Salary Fund Salaries. When payable. Proviso. Section 13. All fees or compensation for official services, which under this Act are required to be paid into the County Treasury, shall be charged to the "Salary Fund" of the county, and be applied to the payment of the salaries of the District Attorney, County Judge, County Treasurer, County Clerk, Sheriff, Auditor, County Superintendent of Schools, Board of Supervisors, and the Deputies of said Sheriff and County Clerk, as now provided by law. The said Sheriff, Treasurer, and Clerk, ex-officio Recorder, and Probate Clerk, as aforesaid, and Auditor, named in this Act, shall perform all services required of them by law for county purposes without fee or compensation, other than that hereinbefore provided by this Act. SEC. 4. Section eighteen of said Act shall be amended so as to read as follows: Section 18. The salaries provided for in this Act, except the salaries of Superintendent of Schools and Board of Supervisors, shall be payable in equal monthly installments, and the County Auditor shall, on the first Monday in November, A. D. eighteen hundred and sixty-one, and the first Monday of each month thereafter, draw his warrants upon the County Treasurer in favor of the respective officers for the amount of salaries due each month; provided, that the Sheriff, Clerk, and Auditor, have complied in every respect with the provisions of this Act; and the County Auditor shall, on the first Monday of July, A. D. eighteen hundred and sixty-three, and on the first Monday of October, January, April, and July, thereafter, draw his warrant on the County Treasurer in favor of the County Superintendent of Schools, and of each of the Board of Supervisors, for the amount of salaries then due under the provisions of this Act. SEC. 5. All laws and parts of laws in conflict with this Act, so far as they relate to Sierra County, are hereby repealed. SEC. 6. This Act shall take effect and be in force from and after the first Monday in March, A. D. one thousand eight hundred and sixty-three. Special election. CHAP. LXXVII.-An Act to authorize the Board of Supervisors of the County of San Joaquin to take and subscribe Two Hundred and Fifty Thousand Dollars to the Capital Stock of "The Western Pacific Railroad Company," and to provide for the payment of the same, and other matters relating thereto. [Approved March 21, 1863.] The People of the State of California, represented in Senate and SECTION 1. It shall be the duty of the Board of Supervisors of the County of San Joaquin to order a special election to be held in said county, at the several places of holding elections therein, on the second Tuesday of May next, for the purpose of submitting to the qualified electors of said county the proposition for said Board of Supervisors to take and subscribe two hundred and fifty thousand dollars to the captital stock of "The Western Pacific Railroad Company," the line of which railroad is to run through the said County of San Joaquin. SEC. 2. It shall be the duty of said Board of Supervisors to Notice. cause notice of at least twenty days to be published in one or more newspapers printed and published in the said county, stating the proposition to be submitted to said electors, and the time and manner of voting thereon. It shall be the further duty of said Board of Supervisors, to cause ballots to be prepared, Ballots. with the words "Subscription of Two Hundred and Fifty Thousand Dollars to the Western Pacific Railroad Company," printed thereon. Every ballot in favor of said proposition shall have the word "Yes" written or printed thereon, and every ballot against said proposition shall have the word "No" written or printed thereon. Said election shall be conducted in the same manner as other elections for county officers, and sealed returns shall be made of the vote cast on said proposition, within five days after the said election, and in the same manner as provided for in case of the election of county officers, to the Clerk of said county, of the number of voters voting "Yes," and the number voting "No," which returns shall be, on said fifth day, or on the Saturday following the day of said election, opened and counted in the same manner as the returns of the votes for county officers; and when so opened and counted, the result thereof shall be declared officially by the said Board of Supervisors, who shall, at the time prescribed for the opening and counting of the returns of said election, meet as a Board for that purpose, and for perfecting the subscription of stock, as hereinafter provided. SEC. 3. If, at the said election, a greater number of the elec- Duty of tors of said county voting upon said proposition shall vote Supervisors "Yes" than shall vote "No," then, and in that event, is the Board of Supervisors of said county, in the name of said county, hereby authorized, empowered, and directed, immediately after the result of said election is so officially declared, to take and subscribe, for the use, benefit, and advantage of said county, to the capital stock of "The Western Pacific Railroad Company," a corporation duly organized under the laws of this State, on the thirteenth day of December, A. D. eighteen hundred and sixty-two, for the purpose mentioned in section one of this Act, stock to the amount of two hundred and fifty thousand dollars, and therefor to pledge the faith of said county for the payment of the same in the manner hereinafter provided. SEC. 4. The said subscription shall be made by a committee Subscription of two members of said Board of Supervisors, to be appointed by an order of the said Board for that purpose, and who shall perform that duty immediately thereafter. SEC. 5. The said subscription shall be made, and so received, Conditions. conditioned to be paid in the bonds of said county, issued as hereinafter directed, and not otherwise; and for such subscription said bonds shall be received at par, dollar for dollar. SEC. 6. The said Board of Supervisors of said county, from Issuance of time to time, as the payment of said subscription to such capi- bonds. tal stock so subscribed shall be required to be made by the Board of Directors of said railroad company, not exceeding at Interest. When and how payable any one time, however, an instalment of twenty per cent upon the amount of said subscription, shall, by order, direct the Chairman of said Board of Supervisors, the Auditor, and Treasurer of said county, who, for that purpose, in addition to their other duties as such officers, and their successors in office, shall constitute a Board of Commissioners, to be styled the "Loan Commissioners" of said county, as such Loan Commissioners to issue bonds, in the sum of one thousand dollars each, for such amount of such subscription to said capital stock as said Board of Supervisors may direct. Said bonds shall draw interest at the rate of eight per cent per annum from the date of their issue, and the principal thereof shall be made payable on a specified day, to be named in the bonds, which shall be twenty years after the date of their issue, at the office of the Treasurer of said county. The interest accruing on said bonds shall be due and payable semi-annually, so long as such bonds are outstanding and unpaid, and shall be made payable on a specified day, to be named in coupons, at said Treasurer's office, as before provided for the payment of the principal of said bonds. Both principal and interest of said bonds shall be made payable in United States gold coin, dollar for dollar. Said bonds shall be signed by the Chairman of said Board of Supervisors, the Auditor, and Treasurer of said county, as such officers, and ex officio "Loan Commissioners," and when so signed, shall be presented by the Chairman of said Board of Supervisors to the Clerk of said county, who shall countersign the same, as such Clerk, in the presence of a quorum of such Board, at a meeting thereof; and it shall be the duty of said Board of Supervisors to cause the fact of such countersigning of said bonds to be entered upon their journal, together with the number, date, and amount of each bond so countersigned by such Clerk; and upon the countersigning of said bonds, it shall be the duty of said Board of Supervisors to cause the seal of said county to be affixed to each bond, and appoint a committee of two of their Delivery of number to deliver said bonds to the said railroad company, to whom the same shall be issued; and it shall be the duty of such committee to take a receipt from the Secretary of said railroad company for the bonds so delivered by them, setting forth the number, dates, and amounts of the bonds so delivered, and report the same to the Board of Supervisors. bonds. Coupons. Expenditures. SEC. 7. Coupons for the interest shall be attached to each bond, so that the coupons may be removed without_mutilation to the bond; said coupons shall be signed by the Loan Commissioners. When any interest shall be paid upon a bond issued under the provisions of this Act, the County Treasurer shall receive the detached coupons for the interest then due and paid, and deliver the same to the Clerk of said county, taking his receipt therefor, whose duty it shall be to file the same in his office, and make a report thereof, at the next meeting of the Board of Supervisors. SEC. 8. The bonds issued, from time to time, in payment of such stock subscription, by virtue of the provisions of this Act, and at least an equal amount of any other funds that may be obtained by said company from other stockholders, or otherwise, or that may be furnished and supplied by the contractor, or contractors, who may be engaged in the construction of said road for said company, shall be expended from time to time, as the said bonds are required to be issued, in the construction of any portion of said road, that the said company may deem proper, in the graduation of any portion thereof; but in the purchase of equipments for said road, or any portion thereof, the said bonds may be expended without reference to the expenditure of other funds, as before provided, so that the same is applied in good faith in the construction of said road. It shall be the duty of the Secretary and Chief Engineer of said Company, from time to time, as the said bonds are required to be issued, to make reports under oath, in writing, and lay the same before the said Board of Supervisors, of the progress of the work, and the amount thereof done and performed, as near as the same can be ascertained, on said road. And if, after the issuance of such bonds in payment of twenty per cent on such subscription, there should be at any time any failure or refusal in the expenditure of said bonds in the mode and manner provided by this section, in the construction of said road, then, and in that event, the said Board of Supervisors may, at their option, Powers of withhold any further payments on such subscription, and shall not thereafter be liable to any future calls for assessments thereon; and if so declared by said Board of Supervisors, the said subscription shall be held void and of no effect, and the said company shall be liable to said county for any amounts that may have been previously paid on such subscription, at the time of such failure or refusal, recoverable at law in any Court having jurisdiction. Supervisors SEC. 9. It shall be the duty of said Board of Supervisors, Interest tax. previous to the making out of the duplicate of the general assessment list for said county in each year, to levy a tax, to be styled an "Interest Tax," sufficient to raise the amount of interest required to be paid each year on said bonds issued hereunder; and previous to the making out of the duplicate of the general assessment list of said county, in the year eighteen hundred and seventy-two, and for every year thereafter until the said bonds issued under this Act shall be paid and liquidated, the said Board of Supervisors shall, should it be necessary, levy a tax, not exceeding twenty-five cents on the one hundred dollars worth of taxable property of said county, for the purpose of raising a Fund for the liquidation of said bonds, which shall be styled a "Loan Fund." The said taxes shall be Loan Fund. levied and collected in the same manner as the general taxes for county purposes; and when collected, shall be paid unto the County Treasurer, who shall account for and deliver the same over to the said Loan Commissioners, to be by them applied: First-The interest tax, to the payment of the interest falling due on said bonds. Second-The Loan Fund, to the redemption of said bonds, as hereinafter provided. Interest Tax SEC. 10. If there shall be collected, as such interest tax, in Transfer of any one year, a sum greater than is required to pay the annual surplus from interest on said bonds issued hereunder, then the said Loan Fund. Commissioners shall pass over such surplus into the said "Loan Fund." Deficiency in Surplus in Cancellation of bonds. Duty of County Clerk. Liabilities of Com. SEC. 11. 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 said 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 said county. SEC. 12. Whenever, at any time, there shall be in said "Loan Fund," a sum of money amounting to four 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 of 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. 13. 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. 14. 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. 15. The said Commissioners, and all other officers herein missioners. specified, for the performance of their duties under the provisions of this Act,, shall, in all things herein required of them, be subject to all the liabilities and penalties to which they are subjected in 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 |