Oroville daily Butte record., 1857-07-04

oiIhCss my uoNus uhu SAc1t otdi VI Ctates st
of in Sacramento California the twenty sixth day
of May, A. D. 1857. DAVID T. DOUGLAS,
| [sEAL.l Secretary of State.
CHAPTER CCxLIv.
An Act to provide for Paying certain Equit-
able Claims against the State Of Caifor-
mia, and TO contract Funded Debt for
that purpose
The People of the state of California represented in
| SENATE and .assembly do enact as tolio1s
SECTION For the purpose Of liquidang. fund
ing and paying the claims against the State of Cali
fornia, hereinafter specified the Treasurer OF State
shall cause To be prepared suitable bonds OF the state
Of California not 10 exceed the sum of three millions
nine hundred thousand dollars, bearing interest at
the rate of per cent per annnm from the date
of their issue payable at the state Ireasarers office,
on the first day OF July. thousand eight hundred
and seventy seven the interest accrnn2 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 year: ProUidcd That the first payment
of Interest shall not be made before the FIRST day of
ia uafy, thousand eight hundred and fifty nine.
Said bonds shall be signed 10y 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. . Coupons for the interest shnll be attached
to each bond, 80 that they may be removed without
injury or mutation to the bond. said coupons. con-
secutively numbered shall be signed by the Treas
urer of state.
Sec s. 1t shall he the duty Of the Treasurer and
COMPTROLLER OF state cach 10 keep separate record
of nil 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-
cfpi shall be iiqudated paid but in the manner
herein provided
sec. !. The sum Of one thosand dollars il hereby
appropriated out of any money in the Treasury not
otherwise appropriated 10 pay the expense that may
be incurred by Inc Treasurer in having snid 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. 8 All persons having any ofthe claims against
the Stale of California entitled 10 be funded as here
inaer specified, shall, upon the presentation of the
same to the Treasurer of the state, receive in ex>
change therefor bond or bonds of the State oi
California. provided for In the first session of this
Act; but no bond shall be issued for less sum Than
five hundred dollars. nor for fractional parts OF
hundred dollars, but the Treasurer may issue GER
tlhcnies o such fractional paris not bonded, which
said certificates shall i've Transferable and entitled To
/ be funded before provided The Treasurer shall
endorse, the back of each claim 80 received and
liauiduted the date which he received the same.
and from whom. and the number ct the bond issued
in exchange therefor and snch claim shall De filed IN
/ the Office OF the Secretary of state
Sec q. For the payment within twenty years ri the
princp and interest of the bonds issued under this
Act, there shall be levied annuity, until the bonds
are paid, and promptly collected IN the sam manner
az IL may be provided by law for ordinary state
taxes tax of thirty cents each one hundred dol
lars of the assessed value OF real and personal pro-
perry in the Stae. and the fund derived from this
tax shall be set apart AMI uppleu eSciN-Ne! 10 me
payment of the interest on The bonds herein provid
ed and The final redemption OF The principal ot said
bonds and the faith of the State Of callfor ia Is
hereby pledged for the pay ymeD as 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 account OF the Civil Fund, 40 called
are hereby irrevOcably pledged 10 the payment OF
the principal and interest the bonds issued under
this Act A wfu refusal or neglect by Supervisors
or any Other officer TO levy or collect the tax imposed
| by this Act, shall be misdemeanor, and the person
or persons convicted thereof shall be removed from
office and punished by fine not exceeding one thou
sand dollars, by imprisonment in the county Jail
not exceeding six months, or by both such nne and
imprisonment.
| sec T. Whenever on the first day of January or
July in any year, there remains, aer the payment of
the interest hereinafter provided, surplus of ten
thousand dollars ORE 1t shall be the duty OF the
Treasurer TO 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 at 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 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 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 fTaulde9, hoWerer, in
case a sufficient amount oi such bonds shall not be
offered. as aforesaid to exhaust the sinking fund To
less amount tnnn Ten tnOHsaIlu l'leii IL is
hereby made the duty OF the Treasurer TO advertise
in two newspapers, one in New York and one at the
Capital of the State, for three months, which adyer-
tisements shall state the amount in the sinking fund
and the number of bonds numbering them in tho
order of their issuance, which such fund Is get apart
to nav and discharge; and if sdch bonds, SO num-
bered in such advertiser ens, 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 us last aforesaid.
Sec, g. The Treasurer state shall Keep full and
Dnricular account and record OF all his proceedings
under this Act, and of the bonds redeemed aud sur
rendered md he shall transmit to the Governor an
abstract of all his proceedings uhuer this Act with
his annual report to be 10y the Governor laid before
the Legislature and all books and papers pertain
ing To the matters provided for in this Act, shall Mt all
Zines be open to the inspection of any pa y interest
ed or the Governor, or the Attorney General, or
committee of either branch of the Legislature, or
Joint committee OF both.
Sec 0. IL shall he the duty of the Treasurer to pay
;he interes, on said bonds when the same falls due.
ou OF said interest fund, ii sufficient and II SAID fuhfl
be not sufficient then To pay the deficiency out OF
the General Fund g,r0uided that the Comptroller OF
State shall first draw his warrant on the Treasurer.
payable 10 the order of said Treasurer for the nmon.i
OF interest money about to become due. which SAID
Interest warrant shall be drawn at least one month
previous to the maturing of the interest.
See. 10. II shall be The duty OF the Governor ana
Comptroller to attend, at least once In each month.
at the Treasurer's Office while said bonds are neihg
issued, to examine all claims received by the lre
surer as aforesaid, aud cause the same 10 De regis
tered and cancelled In such manner as 10 prevent
them from being re-ssued or put Ia crcuiaiioh.
Sec. II The following are specified as the clams
which are entitled 10 be received ana iuhneu uhuef