Oroville daily Butte record., 1857-06-09
LEGAL NOTICES.
[BY AUTHORITY.l
Ote on the state De b {.
OFfIcE on sEcRtrARy oF srATe, }


the original Act now on file in my oGice
Witness my hand, and the great seal of State, at
OF in sacramento California the twenty sixth 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 People Of State Of California represented IN
S.stt, and .7sscmtly do enact as toHOps:
SECTION |. For the purpose of qudaling, fund
ing and paying the claims against the stale of Gait
Nrnia, hereinafter spt Gifted. the Treasurer of state
shall to be prepared suitable bonds OF the State
of California. not to exceed the sum of three millions
nine huHdred thousand dollars, bearing interest at
the rate Ui seven per cent per annum from the GATE
OF thet issu payable al the state Treasurers office
cn the hrt day of July. thousand eight hundred
a7d ~ eHty seven: The interest accruin2 on said
boads shall be due and PAYABLE at the offioe of the
1reas r ot Slate the first day OF January and of
july 81 each wear: PrOuided. That the first pa, meht
ofints~est shall not be- made before the first day of
ia airy. one thousand eight hundred and hity nie.
satt tonds shall be signed 10y the Governor. and
eew0tersigned by the Comptroller, and endorsed by
the Secretary Of State, and shall have the seal OF the
\ St;,ie affixed thereto.
Sec. .. Coupons for tn interest shall be attached
TO each bond that they may te removed without
injury or muation TO the bond. Said coupons. con-
urer OF Stale
Sec g. 1t shall be the duty of the Treasurer and
Comptroller OF State each to keep Il separate record
| If all such bonds as may be issued. showing The
number. date aud amount of each bond, and To
who III the same was issued. and upon what claim,
and is amount: and none of the claims herein spe-
cited shall be qudated or paid but IN the manner
herein provided
Sec !. The sum Of one thousand dollars il hereby
appropriated out of any money in the Treasury not
otherwise appropriated 10 pay the expense that may
lRaa h.AIn hfans do
prepared. but the tump,r,ier shall not draw his
warrant on the Treasury for this amount until there
is money therein 10 pay the SANE.
Sec. 5 All persons having any of the claims against
the state u California entitled To be funded as here
nafier specified, shall upon the presentation "t The
same to the Treasurer of the state, receive in eA>
change therefor bond bonds of the State of
California provided for in the first session Of this
Act: hut no bond shall be i-sut d for a less sum han
ive hundred dollars. nor for fractional parts OF n
I'm ndred dollars, but the Treasurer may Issue Ger
tihcates OF such fractional parts not bonded. which
said certic ties shall be transferable and entitled Ia
be funded before provided The Treasurer snail
endorse, ON the back of each claim received aod
hqudaled the date or winch he received the same.
anh from whom, and The nnmbtr at the bond issued
in exchange therefn-, aid such claim shall De filed IN
the office Of The Secretary of state.
Sec 6 For The pay ment within twenty years ol the
principal and interest OF the bonds issued under ms
Act. there shall be levied annually, until the bonds
ARE paid, and promptly collected in the sam manner
n is or may he provided by law for ordinary state
lars of the assessed value OF real and personal pro-
pert, IN the State, and the fund derived from This
tax shall be set apart nnt applied exclusively 10 the
payment OF the interest on the bonds herein profd
ed. and The final redemption OF The principal of said
bonds and The faith Of the State of Cafor Ia Is
hereby pledged for the payWent as herein provided
of the bonds issued by virtue of this Act, and the in
tprest thereon and all moneys that may he received
by the State of Caiornia from the United States
Government on 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 wilfui refusal or neglect by supervisors
or any other officer TO levy collect the tax imposed
by this Act shall be misdemeanor, and the person
or persons convicted thereof shall be removed from
Office aud punished by fine not exceeding one thou
sand dollars, or by imprisonment in the county jail
not exceeding six mouths, or by both such fine and
imprsonn' mt.
Sec.7 Whenever, on the first day Of January
July in any year, there remains. after the payment of
the interest hereinafter provided. surplus of ten
thousand dollars or ore. Il shall be the duty of the
Treasurer ~ advertise for the space of one week in
one daily paper published in English. liz the city of
New York, ami for one month IN one daily newspa-
Der publi.hed in English ut the State Capital. Tor
sealed proposals. 10 be opened one month after he
expiration 0f such publications by the Treasurer in
presence If The Governor or Comp roller, a the State
IapitnI for the surrender of bonds issued under this
Act, which advertisement shall state the amount OF
money he has on hand for the purpose o redemption,
and they shall accept the loves proposals, at rates
not exc,edng par value "a may redeem ihe greatest
amount oi bonds until the am0nn OF cash on hand
for redemption is exhausted: IrUrided, howerer. in
case IA sufficient amount "l such bonds shall not be
offered. aforesaid to exhaust the sinking fund tn
less amount than ten thousand dollars. then il is
hereby made the duty ol the Treasurer TO advertise
J in two news spapers. one in New York and al the
Caplal of the state, for :hree months, which adyer-
tsements shall state the amount in the sinking fund
and the number at bonds numbering them in the
order Of their issuance wh eta such fund Is set apart
TO pay and discharge: ana II sdch bonds, 50 num-
ber,d in such advertiser eDts shalt not be presented
| for Dayment and cancellation within three months
from the expiration OF such publication, then such
fund shall remain in the Treasury TO discharge suck
bonds whenever presenicd-but they shall draw 10
interest after such publication last aforesaid.
Sec. 2. The Treasurer Oi State shall Keep full and
particular account and record of all his proceedings
under this Act, and of the bonds redeemed aud sur
rendered. md he shall transmit to the Governor
abstract Of all his pro ceilings iuer TINS Act. with
his annual report to be by the Governor laid before
the Leg gsature and all hooks and papers pertain
ing The matters provided TOR in hs shall all
times be open TO The Inspection ot any pa ty interest
| ed. or the Governor or the Attorney General
committee of either branch of the Leg stature, or
Joint cOmRittee OF both.
SEC 9. Il shall be the duty of the Treasurer to pay
he initreS -aid bonGs when the same I lls due
od of said Interest fund ii sufficient and If sad fund
be sufficient, then To pay the deficiency out OF
The General Fund prorded that the Comptroller of
State shall Grst draw his warrant on the Treasur.r,
payable the order of said Treasurer Or the amou
OF interest money about to become ,ue. which said
Interest warrant shall be drawn at least one month
! previous To he maturing of the interest
Sec. ~. IL skall be The duty Of the Governor and
Comptroller So attend at le sl once IN each monh
at the Treasirer- Office while said bonds are being
Issued. Ia examine al claims received by the Tre-
surer as aforesaid aud the same Ia be regis
tered ard cancelled IN such manner a. To prevent
them from heug re-issued or pa, la circulation.
1 SEC. II The following are specified as the claims
which entitled TO be received and funded under
this Act: First Civil bonds OF the State issed under
The funding Acts passed in the years 1851, e52 1858
4 \ = = -