The semi-weekly mountain Democrat., 1860-11-03
fRY AUTHoRITY.1

cans. to brnrcpared suitable bonIs of the State Of
California, not to exceed the SUN OF Two huhureu
thousand dollars, hearing Interest At the rae o.
seven per centum per annum from the date Of their
ISSUE, payable at the Office Of the state treasurer
| on the Hrst day Of July, one thousand eiYnt nun
dred and eighty. The interest accrung on sA1n Donu'
shall BE- due and payable at the office 81 the Treasur.
er ofState on the first day Of january ana JuIy OF
| each year provided that the hrst payment OF IN
terest shall bu made before the first day Of January
| one thousand eight hundred and sixty-tWO. saih
! bonds shall be- signed by the Governor, and cOun-
| tersiRned by the Controller and endorsed ny the
Treasurer of State, and shall have the seal oi the
| State aflxed thereto.
Syc r. Coupons for the interest, shall he attached
| 10 each bond that they may be removed without
injury or mutilaton TO the bond. Said coupons con-
sccutivey numbered, shall be signed by the treasurer
| Of State.
src 3. i, shall he the duty Of the TT, asurer anI
Controller Of State, each. tn keep separate record
Of all such bonds may he issued showing the mum
| her, date atd amount OF each bond, ana 10 Whnm
the same was issued and upon what claim. and ~
amount and none Of the claims herein specified shall
be liquidatrd paid but intlle manner herein pro-
| vded.
Sac 4. The sum Of one thousand dollars Is hereby
appropriated out Of any m"uey in the Treasury not
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 IL
| money therein to pay the same.
SEE. 5. All persons having any ofthe claims against
the State Of California entitled to be funded as here
matter specified shall, upon the presentation Of the
same 10 the Treasurer of State. receive ~ exchange
therefor bond or bonds Of the State Of California
provided for In the first section 0f this Act, but n"
bond shall be Issued for n less sum than hYe hun
drpd dollars. nor fpr fractional parts of hundred
dollars, but the Treasurer mny issue certhcAt's cI
such fractional parts not bonded which sad cer!h
cate rnll be tran frTabe aud entitled to he funded
49, before provided The Treasurer shall endorse on
the back Of each claim 80 received and lauhated.
the date which he received the same, and ir"in
| whom, and the number Of the bond issued In cx-
change therefor. and such claim n all be filed in the
n!ficr Of the Secretary Of State.
SEC G. For the payment within twenty years of the
principal and interest uf the boi's issued under this
Act there shall he levied annually Until the bonds
paid, and promptly collected IN the same manner
as is or may be provided by Law for ordinary State
taxes, tax Of one and one quarter cents Oh each one
hundred dollars Of the Assessed value OF real and
personal property in the state and the urd derived
from this shall be- set apart and applied exclusive
~ ta the payment Of the intrres! un the bonds here
In provided, and the iinal redemption Of the prln-
Cipa u sail b0nds, and the ia of TIT StI'e ~ cal
iiorna II hereby pledged for the payment, as herein
provided, u the bonds issued by virtue Of this Act
and the interest thereon: Anl all moneys that may
he received by the state Of California from the I'M.
ted States Government on account Of the " CiNi
fund," 81 called, are hrr'hy rrev"caby pledged !"
thP payment Of tho Tr'nrirEl and interest Oh the
bonds issued under this Act. wiliful refusal or
neglect by the Supervisors, or any other officer. 10
| levy collect the taxes hposed by this Act, shall
: be mi semt amor, aud the person or persons cun
vicel thereof shall be we'd from Office. and pun
ished ny fine not rxrcrdiug tit"u'aiid dclars,
or hy imprisonment n the County jail not cNccr ling
| six months, or by both such hhr and imprisonment
| SLr. = Whenever, oil the fret day Of February or
August in any year, there REMAINS a';rt the payment
Ut the interest," as hcrcihh"fUrc provided "a surplus
Of ten Thousand dollars or more. ii snail be the dlty
"f the Treasurer IL advertise for tl'r space OF ""
week in one daily newspaper, published III English,
| In the city Of New York and fer onr month il onc
iaily newspaper published in tngsl',ai tho stat
Capital. r scaled prop"-als 20 be- uprne ore rntti
| after the expiration Of such Publications. hy the
Trrasurrr, in presence 0f;'c G6vcfH0r or Controller
ut the state Capital for the surrender Of bonds is
sued under this Act which advertisement shall state
the amount Of nancy he has On hand III" purp"sc
of redemption and they shall accept the lowest lro-
posalS at rates not exceeding par value. ns' may r."
deem the greatest amount OF b"nhs until the amount
Of cash on hand for the redemption is exhausted
provided however IN sufficient amount oi
such bonds shall not be offered rs aforesaid, TO *
haust the Sinking Fund TO u less amount than Il II
thousand dollars, thcn 1t Is hereby made the ddty o
the Treasurer to advertise In two newspapers in
New York and at the Capital Of this state, II Z
three months, which advertisements shall state the
| amount in the Sinking Fund and the number oi
bonds numbering them In the order Of their
| which such fund IA set apart to pay and discharge
and II such bonds 50 numbered In such advertise
ment shall not bc presented for payment and cancel
lat0n within three months FROM the expiration al
such publication then such fund shall renain in The
| Treasury to discharge such bonds whenever pre-
eented, but they shall draw interest after such
publication. as last aforesaid.
SIC ;. The Treasurer OF state slnll keep full and
particular account and record Of all his proceedings
| uuutf tfls ART un1 III DoiuN ffuttNltH ana sur
rendered, and he shall transmit to u" Governor
abstract Of all his proceedings under this Att, with
his annual report to he by the Cow rnnr LAID before
the Legislature and all hooks and papers pertaining
10 the matter provided for in this Act shall ut all
times he open for the Inspection OF any party inter.
cstcd, the Governor, or the Attorney General or
Committee Of either branch OF the Legislature, u
joint Committee OF both.
SH o. It shall be the duty Of the Treasurer To pay
the interest said bonds when the same falls due,
out Of said Interest Fund, II sufficient and II said
Of the General Fund provided, that the Controller
Of State shall first draw his warrant on the Treas
urer payable to the order OF sadTreasurer for the
| amount Of interest money about TO become dur.
which said interest warrant shall be drawn at least
one month previous tO the maturing Of the interest
SEc. III. It shall b0 Shc duty of the tnvrrnor and
Controller, while said bonds being issued, to ex
anime oil claims received by the TREASURER as afore.
said, and the to be registered and
ed In such manner AS To prevent them from being re.
| isaued or put In circulation.
SIC. II. The following are specified as the CLAIM 8
which are entitle to be received and funded under
| this Act:
First-Civi bonds of the State issued under the
funding Acts passed in the wears one th"nsaii eight
hundred and fity.one, one thousand eight hundred
aud RNy two, one thousand eight hundred and fifty.
three, one thousand eight hundred and fifty five, and
one thousand eight hundred and hfy-siX, which are
now outstanding, with interest due o the same when
| presented, Hs appears by the coupons
| SecOnd-Contr0ller's warrants, drawn under sane.
tiOn Of law for civil expenses prior t. January FIRST
| A, y. one thousand eight hundred and fifty seven,
and now outstanding and unpaid. hut the provis
Ions of this Act shall not authorize the funding Of
any Of those warrants the registration aud endorse.
nent Of which we're cancelled or required to be can-
ceIed by the provisOna Of An Act to cancel the reg
istratOn and Endorsement OF certain warrants, and
prohibiting the payment Of the same" approved Jau-
uarythrteth, A. ID. one thousand eight hundred and
hfty six, warrants which have been specially ad.
Judged Illegal by any Court and all said warrants
specified In the last mentioned Act, are hereby eX.
pressly excluded from all the benefits and provisions
| Of this Act
! Thrd-Just or legal claims against the State ac.
crued prior to January FIRST thousand eight hun
| dred and nny.srN EN-, and which have been or may
be allowed and audited By Act Of the Legislature.
And II the Treasurer OF State shall willfuiy issue
bonds upon claims not herein specified receivable,
| II shall be deemed a nisdcmeanor, and he shall he
punished M provided in section six OF this Act and
such bond shn'l bCvoid.
SIC IL. The claims specified in this Act may be re.
ceived for funding and bonds thervfo NAV he issued
prior to the rst day OF January thousand eight
| hundred and sixty.two hut not aferwnrd and all
claims not presented for funding prior tU that time
are excluded from the provisions OF this Act, and
such hlnnk bonds prepared under the provisions Of
this Act Ms shall then remain hand shall he des-
trOvc'l IN the presence of tie Governor, Controller
| and Treasurer.
SEC. I3. This Act ,hall take effect on the first day
| OF January, \. D. one thousand eight hundred aud
sxty.one, AS to all Its provisions except those rpla.
ting to and necessary for Its submission to the peO.
pie and for returning, canvass ny and proclaininh
the vote, which shall take effect Immediately.
SEC. II. This Act shall be submitted to the people
OF the State for their at the next
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
stae shall at said election, on their ballots for State
ofhcers vote for or against this Act those voting
for the same shall write have printed their bal.
lots the words "Pay the Debt; :" and those voting
against the same shall write or have printed their
| ballots the words " RepudAte the Debt"
| FEC. 10. The votes for and against thia Act