Oroville daily Butte record., 1857-08-25
LEGAL NOTICES.
tBY AUTHORITY.]
Vote on the state Debt
OFFIcE OF SECRETARY or STATE.
: Sacramento, California, May 26, 1857.

tiy that the annexed is true and correct copy OF
the original Act now on file in my office.
| Witness my hand and the great seal of State at
of CO in Sacramento, California the twenty sixth dry
of May, A. d. 1887. DAVID F. D0UGLAS,
[sEAL.l Secretary OF State.
CHAPTER CCXLTV.
An Act to provide for Paying certain Equit-
able Claims against the State of Califor-
MIA, and to contract Funded Debt for
that purpose.
The PeoJe OF The State Of California, represented an
Senate and Assembly. do enact as toiio;ss:
SECTION For the purpose Of kquidatng, fund
ing, and paying the claims against the state of Cali
fornia hereinafter specified. the Treasurer OF state
sail to be prepared suitable bonds of the State
G California, not to exceed the sum OF three millions
nine hundred thousand dollars, besfing interest at
fhe rate of seven per cent per annum from the date
Of their issue, payable at the state Treasnrers office,
on the r.t day Of July, thourand eight hundred
and se-enty.sevenS the interest accruin2 on sad
bonds shall be due and payable al the once OF the
Treasurer o Slate the first day Of January and of
July of each wear: ProUided. That the first payment
of interest shall not be made before the first day Of
ia uary, one thousand eight hundred and fifty nine
Said bonds shall be signed by the Governor and
countersgned by the Comptroller. and endorsed by
the Secretary of State and shaft nave the seal of the
| State affixed thereto.
Sec 2. Coupons for tn interest shall be attached
to each bond so that they may be removed without
injury or nRation TO the bond Said coupons. CON
| secuvely numbered. shall be signed by the Treas
urer of state
Sec. 3. 1t shall be the duty Of She Treasurer and
Comptroller OF State each to keep a separate record
Of all suCll bonds as may be rtsued. showing the
number. Date and amount of each bohd, and to
whom The same issued. ami upon what claim,
and its amount; and none of the claims herein spe-
Gifted shall he kquidaed or paid but in the manner
herein provided.
Sec. i. The suga of one thousand dollars is hereby
appropriated oua Of any money in the Treasury not
| 49,,
be incurred by the Treasurer in having said bonds
prepared. but the Comptroller shalt 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
inafer specified, shall upon the presentation of the
same to the Treasurer of the state, receive In eX>
change therefor n bond or bonds of the State ot
California provided for in the frat session of this
Act but no bond shall be ISSUED for less sum than
| five hundred dollars, nor for fractional parts ot
hundred dollars, but the Treasurer may issue Ger
tficates ot such fractional parts not bonded which
said cerfc atCs shall be transferable aud entitled 10
be funded before provided The Treasurer shall
endorse on the back of each claim so received ana
hquidaied. the date on which he received the same
and from whom. and the number c the bond issued
in exchange thereto and such claim shall De filed IN
| the Office of The Secretary of state
Sec 8. For the payment within twenty years of the
! principal and interest of the bonds ssue! under his
Act there shall he GvlcG annually, until the bonds
! are paid, and promptly collected in the sam manner
az is or may be provided by law for ordinary state
taxes. ajax of thirty cents each one hundred dot
lars of the assessed value Of real and personal pro-
pertv in the state, and the fund derived from this
tax shall be set apart AMI applied exclusively To the
| payment of the interest on the bonds herein provd
ed. and the final redemption Of The principal of said
bonds. and the tHith of the state Of Nattor IA Is
hereby pledged for the payment 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
] Cow IN ont on a. hp EnnI.
ure hereby irrevOcably pledged 10 the payment of
the principal and interest on the bonds issued under
this Act wiliul refusal or neglect by supervisors
other officer To levy or collect the tax imposed
by this Act shall be a 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
! imprisonment.
| Sec. Whenever, on the first day of Jenuary or
July in any year, there remains, after the payment of
the interest hereinafter provided, surplus of ten
thousand dollars or ore. 4 shall be the uy of the
Treasurer to advertise for the space of one week in
une daily paper Published in English, in the city of
New York, and for one month in one daily newspn-
per published in English NJ the state Cacal. for
| sealed proposals. to hr opened one month after he
expiration of such publications by The Trenslirrr in
presence of The Governor or Comptroller ut the State
CAPITAL for the surrender Of bonds issued under this
| Act 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 rs may redeem the greatest
| amount OF bombs until The amoun O cash on hand
| for redemption is exhausted trGcided. Aorece1, in
case a sufficient amount ot such bonds shall not be
offered, aforesaid, TO exhaust the sinking uud 70
less amount than ten thousand dollars, then il il
hereby made The duty OF the Treasurer 10 advertise
in two newspapers. in New York and one at the
Capital of the state, tor .hree months which adver-
ti-ements shall state the amount in the sinking fund.
and the number of bonds numbering them in tho
order of their issuance which such fund Is set apart
| and discharge ana II SdCn DUnus, 20 num-
bered in such advertiser ens, shall not be presented
for payment and cancellation within three months
from ihe expiration OF such publication, then such
fund shall remain in the Treasury to discharge such
bonds whenever presentcd-but they shall draw no
interest after such publication last aforesaid.
Sec g. The Treasurer State shall keep full and
particular account and record OF all his proceedings
under this Act and of the bonds redeemed and sur
rendered. md he shall transmit to the Governor an
abstract of all his proceedings uuuer this Act, with
hi. annual report. to be by the Governor iad before
the Legislature and all hooks and papers pertain
ing to the matters provided for in this Act shall at all
pes he open 70 the inspection of any pa y interest
.i ar ihe Governor or the Attorney General, or
committee uf either branch of the Legislature, ora
iuiut committee Of both.
@.. . 4 shall be the duty of the Treasurer t0 pay
,ao fl.-- -,n +,id bouG~ when the same falls due.
.lt.i-ii ..,.- uii il lhiccnt, and ii aid fund
Z be n.t @.t tf...... RS iu r8S the deficiency out OF
,,,,. ,;4nsr, ,.. -.,iiF that the Comptroller of
1 ,,tstc -t,,H rl. warrant on the Treasurer,
payqbla+. tH. 1r..s ai Treasurer for the amon-t
( 81 i.s.r..i u.tr to become Iue. which said
/ interest ,.3r--.r. ts' draWa least one month
[ urrvtr ,e tD The rs. ...t gof the interest.
So. TO- 81 shall e duty of ihe Governor and
Cnmutt. .irr B.. I ttt H irlst once in each month.
p, tl.. r...rar'. .. while said bonds are being
iss.led t, r<afaiu. 80 claims received by the Trea-
-r, ? "a, H g-liI ANA cause the same To be regis
tered uad cancelled so such manner as To prevent
.hau fruul ueisg r, t--'ttsi ar pm in circulation.
Had