The Nevada journal., 1857-05-29
Published by Authority.
A N ACT

not to exceed the sum of three millions h,
thousand dollars, bearing interest at the of seven
per cent annum from the date their issue
at the State Treasurers office on the rst day aS i
one thousand eght hundred and seventy seven the in
erest accruGg said bonds shall be due and n,y.hlo
the office of the Treasurer of State the first Il, ~
January and of July of each year. Prorided That ,h
first payment of interest shall not he made before tIe
first day of January one thousand eight hundred and
fifty Said bonds shall be signed by the C;overnor
and countersigned by the Controller and endorsed by
the Treasurer of State and shall have the seal of tho
| State affixed thereto.
Sec q Coupons for the interest shall be attached to
each bond, that they be removed without injury
or muation to the bond Said coupons, consecutiyefy
numbered, shah be signed by the Treasurer of State
! See. 3. 1t shall be the duty of the Treasurer and
Controller of State each keep separate record OF
all such bonds may be issued showing the number
date and amount of each bond and to whom the same
was ssned, and upon what claim and its amount; and
none of the claims herein specified shall be or
| paid but in the manner herein provided
Sec t. The of thousand dollars is hereby an.
prop1aed out of any money in the Treasury ohry-
wise appropriated to pay the expense may be in.
CURED W the Treasurer in having said bonds prepared
but the controller shall not draw his the
Treasury for this amount until there is money therein to
| pay the same
See 3 All persons having anv of the claims against
hc STATE OF California entitled TO be funded hercinaf
ter specified shall upon the presentation of fie same II,
the treasurer of State receive in exchange therefor
BOND or bonds of the State of California; provided ior in
the frst section of this Act but bond shall be sspe
for less sum than five hundred dollars nor for fraction
al parts OF hundred dollars but Treasurer NAV ia
sue certificates of such fractional parts NOT bondeJ
which said certificates shall be transferable and entitled
pt Is Defcre provided. The hall
ehaose on the back of each claim received and oui
dated the date on which he received the same "a
from whom and the number of the bond issued in or
change therefor and such claim shall be filed in the ~
nee of the ) eretary of State
zee D. For the payment within twenty wears Of tn.
principal and interest the bonds issued 1nder his Al
there shah be levied annually uil the bends ar, 20
ana promptly collected in the -naer ss is or ms,
thirty cents each hundred dollars of the assscd
value OF real and personal property in the State and
me Iund derived from this tax shall be apart and an
ped exclusively to the payment of the interest ON the
ponds herein provided and the final redemnon of tbo
principal of said bonds and the faith of the State of cal
norma Is hereby pledged for the payment as herein nro.
e OF me bonds issued by virtue of this Act and the
ltcIeSl thereon and all moneys that may be received
by the State of California the United States Coz
eent ON account of the Civil Fund.- called are here
ny rrevocaby pledged to the payment of the nrinc;n.,
ana interest on the bonds issued under this Act win
l refusal or neglect by Supervisors anv other ofrr
10 levy or collect the taxes imposed by this Act sb, h
i i hsdelneanor, and the person persons convicted
thereof shall be removed from office and punisbcd ~
ne not exceeding thousand dollars or bv nnr;son
ncnt III the county Jail exceeding six months or nv
both such ine and Imprisonment
See. l. Whenever the first dav of Januarv or J,,
in any year, there remains after the payment of the in
eres as hereintefore provided surplus of ten thoux
and dollars more il shal be the duty of the Treasurer
to advertise for the space of one week. in daily news
paper published in English in the city of New York
and for one month in daily newspaper published in
English at the State Capital for sealed proposals.
opened month after the expiration of such pubica
tons by the Treasurer in presence of the Governor or
Controller. Mt the State Capital for the surrender Of
bonds issued under THE Act which advertisement shall
state the Of he has for the rur
pose redemption and they shall accept the lowest c
posals, exceeding par value may redeem
the of bonds until the ON
hand for rcfcmption is cxbaustcd; 1y5rj5ed 6o,c1 ~
sufficient of such bonds shall not be offer
cd, aforesaid TO exhaust the sinking fund 10 less
amount than ten thousand dollars then It'll hefe5y
made the duty of the Treasurer advertise in tw,,
newspapers one in New York and one at the Capital
this State for three moAihs, which advertisement shai
the in the sinking fund the number OF
bonds Numbering them in the orcer Of their issuance
which such fund set apart to pay and discharge and
if such bonds numbered in such advertisements shall
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
bonds whenever presented but they shall draw no
interest after such publication as last aforesaid
See : The Treasurer Of State shall keep full and
particular account and record of all his proceedings mn
der this Act, and of the bonds redeemed and surrendel
ed and he shall transmit to the Governor abstract o!
all his proceedings under this Act, with his annual re-
port to lie by the Governor laid before the Legislature
and al books and papers pertaining to the matters
ved for in this Act, shall at all times be open the in
Spcction of any party interested, the Governor
Attorney General or committee of either branch of she
Legislature, or joint committee Of both.
Sec O. Il shall be the duty of the Treasurer to pay
the interest said bonds when the same falls due
OF said interest fund if sufficient and if said fund be 10;
sufficient, thon pay the deficiency of the General
Fund froridef that the Controller of State shall rst
draw his warrant the Treasurer payable the
der of said Treasurer for the amount of interest money
about become due. which said warrant SHAH
be drawn at least one month previous TO the maturing
of the interest
Sec TO- 1t shall be the duty of the Governor andCop
troler TO attend, at least in each month, tho
Treasurers Office while said bonds being issued to
examine all claims received by the Treasurer aforc
said and cause the 10 be registered and Cancelled
in such manner as to prevent them from being ressued
or put in circulation. ~"
See II. The following are specified as the cIaims
which entitled to be received and funded under thii
act: First Civil bonds of the State issued under the
funding Acts passed in the years 1851 1852 1853 1s55
and 1856, which outstanding with interest due
the when presented appears by the coupons
Second, Controllers warrants drawn under sanction Of
law for civil expenses prior to January first A D. 1857
and unpaid but the prOyisinus 81
this Act shall authorize the funding of any Of those
warrants the registration aud endorsement of which
cancelled reqaired to be cancelled by the pro
visions of An Act to cancel the registration and it,
Iorsement of certain warrants and prohibiting tho
ment of the same, approved January 30th, A. d. 1856
warrants which have been specifically adjudged NO.
gal by any Court and all said warrants specified in ta
last mentioned Act hereby expressly excluded from
all the benefits provisions of this Act Third Just
legal claims against the State accrued prior Janua
ry lst 1851 and which may be allowed and audited by
Act of the Legislature And if the Treasurer Of State
shall willfly issue bonds upon claims herein speci
fled receivable 1t shall he deemed msdemeanor and
he shall be punished provided in section of this Act
and such bond shall be void. ~
Sec. L. The claims specified in this Act may be re-
cevcd for funding and bonds therefor may be issue,
prior to the first day of January, 1852 but not after
wards; and all claims not presented for funding prior 10
that time are excluded from the provisions of this Act
and such blank bonds prepared under the provisions of
this Act shall then remain hand shall be destroyed
in the presence of the Governor Controller and Treas
urer.
Sec 13 This Act shall take effect on the first day of
November A. d. 1857, to all its provisions, excep:
tose reag ana necessary It's SUBMISSION to the
people, and for returning, canvassng and proclaimng
the votes--which shall take effect Immediately.
Sec a. This Act shall be submitted tothe people OF
the State for their ratification at the general cleo
ton, to holden the first "Wednesday of September
A. D. 1857 and the qualified electors of this State, shall
said election, their ballots for State otcerS
against this Act; those voting for the same, shall
write have printed on their ballots the words Pay
the Debit" and those voting against the same shall
write or have printed their ballot, the words "Repu.
diate the Debit
Sec Is Theyotas cast for and against this Act shall
be counted returned and canyasscd and declared, in
the manner and subject the rules votes
cast for the Treasurer of State and it appear that
majority of all the votes for against this Law
as Aforesaid or in favor of this Act then the shall
have effect hereinbefore provided and shall be ire
pealabe until the principal and interest the liabilities
herein created shall be paid and discharged and The
Governor shall make proclamation thereof; but if
majority of the votes cast against this Act then
the same shall become void.
Sec l6. 1t shall be The duty of the Secretary State
to have this Act pblishedin newspaper in each Ju
dclal District of this State if be published therein,
for three months next preceding the general election to
be holden upon the first Wednesday Of Septeberhext;
for which publication greater allowance shall be
made than the rates allowed by aw tothe State Printer
Approved April 2sth, 1851