The semi-weekly mountain Democrat., 1860-09-19
sRY AuTHoRyTYi

to bepfepaPed suitable bonds OF the State Of
California, not 70 exceed the sum Of two hundred
seven per centum per annum from the date OF their
Issue, payable ct the oee Of the State Treasurer,
on the iTst day Of July, one thousand eight hun
dFed and eighty. The Interest accFung said bonds
shall he due and payable At the ONCE OF the Treasur
cT ofState on the first day OF January and July Of
each year provided. that the FIRST payment Of In
terest shall be made before the FIRST day Of January
one thousand eight hundred and siXty-tw0. Said
bonds shall be signed BY the Governor, and coun.
tersgned by the Controller and endorsed BY the
Treasurer Of State, and shall have the seal Of the
State affixed thereto.
SEC. g. Coupons for the interest, shall be attached
TO each bond 20 that they may be removed without
Injury mutllatlOn to the bond Said coupons con.
secutivey numbered, shall be signed by the Treasurer
OF etate.
spc. Il. 1t shall be the duty Of the Treasurer and
Controller Of State, EACH 10 keep separate record
Of all such.bOnds may be issued showing the
Der, date and amount Of each bond, and TO whom
the same vas Issued and upon what claim. and its
amouRt and none Of the claims herein specified shall
be hquhlated or paid but inthe manner herein pro.
VideA.
SIC. Z. ~ Sun Of one thousand dollars ia hereby
Appropriated, oW OF any money in the Treasury not
otherwise appropriate9 to pay the expense that may
be incurred BY the Treasurer IN having said bonds
prepared. but the Controller AAa not draw his
rant on the Treasury for this amounS until there 10
money therein TO pay the same.
SEC 8. All persons having any ofthe e1Rims against
the State Of California entitled 10 be funded as here
mater specified SHALL upon the presentation Of the
same to the Treasurer 81 State, receive in exchange
therefor bond or bonds Of the State Of California,
provided for In the FIRST section Of this Act but no
bond shall be issued for less sum than Ave hun
dred dollars, nor for fractional parts Of hundred
dollars but the Treasurer may Issue certificates OF
such fractional parts not bonded, which said certih
cate shall BE- transferable and entitled to be funded
as before provided The Treasurer shall endorse on
the back Of each claim so received and liquihated,
the date which he received the same, and from
whom, and the number OF the bond issued In ex.
change therefor, and such claim shall be filed in the
otiice Of the Secretary Of State.
sac 6. For the payment within twenty years 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 Ia the same manner
as is or may be provided by law for ordinary State
taxes, RtaX Of one and quarter cents each
hundred dollars Of the assessed value Of real and
personal property in the State and the fund derived
from this tax shall be set apart and applied exclusive
" the payment Of the Interest on the bonds here
in provided and the final redemption Of the ,rln.
cpal Of said bonds and the faith Of the State Of Cal
IiOrnIa II hereby ptedged for the payment herein
provided Of the bonds issued by virtue Of this Act
and the interest thereon: and all moneys that Ray
be received by the stats Of California from the CnI-
ted States COSOFnment account Of the Z" Civil
Fund" - called, are hereby rrsvocabiy pledged to
the payment Of the principal aud interest on the
bunds harmed under this AetA Willful- refusal
neglect by the Supervisors any other officer, to
levy collect the taxes imposed by this Act, shall
be u misdemeAnor. and the person or persons con-
Vlctcu thereof snail be removed from once. ana
ished by hne not exceeding one thousand dollars,
ur by imprisonment IN the County jail nat exceeding
six months or by both such fine and imprisonment.
Sac. 4. Whenever. on the first day Of February
August In any year, there remains. after the payment
Of the Interest hereinbefOre provided. \ surplus
of ten thousand dollars more, It shall be the duty
of the Treasurer to advertise for the space Of
week in one daily Newspaper, published in English.
In the city Of New York. AMI Tor one month In one
daily nrWspApcT published IN English. 1t the State
Capital for sealed propoS To BE- opened month
AFTER tile expiration Of such publications, ty the
Treasurer in presence Of the Governor Controller,
AZ the state Capital for the surrender Of bonds is
sued under this Act. which advertisement shall state
the Amount pf NANCY he has Land for the purpose
of redemption; and they shA accept the lowest pro-
pOsaIs at rates not exceeding par value as may re-.
deem the greatest amount OF bonds until the amount
Of cash on hAnc for the redemption 10 exhausted:
provided. however. In cas-" q sufficient amount Of
such bonds aAli not be offered as aforesaid, to ex
hauSt the sinking Fuhd 70 l.ss amount than ten
thousand dollars, then II Is hereby made the duty OF
the Treasurer to advertise in tNo Newspapers one in
New YORK and one at the Capital OF this State for
three mouths, which advertisements shall state the
AsaOunt in the s.nking Fund aud the nutnber Of
bonds numbering them In the order Of their Issuance,
which such fund IL set apart TO pay and discharge
and " such bonds 90 numbered in such advertise
ment ShAll not be presented for payment and cancel
iaiion within three months from the expiration Of
such publication then such fund shall remain IN the
Treasury to discharge such bonds Whenever pre-
senied, but they shAll draw no interest after such
SLc. s. TIE Treasurer OF state slAll keep full and
particular Account and record Of all his Ucttdngs
under this Act, aud 81 the bonds redeemed and sur.
rendered, and he shall transmit to the Governor an
abstract Of all his proceedings under this Act, with
his annual report to be by the Governor laid before
the Legislature and all boOks and papers pertaining
to the matter provided for In this Act sl.all HI all
times he open for the Inspection OF any party inter
esIed. OF the Governor. or the Attorney General or
. Committee Of either branch Of the Legislature, or =
Joint Committee ot both.
Snc II shall be the duty Of the Treasurer to pay
the Interest said bonds when the falls due.
out Of said Interest Fund, rufhcient; and If said
fund be not sufhcent then TO pay the deficiency out
Of the General FUND: provided, that the Controller
OF State shall hrsi drAw HE warrant On the Treas
ursT, payable tn the order Of aaidTreasurcr for the
amount OF interest money about Ia brcome due
which said in'eres warrant shall b. drawn At least
month previous TO the maturing OF the interest
SEr. TO- II shall he Nhe duty of the Governor and
Whe said bonds are being issued, to ex
anime all claims received BY the Treasurer ~ sforc
said, and cause the same to be registered and cancel
ed in such manner .. TO prevent them from being re-
Issued or put 10 circulation.
SLC. II. The following are specified as the claims
which are entitled to be received and funded under
this Act:
Fira-civn bonds Of the state Issued under the
Acts passed In the years one thousand eight
hundred and hhy-one, one thousand eight hundred
and 6py two, one thousand eight hundred and ATTY
three, one thousand eight hundred and hty.hve. and
one thousand eight hundred and hfty-aIx which are
nov outstanding, with Interest due the same when
presented, a. apPearA by the coupons.
SecOnd-COntr0lleT's warrants, drawn under sane.
tion Of lA~ for civil expenses prior to January 6rs
A. D. one thousand eight hundred and fifty seven,
and now outstanding and unpaid. But the provis.
ions Of this Act shall not authorize the funding Of
any of those warrants the registration and endorse
mrnt Of which were cancelled or required tO BE-
celed by the provisions Of An Act to cancel the reg
isirAtion and Endorsement Of certain waTranta and
prohibiting the payment Of the same, approved Jau
A. II. one thousand eight hundred and
r.. las,. k...x .stalIu "a
judged Illegal by any Courts and all said warrants
specified in the last mentioned Act, are hereby ex
presSy excluded from all the benefits and provisions
Oi this Act.
Third-Just or legal claims against the State ac-
crued prior to January FIRST one thousaDd eight hun
dred and ffty-seN en-, and which have been or may
be allowed and audited by Act Of the Legislature.
And u the Treasurer OF State shall willfully issue
bonds upon clAms not herein specified as receivable
II shall be deemed misdemeanor, and he shall he
punished provided in Section six OF this Act, and
euch bond shall Devoid.
FEC. 12 The claims specified In this Act may be re-
ceived for funding and bonds therefor may be issued
prior 10 the first day Of January, one thousand eight
hundred and Sixty-two, but not Gfterward and all
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.
Sac l8. This Act shall take effect on the first day
Of January, A. D. one thousand eight hundred and
sixty as to its provisions except those rela-
ting to and necessary for It's submission TO the peO
ple and for returning, canvass ng and prociaimInL
the vote, which shall take effect Immediately.
SEc II. This Act shall be submitted to the people
Of the State for their ratification at the next general
election, to be holden the Tuesday next after the
nrst Monday In November, one thousand eight hun
dred and sixty; ard the qualified electors Of the
State shall at said election their ballots for State
o6hcers, vote for against this Act those voting
for the shall write have printed their BAL
lots the words PAY the Debt !" and those voting
against the shall write have printed their
ballots the words " Repudiate the Debt"
SEC. Is. The votes cast for and against this Act
shall be counted, returned and canvassed, and de-