the State issued under the
funding Acts passed in the wears 1851 1852 1853 1855
and 1856 which are now outstanding with interest dne
on the same when presented As appears bv the coupons
second Controllers warrants drawn undcr sanction or
law for civil expenses prior to January first d. 1851
and outstanding aud unpaid hat the provisions of
this Act shall authorize the funding of any of those
warrants. the registration and endorsement Of which
were cancelled. or req tired be cancelled BY the pro-
visions of An Act to cancel the regis ration and in
dorseuent of warrants and prohibiting the nav
ment Of the same" approved January 30lh 4 d is56
OF warrants which have been specifically adiuIred lie
gal hv an. Court and all said warrants specified in the
last mentioned Act are hereby expressly excluded from
all the benefits anil provisions of this Act Third Inst
or legal claims against the State accrued prior to Janua
LIST 1851 and which NAV be allowed and audited by
Act the Legislature And if the Treasurer of State
SHAH yil,lv issne bonds anon claims not herein spec
fed as receivable It sh.I1 he deemed isdoneanor and
he shall he npnishel as rrded in oct;on Is OF ths A.