The semi-weekly mountain Democrat., 1860-09-05
tDY AIfTU0RITyI


Tie People OF the State Of California presented In
Senate and Assembly, do enact rs follows
SEcTiOS ]. For the purpose Of liqudatng, funding
and paying the claims against the State Of CafOT-
MIA hereinafter specified, the Treasurer Of State shall
cause tO brpreparcd suitable bonds Of the State Of
California, not to exceed the NJ two hundred
thousand dollars, bearing interest ut the rate Of
seven per centum per annum from the date Of their
issu, payable at the office Of the State Treasurer,
on the first day Of July, one thousand eight hun
drcd and eighty. The interest accrung ON said bonds
shall be due and payable at the office RI the Trcasur
or OfState Oh the first day Of January and July Of
each year: provided. that the first payment Of in
tcrest shall be made before the first day Of January,
one thousand eight hundred and sixty-twO Said
bonds shall he signed by the Governor, and cOun-
tersigned by the Controller and endorsed by the
Treasurer OF State, and shall have the seal u the
State Affixed thereto.
SEC. 2. Coupons, for the interest shall be attached
to each bond so that they may be removed Without
injury 0r mutaton TO the bond. Said coupons, CON
secutivey numbered shall be signed by the Treasurer
OF State.
sEc. y. 1t shall he the duty Of the Treasurer and
Controller Of State, each, TO keep separate record
Of all such bonds may hc Issued showing the num-
her, date and amount Of each bond, and to whom
the same WAS issued and upon what claim mud Its
amount and none Of the claims herein specified shall
be lguidsted or paid but Inthe manner herein pro-
vided.
SEC. 4. The sum Of one thousand dollars is hereby
appropriated. out Of any money In the Treasury not
otherwise appropriated TO pay the expense that may
prepared. but the Controller shall not draw his
rant Oh the Treasury for ts amount until there Ii
money therein TO puy the same.
SEC. o. All persOns having any OF the claims against
the state Of California entitled 10 be funded here
inafcr specified shall, upon the presentation Of the
same TO the Treasurer 0f State receive In exchange
therefor bond or bonds Of the staie Of California,
provided Tor In the first section Of this Act, but
bond shall be issued for less sum than Ave hun
drcd 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
rs before provided. The Treasurer shall endorse on
the back Of each claim 20 received and lquidated,
the date on which he received the same, and from
whom, and the number 0f the bond issued In ex-
change therefor and such claim shall be filed In the
ONCE OF the Secretary Of State.
SEc. g. For the payment within twenty years OF the
principal and interest Of the bonds issued under this
ct,there shall bc levied annually until the bonds
paid, AMI promptly collected In the same manner
as " or may he divided by law for ordinary State
taxes, tax Of one and quarter cents each one
hundred dollars Of the assessed value Of real aud
personal property In the STATE and the fund derived
from this tax shall he set apart and apped Exclusive
~ to the payment Of the interest the bonds here
in provided, and the final redemption Of the prln-
cpal Of said bonds, and the faith ~ the State Of CAL
fornia is hereby pledged for the payment herein
provided. ri the bonds issued by virtue of this Act,
and the interest thereon; and all moneys that maj
be received by the State Of California from the Uni.
ted States Government on account Of the "CiviI
Pund, 50 called, hrc hereby IrrcvOcabIy pledged to
the payment Of the principal and interest the
b0tlds Issued under this Act willful refusal or
neglect by the Supervisors or any other officer. to
levy or collect the taxes imposed by this Act shall
be ntsdcmrAHor and the person or persons con-
victcd thereof shall be removed from Office aud nun.
ished by fnc not exceeding one thousand dollars,
or by imprisonment In the County jail not exceeding
six months. or hy both such fine and Imprisonment.
sEc. !: Whenever, on the first day Of February or
August In any year. there remains after the payment
OF the interest. as herenbefore provided, surplus
Of ten thousand dollars more II shall be the duty
OF the Treasurer to advertise for the space NJ one
week In one daily newspaper, published In English
in the city Of New York, and for one month In one
daily Newspaper pubished- la Engisl, the State
Capital for scaled proposals. tn be opened month
after the expiration Of euch publications. by the
Treasurer in presence NJ the Governor or Controller
AT thc state Capital for the surrender Of bonds 4
sued under this Act which advertisement shall state
III" amount ~ Nancy he has on hand for the purpose
~ redemption and they shall accept the lowest pro.
posals. at rates not exceeding par Yaluc, nay re.
deem the greatest amount o bonds until the amount
"f cash on hand for the redemption Il exhausted
provided, however, In case Sifiicicni amount of
such bonds shall not be offered M aforesaid to cN.
haust the sinking fGnd to a less amount than ten
Thousand dollars then it Ia hereby made the duty OF
ne Treasurer to advertise In two newspapers, one In
New York and one at the Capital Of this State, for
tire" months, which advertisements shalt state the
amount In u: Sinking Fund aud the number Of
b"ds numbering them IN the order Of their Issuance,
which such fund Is set apart to pay and discharge
and II such bonds 40 numbered in such advertise
mcnt shA not b" presented for payment and cancel.
lniion within three months from the expiration Of
such publication. then such fund shall remain In the
Treasury to discharge such bonds whenever pre-
acn,cd, but they shalt hraw IN interest after such
publication. ~ las. aforesaid.
p SEc :. The Treasurer of State shall keep full and
particular account and r"rnId ~ al; his proceedings
under this At, and 0f the bouds redeemed and sur
rendered. and he shall ransi!t to the Governor nm
abstract o. all hs proceedings undcr this Act, with
Lis annual report, 10 be by the ovrrnnr laid BE- fore
the legislature; AMI al books aud papers pertaining
TO the matter provided for in this Act shall at ail
times be open for the inspection of nny party inter-
ested. the Governor. or the Attorney General or
Committee Of either branch of the Legislature or
joint Committee nt both
SIC . 1t shall be the duty of the Treasurer to pay
the interest on said bonds When the same falls due.
out %; sad Interest Fund. II sufficient; and II said
fund b" not sufficient then to ray tho deficiency out
"f the General Fund; provided, that the Controller
"f State shall nrst draw his warrant on the Treas
urtr, payable to the order OF saidreasurer for the
amount 81 interest money about to beromc due,
which said interest warrant shall he drawn at least
one month previous to the maturing Of the interest
Sac u" II shall be 1le duty of the Governor and
Controller while said bonds are being issued, to ex-
anime all claims received by the Treasurer as aurc.
tai and cause the same TO be registered and cancel.
ed in such manner MS to prevent them from being
issued or put IN circulation.
SFc II. The following nre specined as the claims
which are entitled to be received and funded under
tha Act
Frst-civ bonds Of the State issued under the
funding Acts passed in the years thousand eight
hundred and fifty cone, one thousand eight hundred
and hfty-two, one thousand eight hundred and fifty
three, one thousand eight hundred and nfty-fve and
one thousand eight hundred and ifty-sx, which are
now 0utpRnding, with interest due on the same when
presented, as appears by the coupons.
Second controllers warrants, drawn under sane.
ton OF law for civil expenses prior to January first
A. D. one thousand eight hundred ard GHty seven,
and now outstanding and unpaid. hut the prOvis
Ions Of this Act shall not authorize the funding Of
any OF those warrants the registration and endorse
ment OF which were Cancelled required to be can
cced hy the provisions Of An Act TO cancel the reg
isirniinn and Endorsement Of certain warrants and
prohibiting the payment of the same approved Jau-
uaTythirtich 4. ID. one thousand eight hundred and
hhy.six, or warrants which have been specially ad.
judged illegal by any Court and all said warrants
specified In the last mentioned Act are hereby ex-
preesly excluded from all the benefits and provisions
Of this Act.
Third-Just or legal claims against the State &C.
crucd prior to January first, thousand eight hun
dred and hfy.seN en-. and which have been or may
be allowed and audited by Act Of the Legislature.
And II the Treasurer Of State shall wlfuIly issue
bonds upon claims not herein specified MS
II shall he deemed a misdemeanor, and he shall he
punished ~ provided In section six OF this Act and
such bond shall bevold
SEC. l2. The claims specified In this Act may he re-
cciycd for funding, and bonds therefor may be Issued
prior to the first day Of January one thousand eight
hundred ana siXty'two, but not Afterward and all
claims not presented for funding prior to that time
arc excluded from the provisions Of this Act, and
such blank bonds prepared under the provisions Of
this Act as shall then remain hand shall be des.
troyed in the presence OF the Governor, Controller
and Treasurer.
SIC. l3. This Act shall take effect on the first day
OF January, A. d. one thousand eight hundred aud
sSty.one, rs to M its provisions except those rcl-
ting to and necessary for its submission to the peo.
pie, and for returning, canvass ng and proclainnk
the vote. which shall take effect Immediately.
SIC. II. This Act shall be submitted tn the people
Of the State, for their ratification, Mt the general
election, to be holden the Tuesday next after the
first Monday In November, one thousand eight hun.
dred and sixty; ard the qualified electors OF the
AAtA aN,a A.NA sAat- kan. .