The semi-weekly mountain Democrat., 1860-10-10
,ay AI,TtI0nITvI

that purpose approved April 30, 1861
The People Of the State Of California, represented in
Senate and Assembly, do enact rs follows:
sETinS ]. Por the purpose Of llquidatIng. funding
aud paying the claims against the State 81 Califor-
MIA hereinafter specified the Treasurer of etate shall
Cause to brprepared suitable bonds OF the State Of
California, not to exceed the Of two hundred
thousand dollars, bearing interest at the rate Of
seven per centum per unnum from the date Of their
issus, payable at the Office OF the etRte Treasurer,
| 0n the first day NJ July, one thuusand eight hun
drcd and eighty The interest accruing said bonds
shall be due and payable at the Office Of the TTeasuT
| cr 0fStae on the hrst day Of January and July Of
each year proFided- that the first payment Of In
tcrest shall be made before the FIRST day Of January,
one thousand eight hundred and sixty-two. eaid
bond. shall be signed by the Governor. and conn.
tersigned by the Controller and endorsed by the
Trea ~ State, and shall have the seal Of the
| State affixed thereto.
sEc. 2. Coupons for tile interest, slail be attached
| to each bond ~ that they NAY be removed without
injury mutiiation to the bond. Said coupons, con-
ntivrly numbered, shall be signed by the Treasurer
| u State.
sEc. 3. 1t shall be the duty Of the Treasurer and
Controller ~ State, each, 10 keep separate record
81 all sncb bonds may be issued showing the
| ber date and amount Of each bond, and To whom
the was issued, and upon what claim, and its
amount and none Of the claims icrcin specified shall
be liguidatcd or pnd but btl'c mauner herein pro-
| vded.
Sg' 4. The sum NJ one thousand dollars Is hereby
appropriated out OF any money in tue Treasury not
otherwise appropriated, to pay the expense that may
| be incurred hy the Treasurer IN having said bonds
prepared but the Controller shall not draU his WAr.
rant oil the Treasury for this amount unth there 10
| money therein 10 pay the sanr.
SLc ,. All prr.on, having any of the claims against
the State ~ California entitled Ia he funded aE here
inakcr specified SHALL upon the presentation Gd ie
same I" the Treasurer nf STAT" rrrciyr u cxciHnge
| therefor n bond OnndS NJ me- S:aic Gf California,
provided for IN the first section ri this Act 5ut
| bond shall bc Issued for less than IVE bun-
dr"d dollars, foT fractional parts Of hundred
dollars, h1 the Trcnturer may issue certificates Of
such fractional part. not Lonc,l. which said cSrtih
cate -lall BE- TRANSFERABLE and untitled To be funded
NJ before provided The Treasurer shall crdoFSe on
| tlc hacL of each claim received and lkIuLlated,
the date ON which lr received the same, and from
| whom, and the number Of the bond Issued In ex'
change therefor and such claim sha be filed iu ihe
| uiiirc Of the Secretary OF ftatr.
| SEc 4. For the payment within twenty years q the
principal aud interest Of the bonds issued under dis
Acttlrrr shall b" levied annually until the bonds
1 are pail, and promptly collected IN the same manIcr
~ is nr may be- provided by aw for ordinary State
taxes, tax of 0nr and quarter cent? each
| hundred dollars of the assessed va. Of FcHi aud
personal property In the state and the fund drTiSed
from this tax SHALL be set apart and applied exclusive
~ To IA" payment nf the interest the bonds here.
IN provided. aud the final redemption Of the prtI
cipa Of said bonds, and te faith Of the State Of CAL
i'"rna is hereby pledged Tor the payment, ~ herein
p"vilcd, Of the bonds Issued by virtue Of this Act,
| ii n" interest thereon; aid all uuneys that may
| be perceived liv the State Of California from the Uni
| ted States Government ON account OF the :" CEu
und," - called, hereby rrcvncGtly pledged to
the paytueht- Of the principal and interest ebe
/ bonds issued under this Act A w;lful refusal or
ne -lect by the Supervisors, any other officer, to
levy collect the taxes imposed by this Act, sah
| he miStunranOr, and the person or persons con-
vctcI thereof shall be removed from Office, and nuu.
isicd by fine not exceeding one thousand dOlarR.
or by Imprisonment In the County jail not exceeding
| six months. or by both such fine aud imprsOnmcIA-
SEc. I. Whenever, on the first day OF February or
August In year. there remains, after the paynuuG
Of the interest, hereInbefOre provided, surplus
OF ten thousand dollars or more, II ehah be the duty
Of the Treasurer to advertise for the space OF one
week In one dany newspaper, published in EngIaf.
In the city Of New York and f,Jr one month in one
InI lie - unpr- mn i'm n
Capital Tor scaled proposals, 10 be opened one month
after the expiration OF such publications, ny She
Treasurer in presence Of the Governor Controller
ut the state Capital for the surrender OF bonds is
sued under this Act which advertisement shall state
the amount Of nancy I've has hand for the purpose
Of redemption and they shall accept the lowest pro-
pOsals, Mt raes not exceeding par value may re-
deem the greatest amount OF bonds until tho amount
Of cash Oh hand for the redemption Is exhausted /.
provided, however, In case sufficient amount 0f
such bonds shall not be offered, aforesaid, to ex
haust the Sinking Fund TO n less amount than ten
thousand dollars, then 1t Is hereby made the duty Of
the Treasurer to advertise In two newspapers. one In
New York nnd one at the Capital OF this State for
three months which advertisements shail state the
amount in the Sinking Fund and the number -
bonds numbering them In the order Of their ss uanOe,
which such fund il set apart to pay and discharge
aud II such bonds 80 numbered In such advertise
ment shall not be presented for payment and cancel
latun within three months from the expiration OF
such publication, then such fund shall remain In the
Treasury TO discharge such bonds whenever pre-
scented, but they shall draw interest after suck
publication. aS last aforesaid.
SEc s. The Treasurer OF State shall keep full ana
particular account and record Of all his proceedings
under this Act, and Of the bonds redeemed ana
rendered ana 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 NIL books and papers pertaining
to the matter provided for in this Act shall Mt al
times be open for the inspection Of any party inter
erted, or the Governor, the Attorney General,
Committee Of either branch Of the LegislatuFesOr
Joint Committee Of both.
sRc .. It shallbe the duty of the Treasurer tOpay
the interest on said bonds when the same falls due,
out Of said Interest Fund, II sufficient; and II sa6
fund he not sufficient then to pay the deficiency oui
Of the General Fund; provided, ihat the Controller
Of Statc shall first draw his warrant the 1Teas-
urCr, payable to the order Of sadTreasureF for the
amount OF interest money dbOut to become due
which SKID Interest warrant shall be drawn ut least
one month previous to the maturing Of the interest
| SIC. IL. II shall be tle duty Of the Governor and
Controller, while said bonds are being issued to
anime all claims received by the Treasurer as aS0re
SAID aud cause the to be registered and cancel
cd in such manner as to prevent them from being
issued or put in circulation.
| SKc II. The following IRE specified as the ,clalNl
which are entitled to he received and funded undeI
this Act:
Fi,st-Clvil bonds Of fe State issued under tn.
funding Acts passed in the years thousand. .eIglT
hundred nnd nfty-nne, Que thousand eight hundPet
aud two, one Thousand eight hundred and flity
three. one thousand eight hundred and nftylve, aDt
one Thousand eight hundred aud fty-stx, which are
now outstanding, with interest due the same SlieG
r presented, ms appears by the coupons
Sccond-Controlcrs warrants, drawn under sane
ton OF aw for civil expenses prior to January first
4. u. one thousand eight hundred and fifty seven
and now outstanding and unpaid. But the lpPOvS
i"ns of this Act shall not authorize the funding %
any Of those warrants the registration and endorse
ment OF which were cancelled required to be can
cCled by tn provisions Of An Act to cancel the Ag
isralnn and Endorsement Of certain warrants, ant
prohibiting the payment Of the same," approved JAu
rary thirtieth, A. ID. thousand eight hundred ant
hfty-sN, warrants which have been specially Ad
judged Illegal by any Court; and all said warrants
specified In the last mentioned Act are hereby ex
presy excluded from all the benefits and provision
Of this Act.
ThIrd-Just legal claims aRainst Ehe etGte no
crucl prior to January first, thousand eight hun
drcd and nny-se\ en-, md which have been or ma,
he allowed and audited by Act of the Legislature.
Aud If the Treasurer of State shall wfully isau
honlS u'on Clnms not herein specified as receivable
II shall he deemed msdrmcanOr, anil lie shall b,
punished provided IN section six UI this Act, ant
such bond shall bevol.
Src ~. The claims specified In this Act may be re
crved for funding aud hondS therefor mRy be issuel
wor to the first day Of January, Thousand egl.
Hundred and skty-two, hut not HfturwArd and al
claims not presented for funding prior to that tim
are excluded from the provisions Of this Act, AMI
such blank bonds prepared under the prov siOns q
this Act Ms shall then remain on hand shall be deS
trnyed In the presence Of tie Governor, COntFOll5
> and Treasurer.
Src, -. This Act shall take effect the first da,
Of January, \. y. one thousand eight hundred AM
sNty.onc as to al itSproyisinns except those reA
ting to and necessary for its submission to the pee
plc and for returning, canvHSs ng and pFoclAnlin
the vote, which shall take effect Immediately
SGc. II. This Act shall he submitted to the pcopl
OF the State fnr their ratification, ut the next genera
election, To he holden the Tuesday next after u
Grst Monday In November, on. thousand eight hun
dred and sixty; ard the qualified electors Of IN