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keep a record of redeemed warrants.

and bonds issued

to the state treasurer.

Not to affect school land bill.

Governor and

examine and cancel all warrants.

Provision for a

be less than $100. be in less sums than one hundred dollars, and Provided, that the said

bonds to be issued, shall not be other than for the sums of one hun

dred, one hundred and fifty, five hundred or one thousand dollars each. Treasurer shall The treasurer shall endorse on the back of each warrant redeemed by

him, the date on which he redeemed the same, from whom received,

and also keep a record of the same, giving the number of the warrant, May be funded, date of the same, time when redeemed, and the amount. And the on presentation treasurer of the state shall liquidate none of the aforesaid indebted.

ness of the state, in any other manner than is herein provided, unless otherwise ordered by future enactment: Provided, that none of the provisions of this act shall be so construed as to prevent the state treasurer from receiving state warrants or bonds, in payment of school lands, as provided by laws now existing, or that hereafter may be passed.

Sec. 6. It shall be the duty of the governor and comptroller to comptroller to

attend, at least once in each month, at the treasurer's office, to examine all warrants received by the treasurer as aforesaid, and to cause the same to be registered and cancelled in such a manner as to prevent them from being re-issued, or put in circulation.

Sec. 7. In addition to the ordinary taxes for general state purspecial tax to be

poses, there shall annually, after the present year, until the principal

and interest of the bonds to be issued under this act shall be fully eight hundred and fifty-two." provided for, by payment or otherwise, as hereinafter provided, be

levied and collected in the same manner with the ordinary revenues of the state, as provided for by laws now in force, or which may hereafter be enacted, and by the same officers, a special tax for the funded debt of one thousand eight hundred and fifty-two, to be called the “interest tax of one thousand eight hundred and fifty-two,” of ten cents on each one hundred dollars worth of taxable property, which tax shall be collected and paid over into the treasury of the state, in the legal currency of the United States, or in gold dust at the

value for which it may be received in payment of the ordinary taxes Application

of the state. The fund derived from this tax shall be applied only to the payment of the interest to accrue upon the bonds herein provided for. Provided, however, that should said fund furnish a surplus

over and above what it requires for the payment of said interest, such Surplus to be surplus shall be turned over and paid into the sinking fund, herein

provided for, and Provided, further, that if such interest fund is not sufficient to pay said interest, the balance of said interest shall be paid out of the “Sinking Fund," provided in the next section. Pro

vided, the interest due for the year one thousand eight hundred and Interest of 1852. fifty-two shall be paid out of the sum set aside by section seventeenth

of revenue bill for that purpose.

called the
* Interest tax of
one thousand

of fund.

paid into a sinking fund. Deficiency of interest.

hundred and

Sec. 8. It shall be the duty of the treasurer to set apart a fund State treasurer to be called the “ sinking fund,” of one thousand eight hundred and fund to be called fifty-two. Into this fund shall be paid—First, any and all surplus fund of eighteen of the interest aforesaid. Second, any and all moneys received by Afty-two." the state of California from the United States government on account of the civil fund, after the redemption of the bonds of this state, is- Moneys sued in accordance with the act entitled “ An act to fund the debt of Sinking fund.”

composing the the state," passed April twenty-ninth, eighteen hundred and fifty-one, save and except the sum of fifty thousand dollars, which shall be retained for the payment of claims justly chargeable upon such civil fund. Third, the proceeds of the sales of all lands that may hereafter be acquired by this state, in her own right, if any shall be sold except those reserved for school purposes, and the swamp lands, which may be received after redemption of the bonds issued under act of twenty-ninth of April, one thousand eight hundred and fifty-one, herein before mentioned. Fourth, whatever surplus may remain in the general treasury, accruing from the sources specified in this act, on the first day of July, one thousand eight hundred and fifty-three, and on the first day of July, every year thereafter, not otherwise appropriated by law. All of said payments to be continued until the sinking fund shall be sufficient for the payment of the principal and interest of the bonds aforesaid, or disposed of as herein specified.

Sec. 9. Whenever, upon the first day of July, one thousand eight Surplus to liquihundred and fifty-three, or upon the first day of July in

July in any subsequent year, there remains a surplus after payment of the interest, as before provided, of twenty thousand dollars, it shall be the duty of the treasurer to advertise for the space of one month in two newspapers of San Francisco, for sealed proposals for the surrender of bonds issued in accordance with this act, in such quantity as the holder may desire, not exceeding the amount to be redeemed. He shall state in said advertisements, the amount of money that he has on hand for the purpose of redemption, and he shall accept such proposals, at rates not exceeding par value, as may redeem at the lowest value named for the bonds, until the amount of cash on hand for redemption is exhausted. Upon the redemption of the bonds thus provided for, they shall be cancelled in the manner prescribed in the fourteenth section of this act for the redemption of the three per cent. bonds.

Sec. 10. Full and particular account and record shall be kept by Manner of canthe treasurer, of the condition and business of said “sinking fund,” Record of the

sinking fund. open at all times to the inspection of the governor and comptroller, and to any committee appointed by the legislature, or either branch thereof.

the bonds and

Treasurer to

Pledges the faith Sec. 11. The faith and credit of the state of California is hereby of the state for the redemption pledged for the payment of the bonds issued under this act, and the

interest thereon, and that the provisions and appropriations in this interest.

act made and provided, shall be maintained and applied to the pay

ment of said bonds and interest. Treasurer to Sec. 12. The treasurer of the state, having occasion to employ or require bond and mortgage security from those

trust any person or persons, in or about the business devolved upon in his employ. him by the provisions of this act, shall take for his own security, and

for the security of the state, such security by bond and mortgage, or otherwise as shall be approved by the governor; which bond and mortgage so approved by the governor, shall be good and sufficient in law, and may be prosecuted in the name of the obligee, for his own use or for the use and benefit of the state of California.

Sec. 13. The treasurer of the state shall transmit to the governor transmit an abstract of all an abstract of all his proceedings under this act, with his annual his proceedings under this act. report, to be by the governor laid before the legislature, and all books

and papers pertaining to the matter provided for in this act, shall at all times be open to the inspection of any party interested, or to any committee of either branch of the legislature, or a joint committee

of both. Treasurer to Sec. 14. The treasurer of the state shall, on or before the thirtieth give notice by publication to the day of May, one thousand eight hundred and fifty-two, give notice bond-holders of

by publication in one or more newspapers, to the holders of the bonds act creating a

of this state issued under an act entitled “An act creating a tempo- . temporary state loan," passed

rary state loan," passed February first, eighteen hundred and fifty, requiring said bonds to be presented at the office of the treasurer, on the first day of January, one thousand eight hundred and fifty-three for adjudication and redemption. Upon the receipt or presentation of any such bond or bonds, at or into the office of the treasurer of state, he shall take account of such bond and hand the same to the comptroller of state, for adjudication in the usual manner of auditing civil claims against the state. The comptroller shall certify, by endorsement upon the back of each bond, the amount due thereon, principal, interest, and total; and such bond, so endorsed, shall be paid by the treasurer of state on presentation, on or after said first

day of January; and no interest shall accrue on said bonds after that to be destroyed day, unless previously presented. The bonds redeemed as provided by treasurer.

for in this section, shall be immediately cancelled by the treasurer of state.

bonds issued under " An

in 1850.

CHAPTER CLXIV.

AN ACT supplementary to "An Act to fund the Indebtedness of the

State, which has accrued, or may accrue, from April twenty-ninth, one thousand eight hundred and fifty-one, to December thirty-first, one thousand eight hundred and fifty-two, inclusive, and to provide for the Payment of the Three per cent. Bonds,approved May first, one thousand eight hundred and fifty-two. (1)—[Passed May 17, 1853.]

The People of the State of California, represented in Senate and

Assembly, do enact as follows :

of 1852.

treasurer.

SECTION 1. With a view to fund so much of the civil debt of the Warrants issued

from January to state, as has accrued, and remains unpaid since the thirty-first day of June, 1853, December, A. D. one thousand eight hundred and fifty-two, and so be funded under much as may accrue up to the thirtieth day of June, A.D. one thousand funding act eight hundred and fifty-three, inclusive, constituting an indebtedness, drawn payable out of the “General fund,” the treasurer of state shall Duties of state cause to be prepared a sufficient number of bonds having the same forms, guarantees and provisions, as the bonds issued under said act of May first, one thousand eight hundred and fifty-two, payable at the same time, manner, and with the same rate of interest as is provided by “ An act to fund the indebtedness of the state, which has accrued, or may accrue, from April twenty-ninth, one thousand eight hundred and fifty-one, to December thirty-first, one thousand eight hundred and fifty-two, inclusive, and to provide for the payment of the three per. cent. bonds," approved May first, one thousand eight hundred and fifty-two.

Sec. 2. For the purpose of paying the interest, and to provide for Provision for the the sinking fund of the funded debt, in accordance with the aforesaid interest and

sinking fund, act, approved May first, one thousand eight hundred and fifty-two, there shall be levied and collected this present year, and every year thereafter, until final payment of the bonds issued in accordance with “ An act to fund the indebtedness of the state which has accrued, or may accrue from April twenty-ninth, one thousand eight hundred and fifty-one, to December thirty-first, one thousand eight hundred and fifty-two, inclusive, and to provide for the payment of the three percent. bonds,” approved May first, one thousand eight hundred and

(1) For funding act of 1852. see chapter 163.

Additional interest tax.

Amount of the entire interest tax.

fifty-two; and in accordance with this act, an additional interest tax of ten cents on each one hundred dollars of real or personal property in this state : but this section shall not be so construed as to allow, with any existing or subsequent act, the collection of more than twenty cents in all upon each one hundred dollars, for the

purpose

of paying the interest, and providing for a sinking fund for the funded debt of one thousand eight hundred and fifty-two, and of this act.

Sec. 3. The expenses incurred by the treasurer of state in procuring the blank bonds required by this act, shall be paid out of the general fund.

Expenses for bonds.

CHAPTER CLXV.

AN ACT to prevent the City of San Francisco from selling or in any

other wise disposing of Lots within its Corporate Limits.- [Passed April 1, 1851.]

The People of the State of California, represented in Senate and

Assembly, do enact as follows :

City of San Francisco not to dispose of certain lands until, etc.

The like.

Section 1. The city of San Francisco shall not have power either to sell, lease, or in any manner convey any lands situated within the corporate limits of said city, from and after the passage of this act until the tenth day of May next, or thereafter.

Sec. 2. No officers of said city, or any one appointed by said city, before or after the passage of this act, shall have any power to dispose of said lands except in accordance with the provisions of the first section of this act, and every sale made by said city, its officers, agents, or commissioners, contrary to the provisions of this act, shall be null and void.

CHAPTER CLXVI.

AN ACT concerning Judges of the Plains (Jueces del Campo,) and

defining their Duties (1)—[Passed April 25, 1851.]

The People of the State of California, represented in Senate and

Assembly, do enact as follows :

Judges of the plains to be appointed.

SECTION 1. The court of sessions of each county throughout this state shall, at its regular term for county business, appoint such a

(1) For act to regulate rodeos, see ante, p. 337.

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