Oroville daily Butte record., 1857-07-01
LEGAL NOTICES.
IBY AUTHORITY.l
Vote on the State Debt.
OFVIcE OF SECRETARY or STATE.
California. May 26, 1857.

Witness my hard, and the great seal OF state, at
of ce In Sacramento, California. the twenty day
of May, A. D. 1887. DAVID F. DOUGLAS.
[sEAL.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 People Of the State Of California, appreciated an
Senate and .4sseW5ty do enact as folors
SECTION For the purpose of liquidating, fund
Ing and paying the claims against the State of Cali
fornia 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 annum from the dale
of their issue payable at the State Treasurers Office,
on the first day of July, thousand eight hundred
and seventy seven the interest nccfun2 on said
bonds shall be due and payable at the office OF the
Treasurer of State the first day Of January and Of
July of each year. Provided. That the first payment
ofinteres shall not be made before the first day of
Ja~ uary, thousand eight hundred and fifty nine
Said bonds shall be signed by the Governor. and
countcrsgned by the Comptroller, and endorsed by
the Secretary of State and shall have the seal of the
State affixed thereto.
Sec q Coupons for the interest shall be attached
to each bond 80 that they may be removed without
injury or muation to the bond. Said coapons, con-
secuively numbered. shall be signed by the Treas
urer or State.
u. Ol
Comptroller OF State each to keep separate record
of all such 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 amounts and none of the claims herein spe-
cited shall be liquidated or paid but In The manner
herein pr0vided.
Sec. T. The sum OK cne thousand dollars il hereby
appropriated out of any money in the Treasury not
otherwise appropriated to pay the expense that may
be incurred by me Treasurer In having said bonds
prepared, but the Comp'r"llef shall not draw his
warrant The Treasury for this amount until there
is money therein TO pay the same.
Sec. s. All persons having any of the claims against
the State of California, entitled TO be funded us here
inaier specified shall, upon the presentation of the
came to the Treasurer of the State, receive in ex>
change therefor bond or bonds of the state OF
California. provided for in the first session of this
Act; but bond shall be issued for less sum than
five hundred dollars. nor for fractional parts Of
hundred dollars, but the Treasurer may issue GER
tidCuies OF such fractional parts not bonded, which
said certificates shall he transferable and entitled TO
be funded before provided The Treasurer shall
endorse, on the back of each claim so received and
iiqudated, the date on which he received the same.
aud from whom and the number OF the bond issued
in exchange therefor. ard such claim shall De filed in
the Office of the Secretary of State.
Sec q. 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
paid, and promptly collected in the same manner
as is or may be provided by law for ordinary State
taxes tax of thirty cents each one hundred dol
lars of the assessed value OF real and personal pro-
perty in the State. and the fund derived from this
tax shall be set apart AMI applied exclusively to the
payment of the interest on the bonds herein provid
ed. and the final redemption of the principal of said
bonds and the faith of the State of California Is
hereby pledged for the payment ms herein provided
of the bonds issued by virtue of this Act and the in
terest 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 "revocably pledged to the payment of
the principal and interest on the bonds issued under
mil al lnrf ~
or any other officer TO levy collect the tax imposed
by this Act, shall be misdemeanor, aud the person
or persons convicted thereof shall be removed from
oiee and punished by fine not exceeding one thou
sund dollars, or b. imprisonment in the county jail
not exceeding six months or by both such line 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 duty of the
Treasurer advertise for the space of one week in
one dm,y paper published in English, in the city Of
Kew York, and for one month in one daily newspa-
per published in English nj the State Capital 70.
sealed proposals. to be opened one month after the
ex xpiraon of such publications by the Treasurer in
presence of the Governor or Comptroller, at the State
Cnpta for the surrender Of bonds issued under this
Act. which advertisement shall state the amount OF
money he has hand for the purpose of redemption,
and they shall accept the lowest proposals. at rates
not exceeding par value as may redeem the greatest
anount OF bonds until the amount of cash on hand
for redemption is exhausted; 1rorided h0lcGrer in
case suficen, amount Of such bonds shah not be
offered, MS aforesaid. to exhaust the sinking fund tn
less amount than ten thousand dollars. then it is
hereby made the duty OF the Treasurer to advertise
in two newspapers, one in New York and one at the
CAPITAL Of the State, for three months, which adver
tisemens 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
10 pay and discharge: and il such bonds, so 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
fund shall remain in the Treasury to discharge such
bonds whenever presened-but they shall draw
interest after such publication as last aforesaid
ssee. g. The Treasurer OF State shall keep full and
particular account and record of all his proceedings
under this Act, and of the bonds redeemed and
rendered, and he shall transmit to the Governor
abstract of all his proceedings unuer 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 hs Act, shall Mt all
times be open to the inspection of any patty interest
ed or the Governor, or the Attorney General, or
committee of either branch OF the Legislature, or
Joint committee of both.
;he interest on said bonds when the same falls due
out OF said interest fund.- II sufficient, and if said fund
be not sufficient. then TO 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 amount
interest warrant shall be drawn at least one month
previous to the maturing of the interest.
Sec TO- II shall be The duty of the Governor and
Comptroller to attend, at least In each month.
at the Treasnrer's Office while said bonds are being
issued TO examine all claims received by the Trea-
surer as aforesaid, and cause the same to be regis
tered and cancelled in such manner as 10 prevent
them from being re-ssued or put la circulation.
See. IL The following are specified as the claims
which are eutitled To be recaiv and funded under
Act. Twill ~ finS