Oroville daily Butte record., 1857-07-06

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of ce in Sacramento, California, the twenty 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 Funded Debt for
that purpose.
TIE Peopie of the Sfqte of California; represented in
| Sen1te and .4ssemLlv. do enact as foHouS:
SECTION For the purpose of liuudating, fund
z, and paying the claims against the state Of Cali
iornia. hereinafter specified. the Treasurer OF State
shall cause 10 be prepared suitable bonds OF the State
| of California, not ~ exceed the sum OF three millions
nine hundred thousand dollars, bearing interest at
The rate of seven per cent per annim from the dhle
of their ISSUE payable at the State TreGsurers Office,
the r-. day of July. one thousand eight hundred
and eniy. seven: the interest accruin2 on said
bonds shall be due and PAYABLE at The Office of the
Treasurer Of Slate on the first day of January and OF
July of each wear: PTOuded. That the first pay ment
ofintprest shall not be made before the first day oi
ia uary. thousand eight hundred and fifty nine.
| Said bonds shall be siCntd by the Governor. ard
counersgnPd by The Comptroller and endorsed by
the Secretary Of State, and shall have the seal Of the
| State alike thereto
Sec 2 Coupons for the interest shall be atached
to each bond so that they may be removed without
injury or mutaiiun 10 the bond. Said coupons. con-
secuiiyey numbered. shall lie signed by the 1rens-
| urer OF state
SEC 5. 1t shah be the duiy Of the Treasurer and
IDmDtrOllrr OI Eitle CiCn 20 keep Il separate rfCtFu
IF all saeh bonas may be issued, ia wing the
| number. date and amount of each bond, and t.
! whom he same issued. and upon ~hnt Cuim,
and its nnOunt and none of the cairns herein spe-
cited shall be liqu.datcd or pad but in the manner
! ht rein provided.
Sec !. The sum Of one thousand dollars i hereby
appropriated out of any money III the Treasury not
| otherwise appropriated TO pay the expense that may
be incurred by he Treasurer in having said bonds
prepared. but he Comprller shall not draw his
warrant on the Treasury for his amount until there
is money therein 10 pay Ihe sane.
Sec 5 All persons having any OF the Claims az inst
he state of tniorna entitled To he funded rs here
nafier specified, shall upon The presentation et The
sane to inc Treasurer of The State. receive in ex>
change therefor bond or bonds Of the State ot
California proyi led for in The first sesli u this
Act; tut no bond shalt be Ssu' Il far less sum Ihin
five hundred dollars. nor iur fractional paris Of
hundred dollar, but the Treasurer Way issue Ger
| tiHCueS ut such fractional parts not bonded which
sad cert fc shall be transferable and cvtitled 10
be funded helCrc provided The Treasurer snail
endorse, on the back of cach clHn so received nni
hqudalcd. the date which he received tie same.
AMI from whom. and the number ti The bord issued
in exchar ge lhcrti" AID such claim shall De hed IN
the office If he Secretary uf STATE.
Sec q. For The pay ineut within twenty ycnrs of the
princip and interest at the bonds issued under this
Acl. there shall he levied nnnnily unjil the bond
are paid aud promptly collected Ia the sam manner
NJ is may he pruviied by law flr ordinary Sttie
taxes tax of thirty cents each one hundred dol
lars of the assessed value Il real and personal pro-
perN in tie state, and the fund derived from This
tax shall be sci apnrt AMI App'u tACIu>lFtN 10 me
pigment of the interest on ihe bonds herein prnvid
ed. and The final redemption OF The principal nt snid
bonds aud the fhIh of the State of fnlItOr IN l.
hereby pledged for the paymen' as herein pr 'vdnd
of the bonds issued by virtue "f this Ac'. and The In
trrest thereon and all moneys that may he rrc Vcd
by the Stale of California tom ihc United Siales
Government on account of the civil Fund. SO called
are herehy irrevornhy pledged 10 the aAlnent Of
the trucjIai and interest On the bonds issued under
this Act "a wilful refusal neglect 10y supervisors
or any her officer 10 w coiIecl the tax imposed
by this Act shall be mi>demeanur. and the person
or PERSONS convicted thereof shall be removed from
office and punished by fine nut exceeding one thon-
sand dollars. or hy imprisonment IN The count, jan
not exc eiirR Fix monlhs, or by Dom snch ME ana
IimprlsOnm ut.
Sec. Z Whenever. on the first dav of J9nua'y or
July in any VI there remains. after the payment of
the interest a. hereinafter provided. surpiusot ten
thousand dollars hall he the iu y OF the
Tr, nsurer tn advertise for the space of one week in
me day paper published in English. IL ire city VI
New York. nnh tor one month III one daily ntwspr
per publi.hed in Fnvlirh NJ the state Capital Tor
sealed proposals. to be opened one month after me
expiration OF such publications by the Treasurer. IN
pr, sPnce # The Guvernrr ortnmp ruler. nj The STATE
Capital for the surrender o bonds issued under lhis
Act which ndvertis emcnt shall state the amount of
money he has hand for the purpose OF redeH pt!on,
and they shall accept the loves proposals. ut rates
not ediig par value IA may redeem The greatest
umouni Of bunUs until the umoun OF cash "n hand
for redemption Is exhausted; preceded, hoioerer in
case suffi. .ent amount al such bonds shall not be
Offered, utOreen !. to exhaust the sinking fund To
less amDill than ten thousand uoIlhf-. tncn IL Is
hereby made The duty OF tne Treasurer to ndveriisr
in TWO newspapers, one in New York and one M The
CAPITAL Of the state. for ;hree months. which udvpr
ienents shall state the IN oIni IN the sinh ing fund
and the number OF bonds numbering iom in the
order of their issuance " ch such i - set apart
70 pay and discharge; ana IL stich bonds, - mum
ber. in such advertiser ents, shall not be presented
for iyment aud cancellation within three months
ruu, The expiration OF such publication then such
fnd shall remain IN the Treasury to discharge such
bonds whenever presentd-but they shall draw no
interrs, after such publication as last aforesaid.
Sec. &. The Treasurer State shall keep full and
particular account and record of all his proceedings
under this Act, and Of the bonds redeemed and
rendered, md he shall transmit to the Governor an
abstract of all his proceedings unier this Act. with
his annual report. 10 ne by the Governor laid before
the Leg stature and all hoots and papers pertain
ing The matters provided tor in this Act, shall at M
ii es bc open to The inspection of any pa y interest
e,l. The Governor. or the Attorney General, Or u
committee OF either branch OF the Leg stature,
Joint committee OF both.
SEC 9. Ii shall be the duty of the Treasurer tn pay
he Interest said boDds when the same lis due.
cat OF said Interest fund, ii sufficient, a SAID fund
be Mt sufficient, then TO pay the deficiency ont OF
The Cenerai Fund: pT0uided TINT the Comptroller of
State -ha Tirsl draw his warrant on The Treasur r.
payable 10 The order ui said Treasurer for the
OF interest money about To become Jue, which said
interest warrant shall be drawn Mt least one month
previous 10 he maturing Of The interest.
Sec. III. II shall be lhe duty of the Governor and
Comptroller to attend, al H. st once IN each month
Al ihe Treasurers ffce, while said bonds beiIg
issued. To examine all claims received by the Trea
suTer aforesaid aud the la be regis
tered aud cancelled i'm such manner as tc prevent
then from being re-issued or pit n circulation.
SEC II The following are specified rs ihe claims
which ~ titled To be received and funded under
his Act: First, Civil bonds Of The Slate issned under
he tiindng Acts passed in the years 1851, -52 1853
lS55, ard ls56. which aTe noR outstanding with IN