Weekly Trinity journal., 1863-07-04
AN ACT
TO PROVIDE BONDS FOR COMPILE
[Approyed April 81, 1868. !

The Peoe of the state Of California; represe ted in Senate
and assembly, do enact as folows
Section For the purpose of completing and furnishing
the state Asylum for the Deaf Dumb and Blind the Treas
urer shall to be prepared suitable bonds
the state Of California bearing interest the of
per per annum payable semi annually the FIRST
day January and the first day of July Of each year,
the Office Of the Treasurer OF state
BONDS
Sec 2 The said bonds shall be signed by the Governor
aud counersgned by the Controllers ndorsed by the
Treasurer Of State and shall have the seal Of the State a
fixed thereto and shall date from the first day of July A.
D. eighteen hundred and sixtyour, and be made payable
at the Office Of the Treasurer of State within twenty years
after the date OF their issue.
COUPONS INTEREST.
Sec g. The coupons for interest shall be attached to each
bond that each may be removed without injury
DETACHMENT of the bond the remaining coupons The
said coupons shall be consccutyey numbered and signed
by the Treasurer of State and shall represent the semi
animal interest the bond to which they attached.
BONDs--AMOuNT TO BE ISSUED
T. The Treasurer shall furnish the Controller of State
ISSUE and each of the above named officers shall keep
careful and record of the number and denomination
of each bond issued under this Act the whole amount of
which bonds to be styled the Asylum Bonds shall not
exceed seventy five Thousand dollars (S750O0.)
APPROPRIATION
See g. The sum Of hundred dollars Is hereby ap
proprated the fund arising from the sale Of the As
ium Bonds pay such expenses may be incurred by
the Treasurer in the preparation of the said bonds
PAYMENT OF PRINCIPAL AND INTEREST.
Sec For payment Of the principal and interest Of the
Asylum Bonds" authorized by this Act there shall be
and sxty-four and each year thereafter until the
and principal be fully paid annual tax of three
ourths of per cent each hundred dollars Of
value of all the taxable property in this state, which tax
shall be assessed and collected other state taxes and by
the Treasurer State set apart 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 aud for the redemption of the same
and the faith of the state OF California s hereby pledged
for the payment herein provided Of the principal and
interest Of said Asylum Bonds"
SURPLUS IN ASYLUM FUND
Whenever. the first day of January the first
Of July of year there remains in the Asylum Bond
and Redemption Interest Fund " surplus of five thousand
dollars more after the payment of interest herein
provided shall be the duty of the Treasurer of State to
advertise ten days in one daily newspaper published in the
city of Sacramento and in daily newspaper published
the city san Francisco, for sealed proposals. to be
opened month aft the expiration o. the time Of pub
caon in presence of the Governor State Controller and
Treasurer at the Iressnrers office for the surrender OF
Asylum Bonds and TIE advertisement shall state the
amount OF moneys IN he fund TO be applied or tGe re.
dempton of the said bonds and the lowest proposals for
surrender shall be accepted at such rates. not exceeding
par value will redeem the largest amount Of bonds un-
til the money in the fund is exhausted.
TREASURER MONTHLY.
See s. The Treasurer of State shall keep full and par
ticula account interest paid and bonds redeemed and
render the the Controller monthly and shall be
hs duty pay the interest the said bonds when the
same falls due from the fund provided by this Act.
NOTICE SALE OF BoNDs-PRoyISo.
Sec When this Act shall have been ratified by vote of
the people hereinafter provided the Treasurer of state
shall advertise twenty days in one daily newspaper pub
lshed in the city Of sacramento and in one daily newspa
per published the city Of san Francisco for sealed pro
Tor the purchase O Ine WuOc or any portion III
Asylum Bonds and on the day named in the advertise
opening said proposals they shall opened at the
Office Of the Treasurer of state in presence OF the Governor
Controller aud Treasurer ana the sums bld Tor awarded 10
the highest bidder provided that bid shall be accepted
than per cent discount upon the amount rep
resented by the bonds bid for and any portion of bonds
authorized under this Act which shall not be dis
posed By bid above provided shall be sold by the
Treasurer Of State with the approval of the and
Controller provided that sale shall be made at more
than percent discount upon the amount represented by
the bonds Sold with the interest which may be due ana
b.p tiYnn nf
sales shall b. made for gold coin of the United states and
the proceeds shall be set apart in the Treasury and cons
tute the Blind Asylum Building Fund"
ERECTION AND FURNISHING ASYLUM, ETC.
Sec TO- The Trustees of the Deaf Dumb and Blind Asy
be Aled in the office Of the secretary Of state, shall con
tract upon surete which shall be approved by the GOV
ernor for the erection and furnishing of the Asylum ~
complete manner provided it shall not involve more rX
pendre than will be covered by the amount realized from
the sale the Asylum bonds issued under this Act.
CLAIMS CERTIFIED, ETC.-PAYMENT OF.
Sec H. All claims for material, labor and charges in
Blind ASYLUM in accordance with the plans above
toned shall be certified by the Board Of Trustees and dp
approval by the Board Of state Examiners the Controller
of state shall draw his warrant for the amount OF such
clam in favor of the person persons to whom il is due
and the Treasurer Of state shall pay the same from the
Blind Asylum Building Fund
SUBMITTED TO VOTE AT THE ELECTION OF
SEPTEMBER 1868,
Sec II This Act shall be submitted to the people of the
State for ratification at the general election to be held on
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 olcers
either for against this Act those voting for the
shall have written printed their ballots for State
officers the words For Asylum Building Act, and
those voting against the shall written printed
the ballots the words, Against Asylum Building Act"
PROCLAMATION or RESULT.
Sec 49, The votes for and against this Act shall be can
yassed returned and declared, in the manner ana
subject the rules votes cast for Treasurer of
State and if it appear that majority of all the votes
for and against this Act aforesaid in favor Of the
same, then shall have Immediate elect and the Cover
shall PROCLAMATION thereof accordingly and the
Treasurer of State shall proceed above directed to pro
vide preparation and sale the bonds herein
horized but should majority of votes be given against
the Act, then it shall be void and of no effect.
PUBLICATION SECRETARY STATE
Sec H. The secretary shall this Act to be
published in newspaper in each judicial district If
be published therein, throughout the State for three
months proceeding the first Wednesday of September d.
eighteen hundred aud sixty three such rates of adver
sing maintained by the papers in which the
he published provided they do not exceed the rates
fixed for State printing
See l5 Section fourteen of this Act shall take effect i'm