Oroville daily Butte record., 1857-07-07
LEGAL NOTICES.
tBY AUTHORITY.l
Vote on the State Debt.
OTFIcE OF SECRETARY OF STATE,
= .E.....l. iCkG

the original Act now on file In my Office
Witness my hand, and the great seal of STALE at
OF In sacramento, California the twenty sixth day
of May, A. D. 1857. DAVID F. DOUGLAS,
lsEAL.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.
The People Of the State of California, represented in
Senate and ASSEMBLY do enact as JolouS
SECTION For the purpose of iiquidating, fund
4 ing and paying the clams 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 seven per cent per annum from the date
of their issue, payable at the State Treasurers Office,
on the first day of July one thousand eight hundred
and serenity seven: The interest accruin2 on ssid
bonds shall be due and payable at the Office of the
Treasurer of Siote The first day of January and Of
July of each year: Prouided. That the first payment
of interest shall not be made before the first day OF
Ja~ uary, one thousand eight hundred and fifty nine.
Said bonds shall be signed by 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. q Coupons for the interest shall be attached
to each bond. 80 that they may be removed without
injury or mutilaOn TO the bond. said coupons con-
secatvely numbered. shall be signed by the Treas
urer OF State.
Sec. 3. 1t shall be the duty of the Treasurer aud
Comptroller OF State each 10 keep separate record
of all such bonds may be issued showing the
number date and amount of each bond, and to
whom the same issued. and upon what claim,
and its amount: and none Of the claims herein spe
Gifted shall be liqudated or paid but in the manner
herein provided.
Sec. !. The sum of thousand dollars il hereby
appropriated out OF any money in the Treasury rot
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 on the Treasury Tor this amount until there
is money therein to pay The same.
Sec g. All persons having any of the claims against
the state of California. entitled 10 be funded here
inafer specified, shall, upon the presentation of 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 no bond shall be ISSUED for less sum Than
i've hundred dollars, nor for fractional parts of
hundred dollars. but the Treasurer may Issue GER
tidcates such fractional parts not bonded, which
said certiiicrtts shall be transferable and entitled TO
be funded as before provided The Treasurer shall
endorse, on The back of each claim received and
liquidatcd the date on which he received the same
and from whom. and the number ci The bond issued
in exchange therefn-. aid such claim shall filed IN
the Office Of The Secretary of slate.
Sec 6. 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
are paid and promptly collected in the sam manner
az or may be provided by law for ordinary state
taxes tax of thirty cents on each one hundred dol
lars OF the assessed value OF real and personal pro-
pCrty in the State. and the fund derived from this
tax shall be apart aud applied exclusively to the
payment of the interest on the bonds herein prOvid.
ed, and The final redemption OF The principal of said
bonds and the faith of the State of CafOr In il
hereby pledged for the payment rs herein provided
of the bonds issued by virtue of This Ar', aud the in
terest thereon and all moneys that DO rec lived
by the State of California from the United states
Government account OF the Civil Fund, 80 called
are hereby irrevocaby pledged 10 the payment Of
the principal and interest on the bonds Issued under
this Act A wiful refusal or neglect by Supervisors
or any other officer TO levy or collect the tax imposed
by this Act shall be misdemeGnur, 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 ia
not exceeding six months or by both such Tine and
Imprisonment.
Sec. 7. Whenever, on the first day Of Jsnuary or
July in any year, there remains after the payment of
the interest as hereinafter provided, surplus OF ten
thousand dollars or ore, Il Eal be the duty OF the
Treasurer advertise for the space Of one week, in
one daily paper published in English, in the city of
New York, and tor one month IN one daily neWspa
per published in English at the state Capltai for
sealed proposals, to be opened one month after The
expiration of such publications by the Treasurer, 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 lowest proposals, mt rates
not exceeding par value as may redeem the greatest
amount of bonds until the amount OF cash on hand
for redemption is exhausted: Tr3rtGed, h0W6rer. in
case sufficient amount of such bonds shall not be
offered. aforesaid, 10 exhaust the SINKING iuud to
less amount than ten thousand dollars, then il is
hereby made the duty OF the Treasurer 10 advertise
in TWO news papers, in New York aud nj the
Capital of the state, for ;hfce months, which adver
tisenents shall the amount IN the sinking fund
and the number Of bonds numbering them in tho
0rder Of their issuance, which such fund set apart
to pay and dischaIge and If sdch bonds, 20 num-
bered in such advertiser cns, shalt not be presented
for payment and cancellation within three months
from The expiration Of s,ch publication, then such
fdnd shall remain in the Treasury TO discharge such
bonds whenever preeen;ed-but they shall draw 40
interest after such publication rs las! aforesaid.
sec. g The Treasurer OI state shall keep fall ana
particular account and record Of all his proceedings
under this Act, and of the bonds redeemed and sur
rendered, and be shall transmit to the Governor al
abstract Of ali his proceedings uuuer this Act, with
his annual report TO be 10y TIE Governor laid before
the Legislature ; and all books and papers per;aiu
ing to the matters provided for in this Act, shan al
lines be open to HE Inspection of any pa iy interest
ed or the GoveTnOr, or the Attorney General or 4
commit.ee of either branch Of the Leg STATURE or a
iOint committee OF both
Sec g. II shall be the duty Of the Treasurer TO pay
;he interest on said bonds when the same falls due
ua OF said interest fund ii sufficient, and if SAID fund
be not sufficient, then to pay the deficiency out OF
the General Fund prouided, that the Comptroller of
State shall first draw his warrant on the Treasurer
payable to the order Of said Treasurer for the amon.
OF inlerest money about to become due. which said
interest warrant shall be drawn at least one month
previous 10 the maturing Of the interest!
Sec. 10. II shall be The duty of the Governor and
Comptroer to attend, at least once I'm each month
at the Treasurer's Office, while said bonds are being
issued. To examine all claims received BY the Trea-
surer aforesaid, aud cause the same To- be regis
tered and cancelled in such manner a. To prevent
them from being reissued or pat la circulation.
Sec. IL The following are specified as the claims
which entitled to be received and funded under
ko,H