Oroville daily Butte record., 1857-08-21
LEGAL NOTICES.
[BY AUTHORlTY.l
vote on the state Debt
OFFrcE or SECRETARY or STATE.
Sacramento, California, May 90. 1857.

the original Act now ON file in my once
Witness my hand, and the great seal Of State, Al
of ce in Sacramento, California the twenty sixth da,
of May, A. D. 1857. DAVID F. DOUGLAS.
[sEAL.1 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 foiioTs
SECTION / For the purpose of liquidating fund
ing, and paying the claims against the State of Cali.
fornia, hereinafter specified. the Treasurer of State
shall canse 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 reasurers office,
the first day of July. thousand eight hundred
and seyentyseven: the interest accruno on said
bonds shall be due and payable at the office of the
Treasurer of State the first day Of January and of
July of each wear: Pr0rided That the first payment
ofinterest shall not be made before the first day of
Ja~ uary, thousand eight hundred and fifty nine
Said bonds shall be signed 10y the Governor and
cOuntersgned by the Comptroller, and endorsed by
the Secretary of State, and shall have the seal of the
| State affixed thereto.
Sec .. Coupons for the interest shall be attached
| to each bond so that they may be removed without
injury or mulilaon to the bond Said coupons, con-
secutively numbered shall be signed by the Treas
urer of State
Sec 3. 1t shall be the duty of the Treasurer and
Comptroller Of State each TO keep separate record
of all such bonds may be issued, showing the
| number. date and amount of each bond, and to
whom he same issued. md upon what claim,
| and its amount and none of the Claims herein spe-
Gifted shalt be qudated or paid but in the manner
herein provided
Sec J. 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
~ incurrpd Snri bonds
prepared, but the Comptroller shall not draw his
warrant on the Treasury for this amount until there
is money therein 10 pay the same.
Sec. B. All persons having any OF the claims against
the State of California entitled TO be funded as here
inafer specified, shall upon the presentation ef the
same to the Treasurer of the State, receive In ex>
change therefor bond or bonds of the State of
California provided for in the first session of this
Act but no bond shall be ssutd for less sum Than
| five hundred dollars, nor for fractional parts of
hundred dollars, but the Treasurer may issue GER
tiicates at such fractional parts not bonded, which
said certificates shall he transferable and entitled 10
| be funded before provided. The Treasurer shall
endorse, on the back of each claim so received and
liQui6ated. the date on which he received the same.
and from whom. and The number OF the bond issued
in exchange therefor and such ctum shall De filed IN
| the Office OF the Secretary of state.
! Sec g. 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
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 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 provid
ed and the final redemption of the principal of said
bonds and the faith of the State of falifor in 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
Government on account of the Civil Fund, so called.
nre hereby rrevocaby pledged to the payment of
the principal and interest on the bonds issued under
this Act A wilful refusal or neglect by Supervisors
or any olher officer TO levy collect the tax imposed
BY this Act, shall be msdemeanor, 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. z 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 ore 1t shall 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 for one month in one daily newspa-
per published in English mt the State Capital, for
sealed proposals. to be opened one month after the
expiration of such publications by the Treasurer, in
presence of The Governor Comptroller, at the state
Capital for the surrender of bonds issued under thus
Act, which advertisement shall state the amount oi
money he has hand for the purpose OF redemption,
and they shall accept the lowest proposals. at rates
not exceeding par value as may redeem The greatest
amount OF bonds until the amount OF cash on ha'd
for redemption is exhausted; 1ror'ded h9trerer III |
case sufficient amount at such bonds shall not be
offered as aforesaid, to exhaust the sinking fund to
less amount than ten thousand dollars then II is |
hereby made the duty OF the Treasurer TO advertise
i'm two newspapers, one in New York and one at the
Capital of the State for three months. which ndver-
tisements shall state the amount IN the SINKING fund
and the number of bonds numbering them In tho |
order of their issuance, which sch und Is set apar
to pay and discharge: and II sdch bonds, so num-
bered in such advertiser ents, shall not De 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 presenied-but they shaii draw no
interest after such publication as last aforesaid.
Sec. s. The Treasurer Oh state shall Keep iui ana
particuar account and record of all his proceedings
under this Act. and of the bonds redeemed ana sur
rendered. and he shall transmit to the Governor an
abstract of all his proceedings unuer tins Act, with
his annual report TO be by the Governor land before
the Ieo,slat,ire and all hooks and papers pertain
ing to the matters provided for in this Ac shn at all
times be open to the inspection OF any paiy interest
ed or the Governor or the Attorney Genera or
committee of either branch of the Legislature, or
joint committee oil Dotn.
Sec O. 1t shall be the duty of the Treasurer to pay
he interest on said bonds when the same falls due
out of said interest fund.- IL sufficient and SAID tund
be not sufficient, then TO pay the dencehcy out Oh
the General Fund; prorded, that the Comptroller OF
State shall first draw his warrant on the treasurer
navobe n, tbe order of said Treasurer for tbe amount
of interest money about to become due, which sald
interest warrant shall be drawn at least one montn
previous to the maturing of the interest.
Sec. 10. IL shall be lhe duty oil the Governor anu
COMPTROLLER to attend, at least once In each month
at the Treasurers Office, while said bonds are oeing
issued, to examine all claims received by the Irea
surer as aforesaid, aud cause the same TO be regis
tered and cancelled in such manner rs 10 preNeht
them from being re-issued or put la circuialoh.
Sec. II. The following are specified as the claims
which are entitled TO be received and funded under