Butte record. (Bidwell, Butte County, Cal.) 1853-1858, 1857-06-20
EGAL NOTICES.
10y AUTHORITY.l
ote on the State Debt.

payID F. DOUGLASS. SECRETARY OF
] q State of the State If California 90 hereby
tiy that the annexed is a and correct copy Of
the original Act now file in my office.
Witness my hand, and the great seal of State, at
OF ce in Sacramento, California. the twenty sixth day
of May, A. D. 1857. DAVID F. DOUGLAS.
(sEALl Secretary Of State.
CHAPTER CCXLIv.
An Act to provide for Payi, certain Equit-
able Claims against the State of Califor-
MIA and to contract Funded Debt for
that purpose
The People of the STATE Of California, represented in
S,nrte and assembly. do enact as toHows:
sEcrIosI For the purpose Of liquidating, fund
ing, ard paying the claims against the Stale of rali
fornia, hereinafter sps ciied The Treasurer of State
hall cause TO be prepared suitable bonds OF the Sinte
of California not to exceed the sum of three ions
nine hundred thousand dollars bearing interest at
the rate Of per per from the naie
OF their issue. payable at the State rreasrers Office
on the fr day Of July. one thousand eight hundred
and se enty- seven The interest accruin2 on s,id
bonds shall be due and payable at The office of the
Treasurer Of Slate the first day OF January and Of
Jnly of each Proridcd That The first pay ment
Of int. shall not be made before the first dLy Of
la uary. ne tho Isand eight hundred ana fifty nine.
Said bonds shall be signed 10y the G'vernor- and
countersigned by the Comptroller, and endorsed by
the Secretary of State and shall have the seal Of the
State alike thereto
to each bond 50 that thew may be removed without
injury or mutilatinn to tn bond. Said coupons. con
secuiively numbered shall be signed by the Treas
urer of state
Sec 8. 1t shall be the duly of the Treasurer and
Comptroller oil State each TO keep separate record
Il all such bonds may be issued, showing the
number date and amount of each bond, and to
whom he same issued and upon what claim,
and its amount: and none Of the cairns herein spe
CITED shall be liquldated paid bui in the manner
herein provided.
If A. l.. bar Inv
appropriated out of any money in the Treasur, not
otherwise appropriated TO pay the expense that may
be incurred by ne Treasurer in having said 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 10 be funded here
nafier specified SHALL upon The presentation If the
same to the Treasurer OF the State, receive in ex>
change therefor bond or bonds OF the State of
California provided for In The first ses n Of this
Act; hut no bond shall be ssu, for less sum than
ive hundred dollars. nor for fractional parts of
hu ndred dollars, but the Treasurer may issue Ger
ihcaes ~ such fractional parts not bonded. which
said certic shall be transferable and entitled to
be funded as before provided The Treasurer shall
endorse on the back Of each claim received and
hquidaed. the date on winch ne received TIE same
AMI from whom. and the number The bond issued
in ex change therefor aid such claim shall De ned III
the office of the Secretary of state.
Sec Il. For The payment within twenty years of the
principal AMI interest of the bonds issued unher ms
Act iitft su;ii ne DohN7
are paid, and promptly collected iii the sam manner
az Is may be provided by law for ordinary State
taxes tax Of thirty cents each one hundred dol
lars OF the assessed value 81 real and prsonhi pro
pert, in The State. and the fund derived from this
tax shall be set apart AMI applied exclusively TO the
payment of the interest on the bonds herein provid
ed. and the final redemption OF the principal of said
bonds and the faith of the State of Cafor IA l.
hereby pledged for the payment as herein provided
of the bonds issued by virtue of this Act, and the in
trresi thereon and all moneys that may he rec lived
by the Stale of California tom the United States
Government account OF the Civil Fund. so called.
are hereby irrevocably pledged 10 the payment of
the principal and interest on the bonds issued under
this Act A wfuI refusal or neglect by Supervisors
or any other officer Ivy collect the tax imposed
by this Act, shall be mi-demeanor, and the person
ur persons convicted thereof shall be removed from
office and punished by fine not exceeding one thou
sand dollars. or by imprisonment in the county Jail
not exceeding six months, or by both such fine and
imprsonm nj.
Sect Whenever, on the first day of Jsnuary or
July in any year, there remains after the payment oil
the interest hereinafter provided. surplus OF ten
thousand d.iiars or ore, t shall be the uy of the
Treasurer 10 advertise for the space Of week in
one daily paper published in English, in the city Of
New York. and for month in one daily newspa
per published in Engish at the state Capital for
sealed proposals. to be- opened one month after the
expiration of such publications by the Treasurer in
prpsencc Of The Governor Comp roller. at the state
Capital for the surrender of bonds issued under this
Act which advertise ment shall state the amount of
money he has hand for the purpose OF redemption,
and they shall uccept the loves proposals, ut rates
not exceeding par value may redeem The greatest
amount OF bonds until the amour OF cash on hand
for redemption is exhausted; Jrerided ho,recer in
case a sufficient amount at such bonds shall not be
offered, aforesaid to exhaust the sinking fund to
less amount than ten thousand dollars. then IL is
hereby made the duty OF the Treasurer 20 advertise
in two new spapers one In New York and une at the
Capital of the state, for ;hree months, which adver
tisements shall state the cunt IN the sinking fund
and the number of bonds numbering them in IN, |
their VIII CHI such
TO pay and discharge; and il sdch bonds ST. mum
b,red in such advertiser eDs. shalt 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
bouds whenever presentcd-bui they shall draw no
interest after such publication h last aforesaid.
Sec. g. The Treasurer State shall keep full and
particular account and record OF all his proceedings
under this Act, and of the bonds redeemed aud
rendered, md he shall transmit to the Governor All
abstract Of all his pro ceilings uuer this Act, with
his annual report. be 10y the Governor laid before
the Legislature and all hooks and papers pertain
ing to The provided for in this act. shall ut all
ii es be open The inspection of any pa ~ interest
ed. The Governor, or the Attorney General, or
committee of either branch OF the Leg stature, or a
Joint committee OF both.
Sec g. 1t shall be the duty of the Treasurer IT, pay
the interest -ad bonns when the same I lis due
oul of said interest fund.- 1t sufficient and if said fund
he net sufficient then to pay the deficiency out OF
the General Fund propided that the Comptroller Of
State shall first draw his warrant on the Treasur-r.
payable the order of said Treasurer for the amou-i
OF interest money about to become Jue, which said
interest warrant shall be drawn least one month
previous TO The maturing Of the interest.
Sec TO- II shall be The duty Of the Governor and
Comptroller attend, at ie st once in each month
At tn. Treusurer's Office while said bonds are being
issued, to examine all claims received by the TreI-
siirer as aforesaid. and the Ia be regis
tered and cancelled in such manner as To prevent
them from being re-issued or put la circulation.
Sec. II The following specified as The claims
which are entitled TO be received and funded under
Ibis Act: First Civil bonds of the State issued under
the funding Acts passed in the years 1851, 1852 1883
1855 and 1856, which nov outstanding with in
terest due on the same when presented. as appears
by the coupons. Second, Comptrolers warrants
drawn under the sanction of law, Tor civil expenses
prior TO january LIST, A. D. ls57 and outstanding
unpaid, but the provisions of this Act shall not
authorize the funding at Of those warrants the
gi.Iration and end ,rsement of which were caDce1
by the prov sons of IAN Act To- cancel the regsira
and endorsement Of certain warrants and prohibit
ing he payment OF the same.r approved January Both
\. 1856. warrants which have been specifically
adjudged illegal by any Court, and said warrants
-pecif ID in The last mentioned Act. are hereby ex
pressly excluded from all The benefits and pr visions
of this ,ct Third Jusr or legal claims against the
stale ccrued prior To January lst 1857. and which
may be allowed and audited by Act of the Legislature.
And if thu Treasurer OF State shall wi.fuliy issue
bonds npon claims not herein specified receivable
il shall be deemed n misdemeanor q, shall be pun
ished MS provided in section oiths Act, and such
bond shall be void.
Sec. L. The claims specified in this Act may he re-
ceved for funding and bonds therefor may be issued
PRIOR Ia the first day Of January. 1889 but not after
wards ana all claims not presented for funding pr
that time. excluded fiom the provisions Of
this Act. and such blank bonds prepared under the
provisions Of this Act, shall then imam h-nd
shall he destroyer in the paesence of the Governor,
omp'r lIer and Treasurer.
Sec H. This Act shall lake effect the frsi day Of
November. A. d. 1857. y, all its provisions. except
those relating and necessary for. its submission to
The peupe and Tor returning. canvassins and pro-
claiming tie votes--which shall take effect immedi-
aieiy.
Sec II This ACT shall be submitted to the people Of
the State for their ratification, at the general