Oroville daily Butte record., 1857-07-25
LEGAL NOTICES.
[BY AUTHORITY.l
ote on the State Debt.
OFFICE or SECRETARY OF STATE.
Sncrn me nfn rakfnrnia Mnr 9H 1897

State of the State Of California, do hereby GER
tiy that the annexed is true and correct copy OF
the original Act now on file in my Office.
Witness my hand, and the great seal of State, at
OF in SACRAMENTO California the twenty sixth day
of May, A. d. 1857. DAVID F. DOUGLAS.
LsEAL.l Secretary Of State.
CHAPTER CCXLIV.
An Act 70 provide for Paying certain Equit-
able Claims against the State Of Califor-
MIA, and to contract Funded Debt for
that purpose
The Peop'e Of the State Of California, represented in
Ssaate and assembly. do enact as toilows:
SECTION For the purpose Of liquidating. fund
in z and paying the claims against the state of Cali.
orna. 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 anlum from the date
of their issue, payable at the State Treasuers office,
on the first day Of July, one thousand eight hundred
and serenity yseyen: the interest accrun2 on said
bonds shall be due and payable at the Office of the
Treasurer of Slate the first day of January and of
July of each year: PrOUided That the first payment
ofintprest shall not be made before the first dCy of
ia uary, one Thousand eight hundred and fifty nine.
Said bonds chall he signed by the Governor and
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 attached
to each bond. so that they may be removed without
injury mutilaon to the bond said coupons con-
secutivey numbered shall be signed by the Treas
urer Of state.
SEC. 3. 1t shall be the duty Of the Treasurer and
Comptroller OF State each 10 keep separate record
of all sIch bonds as may be issued. showing The
number. date and amount Of each bond and to
whom the same was issued. and upon what claim,
and its amount: and none of the cians herein spe
Gifted shall be liquidated paid but in the manner
herein provided.
Sec. !. The sum of one thousand dollars Is hereby
appropriated out of any money in the Treasury not
otherwise appropriated 10 pay the expense that may
be incurred by the Treasurer In having said bonds
prepared. but the Comptroller shall not draw his
warrant on the Treasury for this amount until there
is money therein TO pay the same.
Sec. g. All persons having any Of the claims against
the State of California. entitled TO be funded here
inarer specified shall, upon the presentation of the
same to the Treasurer of the STATE, receive in eX>
change therefor bond or bonds Of the State of
California, provided for in the fret session Of this
Act but no bond shall be ISSUED for less sum Than
FIVE hundred dollars for fractional parts of a
hundred dollars, but the Treasurer may issue GER
tiicatcs OF such fractional parts not bonded, which
said certfctts shall be transferable aud entitled 70
be funded as before provided The Treasurer shall
endorse, on the hack of each claim SO received and
liquidaed. the date on which he received the same.
and from whom, and the number Of the bond issued
in exchange thereto, AID such claim shall oe 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
are paid. ana promptly ctlecleu IN th6 same manner
as is or may be provided by law for ordinary State
taxes, tax of thirty cents on each one hundred dol
lars of the assessed value Ci real and personal pro-
pertv In the State. and the fund derived from this
tax shall be set apart an1 applied exclusively to the
payment OF the interest on the bonds herein proVld
cd md the final redemption Of the principal of said
/ bonds, and the faith of the state of California ia
hereby pledged for the payment as herein provided
of the bonds issued by virtue Of this Act, and the in
tefest thereon and all moneys that may be received
| by the State of California from the United States
Government on account of the Civil Fund. go called.
are hereby rrevocably pledged TO the payment Of
the principal and interest on the bonds issued under
this Act wlful refusal or neglect by Supervisors
or any oiher officer to levy collect the tax imposed
by this Act, shall be a msdemeanor, and the person
or persons convicted thereof shall be removed from
office and punished by fine not exceeding one thou
sand dollars, or by imprisonment in The county jail
not exceeding six months, or by both such fine and
imprisonment.
! Sec. Z Whenever, on the first day Of Jenuary or
July in any year, there remains, after the payment OF
the interest as hereinafter provided surplus of ten
thousand dollars ore, II shall be the duly Of the
Treasurer advertise for the space Of one week in
one daily paper published in English, ia the city of
Kew York, and for one month in one daily newspa
per published in English at the State Capital for
sealed proposals. to be opened one month alier The
expiration Of such publications by the Treasurer, in
presence of The Governor or 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 owesJ proposals. ut rates
not exceeding par value may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted; pTooided ho,gerer in
case sufficient amount oi such bonds shall not be
offered, rs aforesaid, to exhaust the sinking fund to
less amount than Ten thousand dollars, then it is |
hereby made the duty OF the Treasurer to advertise
in two news papers. one in New York and ore at the
CAPITAL of the State, for hree months which adyer-
tisements shall state the amount in the sinking fund
and the number of bonds numbering them in the
order of their issuance, which such fund IS set apart
to pay and discharge and if sdch bonds, 50 num-
bered in such advertiser ents, shall not be presented
for payment and cancellation within three months
from the expiration OF such publication, then such
fGnd shall remain in the Treasury to discharge such
bonds whenever presenteG--but they shall draw no
interest after such publication as last aforesaid.
Sec. 8. The Treasurer oil State shall keep fun and
particular and record of all his proceedings
under this Act and of the bonds redeemed and sur
rendered. md he shall transmit to the Governor an
abstract of all his proceedings uuuer this Act, with
his annual report, to be by the Governor laid before
the Legislature and all books and papers pertain
ing TO the matters provided for in this Act shall ut all
times be open to the inspection OF any patty interest
ed or the Governor, the Attorney General or a
committee Of either branch of the Legislature, or
Joint committee of both.
Sec g. II shall be the duty of the Treasurer to pay
the interest ON said bonds when the same falls due.
ont OF said interest fnd II sufficient and il said fund
be not sufficient, then 10 pay the deficiency out OF
the General Fund: pr0rided. that the Comptroller Of
State shall first draw his warrant the Treasurer,
PAYABLE to the order of said Treasurer for the amou:
of interest money about to become due, which said
interest warrant shall be drawn at least one month
previous TO the maturing of the interest.
Sec. TO- Il shall be The duty of the Governor and
Comptroller to attend, at least once In each month
at the Treasurers Office, while said bonds are being
issued, TO examine all claims received by the Trea-
surer aforesaid aud cause the same To be regis
tered and cancelled in such manner as 10 prevent
them from being re-issued or put In circulation.
See. II The following are specified as the claims