The union Democrat., 1870-02-26

1he following is q copy OF the Dill, lot
regulating the Financial affairs of this Coun-
ty. adopted and recommended at the meeting
| of citizens, held at the Court House on Sctur-
| day the l9thinst:
| An Act provide for Rcdeemims md Pay
ing the Warrants outstanding axnin.t
Tuolumnc County, and for Paying the
! Current Expenses OF said County i'm
| Cash. and Defining and Limiting the
/ Powers and Duties of certain Officer. in
relation thereto.
Tie people ct-Me State Of California repre-
sented ia Senate and assembly, do enact as
tolIocs:
Section. l. The Board of Supervisors OF
| Tuolumne County shall have the power, and
it is made their duty to levy a special tax an
nually, in addition To other taxes provided for
| by law, upon the taxable property of said
| County of one per cent, and said tax shall be
| collected at the same time and in Ike man.
ner as other taxes are collected in said Coun-
! ty, to be called the Redemption FcnG, which
! fund shall be used for the redemption of any
| County Warrants drawn upon the Treasurer
| Of Tuolumne County prior TO the passage of
| this Act, such redemption to be made as here
matter prescribed.
| SEC . 1t shall be lawful for anv person
! or persons being the owner or the lawful agent
| or holder for any lawful owner, of any Coun-
! ~ Warrants drawn upon any of the different
funds in the Treasury of Tuolumne County,
to file sealed proposals with the Treasurer of
Tuolumne County for the surrender Of Coun-
ty Warrants, which proposals shall be accom-
panied with the warrant or warrants prcpos-
ed to be surrendered.
! Sec. 5. On the first Wednesday after the
first Monday in January, May, August and
| November in each year, the Board of Super
visors together with the County Auditor and
County Treasurer shall attend ct the Of
| flee of the Board of Supervisors, and then and
there open all proposals and accept the lowest
bids for the surrender of County Warrants:
provided that no bid shall be accepted for more
than the par value of said warrants, nor shall
any bid be accepted unless accompanied by
the warrants proposed to be surrendered.
| SEC. 4. When any bids are ACCEPTED, the
County Auditor and County Treasurer shall
each take description of the warrants to be
redeemed, specifying therein the number and
the amount of each warrant to be redeemed.
and the amount to be paid for each warrant.
and make several record thereof in their re-
spective Offices, and thereupon the Board of
Supervisors shall make an order directing the
| County Treasurer to purchase the warrants
designated in the accepted bids and pay for
the same out of the Redemption Fund, and the
warrants SO redeemed shall be cancelled as
other redeemed County Warrants, except that
the County Treasurer shall write on the face
of said warrants, purchased" and the
! tnr hn md hc1 III
name and Official designation thereto
The order of the Board of Supervisors di-
rectng the purchase Of said warrants tcgeth-
err with the record made by the County Au-
ditor shall be sufficient vouchers for the Coun-
ty Treasurer in the settlement of his accounts
The bids being equal, the preference shall be
given to the smallest amount of warrants, the
bids and amount of warrants being equal,
each shall be accepted pro rata or as nearly
so as poSsble; provided, however, tha: all
bids shall propose to surrender the warrant
or warrants accompanying them for given
per cent to be stated in the bid of the gross
amount due upon the warrants for principal
and interest, aud the per cent stated in bids
being equal. that bid shall be considered low
est which will stop the accruing of the great
est amount Of interest. The County Treasu-
rer shall return all unaccep,ed bids together
with the warrants therein contained to the
owner on demand.
SEC ). The tax now provided by law for
County expenditures shall be levied and col
lected annually, and paid into the County
Treasury and together with all revenue col
lected from the following sources within said
County. t0-wit from foreign miners license,
merchandise and liquor license, peddler's Ii
cense. billiard license, brokers license, thea
ter license. circus license, auctioneer's license.
all fines and forfeitures. all receipts from toll
bridges and ferries together with all sums
due from Stanislaus County and all poll tax
collected for County purposes shall constitute
the Current Expense Fund.- of said County,
and shall be dishursed as hereinafter pro.
vided.
Sec 6. The Current Expenses of said
County for each fiscal year shall he paid out
of the fund provided therefor in section FIVE
OF this Act. and no part of said fund shall ev-
er be applied to the payment of any current
expenses. debt or liability of any preceding
year incurred after the passage of this Act,
and neither the Board of Supervisors of Tuol-
umne County nor any officer. officers or au-
thority shall have power to contract anv debt
against the County of Tuolumne, and no per
so2 or property therein shall ever be liable to
he assessed or Se subject to taxation in any
form to provide Tor the payment Of any debt
hereafter contracted, or of any claims against
the County, except such legal and proper ex-
penses thereof rs shall accrue after the COM
mencement of the fiscal year for which the
tax for County expenditures shall be levied,
and the Auditor of Tuolamne County is here
by forbidden to draw his warrant upon the
County Treasurer of said County for any de-
mand payable out of the Current Expense
Fund of said County. unless at the time OF
drawing such warrant there is sufficient mo-
ney ia said fund to pay such warrant. Meth
er. the Supervisors of said County nor any Of
fetal thereof shall have power to contract or
audit any debt against said County IN any
fiscal year which added to the expenses fixed
and chargeable against said County by law Tor
such fiscal year. will exceed the revenue Tor
current expenses for such fiscal year. and II
any debt shall be so contracted or audited, IT
shall be invalid both in law and equity against
said County but shall become legal debt
against each of the Supervisors contracting
the same, or against the officer contracting the
same.