San Andreas independent., 1857-03-28
AN ACT

To amed entitled Gan Act to fund the debt of the
County of Calaveras and provide for the payment
of" Approved May Sd, 1882.
The People Of the State Of California; represented
IN Senate and assembly, do enact as .foitors:
Section l. The seventh section Of an act en-
titled " An Act to fund the debt of the county OF
Calaveras, and provide for the payment thereof
Approved May Sd, 1852, is hereby amended so
rs to read as follows: Section 7. In addition to
the ordinary taxes for general county purposes,
there shall this year, and annually thereafter,
until the principal and interest of the said bonds
to be issued shall be fully provided for, by pay
ment or otherwise, as hereinafter provided, be
levied and collected in the same manner with
the ordinary revenues Of the said county, and
by the same officers. IA special tax to be
called the Interest Tax of not less than fifteen
cents, nor more than thirty cents on each one
hundred dollars of taxable property, which tax
shall be collected and paid over into the county
treasury, in the legal currency Of the State of
California Tor in gold dust at sixteen dollars an
ounce.) The fund derived from this tax shall
be applied only to the payment of the interest
to accrue upon the bonds herein provided for.
Prorided, however, that should said fund fur
nish a surplus over and above what may be re-
quired for the payment of said interest, such
surplus shall be turned over, and paid into the
sinking fund herein provided for.
SEC. 2. The ninth section of an Act entitled
can Act to fund the debt of the county of Cal
averas, and provide for the payment thereof
Approved may Sd, 1852, is hereby amended, so
as to read as follows: Section 8. 1t shall be the
duty of said Treasurer to set apart a fund, to be
called the Sinking Fund of the county Of Gala
veras. Into this fund shall be paid: First, any
and all surplus of the interest fund as aforesaid;
hot in, fbo
Treasury of the said county Of Calaveras on
the first day of August, one thousand eight
hundred and ffty-two, and on the first day of
May, every year thereafter, after paying the or
binary yearly expenses of the county, each of
such payments to be continued until the said
Sinking Fund shall be sufficient for the pay
ment of the principal and interest of the bonds
aforesaid and the same shall be paid and liqui-
dated, the payment shall cease, and all surplus
remaining in said Sinking Fund, shall be paid
into the Common Treasury of said county
Whenever at any time there shall be in the
Sinking Fund a sum of money, amounting to
five hundred dollars or upwards, the County
Treasurer shall advertise in apublc newspaper
published in said county, for the space of two
weeks, for sealed proposals for the redemption
OF said bonds after the expiration of the time
of publication, the Treasurer shall open the
scaled proposals in presence of the County Re-
corder, and shall pay and liquidate said bonds
presented at the lowest value at which they
may be proposed to be liqudated. ProUtded,
the same shall not be for more than their par
value and Procided, whenever there may be
sufficient in the Sinking Fund for the extnguish-
ment of the debt of said county, it shall be the
duty of the said Treasurer to advertise in some
newspaper, published in the county, for the
space of four weeks, for the redemption of the
outstanding bonds of said county, as hereinbe-
fore provided, after which time the said bonds
shall cease to bear interest.
Approved March 10th, 1857.