Weekly Trinity journal., 1863-07-18
AN ACT
To PROVIDE BONDs FOR COMPILE.
(Approyed April II, 1858. ]

BONDS.
The People Of the State Of California represel IN Senate
d"d assembly, do enact as tolocS
Section l. For the purpose completing and furnishing
the state Asylum for the Deaf Dumb and Blind the Treas
er OF state shall to be prepared suitable bonds of
lhe state of California, bearing interest at the rateof
per cent. per annqm payable semi annually, on the first
uay OF January and the first day of July of each year
the Office of the Treasurer of State.
FORM or BONDS.
sec The said bonds shall be signed by the Governor
ana countersigued by the Controller and ndorsed by the
treasurer OF state and shall have the seal Of the state a
hAed thereto, and shall date from the first day of july A.
d. eighteen hundred and tytour, and be made payable
at the Office of the Treasurer within twenty years
after the date of their issue
COUPONS INTEREST
Sec j. The coupons for interest shall be attached to each
bod so that each one may be removed without injury
deaccmcut of the bond or the remaining coupons The
said coupons shall be consecuvey numbered and signed
by the Treasurer Of State and shall represent the semi
animal interest on the bond to which they attached
RECORD OF BONDS-AMOUNr TO re ISSUED.
sec The Treasurer shall furnish the Controller of State
with the number and amount of each bond prepared for
careful and correct record of the number and denomination
Of each bond issued under this Act the whole amount of
which bonds to be styled the Asyum Bonds shall not
exceed seventy five thousand dollars (s75O0O)
APPROPRIATION.
sec O. me sum OF seven hundred dollars is hereby ap
Popted from the tund arising from the sale OF the ASy
um londs to pay such expenses may be Incurred by
the Treasurer in the preparation of the said bonds.
TAX FOR PAYMENT or PRINCIPAL AND INTEREST.
sec D. For payment of the principal and interest of the
Asylum Bonds authorized by this Act there shall be
levied the first Monday in March A. D. eighteen hun
dred and siXtytour, and each year thereafter until the
interest and principal be fully paid an annual tax three
ourts of one per cent on each one hundred dollars of
value OF all the taxable property in this state which tax
shall be assessed and collected other State taxes and by
e treasurer OF State set apart IN fund to be designated
the Asylum Bond Redemption and Interest Fund, to be
applied exclusively to the payment Of the interest of the
Asylum Bonds, j" aud for the redemption of the same
ana the faith of the State of California is hereby pledged
Tor the payment herein provided Of the principal and
interest Of said Asylum Bopds"
ASYLUM FUND.
Sec l. Whenever the first day O January the first
ol J4y OF any year there remains in the Asylum Bond
ana redemption Interest Fund.- surplus of five thousand
uoaS' OF more ater the payment of interest as herein
provided it shall be the duty of the Treasurer of state to
advertise ten days in daily newspaper published in the
Guy ol sacramento and in one daily newspaper published
III the city Of San Francisco for sealed proposals. to be
opened one month after the expiration of the time of pub
caun, in presence of the Governor State Controller and
Treasurer, at the rcasurers Office for the surrender of
Asylum Bonds and tho advertisement shall state the
amount of moneys in the fund to be applied for the
dempou of the sad bonds and the lowest proposals for
par value as will redeem the largest amount Of bonds u
I'll the money III the fund is exhausted.
TREASURER To REPORT MoYTHLY
See g. The Treasurer of state shall keep full and par
render the same to the Controller monthly aud shall be
his duty to pay the interest the said bonds when the
same falls due, from the fund provided by this Act
NOTICE FOR BoNDs-rRoyIso
Sec, O. When this Act shall have been ratified by vote of
sha advertise twenty days in one daily newspaper pub
lshed in the city Of Sacramento and in daily ucwS
per published IN the city of san Francisco for sed pro
psa1s Tor The purchase of the whola OF any portion OF the
Asylum Bonds, and on the day named in the advertise
meni for opening said proposals they shall opened al the
ONCE OF tie Treasurer @! state, in pesonceoI the Governor
Controller and Treasurer and the bid for awarded to
q ist bidder; plo'rl that no hid SHAH be accepted
resented by the bonds bf for anil any portion Of bonds
issue under this Act Whh shall not be ds
pnsr of by bid as above provided, shall he sold ny ht
Treasurer of Sue with the approval of the Governor ana
Controller provided, that NO sale shall be made al more
than ten per discount upon theamount represented by
the bonds Sold with the interest which may be due ana
represented by coupons at the time of such sale; ana an
sales shall b. made for gold coin Of the United states a
the proceeds shall be set apart in the Treasury and consul
tute the d" Blind Asylum Building Fund"
ERECTION AND FURNISHING ASYLUM, ETC
SIC. TO- The Trustees Of the Deaf Dumb and Blind ASy
be filed in the Office Of the secretary of state snail con
tract upon suretes which shall be approved by the Gov
nrnor for the erection and furnishing OF the Asylum III
complete manner provided, 1t shall not involve more eA
penditPro than will Recovered by the amount realized on
the sale Of the Asylum bonds issued under this Act.
CLAIMS To BE CERTIFIED ErC.-PAYMENT OF.
Sec II. All claims for material, labor and charges IN
Cured in constructing and furnishing the Deaf Dumo ana
Blind Asylum, in accordance with the plans above men
toned shall be certified by the Board of Trustees and up
approval 10y the Board of State Examiners the Controller
of State shall draw his warrant for the amount Of such
claim in favor of the person persons to whom is due
and the Treasurer of state shall pay the same from the
Blind Asylum Buildiug Fund.
ACT SUBMITTED A VOTE AT THE ELECTION OF
SEPTEMBER, 1868 -
Sec r. This Act shall be submitted to the people OF the
State for ratification at the general election To pc he on
the FIRST Wednesday of September, A. D. eighteen hundred
and siXtythree and the qualified electors OF TINS Sale
will, said election, on their ballots for state oHlceIS
either for against this Act those voting Tor 'he
same shall have written printed on their ballots Tor Sale
officers, the words For Asylum Building Act anu
those voting against the same shall have written or printed
ON the ballots the words, Against Asylum Building Act
PROCLAMATION RESULT.
l3 The votes for and against this Act shall he can
vassed returned and declared in the same manner ANA
subject the rules votes cast for Treasurer OF
State and il it appear that majority of all the votes
and against this Act aforesaid are in favor OF the
same then it shall have immediate effect and the Cover
nor shall make proclamation thereof accordingly and the
Treasurer of state shall proceed above directed to pro
vide for the preparation and sale Of the bonds herein au
thorized but should majority be given against
~, Ngf tlautt hall he yll Land If n tt IA
PUBLICATION ny SECRETARY
Sec H. The secretary of State shall cause THIS Act TO De
published in newspaper in each judicial district II one
be uuhlished therein, throughout the State for three
months proceeding the first Wednesday Of september, A
eighteen hundred aud sixty three such rates of ADVERT
sing as are maintained by the papers in which the same
may published provided they do not exceed II rates
fixed for State printing
ia