Oroville daily Butte record., 1857-06-16

r
State Of the State Of California 10 hereby Ger
ty that the annexed is true and correct copy of
the original Act now on file in my Office
Witness IN! hand, and the great seal of State. at
of ce in Sacramento, California. the twenty sixth day
of May, A. d. 1857. DAVID F. DOUGLAS.
lsEAL.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 PsoIIs Of TIE STATE of California y,nresenied an
Smut and .4ssrHbIy do enact Is foHors
SkcTro~l For the purpose of liquidatine, fund.
Ing, aud paying the claims against the state Of cali.
fornia. hereinafter specified. The Treasurer of STATE
shall cause 10 be pre- AIRED suitable bonds O the
Of California not ln exceed the sum of hree hliuns
nrne hundred Thousand dollars. bearing ia'ertst at
the rate OF seven per ceut per aunum from the uae
Of their issue. payable at the stale reasurers Office
on the tr day of July. one thousand eight hundred
| and sc eniN seven: the interest accrun2 on s7Id
bonds shall be- due ani pavabe NJ he office of the
Treasurer oC State the first day JANUARY and of
Jtly of each wear; PrOctded. That the fret payment
Interest sha not he made htrurp the first day of
IN uaTy. one tholsaRd eight hundred AMI fifty nine
| Said toIds shalt te signed by the Grvernor and
counIersignrd by the ComprGer, and endorsed 10y
the sec rriary Of state, ana shalhaNc the seal Of the
! State alike thereto
Sec ,. Coupons for thr inteest shall be attached
10 zach bond So that ties may be removed without
injury or mutaiiun to III bond said coupons CON
secUiiveiy numbered. shall be signed by the Treas
urer of state
Sec 8. 1t shall be- the duty df the Treasurer and
Comptroller o' State each 10 keep separae record
If all such bonds as INA! be ISSUED. sh pwlng The
number. date and amount ot each hohd, ard to
whom he same issued. and upon what clim,
and its amount; and none of The c arms herein spe
Gifted shall be liqu!dated or paid but in the manner
herein provided
sec j. The sum of one th~'sand dolla-s il hereby
n, propriaed out of any m0rF in the Treasury not
Otherwise appropriated 10 pTy the expense that may
| he incurred by ne lreasurte ia having SAID bonds
! prepared, but the tump,rd!er shall not draw his
warrant the Treasury for t1s amount until there
! is money therein to pay the stme.
Sec. All persons having pny Of tha claims Against
the state of California entitled To he funded rs here
inafer specified, shall upon The presentation al ht
same To ;ne reasurtr OF tho STATE. receive in eH>
change therefor bond or bonds 'of the state q.
California provided for in the first session III this
Act hut bond shall be ssutd for "A less sum than
live hundred dollars nor for fractional paris of
uudred dollars, bat the Treasurer may iSsu. Ger
tihcaies oi such fractional part- Slot bonded which
said cerc les shall be transicrtnr and eItiied To
! be funded before provided The Treasurer stall
endorse. on the back at each CLAIM received rad
hquidaed. the date on which he received { e sat9e.
nnd from whom. and The number ct The bond ~srnd
IN exchange thereto and such claim shall De lled III
the Office IT The Secretary OF SFr
Sec ii. For The payment lIs' twenty years otNe
principal and interest Of the bOts issued under ih's
Act there shall be lcNtG ahniiiRN. uHllI me bOt'-
are paid. and promptly collected In HE sum manner
~ il or may he provided by law frT ordinary Stale
taxes tax of thirty cents on each cue hrnhred dol
lars of the assessed value 0i real at'd personal pro
pert, N the state. and the fund derived from this
tax shall be set apart snt applied rxclu, veiy tn thn
payment of the Interest On tht bonds herIn prnvd
ed and the final redemption OF hc principal of sart
bonds aud the faih of the State OF 'Hltor m e.
hereby pledged for the payment ~ hrrcii pr"vd'-i
of the bonds issued 10y virtue uf this Act and the in
trTesl theTeon and all moneys that mnv lie rec lived
by the Steie OF California tom The u tied SIaeS
Government on account oi the Civil Funi so called
are herrhy irrevO'Hbly pledged To the payment ot
the prncnI and interest on the bonds issued under
this Act \ wilful refusal or neglect by SupervisuFs
or any tNr officer 10 .vy collect he tax imposed
by this ACT. shall be ln>demean"r and the person
persons convicted thereof shah be rrnt we'd tNan
Office and punished by fine not exceedir one ih"'i-
sand dollars. or by imprisonment IN iht county jail
not exc edino six months, or by both such fine aud
imprisonms MT.
Sec. Whenever. on the first dav of Jfnuary or
July in any yrar, there remains. after the payment of
the interest rs hrreinuiter pr0Vidr surplus OF ten
thousand dollars ore, shall be the 'iu of the
Treasurer advertise for the space of one week in
one daily paper published in English, III the city of
New York, ami tor one month III one dnily newspa-
per published in Engieh ut the state Capital for
Spaed propusas. to BE- Opened month after The
expiration OF such publications by the Treasurer, in
presence "f The Governor or comp roller at the State
CapaI for the surrender of bonds Issued under this
Act, which Advertisement shall state The amount of
money he has hand for the purpose oi REDEEM pton,
and they shall accept the loves proposals, ut rates
not exceeding value ~ may redeem the greatest
amount OF bond, until the a,noun ol cash ON hand
for redemption Is exhausted; Jr,rItcd, horerer in
case n sufficient amount oi such bunnS shall NOT be
offered aforesaid, 10 exhaust the sin t,ne fund To
less amount than ten thousand dollars, then it is
hereby made the duty o the Treasurer To advertise
in two ne papers. one in New York and ai the
Capita of the state, for hree months, which adver
tisemens shall .tnie III. an ount IN the sinking fund
and the number of bonds numbering them in the
order of their issuance. which such fund sci apart
Ia pay and discharge and If sdch bonds. so num-
ber. in such advertiser ents. shall moi be presented
fnr paympnt and cancellation within three months
FROM The expiration oi such publication. then such
fund shall remain in the Treasury to discharge such
bonds Whenever prespntrd--bui they shall draw
interest after such publication ia last aforesaid
Sec. z The Treasurer State shall keep full and
particular account and record ot a his proceedings
unde' this Act. and of the bonds retet med aud
rendered, md he shall trans >mit TO the Governor
absirai of all his pro eedings uiuer This Act with
his annual report. to be 10y the Governt laid before
the Legislature and all hooks and pa pprs pertain
ing to the nalters provided for in this Act. shall all
ii rs be- open he inspt cti"n of any p y interest,"
eel nr The Governor. the Attorney eneral. or q
committee of either ranch OF the Leg stature, or u
Joint committee OF both.
Sec Il shall be the duty 0f the Treas Irer Ia pay
he interest said bonOs when the same lls due
~ of said interest fund. II sufficient, ai il sad fund
be not sufficient. then 10 pay the deficiency out OF
the Genera Fund: proridrd that the Comptroller of
State shall first draw his warrant on the Treasur.r
payable Ia the order of said Treasurer for the amout
OF interest money about to become lue. which said
interest warrant shall he drawn at least one month
previous to The maturing of the Interest.
See TO- II shall be lbe duty OF the Governor and
COMPTROLLER to attend, AT least once In each month
Al th. Treasurer ufce while said bonds are being
issued tn examine all claims received by the Trea
and fha