The semi-weekly mountain Democrat., 1860-10-27
fRY AlfTuoRITY1

10 brprUpuFed suitable bonds Of the State Of
California, not 70 exceed the sum Of two hundred
thousand dollars, bearing interest nj the rate Of
seven per eentum per Hnnum from the date Of their
lSsus, payable nt the once of the State Treasurer
IN the Arst dag 81 July one thousand eight hun
dred and eighty The interest accrung on said bonds
shall be due and payable At the ONCE Of the Treasur-
OfState the nrst 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 sxty-two. Said
bonds shall be signed by the Governor, and rOun-
tersigned BY the Controller aud endorsed by the
Treasurer Of State and shall have the seal VI the
Sac Q. Coupons, for the interest shall be attached
10 each bond so that they may he removed without
Injury or nutilatiOn TO the bond. Said coupons,
secuively numbered, shall be signed by the Treasurer
Of State.
Exc. \. II shall be the duty Of the Treasurer and
Controller Of STATE, EACH TO keep separate record
Of all such bonds may be issued, showing the num-
Der, date and amount Of each bond, and to whom
the same was Issued, and upon what claim, and its
amount; and Of the claims herein spec fled shall
be ligudated or paid but intlle manner herein pro-
Vidcd.
Ssc. T. The sim Of one thousand dollars Is hereby
appropriated out Of any money Inthe Treasury not
otherwise appropriated to pay the expense that may
be incurred BY the Treasurer In having said bouds
prepared but the Controller shall draw his war.
rant the Treasury for this amount until there Is
money therein to pay the same.
SEC. 5, All persOns having any ofthc claims against
the state Of California entitled to be- funded here
inaner specified shall, upon the presentation Of the
same to the Treasurer OF State receive in exchange
therefor bond bonds Of the State Of California,
provided for In the FIRST section OF this Act. but
bond shall be Issued for n lrss 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, which SAID ceTh-
cate shall he transferable and entitled t. he funded
as before provided. The Treasurer shall endursc on
the back Of each claim so received and lqudattd,
the date OIL which he received the same, aud from
whom, and the number Of the bond issued In ex-
change therefor and such claim shall be filed iu the
ONCE " the Secretary of State.
Sac. g. Por the payment within twenty years OF the
principal and interest Of the bonds ssu. undCT this
Act, there shall be levied annually until the bonds
are paid, aud promptly collected in the
as IL or may be provided by Law for ordinary State
taxes, tax Of and quarter cents each one
hundred dollars Of the assessed value Of real and
pcrs"nal property In tn state and the fund derived
from this shall be SIT apart and applied rSlusive
ly to the payment ~ the nterest the bonds here
In provided, aud the nnal redemption Of the prin
cipai Of sai bonds Hid the faith 81 the State Of CAL
ifnrnia il hereby pledged for the payment, AS heren
provided, Of the bonds issued by virtue nf this At,
AID the interest thereon; and all m"nct- that may
he received by the State u California from the Ci
ted States Government on account Of the Civ
Fund, 81 called, are hereby irrevocabiy pledged to
the payment Of the principal and interest the
bonds issued under tbs Act. wilfu refusal or
neglect by the Supcrvscrs, or any other "fcrr. to
levy collect the taxes imp"scd 10y this At, shall
he n n,islemcanor. and the person "r persons com
ViUtcd thereof shall be removed from ONCE and puns
ished by hne not exceeding one thousand dollars.
ny imp sohInent IN the C"uniy jail not exceeding
SiX months, or BY both such fine and imprisonment
SEr Whenever, on the first day OF February
August In any year, there remains after the payment
OF the interest as hcrrinGvfVre provided, surplus
OF ten thousand dollars more. shall he the duty
~ Tie TrrAslrcT o. advertise fer The space Of one
week Ia "ae daily newspaper, pLblislei in EnHli'l.
IN the city u New w \. aud fur one tHJiih In
daily n,wspapcr published IN kns!s., at tie State
Capital, for sealed proposals :" hr opened orc month
AucF the expiration Of suc', plbilratuIs. by Tie
Tn a. the. Cnurt.,lpF
al the State ,pt" Tor The surrender u bond, l..
sued under the Act which ah,er,'s lent siav STATE
the An"uht pf an"y h. !1s CA hand ~ the purpo,"
~ redemption and ~ y shall accept tn lowest pro.
puSas. at rates not ~ &c ling pr VhlTc, may
d-em the gi-Ai,L RiH"uft ~ brrds n the ar"lni
II cAs' ot h.t'! f1r The red mplton Is exhausted
proVritd. hlW''cT IA tasr SuGie.et Iat -
'urh h"nds shall net .r orrt i, as a'or sad, to cN
haust the Sinking Inud 'oa less a'.nurt than ;ru
thnuAand dollars. ten It IL hereby uad- the day ~
th- Tr, T." Altr,t.- ia tNu w,pA,vIs, III
New York AMI oi.e al tie Capital .; tts State. f,r
three months ~ll,i Advertisements sh,li state tlc
Arout; Ia tie S,nkinE fuii AID "r nuii.h'r ~
bends, nutbrine ,hcin ia - order ott'."ir issuance
WhiNh such fund ~ set apart t. pay anI sthatgC;
anl II mch bands 30 uu'rh-rtd IN su,h RdvcTti.e-
shAl! not he pre'-nted !or pa! ncnt and cancel
lston within three months fran the rNrif alton Of
such public alton then such fdnd shall remain in the
Treasury Ia d..chArse such bonds wheae,cr pre-.
sentcsl. but they shall ITa1 interrSt aner Sueh
puhlic aton. AZ last aforesaid.
Sra. \. The Treasurer Of state I.an Keep full and
ptFralNr AVauut ard VeroTd Of all his proceedings
under U,iS Act and of the bonds rt'icen.ed aud
rendered, ard Ice sh1 trtr,siit to the Go'tihvI A.
abstract nf all his proceedings under this Act. ~
HE annual rrI0Tt. To be by The Governor laid before
the I~gislt;utr. And all bonks and pSp-iN p"raniR
to The msttT provided foE n this Act >LAll at all
,inrs he "rcn for the inspection Of Ary parry inter
esr,i. tie tiovrrnrr, the Attorney tteLtrai,
Committee VI either brauch Of the Leg stature
Julnt Committee Of bath.
sec 3 u shall b. tho duty nf the Treasurer To- pay
the in,eress On sad bonds 1.n tie sane fall. tiu
~ Rtttt,t n aN,A n III
funl he not su cient then to ray the deficiency uut
OF the General Fund: provided. that the Controller
~ Slate shall fret draw hs warrant on the Treas
urcF. pay able 10 the order Of sidTrrAsurer for the
amount Of interes, money about To become due
vi leh SAID tneTeN warrant shall be drawn At least
one month previous to the maturing OF the interest
SEC IN. II shall be Ihe duty OF The Governor and
Controller. While SAID hoi de are beng Issued, to
anime all tAims received hy Tie Treasurer ~ afure
said and cause the sane to be registered aud cancel
Cd In such manner ~ to prevent them from being
Issued or put in circulation.
sE, II. The following are spc, ned ~ the claims
which are enti!ei TO be received and funded under
this Act:
Prst-Cnn bonds Of the State Issued under the
hunire'i and hfiy.one, one th"usaud eight hundred
and MY -tG", one thouSand eigLI hundred and fifty
three, one thousand eight hundred and tfy 1--WE, and
one thousand eight hundred and hhy' 'S'A, which are
"utPtRndinc, With interest due the SAue, when
pres ntcA. > appears by the coupons
Srcuud -Con;r"ller's warrants, drawn under sane
\. u. one Thousand eight hundred ard ff,y seven,
and n"w outstanding aud u pad. Hut the proVis
lens of ths Act shall not author &c the funding Of
any Of those warrants the registration and endorse
ment Of which we're Cancelled Vr required to be can.
reled by the provisions " An Act to cancel the reg
is;rA,"n aud Endorsement Of certain warrants, aud
prohibiting the pay ment Of the same" approved Jau.
uarythiTteIh. A. D. cne thousand eight hundred aud
nhy- six, warrants which have been specially All
iulGeI Illegal by any Court; and all said warrants
specified In the last mentioned Act, are hereby ex.
u. 4 4
Of this Act.
ThIrd-Just or l,gai claims against the STATE &C.
cr,rd prior TO January hrst 0nr thousand ight hum
drvd and nfty. .ScN and which have been or may
be allowed and audited by Act Of the Legislature.
And II the Treasurer OF State shall wi!ully issue
hon l. upon claims not herein specified recei gahr,
Il shall be deemed = misdemeanor. and he shall be
punished a. provided In section sax OF this Act, aud
such bond shall bevoid.
sac ~. The claims specified In this Act may be re.
ce'Ved for funding, aud bonds therefor may be iaSued
piur TO the FIRST day Of January, thousand eight
hundred and sXty-tuc, but not AftrTWArd and all
clains not presented for funding prior to that time
excluded FROM the provisions "f this Act, and
such blank bonds prepared under the provisions nf
this Act a. shall then remain on hand shall be des.
uoyed In the presence VI tie Governor, Controller
and Treasurer.
Sac. I8. This Act ,haI take effect on the first day
Of January, 4. n. one thousand eight hundred and
sxtyune, to all lta provisions except those rcla
ting to and necessary for its submission to the peO.
pie. and for returning, canvass ng and proClainnA
the vote, which shall take effect Immediately.
SEC. H. This Act shall be submitted 70 the people
Of the State, for their ratification the next general
election, to be holden the Tuesday next after the
nret Monday in November, one thousand eight hun.
dred and sixty; ard the qualified electors cf the
STATE shall, Al said efecTOn' On their haifuts fur SHe
officers, vote for against this Act those voting
for the same shall write or 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"