Oroville daily Butte record., 1857-09-16
LEGAL NOTICES.
IBY AUTHORITY.l
v EOte on the state Debt.
OrFICE or SECRETARY OF STATE.
Sacramento, California, Nav 26, 1857.

the original Act now on file In my Office
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.
(sEAL.l Secretary of State.
CHAPTER CCXLIV.
An Act to provide for Paying certain Eouit-
able Claims against the State of Califor-
MIA, and to contract Funded Debt for
that purpose.
The People Of the State of California; represented in
Senate and assembly do enact as foiIoUs:
SECTION For the purpose of liqulduting. fund
ing, and paying the claims against the State of Cali
forna, hereinafter specified the Treasurer of state
shall cause TO be prepared suitable bonds of the State
of California. not to exceed the sum of three millions
nine hundred thousand dollars, bearing interest at
the rate Of per cent. per annum from the date
of their ISSUE payable the State Treasurers Office,
on the first day of July, one thousand eight hundred
and seventy-seven: the interest accruin2 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 year: Pr0rided That the first pay ment
ontrrest shall not be made before the first day of
January, 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 2 Coupons for the interest shall he attached
to each bond. so that they may be removed without
injury mutilation to the bond. Said coupons. con
secutively numbered shall be signed by the Treas
urcr of state.
Sec 3. 1t 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 To
whom the same was issued and upon what claim,
and its amount: and none of the claims herein spe-
ciied shall be liqudated or paid but IN the manner
herein provided.
sec a. The sum of one thousand dollars il 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 the Treasury for this amount until there
is money therein to pay the same.
Sec. All persons having any of the claims against
the State of California. entitled to be funded rs here
nafier specified shall, upon the presentation "t the
same to the Treasurer OF the State, receive in eX>
change therefor bond bonds of the State of
California. provided for in The first session of this
Act; but bond Shall he issutd for less sum than
five hundred dollars. nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
tihcaies OF such fractional parts not bonded, which
said certificates shall be transferable and entitled to
be funded before provided The Treasurer shall
endorse, the hack of each claim so received ana
liqudated, the date or which he received the same.
and from whom and the number ct the bond issued
in exchange therefor. aid such claim shall DC filed IN
the Office of the Secretary OF state.
Sec Il. 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
paid, and promptly collected in the sam manner
M is may be provided by law for ordinary state
taxes tax of thirty cents each one hundred dol
lars of the assessed value OF real aud personal pro-
pertv in the state. and the fund derived from this
tux shall be set apart AMI applied exclusively to the
payment OF the interest on the bonds herein proVld
ed. and the final redemption OF The principal of said
bonds and the faith of the State of Caior IA 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 received
by the State of California from the United States
Government on account OF the civil FUND, so called.
nre hereby irrevocably pledged to the payment of
| md m nHA
this Act wfu refusal or neglect by Supervisors
any other officer 10 levy collect the tax imposed
by this Act shall be misdenleanor, and the person
or persons convicted thereof shall be removed from
Office and punished by Il fine not exceeding one thou
sand dollars. by imprisonment in the county Jail
not exceeding six months, or by both such fine and
Imprisonment.
Sec. T. Whenever on the first day of Jfnuary or
July in year, there remains, after the payment OF
the interest hereinafter provided. surplus of ten
thousand dollars or ore, 1t shall be the duty OF the
Treasurer to advertise for the space of one week. in
daily paper published in English. III 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 or Comptroller, at the State
Capital for the surrender of bonds issued under this
Aci, which advertisement shall state the amount of
money he has on hand for the purpose OF redemption
and they shall accept the loves proposals, at rates
not exceeding par value may redeem The greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted; IToUided h0Icerer in
case sufficient amount al such bonds shall not be
offered, aforesaid, to exhaust the sinking fund to
less amount than ten thousand dollars. then II is
hereby made the duty OF the Treasurer to advertise
in TWO news papers. one in New York and one at the
Capital of the state for ;hree months, which adver-
sements shall stale the amount i'll the sinking fund.
and the number of bonds numbering them in tho
order of their issuance, which such fund Is set apart
to pay and discharge; and if such bonds so num-
bered in such advertiser ens, shall not be presented
for payment and cancellation within three months
from the expiration OF such publication, then such
fund shall remain in the Treasury o discharge such
bonds whenever presented-but they shall draw no
interest after such publication as last aforesaid.
Sec g. The Treasurer OF 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 an
abstract of all his proceedings uuuer this Act with
his annual report, TO be 10y the Governor laid before
the Legislature and all books and papers pertain
ing To The matters provided for in this Act shall mt all
times be open the inspection ot any pa iy interest
ed or the Governor. or the Attorney General, a
committee of either branch of the Leg stature,
Joint committee OF both.
Sec O. 1t shall be the duty of the Treasurer tO pay
The interest said bonds when the same falls due.
out OF said interest fund ii sufficient, and If said fund
be not sufficient. then 10 pay the deficiency out or
the General Fund: prOUidsd. that the Comptroller of
State shall first draw his warrant the Treasurer,
payable to the order of said Treasurer for the amout
of interest money about to become due. which said
interest warrant shall be drawn at least one month
previous to The maturing of the interest.
Sec 10. Ii shall be lhe duty of the Governor and
COMPTROLLER to attend. at least once In each month.
at the Treasurer's Office, while said bonds are being
issued, to examine all claims received BY the Trea
surer as aforesaid, aud the same to be regis
tered and cancelled in such manner As tO prevent
them from being reissued or put la circulation.
Sec. IL The following are specified rs the claims