Mariposa Democrat., 1857-08-27

be incurred by the Treasurer in having said bonds
prepared bat the Comptroller shall not draw his war
rant on the Treasury for this amount until there Is
money therein to pay the same.
Snc. 8. All persons having any of the caims against
the State of California entitled TO be funded herein
after specified shall upon the presentation of the same
TO the Treasurer of State receive In exchange there
for bond bonds OF the State of California. provided
for in the first section of this Act but no bond shall
be issued for less sum than five hundred dollars nor
for fractional parts Of a hundred dollars, but the
Treasurer may issue certificates Of such fractional
parts not bonded which said certificates shall be trans
temhe and entitled to be funded before provided.
The Treasurer shall endorse, the back Of each claim
so received and lquldaed, the date which he re-
ceived the same, aud from whom, and the number Of
the bond issued in exchange therefor and such claim
shall be fled in the Office of the Secretary Of State
SEC. 6. 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 are
paid and promptly collected in the same manner is
may I've provided by law for ordinary State taxes
tax Of thirty cents each one hundred dollars OF the
assessed value of real and personal property in the
State, and the fund derived from this tax shall be set
apart and applied exclusively to the payment OF the
interest on the bonds herein provided aud the final
redemption Of the principal Of said bonds and the faith
of the State of California is hereby pledged for the
payment az herein provided of the bonds issued by
virtue Of this Act and the interest thereon and all
moneys that may be received by the State of CalfOr-
mia from the United States Government account Of
the Civil Fund, 50 called, are hereby rrevocably
pledged to the payment of the principal and interest
on the bonds issued under this Act. willfu refusal
or neglect by Supervisors any other officer 10 levy
collect the tax imposed by this Act shall be mis-
demeanOr and the person persons convicted there
of shall be removed from Office and punished by a fine
not exceeding one thousand dollars, or by imprison-
ment in the county 'il not exceeding six months, or
! by both such fine and imprisonment.
SEC l. Whenever on the drst day oi January or
July in any year. there remains. after the payment a
the interest rs hercnhcore provided surplus OF ten
a. III. faAal fa mIf la
Treasurer to advertise ior the space Of week in
one daily newspaper published In English In the city
of New York, and for one month In one daily news
paper published in English al the State Capital for
sealed proposals. to be opened one month after the
piraton Of such publications by the Treasurer IN the
presence Of the Governor Comptroller, at the Slte
Capital for the surrender Of bonds issned under this
Act, which advertisement shall state the amount Of
money he has on hand for the purpose Of redemption,
and they shall accept the lowest proposals. at rates not
exceeding par value. as may redeem the greatest
amount Of bonds until the amount o cash hand for
redemption Is exhausted prouided hoiDerer IN case
sufficient amount Of such bonds shall not be offered,
to exhaust the sinking und to less amount than ten
thousand dollars then II is hereby made the duty Of
the Treasurer 10 advertise in two newspapers, one in
/ New York and one at the Capital Of this State, for
three months, which advertisements shall state the
amount in the sinking fund.- and the number Of bonds
numbering them in the order Of their Issuance, which
such fund is set apart 10 pay and discharge and II
such bonds, numbered in such advertisements shall
not bc presented LOT payment ana fllfflAtWn Wltllh
three months from the expiration Of such publication,
then such fund shall remain in the Treasury TO dis
charge such bonds whenever pre- entedbut they shall
draw no interest after such publication as last afore
said.
Src g. 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
rendered and he shall transmit 20 the GOyeru0ran abb
stract Of all his proceedings under this Act. with his
annual report 10 be by the Governor laid before the
Legislature and all books and papers pertaining 10
the matters provided for in this Act shall at all times
he open to the inspection Of any party interested
the Governor, or the Attorney General or q committee
Of ther branch of the Legislature, or joint com
mtiee of both.
SIC o. 1t shall be the duty Of the Treasurer 10 pay
the interest said bonds when TIE falls due, out
Of said interest fund il sufficient and II said fund be
not sufficient. then 20 pay the deficiency out oi the
General Fund; Prorided, that the Comptroller Of
State shall first draw bis warrant on the Treasurer
payable 70 the order of said Treasurer for the amount
ofinterest money about to become due, which said
interest warrant shall be drawn at least month
previous 10 the maturing Of the interest
SIC. 10. II shall be the duty Of the Governor and
Comptroller to attend at least once in each month, at
the Treasurer's Office, while said bonds being Is
sued, 10 examine all claims received by the Treasurer
aforesaid ard the same 10 be registered and
cancelled in such manner as 10 prevent them from
being reissnod or put in circulation.
SEc. II. The following specified tho claims
which are entitled 20 be received and funded under
this Act First Civil bonds Of the State issued under
the funding Acts passed in the years 1851 1852, 1853
1855, and 1856, which are now outstanding, with in
tees due on the same when presented as appears by
the coupons Second, Comptrollers warrants drawn
under sanction Of law, Tor civil expenses prior IN Jan
uary lst. A. d. 1857, aud now oustandinQ and un.
paid hn the provisions of this Act shall not authorize
the funding Of any Of those warrants the registration
and endorsement Of which cancelled or required
to be cancelled the provisions Of" An Act to cancel
the registration and endorsement Of certain warrants
and prohibiting the payment of the same" approved
January 30th, A.. d. 1856, or warrants which have
been specifically adudged Illegal by any Court, and
all said warrants specified in the last mentioned Act
are hereby expressly excluded from all the benefits
and provisions Of this Act. Third Just orega claims
against the State accrue prior to January lst, 1851
and which may he allowed and audited hy Act Of the
Legislature And if the Treasurer Of State shall will
fully issue bonds upon claims not herein specified ~
receivable, it shall be deemed misdcmeanor, and he
shall be punished provided in section Of this Act
and such bond shall be void
SEC. II. The claims specified In this Act may he re-
ceved for funding and bonds therefor NAV he issued
prior to the first day of January 1859, but not after
wards and all claims not presented for funding prior
to that time are excluded from the provisions Of this
Act and such blank bonds prepared under the prnvis
ions Of this Act shall then remain on hand shall be
DESTROYED int the presence Of the Governor, Comptroller
and Treasurer.
SIC. 49, This Act shall take effect on the first day
of November. A. D. 1851 as to all it provisions eX
cept those relating TO- and necessary for its subms
sion to the people, and for returning, canvassng and
proclaming the votes-which shall take effect i'm
mediately.
SIC. Ii. This Act shall be submitted to the people
Of the State for their ratification, at the next general
election, to be holden the first Wednesday Of Sep
tember A. D. 1857, and the qualified electors Of this
State shall at said election, their ballots for State
officers vote for against this Act those voting for
the same shall write or have printed their ballots
the words Pay the Debit and those voting against
the same shall write or have printed their ballots
the words " Rcpudate the DEBIT
SIC. Is. The votes cast for and against this Act,
shall be counted, returned and canvassed and declared
in the same manner and subject to the rules as
votes cast for the Treasurer Of State, and If il appear
that majority of all the votes cast for or aiains
this law aforesaid In favor Of this Act then the
same shall have effect hereiuhefore provided and
shall be rrepeaable until the principal aud interest Of
the liabilities herein created shall lie paid and dis
charged, and the Governor shall make proclamation
thereof but if a majority Of the votes cast are
against this Act then the same shall become void.
SEC. l6. It shall be the duty of the Secretary Of
State to have this Act published in newspaper in
each Judicial District ofths State If one be published
therein, for three months next preceding the general
election TO be holden upon the first Wednesday Of Sep
tember next for which publication no greater allow
ance shall be made than the rates allowed by law TO
the State Printer.
Approved April 2sth 1857. iell 3m