The Nevada journal. [volume] (Nevada City, Calif.) 1851-18??, 1857-07-10

the State California and TO contract Funded Debt
for that purpose.
The People Of The State Of California rpreseated in
Senate and assembly do as folIocs:
SECTION l. For the purpose of liquidating funding
and paying the claims against the STATE OF California
hereinafter specified the Treasurer of State shall cause
TO be prepared suitable bonds of the State Of aornia
not to exceed the Of three millions nine hundred
thousand dollars, bearing interest the Of seven
per cent per ann from the dare of their issue pa able
at the STATE lreasurerS Office the FIST day OF July
one thousand eight hundred and seventy the in
terest accruirg said bonds shall be due PAYABLE
at the office Of the Treasurer OF state the first day Of
January and Of July Of each year. Procidcd That the
first payment Of interest shall be made before tie
hrst day Of January one thousand eight hundred and
fifty nne Said bonds shall be signed by the Governor
and c0unersgned by the Controller and endorsed by
the Treasurer of State and shah seal of the
State affixed thereto
See Coupons for the interest shall be attached 10
each bond shat they may be removed without injury
or mutlatou 10 the bond Said coupons cousecutiyelv
numbered shall be signed by the Treasurer OF state
See. 3 It shah be the duty Of the Treasurer and
Controller Of Safe each keep a separate record of
all such bonds may be issued showing the number
date and amount of each bond. and whom the
Wa issued, and upon what claim, ard its amounts and
none OF the claims herein speciicd shall be qudaed
paid but IN the manner herein provided
Sec The sum of one thou and nelrs is hereby APP
proprated ont Of any money the Treasury not other
wise appropriated pay the expense that may be in
CURED 10y the Treasurer III having said bonds prepared
but the Controller shall his warrant On the
Treasury for this amount until there is money therein
paw the
See. All persons having any of the claims against
ter specified shall upon the presentation OF the
the Treasurer Of Safe receive in exchange therefor
bond or bonds OF The state of California provided in
the first section Of this Act but no bond shah be issued
for less than five hundred dollars, for fraction
al parts of hundred dollars. but Treasurer
certificates Of such fractional parts bonded.
which said certificates shall be aud entitled
10 be funded a before provided The Treasurer shall
endorse back each claim received and of1i-
dated die date which he received the same. and
RON whom and the number of the bond issued in
g auge therefor and such claim shall be fled in the OF
flee Of the Secretary of State.
sec G For the payment within twenty years of the
principal and interest of the bonds issued under this
there shah be levied annually, until the bonds are aid
anu promptly collected IN the same manner As IS or may
be provided by law for ordinary State taxes tax If
thirty each hundred dollars the assessed
F1ur 81 rel ana personal property m the state, and
the fund derived from this shall be apart APP
piled exclusively to the payment of the interest the
bonds herein provided and the final redemption Of the
principal Of said bonds and the faith Of the Staof
orna Is hereby pledged for the herein pro
videa of the bonds issued bv virtue of this ct and he
interest thereon. and all that be received
by the State Of California from the United
erumeut account Of the Civil Funi called are here
by rrevocaby pledged TO the payment Of the principal
and interest the bonds issued ulder this Act \ viii
ul refusal neglect by Supervisors any other Off or
to levy collect the imposed by this Act shall be
mi,deneanor aad the person or persons convicted
thereof shall he removed from office ami punished by
hne not exceeding thousand dollars by imPrson
ment in the county Jail exceeding months or bv
/ both such fine and Imprisonment.
Sec. Z Whenever on the first day Of January or July
in any wear there remains after The payment If the in
forest lercinhcf0re provided, surplus Of ten thau,-
AID dollars more it shaI be the duty Of the Urea rcr
to adyersefoJ the space of one week in daily
paper Published in English, in the city New York
aud for one month n one daily news pubihed in
English the Capital for sealed proposals to be
opened one month after the expiration of such pubra
ons oN the treasurer IN presence OF the Governor OF
Controller NJ the State Capital. for the surrender
bonds issued under THE Act which adyertisen' shall
state the amount of he has hand for plr-
pos;s not exceeding par alive As may redeem
the greatest amount of bonds until the mount Of ash on
IN 20 l. q IAN Z. tra--r "a
ease sufficient amount of such bonds shall not b. offer
ell aiore aid to exhaust the sinking find to a less
amount than ten thousand dollars. then it is hereby
male the duty OF the treasurer 10 advertise in two
uevsl ayerS in New York and at the apital OF
stare the anonni IN the sinking fund add the number OF
bonds. numbering them III the 81 their issuance
vhc such fund is set apart u pay and discharge aad
slch bonds s." numbered III 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 discharge
such bonds whenever presented but thcy shall draw
( interest after such publication as last afore aid
sec 2 Tn. Vr.a.1lr, IF state shall ken ful and
particular account and record all his preceding M
der this Act, and of the bonds redeemed and surrender
ed and he shall transmit to the Governor abstract
all his proceedings unier this Act, with his annual
port to be by the Governor laid before the Legislature.
and all books and papers pertaining 10 the pro
viied for in This Act shall al times be open the
pecon OF any party Interested or the Governor the
Attorney General committee Of either branch of the
/ Legislature. or a joint committee of both.
Sec Q. II shall be the duty of the Treasurer 10 paw
the interest said bonds when the falls due out
of said interest fund if sufficient AMI if said fund not
sufficient then to paw the deficiency nf the General
Fund Proriis that the Controller state shall first
draw his the Treas payable the
der Of said Treasurer for the amount OF interest money
about become due, which said interest warrant shall
b. drawn al least one month previous to the maturing
| of the interest
TO- Il shall be the duty of the Governor and m
roI'r to attend at least once in each month, at the
Trcl office while said bonds being issued to
examine all claims received by the Urea as afre-
said and cause the same to be registered aud cancelled
IN such manner as to prevent them from being ressued
/ or put in circulation.
Sec. IL The following are specified as the claims
which entitled to be received and funded under this
Act: First Civil bonds of the State issued under the
funding Acts passed in the years 1851, l5j2 1888 l55
and 1886, which outstanding, with interest due
GA the same vheu presented appears BY the coupons
Second, Controllers warrants drawn uuder sanction OF
law. for civil expenses prior to January first \ 1871
and now out-tan ling and unpaid, but the provisions Of
this Act shall not authorize the funding any Of those
warrants, the registration and endorsement of which
were cancelled or req red TO be cancelled by the pro
visions Of An Act to cancel the regis ration aud in
dorseinent Of certain warrants, and prohibiting the paw
of the same" approved January 3gih 4 d I556
gal by any Court. and all said warrants specified the
last mentioned Act are hereby expressly excluded from
or lega claims against the State accrued prior Tanua
ry l 1891 and which may be allowed and audited by
Act Of the Legislature And if the Treasurer of state
shall wfuIly issue bonds upon claims not herein spec
fed as receivable it shall be deemed nsdemeanor and
he shall be punished provided in lection of This Ar+
ant such bond shall be void
Sec II. The claims specified in this Act NAV be re-
ceivcd for funding. and bonds therefor NAV be issued
prior the first day of January 1853, but not after
wards and all claims presented for funding prior to
that time, excluded from the provisions this Act
and such blank bonds prepared under the provisions of
this Act. shall then remain hand shall be DESTROYED
in the presence of the Governor Controller and Treas
urrr
Sec IL This Act shall take effect the first lav of
November \ u. 1871 to all its provisions, except
those relating to- and necessary for is submission the
people and for returning cauNassing aud prcclamiug
the voteS-which shall take effect Immediately.
Sec. Il. This Act shall be submitted 10 the people of
the State for their ratification at the general cleo
ton, To be holden the first Wednesday September
a d 1857 and the qualified electors Of this State shall
said election, ther ballots for State officers vote
for or against this Act those voting the same. shall
write or have printed their ballots. words Paw
he Debt and those voting against the sane. shall
write or have printed on their ballots the words epu-
date the Debt
Sec l5 Ihcvotes cast for and against this Act shall
be counted returned and canyassed and declared in
the manner and sui ject the les votes
for the Treasurer Of State fit appear that
aoressid in favor of this Act then The shall
pcalabe until the principal nd interest oftbc liabilities
herein created shall be paid and discharged, and the
Governor shall make proclamation thereof; hut if
majority OF the votes cast against this Act then
the same shall become void.
To- II shall tie the duty of the Secretary ofStatc
have this Act publ he'd in newspaper in each Ju
dical Dstrc; of this State if be published therein
70 three months next preceding the general election to