Oroville daily Butte record., 1857-08-05
LEGAL NOTICES.
[BY AUTHORITY.l
Vote on the State Debt.
OVvicR OF SECRETARY OF STATE.

u State of the State Of California do hereby GER
tiy that the annexed is a true and correct copy Of
the original Act now on file in my Office
Witness my hand, and the great seal Of State, al
of ce in Sacramento, California the twenty day
of May, A. D. 1887. DAVID F. DOUGLAS.
| [sEAL.l Secretary of State.
CHAPTER CCXLIV.
An Act to provide for Paying 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
Senate and Assembly. do enact as foLious:
SECTION / For the purpose of liquidatng. fund
ing and paying the claims against the state of Cali
fornia hereinafter specified, the Treasurer of State
shall cause TO be prepared suitable bonds Of the State
of California. not to exceed the of three millions
nine hundred thousand dollars, bearing interest at
the rate of seven per cent. per annum from the date
of their issue, payable at the State reasurers Office,
the first day of July, one thousand eight hundred
and seventy-seven: the interest accrun2 on said
bonds shall be due and payable at the Office Of the
Treasurer of State the first day of January and Of
July Of each year: PrOrided, That the first payment
of interest shall not be made before the first day of
Ja~ uary thousand eight hundred and fifty nine
Said bonds shall be signed 10y the Governor, and
countersigned by the Comptroller and endorsed by
the Secretary of State and shall have the seal Of the
State affixed thereto.
Sec. q Coupons for the interest shall be attached
to each bond, that they may be removed without
injury or mutilation to the bond. Said coupons.
secutively numbered. shall be signed by the Treas
urer of State.
Sec. s. 1t shall be The duty of the Treasurer and
Comptroller OF State each TO keep separate record
of all such bonds as may be issued, showing the
number date and amount of each bond, and to
whom the same wis issued. and upon what claim,
and its amount: and none of the claims herein spe-
Gifted shall be liquidaed or paid but in the manner
herein provided.
Sec. a. The sum of one thousand dollars ia hereby
appropriated out OF any money in the Treasury not
otherwise appropriated TO pay the expense that may
be incurred by the Treasurer in having said bonds
prepared, but the Comptroller shall not draw his
warrant the Treasury for this amount until there
is money therein to pay the same.
Sec. B. All persons having any of the claims against
the State of California. entitled TO be funded as here
inafer specified, shall, upon the presentation of the
same to the Treasurer of the Slate. receive in eX>
change therefor bond or bonds of the state of
California provided for in the first session of this
Act but no bond shall be issutd for a less sum than
! five hundred dollars, nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
| tihcaies OF such fractional parts not bonded which
said certificates shall be transferable aud entitled to
| be funded before provided. The Treasurer shall
endorse on the back Of each claim 80 received and
lquidated. the date on which he received the same
and from whom. and the number Ct the bond issued
in exchange theTefo-. aud such claim shall pe filed in
the Office Of the Secretary OF state.
Sec 6. For the payment within twenty years of the
{
Act, there shall be levied annually, until the bonds
are paid, and promptly collected in the sam manner
NJ is or may be provided by law for ordinary State
taxes, tax of thirty cents ON each one hundred dol
lars of the assessed value Of real and personal pro-
perIv in the state, and the fund derived from this
lax shall be set apart AMI applied exclusively to the
! payment of the interest on the bonds herein provd
ed. and the final redemption Of the principal Of said
bonds. and the faith of the State of Caor IA ia
hereby pledged for the payment as herein provided
Of the bonds issued by virtue Oft this Act, aud the in
terest thereon and all moneys that may be received
! by the State of California from The United states
Government on 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 wilful refusal neglect by Supervisors
or any other officer 10 levy collect the tax imposed
by this Act, shall be misdemeanor. ard the person
or 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 fne and
| imprisonment
| sec. z Whenever. on the first day of Jsnuary or
July in any year, there remains after the payment OF
the interest hereinafter provided, surplus of ten
thousand dollars ore, 4 shall be the duty of the
Treasurer 20 advertise for The space of week in
one daily peper published in English, Ia the city of
New York, and for one month IN one daily newspa-
| per published in English at the state Capital, for
sealed proposals. to be opened one month after the
ex praon of such publications by the Treasurer in
presence of the Governor or Comptroller, at the state
Capital for the surrender of bonds Issued under this
/
money he has on hand fOrihe purpose of redemption,
and they shall accept the loves proposals, at rates
not exceeding par value as may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted yTgpided, AotecUer, in
case n sufficient amount OF such bonds shall not be
offered, rs aforesaid TO exhaust the sinking fund TO
less amount than ten thousand dollars, then il is
hereby made the duty O the Treasurer to advertise
in two newspapers one in New York and at the
Capital of the state, for hree months. which adver
tisemens shah state the amount in the sinking fund
and the number of bonds numbering them in tho
order of their issuance, which such fund set apart
10 pay and discharge; and il sdch bonds, 80 num-
bered in such advertiser enls. shall not be presented
for payment and cancellation within three months
frun The expiration OF such publication, then such
find shall remain in the Treasury TO discharge such
bonds whenever presented-but they shall draw no
interest after such publication last aforesaid.
sec. &. The Treasurer state shall keep full and
particular account and record OF all his proceedings
under this Act, and of the bonds redeemed aud sur
rendered tnd he shall transmit to the Governor an
abstract Of all his proceedings uider this Act. with
his annual report, to he by the Governor laid before
the Legislature and all hooks and papers perlan-
ing 10 The matters provided for in this Act. shall at all
,nes be Open to the inspection of any pa ~ interest
ed or the Governor. the Attorney General, or
committee of either branch OF the Leg stature, a
iOin CcmraIttee of both.
Sec O. 1t shall be the duty Of the Treasurer to pay
hr interest on said bonds when the same falls due
ort o said iutores alnd il sufficient. and ii said fund
he not sn.Gtent. than 10 pay the deficiency out OF
t6e General Fund 9r0cidd that the Comptroller OF
stat. su1l sr~t draw his warrant on the Treasurer,
psyable tJ tc ordero said Treasurer for the amou2i
1f Interest money about to become due, which said
interest w8rrau. shall be drawn at least one month
previous To he Eaiunng Of he interest.
Soc tg i, thaU be Inc duty of the Governor and
Couptrolier 70 guend, 40 least once In each month
AZ tbt Tfeasufer's office while said bonds being
.sfaf i examine Ail claims received by the frea
shn In hl