Mariposa Democrat., 1857-08-06

prepared but the Comptroller shall not draw his war
rant on the Treasury for this amount until there is
money therein to pay The same.
SEo 3. All persons having any of the claims against
the State Of California, entitled to be funded as herein
after specified, shall upon the presentation of the
10 the Treasurer Of State receive in exchange there
for bond or bonds OF the State of California provided
for in the first section Of this Act but bond shall
be issued for less sum than five hundred dollars, nor
for fractional parts Of o hundred dollars. but the
/ Treasurer may issue certificates Of such fractional
parts not bonded which said certificates shall be trans
ferable and entitled to be funded before provided
The Treasurer shall endorse, the back of each claim
so received and liquidated the date which he re-
ceived the same, aud from whom, and the number Of
the bond issued in exchange therefor and sch claim
shall be filed in the Office OF the Secretary of State.
SEC. G. 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
paid, and promptly collected in the same manner is
or may be provided by law for ordinary State taxes,
tax of thirty cents each 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 the bonds herein provided, and the final
redemption of the principal Of said holds and the faith
of the state Of California Is hereby pledged for the
payment as herein provided Of the bonds issued by
virtue Of this Act, and the interest thereon aud all
moneys that may be received by the State Of Cafor-
mia from the United States Government on account of
the Civil Fund, 50 called, are hereby revocably
pledged to the payment Of the principal and interest
on the bonds issued under this Act. wilfu refusal
or neglect by Supervisors or any other officer to levy
or collect the tax imposed by this Act, shall be mis-
demeanor and the person or persons convicted there
Of shall be removed from Office and punished by fine
not exceeding thousand dollars or by imprison-
ment in the county ioil not exceeding six months or
] by both such fine and imprisonment
/ SEC. Z. Whenever, on the first day Of January or
July in any year there remains, after the payment Of
the interest as herenheore provided surplus of ten
thousand dollars or more IL shall be the duty Of the
/ Ia adj for the 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 ia English at the State Capital, for
sealed prop0s.s to be opened month after the eX
praon Of such publications by the Treasurer, in the
presence Of the Governor Comptroller, at the State
Capital for the surrender Of bonds issued 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 per value rs may redeem the greatest
amount Of bonds until the amount 0f cash on hand for
redemption is exhausted prorided, ho'cerer, IN case
a sufficient amount OF such bonds shall not be offered,
10 exhaust the sinking fund to less amount than ten
thousand dollars then Il hereby made the duty Of
the Treasurer 10 advertise IN two ucwspapers. n
New York and one at the Capital OF this State for
three months, which advertisements shall stale the
amount in the sinking fund, and the number OF bonds
numbering them 10 the order Of their issuance, which
such fund j. set apart TO pay and dis barge and II
such bonds 50 numbered In such advert sCmons shall
not be presented for payment and cancellation within
inltt nlnll5 IRON illt 90 NNtu
then such fund shall remain in the Treasury 20 dis
charge such bonds whenever presented they shall
draw no interest after such publication a. last aiore
said
SEC. 3. The Treasurer Of State shall keep fall and
particular account and record OF all his proceedings
under this Act. and Of the bonds redeemed and sur
rendered aud he shall transmit 10 the GOyern0ran ale
strlct Of all his proceedings under this Act with bis
annual report, to he by the Governor laid before the
Legislature and all books and papers pertaining 20
the matters provided for IN his Act shall at al times
be open to The inspection of any party Interested or
the Governor the Attorney GenFla u, a committee
Of either branch Of the legislature or joint com
mtee OF both.
SIC D. II shall Ne the duty Of the Treasurer 70 pay
the interest on said bonds when the falls due ont
Of said interest fund If sufficient aud il said fund he
not sufficient. then 10 pay the deficiency out Of the
General Fund pTOridfd, that the COMPTROLLER ol
State shall first draw his warrant on the Treasurer
payable to the order Of said Treasurer for the amount
ofintere4t money about To become due, which said
interest warrant shall be drawn at least one month
previous 10 the maturing Of the interest
SEC. 10. Il 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, TO examine all claims received hy the Treasurer
rs aforesaid ard cause the same 10 be registered and
cancelled in such manner as to prevent them from
being reissued or pat in circulation.
SIC. H.. The following are specified as the claims
which are entitled to be received and funded under
this Act First Civil bonds Of the State issued under
I
1855, and 1886, which are now outstanding, with in
teres due on the same when presented appears by
the coupons Second, Comptrolers warrants drawn
under sanction Of law, for civil expenses prior 10 Jan
uary lst. A. d. 1857, and now outstanding aud un
paid bn, the provisions Of this Act shall not authorize
the funding Of any Of those warrants the registration
and endorsement Of which were cancelled or required
ia be cancelled blythe provisions Of" An Actto cancel
the registration and endorsement OF certain warrants
and prohibiting the payment Of the same approved
January 30th, A. y. 1866, or warrants which have
been specifically adudged Illegal by any Court, and
oil said warrants specified IN the llst mentioned Act
are hereby expressly excluded from all the benefit.
and provisions Of thsA Third Just orlega claims
against the State accrued prior to January lst, 1857
and which may be allowed and audited by Act Of the
Legislature And II the Treasurer Of State shall will
fully issue bonds upon claims not herein specified as
receivable, It shall be deemed mi-demeanor, and he
shall be punished provided in section Of this Act
and such bond shall he void.
SEC. H. The claims specified in this Ac may he
ceived for funding, and bonds therefor may be issued
prior TO the first day OF January 1889 but not after
wards and all claims not presented for funding nor
10 that time excluded from the provsionsof this
Act, and such blank bonds prepared under the proys
ions Of this Act, shall then remain on hand shall be
destroyed in the presence Of the Governor Comptroller
and Treasurer.
src. 49, This Act shall take effect on the first day
of November A. D. 1857, as to al is provisions, ex-
ccnt those relating TO- and necessary for, its subms
sion 10 the people, and for returning, canyassing and
4
me1iately.
! SEC. II. This Act shall be submitted 10 the people
Of the State for their ratification at the next general
election TO be holden on the first Wednesday Of Sep
temher A. d. 1851 and the qualified electors Of this
State shalt at said election their ballots for State
officers vote for against this Act those voting for
the same shall write have printed their ballots,
the words " Pay the Debt :" and those voting against
the same shall write or have printed their ballots
/ the words " Repudiate the Debt
SIC. Is. The votes cast for and against this Act,
shall be counted, retunedand canvassed, and declted
in the manner and subject to the rules as
votes cast for the Treasurer OF State and If ii
that majority Of all the votes cast for against
this law as aforesaid in favor Of this Act then the
same shall have effect as hereinbeiOre provided and
shall be nepeaable until the principal and interest Of
the liabilities herein created shall be paid and dis
charged, and the Governor shall make proclamation
thereof but if a majority Of the votes 50 cast are
against this Act, then the same shall become void.
/ SEC. l6. 1t shall be the duty Of the Secretary Of
State TO have this Act published in newspaper in
each Judicial District ofthis 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 greater allow