Interest, how paid. Redemption of bonds. Second-The Loan Fund, to the redemption of said bonds, as hereinafter provided. SEC. 9. Should there be collected as such interest tax, in any one year, a sum greater than is required to pay the annual interest on said bonds issued under this Act, then the said Loan Commissioners shall pass over such surplus into the said Loan Fund. SEC. 10. It shall be the duty of said Loan Commissioners to make arrangements for the payment of the interest on said bonds when the same falls due, at least thirty days before the time of payment, and in the event said Interest Fund is insufficient, the said Treasurer shall draw on the Common or General Fund of the said county for such purpose, and deliver the same to such Commissioners; and in the event that those Funds prove · inadequate, the said Commissioners are authorized and required to make such contracts and arrangements as may be necessary for the payment of said interest and the protection of the faith of the county. SEC. 11. Whenever, at any time, there shall be in said Loan Fund a sum of money amounting to two thousand dollars, or upwards, the said Commissioners shall advertise in a public newspaper, published in said county, for a space of four weeks, for sealed proposals for the redemption of said bonds; and ten days from the expiration of the time for such publication, the said Commissioners shall open the sealed proposals, and shall pay and liquidate, as far as the Loan Fund then on hand shall extend, such bonds presented under said proposals as shall have the lowest value proposed at which they may be liquidated; provided, the same shall not be for more than the par value thereof, and, provided, should there be no proposals made for less than par value, then the payment of said Loan Fund on hand shall be made on said bonds according to the number of their issue, of which the said Commissioners shall give four weeks notice of the number of the bonds to be paid, after which time such bonds shall cease to draw interest; and, provided, whenever there may be sufficient moneys in such Loan Fund for the extinguishment of the bonds issued under this Act, it shall be the duty of the said Commissioners to advertise, in like manner, for a space of four weeks, for the redemption of all the outstanding bonds issued under this Act, after which time said bonds shall cease to draw interest. Any moneys remaining in said Loan Fund after the redemption of said bonds, shall be by the said Commissioners paid over to the County Treasurer, to be by him held subject to the order of said Board of Supervisors. SEC. 12. Whenever any bonds shall have been paid and redeemed by the said Commissioners, they shall mark the same "cancelled," over their signatures as Commissioners, and immediately deliver the same to the County Clerk, taking his receipt therefor; and the said Clerk, upon the receipt of such cancelled bonds, shall file the same in his office. SEC. 13. The County Clerk shall open with the said Commissioners an "Interest Tax Account," and a "Loan Fund Account,” and shall balance and settle the same quarterly, on the first Mondays of April, July, October, and January, of each year. SEC. 14. The said Commissioners and all other officers herein Liability of specified, for the performance of their duties under the provi- officers. sion of this Act, shall in all things herein required of them be subject to all the liabilities and penalties to which they are subjected on the performance of any other of the duties of their respective offices, and they shall, where the fees or salary is not fixed by law for the services herein required, be allowed by the Board of Supervisors a reasonable compensation therefor, to be paid by said county as other fees and salaries are paid; and the said Board of Supervisors may, and they are hereby fully authorized so to do, require of each of said Commissioners such bonds and security for the performance of their duties herein required of them as they, the said Board of Supervisors, shall deem proper; provided, however, that the penal sums of such bonds to each of said Commissioners shall not exceed eight thousand dollars. The said Commissioners shall, when so required, execute the said bonds in the same manner as other official bonds are executed, and to be approved by said Board of Supervisors, and filed in the office of the County Clerk. stockholders SEC. 15. The said Board of Supervisors shall have authority vote of to empower one or more of their number, or any other person or persons, to cast any or all vote or votes representing the capital stock subscribed by said Board of Supervisors. The said turnpike company shall, on demand, issue and deliver to the said Board of Supervisors, for the use and benefit of said county, certificates of full paid stock in said turnpike company, equal in amount to the amount of the county bonds that said Board of Supervisors have or shall have delivered to said turnpike company. The said Board of Supervisors shall have power Powers of to sell or cause to be sold the said turnpike company stock, at Supervisors. public auction, in the Town of Murphy's, in said County of Calaveras, or at the City and County of San Francisco, after the time and place of sale shall have been advertised by publication once a week, for the period of at least four weeks, in two newspapers of general circulation, one published in the County of Calaveras, and the other in said City of San Francisco. The proceeds of such sale or sales of stock, after the payment of the expenses of sale, shall be paid into the "Loan Fund," to be used and appropriated as in this Act provided. SEC. 16. The Board of Supervisors shall have all the rights Dividends, and powers appertaining to any other subscriber to such capital issues, and stock, and shall receive all of the dividends, issues, and profits, arising from such subscription to said capital stock, and shall set apart and transfer the same, together with the taxes that may be paid by said company to said county from time to time, to the said Loan Fund, to be applied by the said Loan Commissioners to the payment of the interest on the bonds issued as herein provided, and the redemption of the principal thereof in the manner provided by section eleven of this Act; and after the full payment of said bonds and the interest on the same, the said dividends, issues, and profits, arising from such stock subscription shall be applied as follows: One third part thereof to the School Fund of said county, and the other two thirds to the General Fund. Conditions of SEC. 17. The subscription of stock authorized by virtue of subscription the provisions of this Act, shall be made by said Board of Supervisors, on the books of said company, upon the express condition that the said county shall not be liable for any of the debts or liabilities of said company beyond the amount so subscribed; and this provision, as to the liability of said county, shall be a part of and be expressly stipulated in all contracts made by said company for the construction of said turnpike road, and in case said company should fail or refuse to make such stipulation in all of their said contracts, then the said Board of Supervisors shall have power to declare the said subscription void and of no effect, and may recover of said company any previous payments that may have been made thereon at the time of such failure or refusal. And the said county shall never make any other or further subscription to the capital stock of said company than that provided for by this Act. SEC. 18. This Act shall take effect and be in force from and after its passage. Relief Fund created. Persons entitled to relief. Muster roll. CHAP. CCCCXIV.—An Act for the Relief of the Enlisted Men of [Approved April 27, 1863.] The People of the State of California, represented in Senate and SECTION 1. A sum not exceeding six hundred thousand dol- SEC. 2. There shall be paid out of the Fund created and set apart by the first section of this Act, to each and every enlisted soldier of the companies of California Volunteers raised or hereafter to be raised in this State for the service of the United States, to aid in repelling invasion, suppressing insurrection, enforcing the laws, and preserving and protecting the public property, from the time of their enlistment to the time of their discharge, the sum of five dollars per month; provided, that this provision shall not apply to any soldier who may be drafted or enlisted as a substitute for any person drafted into the service of the United States. SEC. 3. No money shall be drawn out of the "Soldiers' Relief Fund," herein provided for, except as is provided for in section four of this Act. SEC. 4. The Captains or commanding officers of companies of California Volunteers shall, after each and every muster, file in the office of the Adjutant-General of this State a complete muster roll (duly certified) of their companies, from the date of their enlistment, noting desertions, discharges, and dismissals, and stating the causes of such discharges and dismissals from the service. No non-commissioned officer or private shall be entitled to the benefit of this Act who shall not obtain an honorable discharge from the service, and no money shall be drawn from the Fund hereby authorized and set apart until he has been honorably discharged the service; provided, however, that the monthly amount hereby appropriated may be drawn by such enlisted married men as have families depending upon them for support, who shall have power to allot the whole or a portion of the same for the support of their families. The amount of pay thus allotted shall be paid to the person to whom the same is legally allotted, upon the following certificate of the AdjutantGeneral of this State, (with seal of office attached,) being indorsed thereon, namely: "I hereby certify that in Certificate. is a regiment, California Volunteers, and company SEC. 5. To enable all concerned to avail themselves of the Muster-out benefits of this Act, muster-out rolls of the respective companies rolls. of California Volunteers shall be duly filed in the Adjutant-General's office of this State, and a certified copy thereof filed in the office of the Controller of State. SEC. 6. For the purpose of carrying into effect the provisions Bonds. of this Act, and providing for the Fund created by section one of this Act, the Treasurer of the State of California shall cause to be prepared bonds of the State, to the amount of six hundred thousand dollars, in sums of five hundred dollars each, redeemable at the office of the Treasurer of the State, on the first day of July, one thousand eight hundred and eighty-three. The said bonds shall bear interest, payable semi-annually, at the rate Interest. of seven per cent per year from the date of their issue, which interest shall be due and payable at the office of the Treasurer of State, on the first days of January and July, of each year; provided, that the first payment of interest shall not be made sooner than the first day of January, one thousand eight hundred and sixty-four. The said bonds shall be signed by the Governor, and countersigned by the Controller, and indorsed by the Treasurer of State, and shall have the seal of state affixed thereto. And such bonds shall be issued from time to time, as Coupons. Demands to they may be required for use. The expense of preparing such bonds shall be audited as a claim against the "Soldiers' Relief Fund," created by this Act. SEC. 7. Coupons for the interest shall be attached to each bond, consecutively numbered, and signed by the Treasurer of State, and it shall be the duty of the Controller and Treasurer of the State, each, to keep a separate record of all such bonds as may be issued, showing the number, date, and amount of each bond, and to whom the same was issued. SEC. 8. All demands against the Soldiers' Relief Fund shall be audited. be audited by the Board of State Examiners, in like manner as other claims against the State are or may be directed to be audited. Bonds to be sold. Bide forfeited. SEC. 9. The Treasurer of State shall sell and dispose of said bonds for gold and silver coin of the United States, from time to time, as may be necessary to provide for the payment of liabilities against the said Soldiers' Relief Fund, in the following manner: He shall publish notice for thirty days in two daily papers of the City of Sacramento, and in two daily papers of the City of San Francisco, inviting sealed proposals for the purchase of said bonds; the notice to state the time and place of receiving bids, the amount of bonds to be disposed of, and that no bids will be received for the purchase of a less sum than two thousand dollars, nor for a greater rate of discount than fifteen cents on the dollar of the par value thereof, and that the payments for the same must be made in gold and silver coin of the United States. Parties proposing to purchase bonds offered as aforesaid, must state, in writing, the amount they propose to purchase, and the rate per cent they are willing to pay in gold and silver coin as aforesaid; each proposal to be accompanied with a responsible guarantee that the bidder will take the amount of bonds proposed and pay for the same on delivery of the bonds, if his bid is accepted, in accordance with the terms of his bid. No bids shall be received for a less sum than two thousand dollars, nor for any fractional part thereof, and the said bonds shall not be sold or negotiated by the Treasurer at a greater discount than fifteen cents on the dollar of the par value thereof. The Treasurer shall, immediately upon the closing of said bids, or as soon thereafter as convenient, open the whole of the bids or proposals in the presence of the Governor and Controller, and the Governor, Controller, and Treasurer shall proceed to consider such proposals, and shall accept such as propose to purchase the said bonds for the smallest discount, such discount not, in any case, to be greater than hereinbefore limited. Upon the acceptance of any bid, and notification by the Treasurer to the bidder, such bidder shall forthwith pay to the Treasurer the amount of the purchase money for the bonds proposed to be purchased, in gold and silver coin of the United States; upon receiving the same, the Treasurer shall deliver to such purchaser the bonds so purchased. All moneys received by the Treasurer from the sale of bonds as herein proposed, shall be placed by the Treasurer to the credit of the said Soldiers' Relief Fund. SEC. 10. If any bidder whose bid shall be accepted shall fail to pay the money and accept the bonds, as provided in the last preceding section, he shall forfeit all right to his bid, and shall, |