The semi-weekly mountain Democrat. (Placerville, El Dorado Co. [Calif.]) 1860-1860, 1860-08-29
,Ry ArTyJORITYJ

and paying the claims against the State Of CaOI.
MIA hereinafter specified, the Treasurer Of state sha
cause ~ b<prepared suitable bonds Of NE otats u
CaIifornIa not 10 EXCEED the sum Of tive tundTed
thousand dollars, bearing interest al INC Ts'e OF
seven per centum per annum from he u,se os ule''
issue, payable at the ONCE OF the state IreAsurtrf
on the first day Of July, one thousand eignt nun
red and eighty The Interest accTuing on said bonds
shall be due aud payable Mt the office OF the TreaSur
er ofState on the Arst day Of January aud July Of
each year provided. that the nrst pAyniett y, w
terest shall be made before the first day OF January
one thousand eight hundred aud siNV-l"o; ram
bonds shall be signed by the Governor, aud '"ut'
tersgned by the Controller and endorsed ny tle
Treasurer 81 State and shall have the seal oil Tie
State affixed thereto
SEc p COUPONS for the interest, shall he attached
to each bond so that they may BE- removed without
injury or mutlatlOn TO the bond. said coupons con
secutivey numbered, shall be signed BY The treasurer
Of State.
sEc 2. It shall BE- the duty Of the Treasurer and
Controller 81 State, each, 10 keep separate record
Of all such bonds may be issued showing the num-
Der, date and amount Of each bond, AMI to whom
the same was Issued, and upon what Claim, and US
amount and none Of the claims herein specified siah
be liquidaed or paid but inthe manner herein pro-
vided.
sEc I. The sum Of one thousand dollars Is hereby
appropriated, out OF any money In the Treasury pot
otherwise appropriated TO pay the expense that may
be incurred BY the Treasurer In having said bonds
prepared, but the Controller shall not draw his war
rant on the Treasury for this amount until there Is
money therein to pay the same
SEc. ,. All per.ons having any oithe claims againH
the State Of California entitled 10 be iunhed as here
inaiter specified shall, upon the presentation OF TIE
same to the Treasurer Of State. receive IN exchange
therefor bond or bombs OF the State Of CALIFORNIA;
provided for IN the first section OF this Act. hut no
bond shaIl be issued for less sum than hvc hun:
dred dollars, nor for fractional parts Of hundred
dollars but the Treasurer may issue certificates al
such fractional parts not bonded which sad ccr'if.
cate shall be transferable AMI entitled t. he funded
as before provided. The Treasurer shall endorse IN
hn,E nf oh lair ,gn Vsl lUllllufpl.
the date which he received the same, and from
whom, and the number Of the bond issued III ex-
change therefor, and such claim shall be filed III the
office OF the Secretary uf state
SKC 4. For the payment within twenty years OF Tic
principal and interest NJ the bonds ISSUED under this
Act, there shall he levied annually until the bonds
paid and promptly collected in the same manner
as IL or may he provided by law for ordinary Sta'r
taxes tax Of one aud one quarter cents each
hundred dollars 81 the assrsscd value oi real aud
personal property in the state aud the fund derived
from this tax shall br set apart and applied exclusive
ly to the payment of the interest on the b"nhs here
In provided, and the iinal redemption ~ the lr'n-
ciJa If said bonds and the faith % tn state "f Cai
prnin is hereby pledged for the payment, ~ herein
provided nj the bonds issued by virtue OF this Act,
and the interest thereon; and all moneys That nay
be received by the State If California; from the Cni-
States Government aR-a.RA'ift ~ the t+til
Fnnh," - called are hereby irrev"cah|y pledged to
the payment Of The principal aud Int rest on 'l'
bonds issued under this Act. 4 wlltnl refusal or
neglect by the Supervisors. or any other Uihcrr. Ia
levy or collect the taxes imposed by this Art shall
he IA Inisdenranor. and the person ar persona com
vicich thereof shall he removed from "icc and pun
isicd by fine not exceeding Thousand dollars,
or by imprisonment in the County Jail not Exceeding
six months. ar by both such fine aud imprisonment.
SIC. I. Whenever. the first day Of fcbru ny or
August In any year there remains, after the payment
Of the interest. hercinhriOrc provided, surplus
Of ten thousand dollars more, il shall Ice the ddty
0f the Treasurer to advertise for tie space Of one
week in one daily newspaper, Published In English.
ell al NpWN prk: M AN n ne.
daily newspaper. published in Eg!isA, at tS STATE
Capital for sealed proposals. to he opened month
after the expiration Of such Publications. by the
Treasurer in presence OF the Governor or Controller.
NJ the State Capital. for the surrender 81 bnnd is
sued under this Act which advertisement shall state
the amount Of nancy he has on han for III" pnrp"-c
of redemption and they shall accept the nwrst pro.
posalS at rates not exceeding par value. rs may re-.
deem the greatest amount Of bonds uni tn" amount
OF cash hand for the redemption is exhausted:
provided however in sufficient amount II
such h0ndS shall not b. offered, ~ aforesaid 10
haust the Sinking Fund to less amount than ten
thousand dollars then II Is hereby made the duty ~
the Treasurer 10 advertise in two newspapers one ia
New York and one at the Capital 81 this State. fer
three months, which advertisement shall state the
amount in the Sinking Fund and the number ~
bonds. numbering them In the order Of their Issuance,
which such fund Il set apart to pay AMI discharge;
and II such bonds 90 numbered in such advertise
nIent shall not he presented for payment and cancel
latiun within~three months from the expiration ~
such publication, then such fund shall remain in III"
Treasury 10 discharge such bonds whenever pre-
scented, but they shall .lraw interest after such
publication. as last aforesaid.
SIC. :. The Treasurer Of State shall keep full and
particular account and record ri NIL his proceedings
under this Act. and Of the bonds redeemed and sur
rendered, and he shall transmit IN the Governor an
abstract NJ NIL his proceedings under this Act with
his aunnn report, Ia In by the Governor laid before
the Legislature; and all books and IaI,ers pertaining
Ia the matter provided for in this Act shall al all
times be open for the Inspection of any party inter-
estel, or the Governor the Attorney General, or
Committee otei,her branch OF the legislature, or
Joint Committee nj both.
Sc. o. shall be the duty 81 the Treasurer to pay
the interest said bonds when the same falls due.
out Of said Interest Fund. II sufficient: aud II sai
fund be not sufficient, then to pay the deficiency out
OF thu General Fund; provided, that the Controller
OF State shall frat draw his warrant the Treas
urer payable to the order Of saTrcasurer, for the
amount Of interest money about tn become due,
which said Interest warrant shall be drawn ut least
one month previous to the maturing Of the int rest
SIC. ~. II shall be Me duty Of the Governor and
Controller, while said bonds being issued, To
anime all claims received by the Treasurer afoFe
said and cause the sane Ia be registered aud cancel
ed in such manner as Ia prevent them from being
issued or put in circulation.
Sn. II. The follnWng spccn' NJ the ClHlrs |
which entitled to be received and funded under
This Act;
Fir~t-Civil bonds Of the State Issued under the |
',ndng Acts passed In the years thousand eight
hundred and hhy.onc, thousand eight hundred
and httytwO, one thousand eight hundred and fifty.
hrce, one thousand eight hundred and ii0y.lv, aud
we thousand eight hundred and hfy-siN, which are
low outstanding, with interest due the same, when
Rs AppearS by the coupons.
Sccond-COntrOller'S warrants drawn under sane
Ion OF law for civil expenses prior tn January Hrst,
\. n. one thousand eight hundred and fifty seven,
md now outstanding and unpaid. But the provis.
ons Of this Act shalt not authorize the funding VI
my OF those warrants tue registration aud endorse
nent Of which were cancelled or required 10 he can
.eed by the provisions Of An Act 10 cancel the reg.
siTaii0n and Enforcement OF certain warrants. and
the payment 81 the fanIe," approved Jau
iarythirtcih' A. D. ont thousand eight hundred and
ify.siX, or warrants which have been specially nd
Judged Illegal by any Court; AMI oil said warrants
specified In the last mentioned Act, are hereby eX-
pvcssly excluded from all the benefits and provisions
" this Act. DO
Third-Iust or l. gal claims against the State NJ. |
-rueh prior to January first, thousand tight hun
srcd and Nifty seven, and which have been may |
be allowed ard audited NJ Act Of the Legislature.
And II the Treasurer Of State shaI Willlully issue
bonds upon claims not herein specified as rert vMbe
II shall he deemed u misdemtanOr, aud h. shall he
punished provided IN section six OF this Act aud
such bond shah btvoid.
sEe. IT, The claims specified in this Act may he re-.
revived for funding, aud bonds thcreiOr may be issued
prior to the ARR day Of January one thousand sht
hundred and siSty.two, hut not afterwaTd and all
claims not presented for funding prior to that time
are excluded from the provisions Of this Act, and
such blank hOnds prepared under the provisions If
this Act Ms shall then rtman on hand shall In des
troycd In the presence OF tie Governor, Controller
aud Treasurer.
Src. Is. This Act shall take effect on the FIRST day
Of January, \. D. one thousand eight hundred and
siXty-Onr, us to al its provisions except these rela
ting to and necessary for its submission TO the PEG.
pie, and for returning, canvass ng aud PrOrlanIinb
the vote, which shall take effect immediately.
SEc. II. This Act shall be submitted to the people
Of che State, for their ratification, at the next general
election, to be holden the Tuesday next after the
first Monday in November, one thousand eight hun.
dred and sixty; AID the qualified electors Of the
State SHALL at said election, their ballots for State
officers, vote for or against this Act; those voting
Tor the same shall write have printed their bal.
lots the words "Pay the Debt !" and those voting
against the same shall write have printed on theiV
ballots thu words " kepudlate the Debt"
SIC. Is. The votes cast for and against This Act
l.aM IL. lal L l..