The semi-weekly mountain Democrat., 1860-10-20
IBY AUTHORTTY.l


Senate aud Assembly, do enass,aS follows:
SECTION I. For the purpose Of lIquldstng. funding
and paying the claims against the Ssate o. CesoI:
nIa hereinafter specified the Treasurer o. etsle shA
cause 70 beprepared suitable bonds O. ne Stase 2!
California, not 70 exceed the sum Of TIVE hundred
thousand dollars, bearing interest et the r.io O.
seven per centum per annum from the date 81 thetr
ISSUE: payable a. re oos o. sSs sste Is. 49,
drGd and eighty me inteTest OoeEung - sal9 boaAS
1haI be due and payable II the Ues Of the fFeasuF
er ofstate on The Ar@ day q 1snueTy sna 'Sly Of
teTest shall be made before the AFst day Of January,
one thousand eight hundred and sxtytWo: baid
bonds shall be signed ~ the 9oveTncE, anG eoun.
Treasurer Of State, and shall have Tie zeal Of TIE
State afhxed thereto.
Sac O. Coupons, for the interest," shall Be attached
70 each bond 20 that they may be removed without
injury or mutlAton to the bond. Said coupons, con.
secutvely numbered, shall be signed BY the treasurer
Of State.
Controller Of State eArh, 70 keep separate record
Of all such!bonds may be issued, showing the num-
Der, date and amount Of each be ID, and to whom
the same vas issued, and upon what els'mi and Ne
amount and none Of the claims herein specified shall
be liquidated or paid bot inthe manner heFein pro-
vided.
SIC, 4, The sum Of one thouSand dolIass ls hereby
appropriated out Of any money In the Treasury ne
Otherwise appropriated TO pay the expense enat may
be incurred By the Treasurer In having said bonds
prepared, but the Controller shall not draw his war
money therein TO pay the same
SIC. g. All persons having any Oithe claims gainst
the State Of California entitled to be funded 90 here
mater specified SHALL upon the presentation OF the
same to the Treasurer OF State, receive In exchange
therefor bond or bonds Of the etate Of California.
provided for In the first section OF this Act but no
bond shall be issued for lees sum than hve hun.
dred dollars nor for fractional parts OF hundred
dollars, but the Treasurer may issue certificates Of
such fractional parts not bonded. when sag eerun,
cate shall be transferable and entitled 70 be funded
as before provided The Treasurer shall endorse on
the back Of each claim so received and Iiquldated'
the date which he received the fame, ana rom
whom and the plumber Of the bond Issued 10 ex-
change therefor and such claim shall be MED In the
Ofhce Of the Secretary Of state. 80
Dgc g. For the payment within twenty yeare 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 same manner
as Is or lnny be provided by laW for ordinary State
taxes tax OF one and quarter cents on each one
hundred dollars Of the assessed value OF real and
personal property In the State and the iund derived
from this tax shall be set apart and applied excusVe-
y to the payment o. the interest on .ne D3ns ~
cipa Of said bonds and The faith OF the state OF Cal
0rnia Is hereby pledged for the payment, as nerein
provided, OF the bonds Issued py virtue OF .s Ae.
and the interest thereon and all moneys tnat may
be received by the State Of California from the Uni:
ted States Government on account OF tne CNh
Fund" 30 called, are hereby irrevoea6ly pledged 70
the payment Of the principal and Interest on the
bonds issued under this Act. Wlliui reIusal or
neglect by the Supervisors, or any other cancer, 10
levy or collect the taxes imposed BY this Act, 1aI
be q msdemeanor, and the person or persons con"
vcted thereof shall be removed from ONCE, ana pons
ished by fine not exceeding one thousand doaiars,
or by imprisonment In the County jail not exeeed.nR
six months or by both such hne eua imprisonmens.
SEc, T. Whenever on the nrst DAY OF keoruaTy OF
August in any year. there remains, amer 0e payment
Of the interest, as hereinbefoFe provided, snrpIus
Of ten thousand dollars or more, Il shall De me auy
Of the Treasurer TO advertise for the pace OF cns
week in one, daily newspaper, Pubishe0 IN EnsAAs
in the city OF New York, and for one menan " ene
daily newsPaper published IN snssn, IN a os me osS
after the expiration OF such publications, ~ ne
TreaSurer In presence OF the Governor or COntroHer'
at the State Capital for the surrender o. SCnus .,..
the amount Of nancy he has on hand Tor the paspose
OF redemption; and they shall accept me IoNest No
pOsals, at rates not exceeding par value e mXLe.
deem the greatest amount Of bonds until the aHcant
Of cash on hand for the redemption ie exneneted;
provided, however, In case q sutncient amcent OF
such bonds shall not be offered, - aloreeac, " eA
haust the Sinking Fund to . less amount than Ten
thousand dollars then II 10 hereby made the duy Of
the Treasurer to advertise In two neWnpepexes one
New York and one at the Capital OF thts ctate' Iox
three months, which advertisements shan state the
amount In the Sinking Fund and the nuHoef o.
bonds numbering them In the order Of hetr issuance
which such fund Ia ret apart TO pay ana olecnerg'
ment shah not be presented for payment ana caneO.
| latIon within three months from the expiradon o.
such publication, then such fund shan remam IN tne
| Treasury to discharge such bones whe0ever pre-
sented but they shall draw integest atter such
/
publication, as last Aforesaid.
SIC. 8. The Treasurer Of State shan keep fan and
particular account and record Of an hs proceeuAes
under this Act and Of the bonds redeemed and sur
rendered. and he shall transmit to the 1overnce "a
abstract OF all his proceedings under thie Act wtth
his annual report 70 He BY the & governor ,sc Cs.Css
TO the matter provided for in this Act shan % ai
times be open for the inspection Of oaV RaFU eeeE-
ested, or the Governor. or ne AtscEnsx Senssa or
Committee Of either branch Of tne Aeg's'asaTes~
| Joint Committee OF botA.
SIC II shall Be he duty Of tie Treasure. 70 PAy
the interest said bonds when the same 1sls Sne
out OF said Interest Fund, n suAAcieat; sd I'D
fund be not su1cIent tAen 70 pay tne SencencS 80
OF the General Fund provided that the ControAer
Of State shall 1rst draw his warrant On the Ireas.
urer nayabe to the order Of saldxfeaeureE, Sor eo
amount Of interest money shout 70 beceDe que,
which said interest warrant shaIl Be dreHn a. least
one month previous 70 the maturing o. S0s Ineeest
SEc 10. II shall be The duty OF the 1oveSner and
Controller while said bonds are being Issued 20 ex-
anime all claims received By the Treasurer - ASere'
said and cause the same 10 be registered and cancel.
ed In such manner as TO prevent tnem Tem pcAS ~
Sc II. The sCiioWinE are apeeTned - the Chains
which are entItled 70 be received and sunAed under
this Act:
First-Clvll bonds Of the StGte issued under the
fuudinR Acts passed In the years one tAouAuA egAt
hundred and dfty.one, enc thousand eagnt hundred
and Hfy-two, one thousand eight huudred @ ana my:
three ,one Thousand eight hundred and any ave a0d
one thousand eight hundred and Aty.six WhtcA are
nov outstanding with interest due on the same, wren
presented, rs appears by the coupons
Second Controllers warrants, drawn uu4ef SADc.
on Of law, for civil expenses prior 70 Januap nrst
A. d. one thousand eight hundred and nlty seven,
and now outstanding and unpaid. Hut wle fsovss:
Ions Of this Act shall not authorize he funding OF
any Of those warrants the regarauon ans enaoTse'
ment Of which Cancelled or required % 1e can.
ceed by the provisions Of An Act 70 cancel TIE Teg.
stration and Endorsement Of certain warrants, and
prohibiting the payment OF the same AprOve0 Sa1:
uarythIreth, A. D. one thousand eight hundred and
nfy-sIx, or warrants which have been specially ad-
Judged Illegal by any Courts and all said warrants
specified In the last mentioned ACT, are hereby ex.
pressly excluded from all the benedtS and provisions
Of ths Act
Third-Just OF legal claims agalnSs the STATE &C.
crued prior to January Arst, one thousand eight hum
dred and nfty- seven, and which have been or may
be allowed and audited BY Act OF the LeRl1lature.
And II the Treasurer Of State shall WlifuiIy issue
bonds upon claims not herein specified a. receivable
| It shall be deemed q misdemeanor, and he shall be
punished rs provided In section SIX OF es ACT, ana
| such bond shall bevold.
SEC 1e. The claims specified In this Act may be re.
ceved for funding, and bonds therefor may be Issued
pior to the first day Of January, one thousand eight
hundred and sixty-two, but not ahcrWard and al
claims not presented for funding prior to that time
are excluded FROM the provisions Of this Act, and
such blank bonds prepared under the provisions OF
this Act shall then remain on hand shall be des-
troyed In the presence OF tie Governor, Controller
| and Treasurer.
SEC 49, This Act shall take effect on the nrst day
| OF January, 4. D. one thousand eight hundred and
sS,yOne, as to al its provisions except those rela-
trr and necessary for Its submission to the peo
pie, and for returning, canvass ns ami proclaminh
| the VOTE which shall take effect Immediately.
SKc. IA. This Act shall be submitted to the people
NJ the State for their at the next general
election to be holden the Tuesday next after the
first Monday In November, one thousand eight hum
| dred and sixty ard the qualified electors OF the
State shall said election their ballots for State