The Placer herald., 1871-07-15

issued. The Controller shall certify the rate ,o
ax thus computed by him to the several Count,
auditors, and the sud Auditors are hereby d
rected and required to enter such rate on the as
iessment rolls Of their respective countless il
the same manner and with the same effect as is
provided by law in relation to other State taxes
Every tax levied under the provisions or author
ty OF this Act is hereby made q lien against thl
property assessed, which lien shall attach on
he first Monday in March in each year. anq
shall not be satisfied or removed unit such tay
has been paid. All moneys derived from taxes
authorized by the provisions Of this section shal
,e paid into the State treasury and shall be ap
)lied--
Ers'--To the payment Of the interest on tn,
o'nds issued by the provisions Of this Act.
Second--To the payment of the principal Of
such bon Is. etr-1 flt -
Prorided, that all moneys remaining in ths.
State treasury on, the third day of Janusry, il.
zach year for the first five years after the is su
.nce of any bonds under this Act after all TIL
interest II such bonds then due has been paid
hall be transferred by the Treasurer of State t,
he General Fund
SEC. IL, Whenever on the third day of Janu
,ry July, in any year, after the expirat on o
i've years from the date of issuance of any bond.
nder this Act, there remains. after The pay /,
nent OF the interest rs provided in the preced
ins section, surplus of ten thousand dollars 0.
nore it shall be the duty oi the Treasurer to ad
vertise, for the space ofone month, in one daih
newspaper, published IN English, IN THE city
New York, and for one month in one daily news,
paper, published in English, at the State Capital
or sealed proposals, to be opened one month at.
aer the expiration Of such publication by tn,
Treasurer, III presence of the Governor or Con
roller, dt the State Cap tol, for the surrender OF
3 ,onds issued under this Act VIII ch advertis
nent shall state the amount of money he has OF
iand for the ptlrpose of redemption; and the,
hal me- 1,tf hA In,yau L.,
sxceedins par value as may redeem the creates
amount OF bonds, until the amount of cash o.
nlnd for the redemption is exh iusted; prorided
however, in case sufficient amount of sue.
onds shall not be offered, as aforesaid, to ex
iaust the Sink NJ Fun to a less amount than
Tn thousand dollars, then it is hereby made III
luty of the TrearuIe to advertise in two news
'apers one in New York and one at the Capita
pt this State, for three mouths which advertis,
nent shall state the amount im the Sinkin
fund, and the number of bonds, numberin
them in the ord of their issuance which sucl.
and IS set apart to pay and d scharge; and
iuch bonds so numbered in such advert sement
'nal not Represented for payment and cancela'
ion at the expiration of such publications, thei
.uch fund shall rema N in the treasury to dis
harge such bonds whichever presented but thee
hall draw no Interest after the expiration
,dch publication; before any Of said bonds shat
i.pad they Shall be presented to the Controller
sho shall indorse on each bond the amount du
hereon, and shall write across the face of eacl
,ond the date of its surrender and the name o
h person slrrendering.
SEC. H.. The Treasurer of State shall keep
NIL and particular account and record of all hi
Proceedings rnder th Act, and CT the bond
deemed and surrendered and he shall traps,
nit to the Governor an abstract of all his pro.
,eed us under this Act, with h $ annual report
, o be by the Governor. laid before the Legisla
and al ,b1 ,,i.rta 10
natter provided for in this Act shall at ali time
ie open TO the inspection of any party interest
Il, ,.or tn g ,veraor or the Attorney General,
.-eoinmittee of either branch of the Leg stature
II JOINT committee of both. ttf -
Sfc.' l3. 1t shall be the duty of the Treasu ;,
r to pay the interest on said bonds. when the
same falls due out of said Interest Fund i
uficient and if snid fund be not suffic ent theI
. ply the efficiency out af the General Fund
)foided that the Controller of State sh I'll frs
lr1lw his warrant on the Treasurer, ayable t
he order of said Treasurer, for the amount
interest money about to become due, whch sal
interest warrant shall be drawn at least on
month previons to the maturing of the interest
SEC. IA. This act shall take effect sixty day
fter the next general election, as to all its pro
isons, except those relating to and necessar.
or its submission to the peop'e and for return
NJ. canvas sing and proclailnng the votes, which
hall take effect Immediately.
SEC. 10. This Act shall be submitted to tn
people of the State for their ratification at tn
lext general election, and the qnaliti ID electors
u this State shall at said election, on their bai
OTIS for State officers, vote for or against tk
Act; those voting for the same, shall write o
ave printed on their ballots the words, '.Refpn
he Debt--Yes,' and those voting against til
anne, shall write or have pr ntcd on their ballot
he words. Refund The Debt--No."a -.. ..,.
SEC. l6. The votes cast for and against th.
Yet shall be counted, returned and cancelled
md declared in the same manner and subjec
the same rules as votes cast for the Treas
er of State. and ii it'appears that majorstyo
I'll the votes cast for against this law as afore
aid, are in favor Of this Act, then the sam
hall have ef1ect as herrinbtfore provided, an
shall be irrepealabe until the principal and in
crest of the liabilities herein created shall b
,aid and discharged, and the Governor shal
make proclamati on hereof; but if majority o,
he votes so cast against this Act, then tn
same shall become vod
SEC. II. 1t shall be the 'uty Of the Secretar.
# State to have this Act published in one news
paper in each judicial district of this State, 70
Tree months next preceding the next genera
lection. for which publication no greater allow
nee shall he made than the rates allowed b.
to the State Printer. =
June Sd, 1S71.-3m. hf a} al