Mountain Democrat. [volume] (Placerville, El Dorado Co., Cal.) 1854-1860, 1860-08-18
FRY ArTunpITv

paying the claims against the State Of California herein
after specified the Treasurer Of State shall cause TO b.
prepared suitable bonus Of the State " California not TO
exceed the sum Of two hundred thousand dollars bearing
interest at the rate Of seven per centum per from
Tie date OF their Issue, payable at the Office Of the Stale
Treasurer, the 1rst day July one thousand eight
hundred and eighty. The interest accrDg said bonds
shall be due and payable At the Office OF the Treasurer Of
State Oh the st day Of January and July Of each year
provided that the first yneut of Interest sha be made
dred aud sxtytWo. Said bonds shall be signed BY the
Governor and cOunersgned BY the Controller aud en-
dorsed by The Treasurer Of State and shall have the seal
Of the state affixed thereto.
SEC Z. Coupona for the interest," shall be attached to
each bond so that they may be removed without injury or
mutiatiOn 10 the bond Said coupons NUM-
bercd, shall be signed by the Treasurer OF state.
sEc D. II shall be the duty Of the Treasurer and Con-
roer OF state each to Keep separate record Of all such
bonds as may be issued showing the number, date and
amount Of each bOnd and to whom same was Issued
and upon what claim, and Its amount and none Of the
the mRnner herein provided.
Sac. I. The u thousand dollars Ia hereby ap
proprtaed, out OF any money In the Treasury not other
wise appropriated to pay the expense that may be incur
red BY the Treasurer In having said bonds
the Controller shall draw his on the Treasury
for this amount until there is money therein to puy the
same.
SEC. 3 All persons having any Of the claims against the
State Of California entitled TO he funded hereinafter
spcched shall upon the presentation o the same 10 the
Treasurer Of state receive In exchange therefor bond or
bonds Of the State of California, provId for Ia the Ors
section Of this Act but bond shall b. issued for less
than I'VE hundred dollars for fractional Darts Of
hundred dollars but the Treasurer ma issue ccrcntcs
Of such fractional parts not bonded, which said certificate
shall be transferable and entitled to be funded before
provided The Treasurer shall endorse the back Of
each claim so received and qudatCd the date which
he received the and from who the number Of
the bond Issued In exchange therefor and such claim
shall be filed In the Office Of the Secretary of State
SIC For the within twenty years Of the prin
cpA and interest vi the bonds issued under this Act
shall b. levied annually until the bonds paid, and
promptly collected IN the same er-fAAy b.
provided by Law for ordinary state taxes ajax Of and
oneauarter cents ON each hundred dollars Of the
stssed Alue VI real and personal Property in the STATE
and the fund derived from this shall be apart and
applied exclusively to the payment Of the ncrst the
honda herein provided aud the final reenttion OF the
principal Of said bonds and the faith u the state Of CALI
rna hereby ltge'l for the itayincu as herein pro-
ytd. of The bonds ssued by VIRTUE Of this Act and the
interest thereon and all that may he received by
thu state Of California from the United states Government
accUunt of the Civil FUND.- hereby
yotably pledged to the payment OF the principal aud
ttres Oh the bonds Issued under this Act wlul refu.
sal or neglect by the Supervisors any other officer.
levy collect the taxes imposed by this Act shall be
and the person or persons convicted thereof
shall be removed from Office, and punished by nne not
Exceeding on" thousand dollars or by imprisonment in
the County Jail NOT exceeding six months by bOt such
| hnc and imprisonment.
SIC = Whenever the G day OFF, bruary or August
In any year, there remains after the paymn the
rest Hs hcrGihbcorc provided surplus OF ten thousand
dollars it shall be tue duty Of the Treasurer to
advertise for the space of week in daily newspa.
per, published IN English In the cy of New York and Tor
one month in one daily newspaper, published English
IL" STATE Cauia fr sealed rropsaI. To be opened ore
Ino4ih bs-thv-
Tr a'nrrr in pres.nce Of the Governs Controller at
The State Capital for the surrender If bond, isurd under
this Act which advertisement shah STATE til" Of
man he ha. hand fer ;ie PURPOSE redemption and
they shall acc,p; the lowest PROPOSALS. n,
nH par value NAV redeem thu greatest oil bonds
unit the amount % cash on hand for the redemption is
entrusted; proy, j, however, in sufficient
Of such OnLd1 ssll ng' he offered afcrcsad exhaust
The sinking fund TO less amount Than ten THOUSAND dds
hrs then il hereby made the duty Of the Treasurer to
advertise in two n, wspaPers in NV York and
the Capital OF this State, for three MONTHS which avrr
tts2ntn hts -.a sttc thu the Sinking Fund and
the number of bonds. numbering thor" thu order Of their
issuance, which such fund is ,rt apart to pay and dts
charge and II tuc bunds Lunb ere in sCh
mcnt shall not be presented for payment mud cancellation
within three months from the tNprao OF such uublca.
trim then such fund shalt remain In the Treasury TO dis.
charge such bonds whenever presented, but they shnl
draw no interest ate" such publication As lat aforesaid
SEC y The Treasurer OF state shall Keep full aid
cuar account and record Of Nil his proceedings under
this Act and Of the bonds redeemed and and
lie shall transmit t" the Governor abstract Of all lis
proceedings under this Act with lis annual report b.
by the Governor laid brior" the Legislature and all book
and papers pertaining to The matter provide for this
Act shall at all times be open for the inspection Of any
party E.ere''rd the Governor, the Attorney Gene.
RAJ ar Committee Of either branch .! the Legislature or
( joint Committee Of both
SFc 1t shall hc the duty NJ the Treasurer to pay the
n,er on sad bonds when the falls due. OF sad
Ia"l's Fluid Il -uicen; aud II said fund be not sui!
cirrt then to ia. d'crcy OF tn General Fund
provided that the Controller Of state shall first draw h.
warrant ON the Treasurer payable to the order Of sad
Treasurer for III" amount of nercrt money about
come due. which said interest warrant shall he drawn n,
least month prcvnus the maturing of the interest,
SIC. Ia 1t shall he Ihc iriy % the Governor aud Con.
t0iltr Will. said bonds being issued examine all
'.!.. tetti,,d nv t,. Treasurer "A. - M. cause
'hc san. to he ;a,r and cancelled h manner rs
10 prevent them froT bng reissuri or put III circulation
SIC H. The following specified as the ciai'S which
arr cntilc to h. receive" md funded ujcr this Act
tr'i-Chil bond. % the State under the funding
Ncts passed in the years thousand eight hundred and
fhy.on., on" ih"usand light huiecl aud tfy two,
hH> eight hundred and aN three thousand eight
hundred and fifty Ave, and Thousand light hundred
and h''y-sx, which are rcw outstanding With interest du
IN tr mn" when Presented, appear hy the coupons
Sec"ni- Conr"l"rs Warrants drawn under sanction Of
Law Tor civil expenses rinr to January first, A. d.
Thousand eight hundred fifty and nutstand.
Ing aud unpaid. But The provisions VI this Act shall not
authorize the funding Of az those the regis
tra" and endorsement which were canoe led or reaui.
red I" he clncted by the provisions Of An cancel
thu registration and Endorsement OF certain warrants and
prohibiting the payment Of the same approved January
thireth, A. one thousand eight hundred and If six,
warrants which have been specially adudgcd Illegal by
any Court and all said warrants specified the last
onci Act are hereby expressly excluded FROM all the
ben hit and provisions of this Act
f'rd'u>' or heal claims 'glinst the statr accrued
prior to January first, thousand eight hundred and
NIFTY and which have been or may be allowed AID
audited ny Act Of the Legislature.
Aud if ih Treasurer State shall wiullY issue bonds
upon claims not herein spec hrd receivable /; shall
deemed misi,mean"r and h, Shall he punished pro.
'ried In section six this Act, and such bond shall be-
VOID.
SIC ~ The claims specified in this Act may he received
for nSng and bonds therefor may BE- lss,d to the
FIRST day Of January one thousand eight hundred and
sixy,wo hut afnrward and all CLAIMS not presented
for funding prior to th~ time excluded from the pro.
visions OF this act and SUCH blank bonds prepared under
the provisions Of this Act as shall then remain hand
shall he destroyed in the presence OF tie Governor Con-
| troer and Treasurer
|
January. thousand eight hundred md sixty
as tn its provisions those relating to and
sary for its submssln to the people and for returning
canvass ng aud proclab the vute which shall take ef
feet Immediately.
SEC H. This Act shall be submitted to the people Of the
state, for their raicaton at the next general election
to IL holden the Tuesday after the fret Monday
in November thousand eight hundred and sixty d
the qualified electors nf the State shall at said election
ON their ballots fur state officers, vote for against this
Act thos" voting for the shall write have printed
on their ballots the words Pay the Debt - aud those
voting against the shall write have printed OH
their ballots the words "Rcpudate the Debt"
SEC 10. The votes cast for aud against this Act shall be
counted, returned AMI canvaSsed, and declared In the
same manner and subject to the rules AS votes
for the Treasurer Of State and IL apprar that major
ty Of NIL the votes east for against this law,
said in favor Of this Act then the shall have ef
feet a. hcreinbefore provided, and shall be rrcpenah
until the principal and interest of the liabilities heFeiT
created shall BE- paid and discharged and Governor
shall make prNcla maton thereof hut II majority Of III,
votes 50 cast against this Act, then the shall be
com. void.
SIC To- shall be the duty Of the Secretary Of State Il
have this Act published in newspaper in each lGSa
District of this State II be pubhc therein, tOv
months next preceding the general eeiOn, be holder
upon the Tuesday next after the first Monday OF Novem
bur next for which publication greater allowance shall
he made than the rate. allowed " aE to the Stat
Printer.
sacramento, August !, 1SGl aulS.1e
HINTS TO THOSE WISHING