Oroville daily Butte record., 1857-06-06
LEGAL NOTICES.
[BY AUTHORITY
Vote on the State Debt.
OvFieK oS SEcRETtRT oF STATE, }

the original Act now on file in my office
Witness my hand, and the great seal of State, at
OF ce in Sacramento, California the twenty sixth day
OF May, A. D. 1851. DAVID F. DOUGLAS,
! lsEALl 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.
The Pe0pIe OF the STATE Of California r,uresentd in
Sentte and .issembly do exact as JoRoTs;
SECTION |. For the purpose of liquidating. fund
lDg, and paying the claims against the state 1T Cali.
fornia hereinafter specified the Treasurer of State
shall 10 be prepared suitable bonds OF the
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 Gate
of their ssue payable at the state Treasurers office,
on the hr-t day of july one thousand eight hundred
and enty seven: the interest accruing said
boads shall be due and PAYABLE al the ONCE of the
Treasurer of State on the first day oi January and Of
July Of each wear Prou'ded. That the first payment
OF interest shall not be made be,rc the first day of
ia uary, one Thousand eight hundred and fifty nine.
said bonds shall be signed toy the Governor and
countersgned by the Comptroller, and endorsed by
the Secretary of State and shall have e seal of the
| State affxei thereto.
| Sec. 2. Coupons for the interest shaS be attached
| to each bond that they may be reRov"d without
injury mutilation to the bond. Said Coupons con
secutively numbered. shall be signed by the Treas
urer of state
Sec g. 1t shall be the duty of the Treasurer aud
Comptroller o State each to keeps separate record
| II all such bonds us may be lssued, showing the
number. date and amount of each bohd, and to
whom The same issued and upon what claim,
and its amounts and none of the claims herein spe.
Gifted shall be liquidaed or paid but in the manner
herein provided.
Sec. =. The sum Of thousand dellars il hereby
appropriated out Of any money H the FreasIry not
otherwise appropriated to pay the expense thai. may
| hn M Fnn pF..Fl IN dtslNt
prepared, but the Comptroller ssrall not draw his
warrant on the Treasury for this ensoU,n enth there
is money therein to pay the same
| Sec 5 All sersUns having any dihe claHEls against
the state ~ CHliOrs&a. entitled 10 be funded here
nafler secSGed, saall upon the presenalfon al the
same TO the Treasurer OF the state receive M eN>
cha 4nce Hhtrefor bond or bonds OF the State of
California provided fr in The frat sesiinn of this
Act; but bond shall be Gssut oT less sum Than
] five hundred del;Ts. Ir fractional parts of a
hu ndred dollars, but the Treasurer may issue Ger.
bicates such fractional parts not bonded which
\ said cerifc ties shall be transferable and entitled TO
/, be funded as before provided The Treasurer shall
endorse, on the back ot each claim so received and
quidated, the date on which he received the same.
and from whom. and The number Ct the bond issued
W exchange theref", AID such claim shall De filed IN
the office of the secretary ot state.
Sec d. For the payment within twenty years of the
principal and interest OF the bonds ISSUED under iis
Act. there shall be levied annually, until the bond,
are paid, and promptly collected in the sam manner
as is or may be provided by law for ordinarJ State
INayes of thirty cents each hun ired dol
lars of the assessed value OF real and per sonul pro-
perry IN the slate. and the fund derived from This
tax shall be set apart AMI applied excl ,iyeiy to The
payment of the interest on the bonds neren prOvid
sd and the final redemption of the principal of said
bends. and the faith of the STATE. of Caor IN il
hereby pledged for the payment ms herein provided
of the bonds issued by virtue % this Act aud 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, called
are hereby irrevoraby Pledged TO the payment of
.ul
this Act wilfui ref isal neglect by Supervisors
any other officer 10 levy collect the tax imposed
by this Act, shall De 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 both such fine and
imprisonm mt.
Sect Whenever on the first day of Jsnuary or
July in any year, there remains, after the paym of
the interest hereinafter provided, surplus of ten
thousand dollars or ore, t shall be the duty of the
Treasurer TO advertise for the space of one week. In
one daily paper published in English, liz the city of
New York, and for one month IN one daily newspa
per published in English mt the State Capital, for
sealed proposals. to br opened month after The
expiration of such publications by the Treasurer, in
presence uf The GuvernDr Comp roller, at the State
Capital for the surrender of bonds issued under this
Act, which advertise ment shall state the amount of
money he has on hahd for the purpose o redemption,
and they shall accept the loves proposals, at rates
not exceeding par value rs may redeem the greatest
amount OF bonds until the amour OF cash on hand
for redemption is exhausted Tropided howere1. Ia
case n sufficient amount al such bonds shall not be
offered, aforesaid, to exhaust the sinking fund To
less amount than ten thousand dollars then II il
hereby made the duty Ot the Treasurer to advertise
i'm two newspapers. one In New York and one al the
Capital of the state. for :hree months which adVer-
tsements shall state the mount in the sinking fund.
and the number Of bonds numbering them In the
order of their issuance, which such fund is set Apart
10 nay and discharge: and if such bonds n,Hn-
bered in such advertiser ens, shall moi 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 presented-but they shall draw
interest after such publication "a last aforesaid
Sec. 4. The Treasurer Oi state shall Keep full and
particular account and record of all his proceedings
unde, this Act. aud of the bonds redeemed aud SIR
rendered, md he shall transmit to the Governor an
abstract of all his proceedings uer this Act with
his annual report. to be by the Governor laid hera
the Leg stature and all books and papers pertain.
ing To The matters provided for in this Act enR at all
es be- open The Inspection of any pa ~ interest
ed ar the tiovernur The Auornsy General,
committee of either branch OF tSe Leg stature, or IA
ioini committee OF both.
Sec O. Il shall be the duty of Ghe Treasurer tn pay
h.. ntrresi ,ia said bones whee the same lls due
odt of said interest fund il sufficient. and II SAID fund
be not sufficient. then TO pay the deficiency out or
the Generai Fund prOpdsd that the Comptroller of
State shall first draw his warrant on The Ireasur.r,
nayabI To the order said Treasurer for the amou"t
ot interest money about 10 h6eone due, which SAID
nteresi warrant shall he drawn at least one month
previous to he maturing ii the interest.
| SCI. 10 II shall be HE duty OF the Governor and
ComntroIer to attend, nj le ist once In each month.
Al, th Trensnrer'- office while said bonds are being
issusd tn examine all claims received by the Trea-
slrer rs aforesaid, aud Cause the same |" DE regis
tered and cancelled in such manner As To prevent
| them from being re-issued or put la circulation.