Oroville daily Butte record., 1857-09-03
LEGAL NOTICES.
[BY AUTHORITY.l
Vote on the state Debt.
0FYIcE OF SECRETARY OF STATE.
Sacramento, California, May &c, 1857.


Witness my hand, and the great seal of State, at
OF in Sacramento California the twentysixth day
of May. A. D. 1857. DAVID +. 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 Peous Of the STATE of California; repreSertei in
! Senate and Assembly. do enact as JoiloicS
SECTION For the purpose of iquidating. 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 sum OF three millions
nine hundred thousand dollars, bearing Interest at
the rate of seven per cent per annlm rom the date
of their issue, payable at the State IreaNrers Office.
on the first day of July, thousand eight hundred
and Sc enty-seyen: the interest eccruin2 on said
bonds shall be due and PAYABLE n the Office Of the
Treasurer OF Slate on the first day OF JGnuNry and Of
July of each PrOriied. That the first payment
OF interest shall not be made before the irst day of
ia uary. thousand eight hundred ana fifty nine.
! Said bonds ehali be signed by the Governor. aud
countersigned by the Comptroller, and endorsed by
the Secretary OF State and shall have the seal OF the
| State affixed thereto.
| Sec 2. Coupons for the interest shall be atachoA
to each bond so that they may be removed without
injury mutlation to the bond. Said coupons. con-
| secuvely numbered. shall be signed by the Treas
urer of State.
Sec. s. It shall be the duty of the Treasurer and
Comptroller Of StHte each 60 keep a parale nd
| of all such bonds may be issued showing tho
number date and amount of each boAl, and 10
whom the same issued and upon what claim,
and its amount: and none of The Claims herein spe-
Gifted shall be liquidated or paid bul in the
herein provided.
Sec. q. The sum Of one thousand doliars ia hereby
appropriated out of any money in tho Treasury not
otherwise appropriated to pay the expense that may
be incurred by the Treasurer in having SAID bonds
prepared, bu, the Compiroller 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 oftte ci7ims against
the State Of California, entitled to he funded here
inaler specified, shall, upon the presentation Of the
same to the Treasurer of the State receive in
change therefor bond or bonds OF the State Of
California. provided for in the first session Of this
Act; but bond shall be ISSUED for less sun than
five hundred dollars nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
tihcHtes at such fractional parts not bonded, which
said certificates shall be transferable and entitled to
be funded as before provided The Treasurer sh5ll
endorse. on the back of each claim received and
liQudated. the date which he received the same
and from whom. and the number at the bond issGcd
in exchange therefn~. and such claim shall fled in
the Office of the Secretary OF state.
! Sec g. For the payment within twcntr years or the
principal and interest of the bonds isac under this
Act, there shall be levied anIEHy, rnrl the bonds
paid, and promptly collected in The sam manner
az is or may he provided by law for ordinary state
taxes tax of thirty cents ch one hundred dol
lars of the assessed value OF re and personal Dro-
pertv the state, and the fund derived frcri this
tax shall be set apart and mp Piled exclusively 70 the
payment of the interest on me bonds herein pr0yid-
ed and the final redemption Of the principal Of said
| bonds. and tho faith OF the Stnte Of C2lor IA is
hereby pledged for the payment herein provided
of the bonds issued by trtue Of this hct, md he in
terest thereon and oil moneys that NAV he received
/ by the State of California from tho United states
Government on account Of the Civil Fund. SO called
are hereby irre' ocably pledged 70 the payment Of
the principal ad interest The bonds issued under
wi ref or M tfrth
any olher officer levy collect the tax imposed
! by this Act, shall be misdemeanOr, and tie person
or persons convicted thereof shall be removed from
office ard punished by me not exceeding one thou
sand dollars, or by imprisonment in the county jail
not exceeding six months, or by both such fine and
imp' isonment.
! Sec. 7. Whenever the first dav Of Jenuary or
JpIy in any wear, there remai,s, after the payment Of
tAe interest as hereinafter provided, surplus Of
thousand dollars ore, il shall be the duty Of the
Treasurer to advertise for the space Of one week in
daily paper published in English, in the city of
New York, and for one month in one daily ncwapa-
per published in English at the state Capital. for
sealed proposals. to be opened one month after the
expiration OF such publications by The Treasurer in
presence If The Governor comp roller. at the State
Capital for the surrender of bonds issued under this
Act, which advertisement shall state the amount c4
money he has on hahd for the purpose Of redemption,
and they shall nccept the loves proposals, al rates
not exceeding par value may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted; ITui8ed, ho,rerr, in
| q
offered, as aforesaid. to exhaust the sinking fund 20
less amount than ten thOusaHd dollars, then IL is
hereby made the duty OF the Treasurer 10 advertise
in TWO newspapers, one in New York and one at the
CaDal of the state, for ;hree months, which adver
sements shall state the AfIOuE III the sinking fund
and the number of bonds numbering them in tho
order of their issuance, which such fund s set apart
TO pay and discharge; and il such bonds, so mum
hered in such advertiser ents. shall not be presented
for payment and cancellation within three months
from The expiration OF such pnhllcaon' then such
fund shall remain in he Treasury To discharge such
bonds whenever presented--bul they shall draw 10
interest after such publication us last aforesaid.
See 8. The Treasurer oi State shall keep fuli apd
nnricular account aud record OF all his proceedings
under this Aci. and of the bonds redeemed and sur
rendered, md he shall transmit to the Governor an
absiract Of all his proceedings uuucr this Act with
his annual report. be by the Governor laid before
the Legislature /; and a books and papers pertain
ing To The matters provided for in This Vet, shall "A. all
lines be open the nsp ction Of amy pm ~ interest
ed or the Governor, or the Attorney General, or
committee of either branch Of the Legislature, ora
Joint committee OF both.
Sec o. 1t shall be the duty of the Treasurer to pay
;bc iDtpreS, On said bOnds when the same Tolls due
ort OF said interest fund it sufficient and # said fund
be Mt sufficient then 10 pa! the deficiency out OF
the General Fund pr0cide8 that the Comptroller Of
State shalt first draw his warrant on the Treasur,
naynbe 10 The orer OF said Treasurer for the umou.t
of interest money about TO become Jue, which said
nterest warrant shall be drawn al least one month
nreyious 10 The maturing of the interest.
| Scc 10 IL -hnll be HE duiy Oi the Governor and
Comptroer to attend NJ least once IN each noah.
al b. Treusurer's Office while sad bonds ARE being
issued Ia examine all claims received by the Trea-
surer rs aforesaid and cause the same r. be regis
tered and cancelled in such Inanner as To prevent
then, from being re-issued or pm la circulation.
Sec. H. The following are specthed Us the claims
which are entitled To be received an1 inded under