Mariposa Democrat., 1857-06-18
CHAPTER cCxLIv.

May, a. D. 1857. DAVID p DOUGLASS,
[sEAIl Secretary Of state
CHAPTER CCXLIV.
An ACT TO PROVIDE FOR PAYING CERTAIN EQUITABLE
CLAMsAGAINsr THE STATE OF CALIFonSIA, AND
To CONTRACT FuSDED DEBr FOR THAT PURPOSE
The People of the STATE Of California represented in
/ Senate and assembly, do enact as toilOus
! SECTION l. For the purpose of liqudlting, funding
and paying the claims against the State Of California;
hereinafter specified the Treasurer Of State shall cause
I, be repaired snitabe ponds OF the State of Cafur
mia, not to exceed the sum Of three millions nine
hund ed tions md dollars, bearing interest at the rate
OF seven per cent per annum from the date OF Their
issue, payable at the State Treasures office, on
first day Of July, one thousand eight hundred and
seventy y-sevcn; the interest accruing on said bonds
shall lie due and payable at the 6ce of the Treasurer
of State on the first day of January aud of July Of
each year: Proridef, That the first payment OF in
terest shall not he made before the first day O Janua
one thousand eight hundred and fny-nine. Said
bonds shall be signed by the Governor, and counter
signed by the Comptroller and endpr-cd by the Treas
nrer Of State and shall have the seal OF the State
affixed thereto.
SIC. 2. Coupons for the interest shall be attached to
each bond, 50 that they may be rem we'd without in
! ju'y mulilaton to the bond. Said coupons, con
secntvcy numbered shall be signed by the Treasurer
/ of State.
SEC. 3. II shall be the duty Of the Treasurer and
Comptroller Of State each TO keep separate record Of
all such bonds may be Issued howing the number,
ulte ana amount I taff NpNus ana u NUl lilf
was issued and upon what claim, and i. amount and
none Of the claims herein seied shall he lquidated
or paid but in the manner herein provided
SIC. 1. The sum Of one Thousand dollars is 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 Comp roller shall not draw I7 war
rant on the Treasury for this amount until there Is
money therein to pay the same.
SEC. s. All persons having any Of the claims against
the State of California, entitled tobe funded as herein
after specified shall, upon the presentaon of the same
% the Treasurer OF State, receive IN exchange there
for a bond bonds OF the State Of California provided
for in the first section Of this Act but no bond shall
he issred for less sum than five hundred dollars. nor
for fractional arts Of hundred dollars, hut the
! Treasurer may ssre certificates Of such fractional
parts not bonded which said certificates shall he tram
feratle and entitled To be funded as efore provided.
The Treasurer ehl endorse on the ba of each 81 i'm
so received and quidaied, the date on which he re
ccived the same and from whom, aud the NUM- er Of
the bond issncd in hange therefor and snrh claim
shall be fled in the Office Of the Seeetary " Stite.
SRc. G For the payment within twenty years Of the
PRINCIPAL and interest Of the bonds Issued ~ der this
Act there shall he levied annually until the bonds
paid and promptly collected in the manner Is
or may be provided by law for ordinary State taxes,
tax of thirty cents on each one hundred dollars OF the
assessed value Of real and personal property in the
State and the fund de vcd from this tax shall he set
apart and applied exclusively 70 the payment of the
interest on the b0nd herein provided. aud the final
redemption Of the principal Of said bonds and the faith
Of the State Of California Is hereby pied ed for The
| payment a. herein provided Of the b nd- ssued by
virtue Of this Act, and the interest thereon and all
moneys that NAV he resolved by the State Of Calf r
MA from the United States Government ON account n
| the Civil Fund, 50 called, are hereby irrcvoeahly
pledged 10 the payne Of the principal aud interest
on the bond issued nuder this Act. wlllfu refusal
neglect by Supervisors or any other officer to levy
collect the tax imposed by this Act, shlll he mis-
dereanor, and the person persons convicted there
Of shall be removed from Office and punished by fine
not exceeding one thousand dollars, or by impnson-
ment IN the county Ill not exceeding six months, or
by both such fne and imprisonment
SIC. I. Whenever, on the first day nf January or
July in any year there remains, afer the payment Of
the interest as hcrerhelnfe provided surplus If ten
thousand dollars more II shall be tie duty Of the
Treasurer % ADVERT fr the space Of week, in
one daily wspaner published IN English, IN the city
Of New York, and for one mouth IN one daily new
paper published in English at the state Capital, for
sealed proposals. q he opened one mnnih after the ox
piiinn Oi sCh nnbifations hy the Tro surer Ia she
presence NJ the Governor or Comptroller At the 81
Capital for the surrender Of bonds s.ncd under this
Act. which advertisement shall state the amount Of
money he has nn hand inr the purpo.e Of redemption
aud they shall accept the lowest proposals. at rlie not
exceeding par value my redeem the greatest
amount Of bonds until the amount OF cash on hand fof
rcdemntion s exhausted pr0rided, hotcereJ, m case
n sufficient amount Of such bonds shall not be offered
10 exhinst the sinking fund 10 less amount than ten
thousand dollars, then 1t i hereby made the IS Of
the Treasurer tJadveiti-e in two newspapers one IL
New York and one az the Capital 81 th. state, fnr
tlfte months, Wilfn hnNel us mems NNhl HlAlt lN
amount in the sinking fund aud the number OF bond.
numbering them N the order ai their is-uanse, which
such fund is SET apart 10 pay and DIS mfsr; and "
such hond, 50 Numbered in such advertisements, shal
not be presented for payment and canc lllto within
three monhs from the expiration Of such Publication,
then such fund shall remain IN the Treasury to di-
charge snc' bonds whenev pre- seniedbu they shall
draw interest after such publication as last afore
said.
SIC g. The Treasurer Of State shall keep full and
par,icular account and record all his proceedings
under this Act, and Of the bonds redeemed aud
rendered and he shall transmit to tine Governor an alb
sract Of all his proceedings under this Act with hi-
annual report 10 he by the Governor la d before the
Legislature and all books and papers erlaining to
the matter provided FIR in his Act shall ut all times
be open to the inspection Of any party interested or
the Governor or the Attorney General or conimitice
Of e ther branch Of the Legislature, or joint com
mtiee Of both.
SEC o. II shall he the dnty Of the Treasurer To pay
the interest on said bonds when same fall due, out
of said interest fund if sufficient and If said fund le
not sufficient thon u pay the deficiency out nf the
General Fund Prorided, that the Comptroller Of
State shall first draw his warrant OH the Treasurer,
payable 10 the order Of said Treasurer for the amount
Of interest money about to become dae, which said
interest warrant shall he drawn at least one month
pr vious to the maturing Of the Interest.
SIC 10. II shall be the duty Of the Governor ard
Comptroller to attend at least in each month at
the Treasurer's off e. while said bnnds are being is
sued to exlmne al claims received by the Treasurer
ms aforesaid cause the same tn lie registered and
cance led in such manner a To prevent them from
being rei.sned or pat in circulation.
SEc. II. The following are specified as the claims
which are entitled to be received and Funded uud
this Act First, Civil bonds ot The State issued under
the funding Acts pissed in the years 1851 1862, 1853,
1855 aud 1856. which now out.tanding, with in
terest due on the same when presented appears by
} the coupons. Second Cnmptroler's warrants drawn
under sanction Of law for civil expenses phi TO Jan
uary 1t, A. d. 1857, and INV outstanding and nn.
paid but the provisions OF this Act shall not auth rize
the funding Of any of those warrants, the registration
and endorsement of which were cancelled or required
TO be cancelled by the provisions Of An Act TO cancel
the registration and endorsement OF certa warrants,
and prohibiting the payment Of the same approved
January 30th, A. d. 1856, or warrants which have
been specifically adjudged Illegal by any Court and
all said warrants specified in the last mentioned Act
are hereby expressly excluded irm all the benefit
and provisions Of this Act Third Just orlegal claims
against the State accrue prior 70 January ls, 1857,
and which may be allowed and audited by Act OF the
Legislature And If the Treasurer ot State shall will
fully Issue bond- upon claims not herein specified n
receivable, It shall be deemed mi-demeannr, and he
shall be punished provided in section of this Act,
and such bond shall be void.
SEC. l2. The claims specified in this Act may lie re-
ceved for funding and bonds therefor be issued
prior to the first day of January, 1859 but not after
ward and all claims not preseted or funding prior
to that time. excluded fpm the provisions of this
Act and such blank bonds prepared ander the prlvs
4.t.s IL. 4. l..