Mariposa Democrat., 1857-07-09

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 Comp roller shall not draw his war
rant on the Treasury for this amount until there is
money therein to pay the same.
SEC 8. All persons having any Of the claims against
the State of California entitled TO be funded as herein
alter specified shall upon the pre- entation Of the
to the Treasurer of State receive in exchange there
for bond or bonds OF the State OF California provided
for in the first section Of this Act but bond shall
be issued for less sum than five hundred dollars,
for fractional arts of a hundred dollars, but the
Treasurer may issue certificates Of such fractional
parts not bonded which said certificates shall be trans
fcrahle and entitled to be funded as before provided
The Treasurer shall endorse on the back of each clim
so received and lqnidaed, the date on which he re
ceived the same, ard from whom and the number Of
the bond issued in exchange therefor and such claim
shall be filed in the office OF the Secretary Of State.
SEC. 6. For the payment within twenty years of the
principal and interest of the bonds issued under this
Act there shall he levied annually until the bonds
paid, and promptly collected in the manner as is
or may he provided by law for ordinary State taxes
tax Of thirty cents each hundred dollars Of the
assessed value of real and personal property in the
State and the fund derived from this tax shall be set
apart and applied exclusively to the payment of the
interest on the bonds herein provided, and the final
redemption Of the principal of said 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 interest thereon and all
moneys that may be received by the State Of Calf0r
mia from the United States Government on account Of
the Civil Fund, SO called, are hereby irrevocably
pledged to the payment of the principal and interest
on the bonds issued under this Act. williu refusal
or neglect by Supervisors or any other officer to levy
collect the tax imposed by this Act, shall be a mis-
deTeanOr, and the person or persons convicted there
Of shall be removed from Office and punished by fine
not exceeding one thousand dollars, or by imprison-
ment in the county jail not exceeding six months, or
by both such fine and imprisonment.
SEC. 7. Whenever on the first day of January or
July in any year, there remains after the payment Of
the interest as herenbefore provided surplus Of ten
thousand dollars moe it shall be the duty of the
Treasurer to advertise for the space of week. in
one daily newspaper published in English in the city
Of New York, and for one month in one daily news
paper published in English at the state Capital, for
sealed proposals. 10 he opened one month after the ex
pnton Of such publications by the Treasurer, in the
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 hand for the purpose Of redemption
and they shall accept the lowest proposals at rates not
exceeding par value. ~ mly redeem the greatest
amount Of bonds until the amount Of cash on hand for
redemtion is exhausted prorided, hotrfrer in case
a sufficient amount of such bond, shall not be offered
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 one ut the Capital Of this State for
three months which advertisements 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 n
such bonds, numbered in snch advertisements, shall
not be presented for payment and cancellation within
three months from the expiration Of such publication,
then snch fund shall remain in the Treasury TO dis
charge such bonds whenev rpre'entedbutt they shall
draw no interest after such publication as last aiore
said.
SEc 3. The Treasurer Of State shall keep full and
particular account and record ot all his proceedings
under this Act. and Of the bonds redeemed and sur
rendered and he shall transmit TO the G0vernoran ah
strae of All his proceedings under this Act with his
al r. 10 Tho hnfnf tr
Legislature and all books and papers pertaining to
the matter- provided for in This Act shall at all times
be open u the nsnectlon Of any party interested or
the Governor or the Attorney General or n committee
Of c ther branch Of the Legislature or joint com
mittcc Of both.
sEc o. It shall be the duty Of the Treasurer to pay
The interest said bonds when the same fall due, ont
Of said interest fund.- it sufficient and If said fund he
not sufficient thon to pay the deficiency ont of the
! General Fund Prorided, that the Comptroller OF
State .hall first draw his warrant on the Treasurer
payable ~ the order Of said Treasurer fr the amount
0f interest money about ~ become drc, which sld
interest warrant shall be drawn at least one month
previous TO the matnring Of the interest
SEC. 10. II shall be the duty Of the Governor aud
Comptroller to attend at least once In each month, at
the Trolsurcrs oilire, while said bonds arc being is
sued 70 examine all claims received by the Treasurer
aforesaid aGd cause the same 70 he registered and
cancelled in such manner as to prevent them from
being reissued or mt in circulation.
SEC. II. The following are specified MS the claims
this Act First Civil bonds Of the State issued under
the funding Acts passed in the years 1851, 1882 1853
/ 1855. and 1856. which are now outstanding with in
eret d1e on the same when presented NJ appears bv
the coupons. Second. Comptrollet's warrants drawn
under sanction of aw, for civil expenses prr to Jan
uary lst. A. d. 1857. and now outsiandnr and m
naid but the provisions Of this Act srll not authorize
the funding Of any Of those warrants, the registration
and endorsement Of which were cancelled or required
10 be cancelled by the provisions of An Act 10 cnce
the registration and endorsement or certain warrants
and prohibiting the payment Of the same, approved
January 30h, A. D. 1856. or warrants which have
been specifically adjudgcd cgal by any Court and
all sAd warrants specified in the last mentioned Act,
are hereby expressly excluded from all the benefit
and provisions Of this Act Third Just orleRal cllms
against the State accrue prior 20 January lst 1857
and which may be allowed and andited by Act of the
Legislature. And II the Treasurer Of State shall will
fully Issue bonds upon claims not herein specified
receivable it shall be deemed misdcmeanor, and he
shall he punhed as provided in section Of this Act
and such bond shall he void.
SIC. u. The claims specified in this Act may he re-
| ceved for funding and bonds therefor may be issued
prior to the first day Of January, 1850 but not after
wards and all claims not presented for funding prior
to that time excluded from the provisions of this
Act and such blank bonds prepared under the prnvs
ions of this Act, shall then remain on hand, shall lie
destroyed in the presence Of the Governor Comptroller
and Treasurer.
Of November, A. d. 1857, as 70 all It's provisions, eX
cept those relating TO- and necessary for its submis
sion 70 the people, and for returning. canvassng and
Iprocaimng the votes-which sha take effect i'm
medatcy.
SEC II. This Act shall be submitted to the people
Of the State for their ratification at the next general
election, 10 be holden the rst Wednesday OF Sep
temher, A. d. 1857, and the qualified electors of this
State shall at said election on their ballots for State
officers vote for against this Act those voting for
the same. shall write have printed on their ballots
the words Pay the Debt; :" and those voting against
the same, shall write or have printed on their ballots
the words Repudiate the Delt.m
| SFC. Is. The votes cast for and against this Act
shall be counted returned and canvassed and dee red
in the manner and subject to the same rules
votes cast for the Treasurer of State, and If it appear
that majority of all the votes cast for alainst
this Ia r as aforesaid, in favor of this Act then the
same shall have effect as hereinbeiore provided, and
shall be irrepeaalle until the principal and interest Of
the liabilities herein created shall lie paid and dis
charged and the Governor shall make proclamation