Oroville daily Butte record., 1857-07-21
LEGAL NOTICES.
lBY AUTHORITY.l
Ote on the state De b t.
0FYIcE OF sEcRETARY or STATE.

Witness my hand, and the great seal of State, al
OF ce in Sacramento California the twenty sixth day
of May, A. D. 1857. 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 q Funded Debt for
that purpose.
The Peope of the State Of California, represented in
! SENATE and assembly. do enact as toltors:
SECTION l. For the purpose of liquidating, fund
ing, and paying the claims against the State of Cali
ornia, hereinafter specified. the Treasurer of State
shall cause to be prepared suitable bonds OF the state
of California. to exceed the sum OF three millions
nine hundred thousand dollars. bearing interest at
the rate Of seven per cent per annum from the date
of their issue. payable at the State 1reasurers office,
on the first day of July. one thousand eight hundred
! and seventy-seven: the interest nccruin2 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: Prorded. That the first payment
interest shall not be made before the first day of
ia uary, one Thousand eight hundred and fifty nine.
Said bonds shall be signed 10y 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 .. Coupons for the interest shall be attached
to each bond so that they may be removed without
injury or muuation 10 the bond Said coupons, con-
secutivey numbered shall be signed by the Treas
urer of state.
Sec g. IL shall be the duty OF the Treasurer and
! 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 10
whom the same issued. and upon what claim.
and its amount: : and none of the claims herein spe
Gifted shall be liquidated or paid but IN the manner
| herein provided.
Sec j. The sum of one thousand dollars ia hereby
appropriated out of any money in the Treasury not
otherwise appropriated to 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 s. All persons having any of the claims against
the State of California, entitled to be funded rs here
inafer specified, SHALL upon the presentation of the
same the Treasurer OF the State. receive III ex~
change therefor bond or bonds of the State OF
California provided for In the first session of this
LAct but no bond shall be ISSUED for less sum than
five hundred dollars. nor for fractional parts of
I'm ntred dollars but the Treasurer may issue GER
tlfcates OF such fractional parts not bonded which
said certificates shall be transferable and entitled to
! be funded as before provided The Treasurer shall
endorse, on the hack of each claim SO received and
liuuidnted, the date which he received the same
and from whom. and The number Of the bond Issued
in exchange therenr aid such claim shall DC hled III
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 and promptly collected in the same manner
az il or may be provided by law for ordinary state
taxes u tax of thirty cents each one bundred dol
lars of the assessed value Of real and personal pro-
pertv in the State. and the fund derived from this
lax shall be set apart AMI applied exclusively to the
payment of the interest on the bonds herein proyid
ed. and the final redemption OF the principal ot sad
bonds and the faith OF the State of California is
hereby pledged for the payment as herein provided
of the bonds issued by virtue of this Act, and the in
terest thereon and all moneys that may be receiv ed
bv the State of California from the United States
Goyernment on account of the Civil Fund, called
are hereby irrevocably pledged to the payment of
the principal and interest on the bonds issued under
this Act A wilfu refusal or neglect by Supervisors
or any Other officer to levy collect the tax imposed
bv this Act. shall be misdemeanOr, 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 Do'h such hne ana
! imprisonment.
Sec Whenever on the first day of Jenuary or
July In any year, there remains, after the payment of
the interest hereinafter provided. surplus of ten
thousand dollars II shall be the duty OF the
Treasurer to advertise for tho space of week in
one daily paper published in English, in the city Of
New 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 after the
expiration of such publications by the Treasurer, in
presence of the Governor 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 lowest proposals. at rates
not exceeding par value as may redeem the greatest
amount of bonds until the amount OF cash on hahd
! for redemption is exhausted; JroUided, holrerT, IN
case sufficient amount ot such bonds shall not be
offered as 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 newspapers, one in New York and ON" at the
CaDal of the State for :hree months, which adVer-
tsements shall state the amount in the sinking fund,
and the number of bonds numbering them III the
order OF their issuance which such fund Is set apart
! TO nav and discharge; and if such bonds So num-
bered in such advertisements, shall not be presented
for payment and cancellation within three months
frou The expiration of such publication, then such
fund shall remain in the Treasury to discharge such
bonds whenever presented-Dut they shali ara" no
interest after such publication as last aforesaid
Sec. &, The Treasurer oI state shall Keep ful and
norcular account and record of all his proceedings
under this Act. and of the bonds redeemed aud sur
rendered and he shall transmit to the Governor an
nbsiract 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 this Act shal at all
times be open to the Inspection OF any parry interest
ell or the Governor, or the Attorney General, or
committee of either branch of the Legislature, or
Joint committee OF both.
Sec O. It. shall be the duty Of the Treasurer io pay
;he interest on said bonds when the same falls due,
out of said interest fund ii sufficient tJf i' tfi
be not sufficient. then i0 l4y i'0 tta'i" ttf y'
the General Fund prcrr ot H' ..+'iaf "
State shall first draw his "'..rh. no -c 'ras" -f
payable TO the order OF sala i' iNF l.- ..iH .-
of interest money about 10 1t-iHt gag. "i-'-' # v
interest warrant shall be tT a' 'Qae. ore fief ]t
previous to the maturing of .'sU Ufsi.
| Sec. TO- Il shall be he du ui ..r t,otatc'f si.n
Comptroller to attend, al i'. .-r }a -l 'A"i'H
at the Treasurer's Office, viii i e.i- ~
issued, TO examine all claim fft fol s tHt F-t
surer as aforesaid. aud Gauss Al asfe t@ tercA 20
tered and cancelled in such ~ aef - i'
thaul from heinu Fp-Ssilft or pN 81