Oroville daily Butte record., 1857-07-08
LEGAL NOTICES.
tBY AUTHORITY.l
Vote on the State Debt.
oyrIcK or SECRETARY OF STATE.

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 10 provide for Paying certain Equit-
able Claims against the State of Califor-
MIA, and to contract Funded Debt for
that purpose.
The Pe0ple of the State of California, represented in
S'nate and .4ssembly. do enact as toiiogs
SECTION For the purpose of liquidatinc, fund
in z and paying the claims against the stale Of Cali
ornia hereinafter specified the Treasurer OF State
shall 10 be prepared suitable bonds of the State
OF California. not to exceed the sum of three millions
nine hundred thousand dollars, bearing interest az
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 Sc enty 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 wear: Prorided. That the first payment
ofint~rest shall not be made before the first day OF
ia uary. thousand eight hundred and fifty nine.
| Said bonds shall be signed by the Governor. aud
| countersgnnd 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 be attached
to each bond so that they may be removed without
injury or nutntion to The bond. said coupons. con-
secuiivey numbered. shall be signed by the Treas
urer of stale
Sec. 3. 1t shall be the duty Of the Treasurer and
Comptroller OF State each TO keep separate record
Jf all such bonds as 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 quldated or paid but In The manner
herein provided
Sec. q. 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 me Treasurer in having said bonds
prepared. but the Cumpruer shall not draw his
warrant the Treasury for this amount until there
is money therein 10 pdy the same.
Sec. 5 All persons having any of the claims against
the state of California entitled to be funded here
naer specified, shall, upon the presentation ef the
same to the Treasurer of the State, receive in ex>
change therefor bOtd bonds Of the State of
California. provided for In the first session Of this
Act; but no bond shall be issut for less sum ihan
five hundred dollars. nor for fractional parts Of
hundred dollars, but the Treasurer may issue GER
titcales O such fractional parts not bonded. which
said certificates shall be transferable and entitled To
be funded IA before provided The Treasurer shall
endorse, on the hack of each claim 80 received and
lquidated, the date which he received the same.
AMI from whom. and The number ct The bond Issued
in exchange therefor. ahd such claim shall De filed III
the Office Of he Secretary of State.
Sec i. For the paymeutwithin twenty years of the
principal and interest OF The bonds issued under This
Act, there shall be evlec annually, until the bonds
are paid, and promptly collected in the sam manner
as is may be provided by law for ordinary State
taxes tax of thirty cents on each one hundred dol
lars OF the assessed value OF ana DtTSOnaI pro-
perty in the State. and the fund derived from this
tax shall be set apart AMI applied exclusively 10 he
payment of the interest on the bonds herein pr0vid-
ed and the final redemption OF The principal of said
bonds and the faith of the State OF Cnlilor ia is
hereby pledged for the payment ms 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 Stales
Government 90 account u the Civil Fund, so called.
are hereby irrevocably pledged to the payment of
the principal afrf interest on the bonds issued under
th; hg
or any olher officer to levy collect the tax imposed
by this Act stall be 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 mouths, or by both such fine and
limprsonmn Mt.
Sec. 7 Whenever, on the first day of January
July in any year there remains after the payment of
the interest hereinafter provided, surplus Of ten
thousand dollars or ore, Il shall be the duty Of the
Treasurer to advertise for the space of one week in
one daily paper published in English, ia 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 snch publications by the Treasurer in
presence Of The Governor or Comptroller, at 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 may redeem the greatest
amount of bonds until the amount of cash on hand
for redemption is exhausted; procded, howerer, in
offered, aforesaid, to exhaust the sinking fund to a
less amount than ten Thousand dolars, then it is
hereby made the duty OF the Treasurer tn advertise
in two newspapers. one in New York and one at the
Capital of the State, for hree months, which adver-
tisemens shall state the amount in the sinking fund.
and the number of bonds numbering them in tho
ordpr of their issuance, which such fund set apart
to pay and discharge; and il such bonds, 80 num-
bered in such advertiser ents, 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 To discharge such
bonds whenever presented-but they shall draw no
interest after such publication as last aforesaid.
Sec. 8. 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 and he shall transmit to the Governor mn
abstract Of all his proceedings uauer this Act, with
his annual repor to be by the Governor laid before
the Legislature and all books and papers pertain
ing to The matters provided for in this Act shall at all
times be open to the inspection of any pa ty interest
ed, or the Governor, or the Attorney General, or
committee of either branch OF the Legislature, or
ioint committee of both.
Sec o. IL shall be the duty Of The Treasurer Ia pay
The interest on said bonds when the same falls due
out of said interest fund.- il sufficient. and if SAID fund
be not sufficient, then TO pay the deficiency out OF
the General Fund: pTouided. that the Comptroller OF
State shall first draw his warrant on the Treasurer
payable to the order Of sal Treasurer for the amot
of interest money about 10 become Jue, which said
interest warran. shall be drawn at least one month
previous TO The maturing of the interest
| See 10. 1t shall be The duty OF the Governor and
COMPTROLLER TO attend, at least once In each month
at the Treasurers Office, while said bonds are being
issued. 10 examine all claims received by the Trei-
surer as aforesaid, aud the same to be regis
tered and cancelled in such manner as 10 prevent
them from being re-issued or put la circulation
| Sec IL The following are specified as the claims
which are entitled to be received and funded under
this Act First Civil bonds OF the State Issued unae
he funding Acts passed in the years 1851, 1852 1858
| ,,eo L.ob nt1t