The daily Butte record., 1858-05-29
AN ACT

for an amount not 10 exceed two hundred and |
thirty thousaaf dollars. to ba expendsd=is eea.l
strdetng Railroad aud Wagon Roads In said |
county, aud - provide for The payment Of said
Bpnds
The People he STATE Of Ca,fornir r>prs,satsi IN
SeHate mad 1sssmbly. do enact az fonoDs;
, SECTION The 30 tri Of Supervisors In AMI Tor
the county Of Bate, are hereby author zed and
empowered, at their discretion. 10 issue the bonds
Of the eoonty Of Bate, a. loan for the purpose
or ecnstrtctiDg faiiroaf within its In t. To the
extent of two hundred thousand dollar. to the
Feather river Railroad Con paoy shoui | a company
by that name be incorporated, or to any other
company now, or that may hereafter be- incorporated
whereby connection may he formed by uieans OF
a rail- cad between Oroyilie and tide water by way
Of Sacramento or otherwise.
Sac Whenever the Board of Supervisors OF
said county shall agree TO issue the bond. Of said
county as loan, to Any Incorporated company for
the purposes mentioned In the first section, and
Whenever said company shall, by and through its
proper and constituted authority, agree to receive
said loan and 70 give therefor its hrst mortgage
bonds, whereby the said railroad COMPANY aud all
the corporate property thereof. shall he held
curty for the payment Of said first mortgage bonds
and the interest thereon to said county. The Board
Of Supervisors In that event at regular meeting
thereof shalt by an order entered upon its records
decisre " tsssDt To such loan, the amount, In what
amounts, TO what company aud where eacn amount
| Is to be paid. Upon the entry Of such order the
Chairman OF the Board Of super visorr, the County
Treasurer, aud the County Auditor, shall
thereafter as practicable have prepared county
bonds, corresponding in amount, number. place Of
payment. and to whom payable, n designated by
said Board; provided. that bond shall la issued
for an amUuBt exceeding ave thousand dollars The
bonds shall draw interest at the rate Of eight per
cent. per annum, and Shal be made payable at the
Office oi the County Treasurer Of said county. or in
the city Of San Francisco, or Ia the city Of New
York at the option Of said company. or before
the nrst day Of January, Si9 The interest arising
on said bonds shah be ivs srri payable semi
ally ON the hrst day Of January and July in each
year and shall be due and payable at the same
the bonds are. Coupons for the interest shalt he
attached to each bond, so that when paid they
he removed without IN utilation to the bonds "A ni
delivered to the County Treasurer to bs by him
kept ~ voucher for the payment of the same.
SEC . The bonds and their coupons shah he con
secutively nambcred. signed by the Chairman o
the Boari Of Superyf+yrs tbe County Treasurer aud
Cmnty Auditor; and when 40 signed shsu be deliv
cred to the Board Of supervfsu1+ .t rcgula
meeting thereof who shall cau'e the County ClerI
OF said county, In their presence, to countersig
said bonds and TO atfx thereto the seal Of tn.
County Court and such attestaton shall bc entere,
upon the records Of said board giving the date, tn
number, the amount. when payable and to whom o
each bond. when said bonds halt have been thu
executed, and the said company shall have ts,ue,
and delivered in due form Of law, to the Board q
Supervisors Of said county, their hrst mortgag
b,nis, bearing interest, payable scm-annu ,ily, oi
tho first day OF June and December of each year
after tho nrst hvc years at the Iatc Of eight pes
cent per aDnum, from the date of said bonds an
corresponding In amount with said county bond.
and made payable the Lrst day OF November
1873, H. tho county of Butte or her 0rier, Mt tn
Office Of the county treasurer Of sail county. 4
that event aud not otherwi.e, the Chairman of tn
Board of 3uperv sors sh all deliver, bnsidsra
, tion for said FIRST mortgage bond' the said count
bonds to The said company, to he used, aml not 9th
erwisc. In tho construction and purelase Of mater
ais for the railroad To b. con'tructei within TIA
limit, OF the said county Of Butte.
sEc. Tns Chairman of ths DJtrl of Slpervi
sors Mt the time Of the delivery Of said county bond
to said comp pany, shall take the receipt of sal
I company, through it, proper eihcers stating tll
, date number, amount to whom aud where piyabl
Of each bond, which receipt ne shall cau.r to be
tered upon the records of said oari of supervisor
at regular m ,eting thereof; and the Cha airmau q
the Board of Supervisors sh, deliver the sait fir.
I m,rtgage bonds Of ssi company upon the recep
of the same to the County Treasurer to b hy hin
and his successors in Office safely kept and the sal
Treasurer shall give his receipt to said Chairman
Tor sti mortgage bnis, which receipt shall 1t at
u the date, number, amount, to whom aal where pa
able, OF each bond, and stii ciairmln shalt caus
. said receipt to be spread upon the records OF sl
r board at the next regular meeting thereof. whic
u mortgage bontA, by virtue of this law, shsil ho
said railroad company aud all the corporate prop
erty thereof A. security for the payment of ii
same, In preference 10 any other anl all other in
. cnmhrnncesthat may have ari en against said com
pany md ,ts property. subcqent To- the tins tha
tn" said Board of Supervisors agreed to issue sal
bonds ~ evidenced ny the drst original entry In re-
laton thereto In It's records.
SEC. g. u hall he the duty OF the Upart of Si
pervisors OF said county aul they are hereby au
thorissd and empowered To levy yetrly tax, to b
sty lod Interest tax, on tho assessed property %
said county bonds not exceeding eighty cents tn
hundred dollars, the same to bc assessed and collect
ed at the same time ami In the same intnuer as tn
l. other properly tax Is asse4sed and collected An
the Treasurer OF said county shall place TO that fun
1 the interest that may he paid over 10 him tn
said mortgage bonds, and The aad treasurer shal
pay or cauc to be paid, out of 'iii fund the inter
est on saii co1ptv bonds aS IL ftll dis; ami holl
there he surplus after the payment of sand inter
est the same shall be set apart asa sinking fun
for tho redemption of said bonds, ami when tn
Ii, III .,I..
tho rrea'nref shall apply the same to the pnrchs>
Of said bonds from tho lowest bid ior; provided, tn
same does not exceed the par value; uppn alverti
sing for twenty days, ia soms u,w spipsr publisha
In his county for bids
SEc o. Tho board Of Superyi sors of stid count
arc hereby authorized aud empowered in behalf q
the county To enfnree the pay nent OF said mortgag
bonds by suit. II default Is m tte In the payment d
the same at the time OF maturity, Aud they ma
sell ant transfer without re 'ourse said mortgag
; bonds - the holders Of the said county bon l., dol
lar for dollar or they may sell AMI tran afer th
same without recourse to any other parties for valu
; received at par value All money reaiized out q
said mortgage bonds shall hc an inviolhlc fund 70
the redemption of the county bonds, aui the h,
ance, II any, shall h, paid over into the genera
county fu a. for coanty purposes
Sgc !. The Beard Of Snpe vi,ors In and for II 1T
county are authorized aud empowered, aud IL
hereby made theirduty to ctu'e To bo issued eouu
ty bonds to the amount ot the further sum "f thirt
thousand dollars, in denominati ne OF one, thre,
and Ave hundred dollars, and In demo mi nations g
oue, two, and three thousand dollars. in all not
. exceed the foregoing SUN of thirty thousand dollar
OF which sum two thousand dollars Of said bonds, q
80 nnch thereof as may be necessary, shalt be es
pended under the supervision of the Bnari of Su
prvisors, in improving the road from oroville t
forbestown, In aid county; and the balance Of sai
: thirty thousand shall be expended as hereinafte
provided.
SIC. 8. The bonds shall draw ten psr cent pe
annum; they shall he cousecuuveIy nu nhered a
issued One haif of stii bond. shall be ma ie pay
able on the fr.t day Of January In tbs year is6
a.. t..t 81. Il.
hrst day ofJanasry ts6S, at the oice of the count
Treasurer OF said county At the city of New yor
at the option of the holder in the ori.r in whie
they are numbered. and shalt be made payable I
the person TO whom first Issued or h $ order. TIL
interest shalt be- paid -em-annnalty, on tho Hrst
OF January aud July in each year The bonds sha
. DO signed by the Chairman OF tho Board OF Superv
z sors, the County Auditor aud at the same they ar
issued shall be eouaterslgaed by the County Clers