Oroville daily Butte record., 1857-06-04

the original Act now on nle IN my onicG.
Witness my hand, and the great seal OF State, at
od Ce In Sacramento, California. the twenty sixth day
of May, A. ID. 1851. DAVID T. DOUGLAS,
! lsEALl Secretary of state.
CHAPTER CCXLIV.
An Act to provide for Paying certain Equt-
able Claims against the State of Califor-
MIA, and TO contract Funded Debt for
that purpose.
The Peolc Of the STATE Of California, rsprsseated IN
! S'n1ie and .Isscmbly. do enact az JoH0rs:
srcTloS |. For the purpose OF liquidatng, fund
my, aud paying the claims against the stale OF Cu
crin, hereinafter specified. the Treasurer of state
shall 10 be- prepared suitable bonds oi the state
of California. not to rxccrd the suin OF hroc millions
nine hundred thousand dollars, bearing interest at
the rate of seven per cent per annnm from the unic
of their issue, payable AT the state lr'asurcrs Office,
on the fir. day ot July, thousand eight hundred
| aud se entN seven: the interest HcCruH2 ON said
bonds shall bc due and PAYABLE AT the o'cc of the
Treasurer of State The first day ol january nnd of
July OF each year: PrOo'dcd That the first payment
Of interest shall not bee made before the hrst day OF
In uhry. Thousand cixht hundred ANA MY nine.
said bonds shnll be signed by the tiuVernur, aud
couutersgn"d by the C0mptrollcr nnd endorsed 10y
the Secretary of state, and shall have the seal Of the
1 STATE affixed thereto
Sec z Coupons for tn interest shall be attached
| to each bond 80 that they may be removed without
! injury or mutlauun Ia thu bond Said coupons,
| seculiycly numbered shall be signed by the 1rcHs-
| urer of STATE
| Sec 3. II shall he the duty of the Treasurer and
| Comptroller oi state euch 10 keep separate record
! If MI such bonds as may be issued. showing he
number. date AMI amount ui each bond, aud to
| witam lhc same WIS issued. aud upon ~hnt clHim,
| and Is amount: aud none of the claims herein spe
Gifted shalt to- qu!datcd or puld bui Ia the manner
her~n provided
S,.c. !. The sum of one thousand dollars u hereby
appropriated out OF any money IN the Treasury not
Otherwise appropriated Ia pay the expense TINT mny
be incurred by ne Treasurer in having said bonds
| Al. hall Ii
warrant On the Treasury for this amount until there
| is money therein TO pay The samr
Sec. 3 An persons having any Of the clnlms against
the Stale of California entitled To be funded here
nafcr specified, shalt upon the presentation ef the
same to the Treasurer oi the state, receive III eN,
change therefor II bond or bonds ol the state oi
California; provided for In tie first session o tins
Act: but no bond shall hc i-su for less sum than
! nve hundr,d dollars. nor tor fractional parts OF
hundred dollar, but the Treasurer may issue Ger
thcates oi such fractional paris not bonded when
said ccric cs shall be transferable aud entitled to
be funded as before provided The Treasurer shall
endorse, on the back of cnch clHn So received and
quidacd. the dat, On which he received the same,
aud from whom. and The number 81 li'- bond issued
IN exchange theretr AID such claim shall De licd IN
the office Of the secretary Of Slne.
Sec u. For the pay mcnt within twenty yenrs OF The
principal and interest Oi the bonds issWcd under This
Act there shall be levied annually, until the bonds
ARE paid, und promptly coiieccdn III the shn manner
M IL may be- provided by law for ordinary state
taxes of thirty cents on each one hunired dot
lars the assessed value al real U'fS'lhh
pcrtv IN ile state, and the fund derived from lliis
INK shall be set apart aui applied exclusively To he
payment OF the interest ON the bonds herein provid.
ed, and The fnnl redemption oil HE Tinclphi o Sad
bonds and the fnilh at the state OF 'nlitor III IL
hereby pledged for the payment NJ herein pr'v'deS
of the bonds issued by virtue of tins Act, hnd the ~
tcest thereon and all moneys that may he received
by the state Of California from the United Snies
Government account oi the CiVil Fund, 80 called
nre hereby irrevorably pledged to the payment OF
the principal and interest on the bonds issued under
this Act wiltnl refusal or neglect by Supervisors
or any other officer 10 levy collect the nA imposed
by this Act shall be "a miSdemrHnur, and The person
or persons convicted thereof shall be removed from
Office aud punished b., fine not exceeding one thou
sand dollars, or by Imprisonment IN the county Jam
not edinR six m0aths. or by lsnh such ine ana
mprsonm ut
Sec. 7 Whenever, on the first day of Jfnuary or
July In nny yrar, there Fcmains, acr the payment o
the interest us hereinafter provided, surplus oi Ten
thousand dollars or ore, Il shalt be the duly of the
Treasurer To adyerse for the space oi one week III
one daily paper published in English, /" the city o
New York, and Ior one month IN one dhliy newsph'
Der published in Engllsh nj the state Cnpiiai Tor
sealed proposals to be opened one nonlh after ~"
expiration ot such publications by the Treasurer, III
presence of The GoVernur or comp rotf ~ me Sihe
Capital. for the surrender o bonds issued uhdtr lhi-
Act winch ndverliscmrnt shall state the amount oi
money he has hand for the purpose ol redemption.
and they shall nccept the loves proposals, al rates
NOT cxc, etiing par value may redeem the grhicst
amount oi bonds until the amonn OF ca'h ON hand
for redemption Is exhausted; Iraotdtd, ho~erer III
c,se IA suiiirient amount such bpnds shall not be
ocrrd rs aforesaid, tO eyhansi the SINKING tund tn
Hess amount Lhnn ten thousand dollars. Then II ~
hereby made the duty o tho Treasurer to advertise
in Two news papers. one In New YORK ana onr nj III"
(aplinl o the state, for 'hree months. which hdver-
ti-omcns shau state the amount III the SINKING iund
md thc nnpts,r of bonds numbering them in The
ordrr o their issuance Inch such fund - set npnr
to my and discharge: Snd Il such bonds, 80 mum
bpr,d ia such advertiser eDs shalt not be presented
for pay inent and cancellation within three months
FROM The expiration ot sGch publication. then such
fund shall remain ~ the Treasury To discharge such
hands whenever presentcd--bul they shall draw no
interest after such publication ~ last aforesaid.
See. T. The Treasurer oI state shall keep full and
0nrticulr accoiut and record OF all his proceedings
1,der this Act aud Of lie bonds redeemed aud sur
sh.trlct of nl his proceedings unurr this Act, ith
his anunl report. 60 he ny the Governor laid before
the Leg saiures and M books and papers pertain
ing To Ihe provided for Ia this Act, shah nt all
times b open to H'e inspection of amy ph ~ interest
Ell, nr the tiovetaor, or the Attorney General or II
committee OF either branch Of the Leg stature, or n
Joint committee al buh
Sec o. II shall be the duty of the Treasurer Ia nav
he int,resl on said bonus when the same liz du.
,,dt i said interest fnnd IL sufficient, and If snl fund
n not sufficient. then la pay the deficiency out of
the General Fund.- proridrd that the Comptroller OF
state shall first draw his warrant the Treasur. r
pnyahle to the order Of said Treasurer for the nmo,It
eT interest money about 10 become ,lue which said
inb.r,st warrant shall be drawn Ietlst one month
previous Ia he maturing of the Interest.
Sec. 10. IL shall be The duty OF the Governor aud
Comptroller IA attend. at lets, In ench month
al The Treasurer, office, while said bonds are being
issued, examine all claims received by the Trea-
surer as aforesaid. aud cause the snrIr Ia be regis
lhem from being re- issued or put i. circulation
/ Sec. II The following are specified ~ the claims
which are entitled o be resolved and funded und..y
Tins Act: First Clyil bonds OF the Stale issued under
IL l.a IN = IL ?