Oroville daily Butte record., 1857-06-02

tiy that The annexed is true and correct copy Of
the original Act now on Gle in my office.
Wtne.. my hand, and the great seal Of state. Ht
on &c ia Sacramento, California The twenty-sx,h day
of Way, A. D. l-57. DAVID r. DOUGLAS.
/ LsEAL.I Secretary of stale.
CHAPTER CCXilV.
An Act to provide for Paying certain Equit-
able Claims against the State ot Cahtor-
MIA, and to contract Funded De5t for
that purpose.
The ProJ Of the >fate If Caiforria, represented IN
S'H 0e eHd .lssenbiy. do mart as Johows:
SECTION |. For the purpose OF liquidating. fund
ing aud paying the CLAIMS against the state uf Cali
iurnia hereinafter specified. the Treasurer OF stale
shall cause 10 be PREF AIRED suitable bonds OF The state
OF California, not "a exceed the >um of ttIrtt millions
nine hundred thousand dollars, bearing interest at
the rate Of seven pes cent per aunnm trom the GATE
OF their issue, payable the State lrtusurcrs udc.
on the fret day Of Judy. thousand eight hundred
and se ent! seven; lGe interest accrHue on said
bonds shall bc due and PAYABLE at the office of the
Treasurer of State on the ir,t day January and of
july OF each YEAR Pror,ded. That The fir, pay ynent
of interest SHAH not be made beiurr the first day of
ia uHry, one thousand eiZht hundred an f,ty nine
/ said bonds sht tr sj4u"d by The COVE crnUr. and
counters GHrd by the ttWplruer. and endorsed lN
the tc'ctary ct state, ana >hai have The seal OF the
/ state @thNci thereto
Sec. :. Coupons tor IN interest shaR be attached
! To each bond - that tlCN may be removed without
mIury or u,uuation to th bond. sand cospons, con.
>"cni'ty numbered. shall be signed by the Treas
Ur,r OF STATE
Sec. ). It shall be the dug of the Treasurer and
Comptroller OF State each to keep separate record
/ II all >lch bonts may be issued. ia wing HE
nuHber. date and amount of each bond, and To-
whom The safHe was Issued. and upon what claim,
and H. amount: and none Of ths' earns herein spe.
cited shall be liqu.dated or pad but in the manner
herein provided
sec. =. The sum Of one thousand dollars i hereby
aIpropriated ont uf any money IN the Treasury not
! otherwise itptpuriflr1 q the o. m
be Incurred by ne Treasurer IN having said bonds
prepared, but the tompr"ler shall not draw his
warrant the Treasury iur this amount until there
I Is Oury therein to pay The same
Sec. An persons having any of the claims az inst
the state o California entitled 10 be Wuded here
lnatler specified, shall, upon he presentation "t the
same to me reasurer ot The STATE, receive IN cN>
change therefor bond bonds ot the state OF
California. provided for in the tr-t session oI this
Act: but no bond shall be isSItd for less sum than
( i've hundred dollars, nor for fractional PARIS OF Il
hundred dollars, but the Treasurer may issue Ger
ihcutcs ul such fractional parts not bonded which
said ccrtfc lcs shall be transferable and entitled to
be undcd before provided The Treasurer shull
endorse, ou the back of each claim So received and
hqUidated the date ON which he received the same.
and from whom. and The number ct HE bond issued
IN exchange therefor and such claim shall De fled IN
the office Dt The secretary of STATE
! Sec Is. For the ayment within twenty years of the
principal ANA interest o the bonds ISSUED under Ihis
Act there shall bt Levied aunuHily. until The bonds
are paid, and promptly collected IN The sam manner
H. l. or may ht nrbNlitu ny law Tor ordinary Slblt
lnNes. tax of jhirIy cents on each one hundred dot
lars of the assessed value Of real aud personal pro-
perty the state, ana the fund derived from his
tax shall be set apart ami applied exclusively 10 thG
payment OF the interest ON TIE bonds hercu proNid-
ed, and he final redemption OF HE principal of said
bonds. and Tie tjith oi the state ui Cuillor H =
hereby pledged for The payment as herein lr Nldcd
of the bonds is>u 10y virtue Of thls Ac, and the in
trre-l thereon and all moneys that ma> be received
bv the Slae of CattornlA t'om the United states
government account OF the civil Fund.- called
are bcrrhy irrctocabiy pledged to the payment OF
the principal and interest on the honds issued under
this Act wilful refusal or neglect by supervisors
or any other officer To levy collect the tax imposed
by this act shall br "A ml-denean"r' ana the person
or persons convicted thereof shall he removed from
OH e and punished by tine not exceeding one thou
sand dollars, or hy Imprisonment III lhr county lal
not exc, ediug six months. or by BON such tine nnd
/ impTi>, ma Mt
Sec.7 Whenever. on the first day Of Jfnuary or
July in any ytar there remains, after The payment of
the interest a hereinafter provided, surplus oi ten
thousand dollars ore, / ,hal he the duty of the
Treasurer To advcrtis" Tor The space oi one week ~
one duly paper published in English, ia The ely ui
New York, and for one month in one daily newspa'
per published in Engllsh nj the state Capital. for
sealed proposals. to be optu ned unr month after h-
expiration OF such publications 10y The TREASURER in
pr scncc uf the GuN crn or comp roller, at e state
Capital for tie surrender OF bonds issued under ts
/ Act which advertisement slmi stntr The amount Of
moicv hc has on band for the purpose OF redemption,
and hey shall accept the loves proposals, m rates
| net exc cdug par yaue as may redeem he greatest
I amount Of bonds until the nWuun Ol cash uH hand
/ for dtmpon is exhausted IrlrHied, h0ccra, in
case "a sUti ,ent umuUnt "i such bonds shall noi be
offered. i- uurcs1ii to exhaust the sinking und Ia
! los amount lh1n ten Thousand dollars then il is
hereby made He duty q, tne Treasurer to advertise
in Two newspapers, oue in New York and one a. the
tnuilhl uf The state, fnr hrec months which adVer-
t.c,ncnt- shall state lh" amount IA the sinking fund
and the uumhcr ct bonds numbering them ia tho
order of their issuance, VII ch slch fund set apHrt
to nay and discharge: ana It such bonds, 50 num-
brr,d ia such advertiser ens. shall not be presented
for payment and cancellation within three months
from, the expiration ut such pdnlicaOU, then such
r!nd shall rcmnln in the Treasury to discharge such
boud4 whenever prcscii.0--bu they shHll draw
interest after snch pdhiira ION ~ last aforesaid.
sec. p The Treas r,atr shall Srrp fan and
Hrficulr account tUu record ut an hs proceedings
uud,f this Act. uud ui uuni, redeemed aud sur
rendered. md hc shall transmit 20 the Governor an
abstract If all his pro. ceilings uuucf this Act with
his annual report. to be- hy the Governor laid before
the Leg stature and a hOoss and papers pertain
ing To The matters provided for in this act shall at all
Iines br open the inspection of any pa ~ interest
rl ar he Governor, or the Attorney General,
committee of either branch of the Leg stature, or
Joint committee OF both.
Sec O. Il shall be the duty of the Treasurer To pay
| he interest ON said bonns when the same lis due
0a of said interest," fund, it -ii -i~ni and if SAID funi
he sufficient. then 10 pa! the deficiency out OF
the General Fund DTOrided that the Comptroller Uf
State shall first draw his warrant the Treasurer,
PAYABLE Ia the order of said Treasurer for the nmont
OF interest money about to become jue. which said
interest warrant shall be drawn at least month
previous to he maturing of The interest.
Sec. ~. II shall be- lhe duly of the Governor and
COMPTROLLER Ia attend, nj le IN ench month.
a the Trctsurer'~ office, while said bonds being
issued. to examine all claims received by the lrea
surer n aforesaid aud Cause the same Ia be regis
tered and cancelled IN such manner as 10 prevent
them from being re-i>sIed or pat la circulation
- = claims