Weekly Trinity journal., 1863-08-08
AN ACT
'TO PROVIDE BONDS EOR COMPILE
UtaI, Dumb aud Bllnd AsN Iuih,
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The People Of the State Of caona reprcse'ei in Sm4e
and assembly, DO enact as toiiJws:
Section l. For the purpose completing and Furnishing
the state Asylum for the Deaf Dumb and Blind the Treas
OF State shall to be prepared suitable bonds of
the State of California bearing interest the ratcor
per cent per aunum payable semi annually the first
day OF January and the first day of July of each year. AZ
the Office of the Treasurer of State.
Sec The said bonds shall be signed by the Governor
and coupsrsgncd by the Controller and dorscd by ths
Treasurer of State aud shalt have the seal o the State al
fixed thereto and shall date from the first day of July ~
eighteen hundred and sixty tour and be made payable
the office of the Treasurer Of state within twenty years
after the date Of their issue.
COUPONS
Sec g. Tho coupons for interest shall be attached to ca
bond that each one may be removed without injury
dencemcnt of the bond the remaining coupons. The
said coupons shall be consecutyely numbered and s
by the Treasurer OF state aud shall represent the mi
annnal interest the bond to which they attached.
RECORD noNDs--ANoUNT To EG ISSUED.
Sec. T. The Treasurer shall furnish the Controller Of state
with the number and amount of each bond prepared
issue and each OF the above named o1cer' Shall kccpH
careful aud correct record of ha and denomination
of each bond issued under this Act the whole amount o
which bonds to be styled the Asylum Bonds shall not
exceed seventy i've thousand dollars $50 Q0J)
APPROPRIATION
Sec g. The Of hundred dollars is ber'by ap-
propated from the fund arising from the sale of the A,y
um Bonds to pay such expenses may be incurred by
tho Treasurer In the preparation OF tho said bonds.
TAX ron PAYMENT or PRINCIPAL AND lNrrn.r
Sec For payment of the principal and incrst OF tbN
As yium Bonds" authorized by this Act there shall ha
levied on the first Monday IN March A. u eighteen hun
interest aud principal be fully paid annual tan Of three
ourths of per cent each one hundred dollars Of
value of all the taxable property IN this state Wh'h tax
shalt be assessed and collected as other state Ns and 10y
the Treasurer of state set apart fund to D designated
applied exclusively to the payment of the interest at the
Asylum Bonds aud for the redemption Of ia. same
and the faith of the state of California is hereby pledged
for the payment as herein provided, of the principal aud
interest Of said Asylum Bonds"
SURPLUS IN ASYLUM FUND.
Sec Whenever, the first day Of january the first
OF July OF any year there remains the Asylum Bond
and Redemption Interest Fund @snrus of i've thousand
dollars or more after the payment OF interest herein
provided II shall be the doty Of the Treasurer Of state to
advertise ten days in daily newspaper published in tho
city of Sacramento aud IN one daily newspaper published
in the city OF san Francisco for sealed proposals TO be
opened month after the expiration Of the time of putt
loaton In presence OF the Governor State Controller and
Treasurer at the Tcasurers Office Tor the surrender OF
Asylum Bonds and tho advertisement shall state the
amount Of moneys In the fund to be applied for the
dempton Of the SAID bonds and the lowest proposals for
surrender shall be accepted at such rates not exceeding
I'll the money In the fund is exhausted.
TREASURER To REPORT MONTHLY
See 8. The Treasurer of State shall keep fu and par
tcular Of interest paid and bonds redeemed and
render the to the Controller monthly aud 1t shall be
Same falls due, from the fund provided by this Act.
NOTICE FOR SALE Oh B0Nps-rRoyiso.
Sec When this Act shall have been ratified by vote or
the people hereinafter provided the Treasurer of state
shall advertise twenty days in one daily newspaper pub
lshcd in the city of sacramento aud IN daily newspa
per published the city of San Francisco for sealed
posas for the purchase of the whole any portion of the
Asylum Bonds, and on the day named In the advertise
mcnt said proposals sa bc opened M h'
office Of the Treasurer VI state in presence ct the Governor
Controller aud Treasurer and the ti or agao 40
the highest bidder provided That no bid SHAH be el@ed
at than ten per cent discount upon the amount rep
resented by the bonds bid for and any portion al bonds
authorized to issue under this Act which shall not be dis
posed Of by hid above prov ied shall he sold by thH
Treasurer Of State with the approval of the Governor aud
Controller provided that sale shall be made at NOR
than ten per cent discount upon the amount rp ued by
the bonds sold vhh the interest which may be due an
represented by coupons at the time of such sale and al
sales shall bc for gold coin Of the tnited States aui
tute the - Blind Asylum building Fund"
ERECTION ASD FURNISHING AsYIuA,
Sec 10 The Trustees of the Deaf Dumb and Blind Asy.
um upon approved plans and specifications which shall
be filed in the office of the secretary OF state sh con
tract upon surees which shall be approved hy tho Gov
ernor for the erection and furnishing of the Asylum i
oompete manner provided, shall not involve more >
the sale of the Asylum bonds issued under this Act.
CLAIMS 10 III CERTIFIED gTC.--pAYMENT OF
Sec. IL. All claims for material labor aud charges h-
Cured constructing aud furnishing the Deaf, Dumb and
Blind Asylum, in accordance with the plans above men
toned shall BE- certified by tho Boardot Trustees an up
approval by the Board of state Examiners tho tonrl
Of State shall draw his warrant for the amount of such
the Treasurer of state shall pay the from ,he
Blind Asylum Building Fund.
ACT TO BE SUBMITTED TO VOTE At THE ELECTION of
sEPrENER, 1868.
Sec l2 This Act shall submitted to the people OF tho
Slate for ratification at the general election I" no ho1 q"
the first Wednesday OF September A. d eighteen hundred
and sixty three and the qualified electors OF this state
WILL at said election on their ballots for state oince1'
either for against this Act those voting ff tho
shall have written printed their baots for STATE
officers the words For Asylum Building Act" ant
voliug against the shall have written printed
the ballots, the words, against Asylum Budug Act"
PROCLAMATION
Sec l3 The nr aud against this Act shall he
vassed, returned and declared in the aui
subject the rules for Treasurer OF
state aud If Il appear that majority of all the vot
against this aforesaid OF tho
same, then 1t shall have immediate effect and the Cover
shall make proclamation thereof accordingly and the
Treasurer OF state shall proceed above directed pro-
vide for the preparation aud sale Of the bonds herein
tholed but SHOULD majority of votes be given against
the Act, then il shall be void and of GO effect,
PUBLICATION SECRETARY OF STATE.
Sec Il The secretary Of state shall this t0 he
published in newspaper in each judicial district ~
b. published therein, throughout the State for thres
months preceding the first Wednesday OF September
eighteen hundred and sixty three such Of Nert.
sing maintained by the papers in which he sans
may he published provided they do exceed Il
liked for State printing
See Is Section fourteen OF this Act shall take eact i'm
20.te