The semi-weekly mountain Democrat., 1860-09-12
ny AnTnnafn1

Senate and Assembly, do enact ~ lolIows:
sEcTIoH I. ToF the purpose Of lIQuIdstng. funding
and paying the claims against the State Of callIOT
cause 10 beprepared suitable bonds Of the State Of
California, not to exceed the sum Of two hundred
thousand dollars, bearing Interest 81 the rate OF
issu, payable st the once Of the State Treasurer,
on the hrSt day Of July. one thousand eight hun
dred and eighty. The interest aeerung said bonds
shall be due and payable At the once Of the TreaSuT
eT ofstats on the nrst day Of January and July Of
eaeh year; provided. that the first payment Of In
terest shall he made before the hEs day Of January
one thousand eight hundred and slxty.two. Haid
bonds shall be signed BY the Governor, and coun.
Treasurer Of State, and shall have the seal Of the
State aGixed thereto.
sEc. Coupons for the interest, shall be attached
10 each bond 20 that they may be removed Without
Injury mutilation to the bond. Said coupons con-
secutvely numbered, shall be signed By the Treasurer
Of etAte.
SEC. .. It shall be the duty Of the Treasurer and
Controller Of Bate, each TO keep separate record
Of all suchib0ndS may be issued showing the mum.
her, date and amount Of each bond, and 70 whom
the same vas Issued, and upon what claim: and its
amount and none Of the claims herein spseeed shall
be liquIdated or paid but nthe manner herein pro-
vided.
sEc. 4. The sum Of one thousand dollars Ia hereby
appropriated, out Of any money In the Treasury not
otherwise appropriated 10 pay the expense that may
be incurred BY the Treasurer In having said bonds
prepared, but the Controller shall 0Ot draw his
TAut on Tue treasury tOf TINS amount until mere 10
money therein TO psy the same.
eEc. B. All peTsOnS having any Ofthe claims against
the etate Of California entitled TO be funded as here
mater specified shall, upon the presentation Of the
same TO the Treasurer Of STATE receive In exchange
therefor bond or bonds Of the etate Of California
provided for In the FIRST section Of this Act, bat
bond shall be issued for less sum than eve hun
drsd dollars. nor for fractional parts Of hundred
dollars, but the Treasurer may Issue certificates Of
such fractional parts not bonded, which said ceTti
cate shall be transferable and entitled to be funded
As before provided. The Treasurer shall endorse on
the back Of each claim 20 received and lquidated,
the date on which he received the came, and from
whom, and the number Of the bond issued In ex-
change therefor, and such claim shall be led In the
ONCE Of the Secretary OF Bate.
eEC. g. 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 In the same manner
as Is or may be provided BY Law for ordinary State
axes, tax 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 shalt be set apart and applied exclusive
y to the payment Of the Interest on the bonds here
In provided, and the hnal redemption Of the prn-
cpal Of said bonds and the faith Of the State Of Cal
Ifornla Is hereby pledge for the payment herein
provided Of the bonds Issued By virtue Of this Act
and the interest thereon; and all moneys that may
be received Ly the State Of California from the uni
ted States Government on account OF the Civil
Fund.- ~ caied, are hereby iFTgv0cubiy pledged to
the payment Of the principal and interest on the
bonds Issued under this Aet.-AW WIllful refusal or
neglect BY the supervisors, or any other Ofcer to
levy collect the taxes imposed BY this Act, shall
be . misdemeanor, and the person or perAona con.
viceh thereof shall be removed from ONCE and puns
ished by fine not exceeding one thousand dollars.
or BY imprisonment in the County ail not exceeding
six months, or By both such 0ne and imprisonment.
SIC. 7. Whenever, on the nFst day Of February or
August In any year. there remains, aeT the payment
Of the interest. ~ herenbeiore provided, surplus
Of ten thousand dollars or more, shall be the duty
of the Treasurer to advertise for the space Of one
week In one daily Newspaper, published In English,
In the city Of New York, and for one month IN one
daily newspaper, published In English, at the state
after the expiration OF such publications, by the
Treasurer, In presence OF the Governor Controller
at the State Capital, for the surrender Of bonds Is
sued under this Act. which advertisement shaii state
the amount Of nancy he has on hand for the purpose
Of redemption and they shall accept the lowest pro-
pOsAis atraes not exceeding par value, as may re.
deem the greatest amount Of h0ads until the amount
Of cash on hand for the redemption 10 exhausted
provided, however, IL case q suGicient amount Oi
such bonds shall not be offered, as Aforesaid to ex
haust the Sinking FUND TO less amount than ten
thousand dollars, then II Il hereby made the duty OF
the Treasurer to advertise In two newspapers, In
New York and one ct the Capital Of this State, for
three months, which advertisements shall state the
amount In the Sinking Fund and the number Of
bondS, numbering themn the order Of their issuance
which such fund Ia set apart 70 pay aud discharge
and II such bonds 90 numbered In such advertise.
ment shall not be presented for payment and cancel
lsiiOn within three months from the expiration Of
such publication, then such fund shall remain In the
Treasury to discharge mach bonds whenever pre-
sented, but they shAli draw no Interest after such
publication, as last Aforesaid.
eEc g. The Treasurer Of State shall keep full and
particular account and record Of all his proceedings
a1der this Act, and Of the bonds redeemed and
rem iered and he shall transmit 70 the Governor an
abstract OF ali hIs proceedings under thIs Act with
his annual report to be by the Governor laid before
the Legislature: and al books and papers pertain
to the matter provided for In this Act shall vt oil
times be open for the inspection Of any party inter
ested, or the Governor, or the Attorney General.
Committee Of either branch efyhe legislature, or
Joint Committee OF both.
the interest said bonds when tAe same fails due
out Of said Interest Fund, " suGicient and 70 said
fund be not sudcent tAen 70 pay the deficiency out
Of the General Fund; provided that the Controller
Of State shall first draw his warrant the Treas
urer, payable 70 the order Of sadTfeasurer, for the
amount Of interest money about TO become due.
which said interest warrant shall be drawn at least
one month previous 10 the maturing Of the interest
SIC. 10. II shall be the duty Of the Governor and
Controller while said bonds are being Issued, TO ex-
anime all claims received BY the Treasurer afoFe.
ed In such manner - to prevent them from being re-
issued or put In circulation.
SIC. II. The following are specified ~ ue claims
which are entitled to be received and funded under
this Act:
Pirst-Civil bonds Of tho State Issued under the
funding Acts passed In the years thousand eight
hundred and 1hy.one, one thousand eight hundred
three, one thousand eight hundred and my five, and
thousand eight hundred and Aity.slx, which are
outstanding, with Interest due the same, when
presented, as appears BY the eoupeas.
Second-CsHtrOner's warrants, drawn under sane.
ton OF law, for civil expenses prior 70 January Ars
A. D. one thousand eigAt hundred and nfty seven,
and now outstanding and unpaid. But the provls.
Ions Of this Act shalt not authorize the funding OF
any OF those warrants the regisFAtlon and endorse
ment Of which we're Cancelled or required to be can.
celed by the provisions Of" An Act 10 cancel the reg
is;rniOm and lnd0rsement OF certain warrants, and
prohibiting the payment Of the same" approved Jau.
uarythTtieth, A. d. one thousand eight hundred and
fty.sIx, or warrants which have been specially ad
judged illegal BY any Courts and ell said warrants
specified In the last mentioned Act, are hereby ex
pressly excluded from OH the benefits and provisions
Of this Act.
Third-Just or legal claims against the State &C.
crued prior to January nrSt thouGand eight hun
dred and nny.seN en-. and which have been or may
be allowed and audited by Act Of the Legislature.
And II the Treasurer Of State shall wilfully Issue
bonds upon claims not herein specified Aa receivable
It shall be deemed = mlSdemcanoF, and he shall bG
punished a. provided In section six OF this Act and
such bond shall bevoid.
Sac 12. The claims specified In this Act may be re
ceved for funding, and bonds therefor may be issued
prior to the first day Of January, thousand eigh
hundred and sixty-two, but not aiteFward and al
claims not presented for funding prior to that iimC
are excluded from the provisions OF this Act, and
such blank bonds prepared under the provisions o
this Act shall then remain hand shall be des
troyed la the presence Of tie Governor, Controller
and Treasurer.
snC. l8. This Act shall take effect on the nrst DAY
| Of January, A. D. one thousand eight hundred ant
sixty0ne, as TO AL ita provisions except those reln
ting to and necessary for its submission to the peO
pie, and for returning, canvass ng and proclainlinl
the vote, which shall take effect Immediately.
eEc. II. This Act shall be submitted TO the people
Of the State for their racatIOn 1t the next genera
election, to be holden the Tuesday next afer IN,
FIRST Monday in November, one thousand eight hun
dred and sixty and the qualified electors Cf thu