The semi-weekly mountain Democrat., 1860-10-17
tBY AUTuORITYI


The People Of the State Of California represented In
Senate and Assembly, do enact aS follows:
SECTION !. For the purpose VI liquIdating, funding
and paying the claims against the State Of CslfOr.
MIA, hereinafter specified the Trea sureT Of State shall
cause 10 b~pFepased suitable boDds Of the State Of
California, not TO exceed the Of two hundred
thousand dollars, bearing interest 1T the rate Of
seven per centum per annum from the date Of their
Issue. payable at the once Of the State Treasurer,
on the first day Of July, one thousand eight hun.
dred aud eighty. The interest accruing on said bonds
shall he due and payable at the Oicc cI tie TreasuT.
e. OfState the irst day OF January and July Of
each year provided, that the FIRST payment Of In
teres shall Dc made before the rst day Of January,
one thousand eight hundred and SEty.twO. Said
bonds shall be signed by the Governor, and cOun-
/ tersiEned by the Controller and endorsed By the
Treasurer cf etste, and shall have the seal Of the
sEc. O. Coupons, for the Interest. shall be attached
to each bond 80 that they may be removed without
secnvely numbered, shall be signed by the Treasurer
OF State.
SIC. y. 1t shall be the duty Of the Treasurer and
Controller ~ State, each, to keep separate record
Of all auch!bOnds as may he issued ahoInR the mum.
Der, date and amount Of each bond and TO whom
the same was Issued, and upon what claim. and lts
amount and Of the claims herein specified shall
be llquldated or paid but Inthe manner herein pro-
vdcd.
SIC. ~ The sum Of one thousand dolsrs is hereby
NJ propriated, out Of any money IN tho Treasury not
otherwise appropriated, to pay the expense that may
be incurred ny the Trenaurer In having said bonds
prepared, but the Controller shaIl not draw his war
money therein 10 pny the sams,
SIC o. all pcr'ons having any of The Gle inns against
the State Of California entitled to he funded here
inaiter specified SHALL upon the presentation Of the
came to the Treasurer of State, receive Ia exchange
therefor bond bonds of the State ~ California
provided for In the first section tf this Art hut no
bond shall be issued for less sum than Ave hun.
dred dollars. nor Tot fractional parts of hundred
dollars, but the Treasurer may Issue certificates Of
such fractional parts not bonded, which sRh certlh.
rate >nll be- transferable nd entitled I" be funded
As before irovdCd, yhc Treasurer shall endorse
the back Of each claim received and iAIuidAtCd,
| the date which hc received tic same, aud from
| whu'n, and the number Of the bond issurd In ex-
change therefor, and such claim Shu be hied Ia the
rnlcc Of the Secretary uf State.
SCc d. For the payment within twenty years OF the
principal aud interest 81 the bonds issued under this
Act,hcrc shall he levied Annually until the bonds
pail, and promptly collected in The
| nS Is may be- provided 10y las E,r ordinary etats
tiNrs, tax nf nud quarter crniA on each one
hundred dollars Of tie assessed value Of reu and
personal property In the state; nrd the hrj derived
from this tax shH be set apnrt aud applied exclusive
" I" The payment OF the Interest an III" bonds here.
in provided, aud the final rr'lcup ion " uAe prn
cipa tf aiI bonds and the mill of the state Of Cal
urnia ~ htehy lodRed for the IaypleDt, as herein
provided, Of the bonds issued by virtue of this Act,
AID the interest thereon; aud AL moneys that may
hr received 10y the State Of California from the Uni.
I'd States Government on account of the Civil
FUND.- 20 called are hereby irrcVocItly pledged TO
the payment of the principal aud interest the
bonds Issued under this Act \ willful refusal or
neglect by the fupcrvisors, aiEy other officer. Ia
levy Collect the taNrs imposed 10y this Art, shall
he mitdcniennOr, and the person or persons
vlccd thereof snll he remO\ ed from Office, and pun
Slcd 10y a fine not exceeding Thousand dollars,
by imprisonment In the County jail not excHaalDg
six months or by both such fine and R,pFaehGseDt
SIC. :. Whenever, on the FIRST day Of February or
August In any year. there remains aneTS,e payment
Of the Interest. as hereinbefore provided, surplus
Of ten thousand doars more IL shall be tDe duty
Of the Treasurer to advertise for the space Of
week In one daily newspaper, published In English,
IN the city Of New York, and for one month N
daily newspaper. published IN English, at the Slate
Capital for scaled proposals To lee opened nIOaaiI
after the expiration of surh publications, by tbe
Treasurer. in presence OF the Governor ContT,lr
the State Capital, for the surrender uf bonds is
sued under this Act which advertisement shall state
the amount Of nancy IL: hns hand fnr tlc IAnpOOo
of redemption and they shah accept the lOwest pro-
posals, Mt rates not exceeding par value, Us mAy re-
deem the greatest amount OF bonds until the amount
uf cash ola hand for the redemption Is exhausted;
provided, however In case sufficient AmOWAt Of
such bonds shall not be offered, Aforesaid to ex-
haust the Sinking Fund to less amount than ten
thousand dollars, then II l. hereby made the duty of
the Treasurer to advertise In two newspapcra In
New York and one vt the Capital Of this State, for
three Innti,s winch advertisements shal state the
amount iu the Sinking Fund and the number Of
bonds, numbering them In the order Of their issuance
which such fund Ia set apart 10 pay and discharge
aud II such bonds 20 numbered In such advertise.
mcnt shalt not be presented for payment and eanevl
lnton within three months from the expiration Of
such publication then such fund shall remam IN the
| Treasury to discharge such bonds whenever pre-
sentcd, but they shall draw no interest after such
| publication. as last Aforesaid.
o.
particular account and record Of all his proceedings
under this Act, and Of the bonds redeemed and
rendered, and he shall transmit to the GeveFn0T an
abstract OF all his proceedings under tttls Act, With
his annual report To he by the GovernOr laid Aeiego
tie IegislRture and all books and pSperspertaianR
to the matter provided for In this Act shaA At I'll
times be open FOR the inspection OF any party tntsF
eseA, or the Governor, or the Attorney General
Committee OF either Of tho LeEislatune, or
| Joint Committee OF both.
sRc It shall be the duty Of the Treasurer 70 pay
the Interest Aald bonds when thu came faas due,
out Of said Jntercat Fund, n sufficient; enc M sah
fund be not snMernt, then to ray the deficiency out
OF the General Fund provided, mat the Controller
Of State ahan drst draw hlS Warrant the TreaS.
urer payable to the order OF idTrsaaurer, sor the
amount Of Interest money about to become due,
which said interest warrant shall be drawn ct least
one month previous TO the maturing Of the Interest
SEc. 10. It shall be She duty of the Governor and
Controller. while said bonds are being hsuea, TO- ex-
anime all claims received by the Treasurer aiOre
said, and the to be registered Rnd cancel.
ed In such manner MS tn prcvcut them irOln Neing
| issued or put In circulation.
Sic. II. The following specified dde claims
which are entitled to be received AMI funded under
this Act;
funding Acts passed In the years thousand eight
hundred and Afy\one, thousand eight hundred
and atty two, thousand eight hundred and any.
three, Thousand eight hundred and Any Ave, and
one thousand eight hundred and my six, which aro
now outstanding, with due on the same when
presented, as appears by the coupons.
Second Controllers warrants drawn unAs< sane.
ton Of law, fur civil expenses rIor tO January Hrst,
A. u. Unc Thousand eight luNdred and dfrS seven,
| aud now outstanding and Unpaid. llUt the prOvls-
Inns II Ihis Act shall not authorize the funding Of
any Of those warrants the registration mud endorse.
nlent Of which cAncee,Nor required to be can
cced by the provisions of An Act To cancel the reg
iS,rAtlnn and Endorsement " certain warrants aud
prohibiting the payment Of the same" approved Jau.
uRry rythireth, A. H. one thousand eight hundred and
ATTY six, ar warrants which have been specially ad.
Judged illegal by any Court; and allsaid warrants
specified In the last mentioned Act, hereby ex.
pressly eKcluied FROM all the bensfls and prOslslOns
| OF this Act.
TNIrl--Ju.t cr IsgaI elaims agalHtt the STATE &C.
crnr prior 10 January irat, thousand eight hun
drcd aud hfty-seI en-, and which have heen or may
BE- allowed ard audited by Act of the Legislature
And " the Treasurer OF State shall NSiIhullY Issue
bonds upon claims not herein specified receivable,
| v shall hr deemed II mI,sdrmcauCr, aud he shall he
| punished provided in section ak Of NAs Act, and
| such bond shall btvUid.
Src -. The claims specified in this Act mas he re-
r,ivcl for fuuIE, aud bonds therefor may he Issued
mior tn the Rrs day OF Iau,rtry. thousand eight
hundred and SiNty.wo, hut n"t aitrrward ard all
rnims not presented f"r funding prior to that tInse
ARE excluded fron The ir"N isionso of this Act, and
such hlauk bonds prepared under the prUvlstoHs Of
this Act shall then remain on hand shah be dee
troyr6 in the presence of tie Governor, ContrvllsF
| and Treasurer.
Src * TIis Aci ,hAn tnkc cNect on the hrst day
| Of January, \. u. nnc thousand eight hundred aud
sxty.onr, as Ia Its provisions except those rcA-
ting To- and necessary for Its submission to the HcO
| pie. aud for returning, canvass ng and nrOcAiminA
| the vote, which shall take effect immediately.
SWc. H. ThjS Act shall he submitted to the people
Of the State for their raiCcat"n at the general
| first Monday In November, onr thousand eight hun
| drcd mud sixty; ard the qualified clcctrtN Of the