Oroville daily Butte record., 1857-06-03

/ the original Act now on file in my office.
Witness my hand, and the great seal Of state, at
oi 60 ia Sacramento, California the twenty .ssih day
Of May, A. d. 1857. DAVID F. DOUGLAS,
! [sEALl Secretary Of state.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equit-
able Claims against the State Of Calitor.
mia. and to contract Funded Debt for
that purpose.
TIE PeoIte Of the State IF Caifornia represented in
S'ntte and .fssembty. do enact as toboTs:
SECTION /. For the purpose of lqudoting, fund
ing, aud paying the claims against the state ot Cali
iorn. hereinafter specified, the Treasurer OF State
shall 10 be prepared suitable bonds OF the state
Of California not Ia exceed the sum of three uions
nine hundred thousand dollars, bearing interest at
the rate of seven per cent per annum from the cate
Ot their issue. payable AT the state lreasrers Office,
on the fret day of July. one thousand eight hundred
and enty seven; the interest accrung .on said
! bonds shall be due and PAYABLE at The Once of lhe
Treasurer of State the first day o January and of
July of each year: PrOCdcd. That the first pay me't
OF interest shall not be made before the first day OF
ia uury. one holsand eight hundred AMI Hly nih-.
Said bond. shall he signed 10y the Governor. amt
countersigned 10y the Comptroller, and endorsed ~
the Secretary ct state, aud shall have the seel OF The
| State affixed thereto.
! Sec . Coupons for lhe interest shall be attached
! to each bond that they may be removed withun'
iiaury mutIlaun to the bond. SAID coupons con
iSeCulively numbered shall be signed ID! the iTcds
u.tr OF state.
Sec s. 1t shall be the duty Of the Treasurer and
| Comptroller oi State each to Keep Il separate record
! VI all such bonds may be issued, showing The
number, date and amount OF each bohd, ana 10
wt,d IN The issued, and upon what claim,
and It's amount; and none of the claims here n spe'
ci.d shalt be- iiqudated or paid but';n the manner
hercin provided.
! sec, !. The sum Of one thousand dollars il hereby
appropriated out of amy money in the treasury not
Otherwise appropriated To pay the expense INA. may
be incurred by lhe Treasurer in having said BONDS
! H.
warrunl the Treasury for this amount 'hnk there
is money therein To pay the same
Sec.E All persons having any of the catns against
the of California. entitled 10 be funded rs here
inafe< siecihed, shall, upon the presentation al the
-ame'Lo me Treasurer ot the State, receive in eN>
change therefor bond or bonds of the state of
California provided for in the first session Ot this
LAci but bond shall be iSsutd for less sum than
i've hundred dollars. nor for fractional parts of II
Indred dollars, but the Treasurer may issue Ger
iilir;ttes such fractional parts not bonded which
said certHc shall be transferable ard entitled 10
be funded as before provided The Treasurer snail
endorse, on the huck of e"dh claim received and
hquidated. the date onTnich he received the same,
and from whom and the number ct The bond ISSUED
in exchange tharef"r, aid such claim shall De filed IN
the office Jf The Secretary Of state
SEC o. For the pay lment ithln twenty years of the
principal and interest ot the bonds issued under This
Act, there shall be levied annually, until the bonds
are paid, and promptly collected III the sam manner
~ is or may he provided by law for ordinary State
taxes " tax of thirty cents ON each one huulred du
lars of the assessed value oi real and personal pro-
pertv IN the Slnte and the fund derived from This
tax shall be set apart ani applied exclusively Ia the
payment of The interest on the bonds herein prOVd-
td and The final redemption OF the principal ot said
bonds. and the faith of the State of Cahor Ia l.
hereby pledged for the pay ment herein provided
of the bonds issued by virtue of This Ac', and the n
trrest thereon aud all moneys that may be rec lived
by the state of California from the lritrd states
Government on account OF the civil Fund, 20 called.
ure hereby rrevocably pledged To the payment OF
the principal and interest the bonds issued under
this Act \ wiltul refusal neglect by SupervIso
or any olher officer To levy or collect the tax imposed
by this Act, shall be "A mstemeanor, 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
imprisOnm mt.
Sec7 Whenever. on the first day of Jfnuary or
Juy in any years there remuins after the payment OF
the interest as hereinafter proNilrd surplus OF ten
thousand dollars ore, shall be the 'iuy OF the
Treasurer Ia advertise for the space ol one week III
one daily paper published in English, in the city ui
New York and for one month in one daily new-pa'
per published in English at the state capital, Tor
sealed proposals. TO be- opened one month after the
expiration OF such publications by The Treasurer in
presence Of The Governor or Comp roller at lhe STATE
Cnpita for the surrender of bonds issued under this
Act which advertisement shall state the amount of
money he has hand for the purpose OF redenp ption
and they shall accept the loves proposals, ai rates
not exceeding par value as may redeem the gr''htst
amount OF bonds until the am"uh oi cash on ha'd
for REDEMPTION is exhausted: Irtrthd, hoWerer, IN
case n sufficient amount at such bonds shall not be
offered as aforesaid To exhaust the sinking fund To
less amount than ten thousand dollars. then II IS
hereby made the duty of the Treasurer Ia advertise
in two new spnpers one in New York and one AT the
Capal of the state, for ihree months, which hdVrr-
ti.rmeuts shall state the amount III the sinking tund
and the number of bonds numbering them in the
order of their issuance which such fund Il set apart
to nav and discharge; and IT such bonds so num-
hr. i'm such advertiser ent> shall not he presented
far nayment and cancellation within three months
from The expiration OF such publications. then such
r,nd shall remain in the Treasury In discharge such
hnnds whenever presentcd-but they shall draw no
interest allrr such publication a. last aforesaid.
- = Tbe Trpnstl-tr oI STATE shall keep full and
n,rti,r account and record Oi ail his proceedings
tnd,r this Act and of the bonds redeemed aud sur
r.nJ.rpd md he shall transmit to the Governor an
abstract of all his pro 'eedlh4s huer this Aci' am
hi onnuoI rpport to he by the Governor laid before
th. leg stature and all hooks and papers pertain
my hr matter. provided tor in this Act, shall at all
times be open the Inspection oi any pa " interest
p, ar the Governor, or The Attorney General, or u
committee of either brahcH vi 'ie Leg sathte' OF Il
Joint committee OF bolh
Sc O /, shall be the duty of the Treasurer in pay
~ i,,,r,st an ..id bonus when the same lis due
o1 of said interest fund 1t s'ireni, and IT SAID fund
he n,t sufficient. ten Ia pay he dehciehcy OUT oi
the General Fund grOr,icd that the Comptroller of
St,a hall first draw his warrant on The lreaSurt r.,
~ inter..t money about to hecume Jur, hch said
! intere. warrant shall be drawn AT least one month
, previons to he maturing q lhe Interest
Sc, TO- II shall be The duly OF the Governor and
Comptroller tp intend, at ie s' once ~ edch mon H.
At th. Tr.n.urer'- Office, while said bonds are being
iss,ed Ia examine all claims received by the Tren-
surnr a. aforesaid. aud cause the same 10 be regis
tered aud cgnc,iird IA such manner Il, 10 prevent
them from being rc>sucd or pIt Ia circulation.
! sec n The following are specified ~ the claims
which nra ,.nti,lri 10 be received aud funded under
this Act: First civil bonds Il the state issued under
The funding Art. passed in the years 75 ls52, 1853