Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-10-19
LOS ANGELES BONDS.
THE STATE HOLDING A QUARTER OF
A MILLION OF THEM.
One Issue of $4,000 Technically De.
fective, But They VIII Probably
be Redeemed.

Among the bundles of bonda represent
ing millions of dollars held in trust by the
State Treasury for the benefit of the State
school fund are Los Angeles county bonds
to the face value of S255,OO0. OF this latter
amount, bonds representing S155, 900 have
words, they contain the same flaw which
prevented the purchase by the State of
batch of bonds several months ago.
Some months since Los Angeles county
effected the sale to the State Board of Ex-
aminers of some $4,000 of its bonds, to be
applied to the benefit of the State school
fund. On an examination of the bonds
the discovery was made that they were
authorized to be issued under an Act Of the
Legislature approved March 4, 1888, when,
as matter of fact, no such Act was ap-
proved on that date, the date being March
II, 1888, the figure ''1' having been mad
vertently omitted.
The Attorney General subsequently rem
dered an opinion that the wrong date did
not affect the validity of the bonds, but
State Controller Dunn deemed it best not
county for the purchase of the bonds and
the sale tell through.
The S155,00 in bonds above referred to
contain the same defect as those rejected
by the Controller, as the following repro
duction of one OF them will show;
Forvalue received, promise to pay to Thomas
Brown or order. at the Office of the Treasurer of
said county, in the city of Los Angeles, on the
LIST day of July, 1905 or at any time before that
data at no nj n
81 goo, gold coin OF the United States with In
terest at the rate of ~ per cent. per annum,
payable at the Office of said Treasurer semi
annually, on the list day Of January and July in
each year, on presentation and surrender OF the
interest coupon here attached.
This bond is issued by the Board of Super
visors in conformity with a resolution of said
Board, dated the Goth day of June, 1885, and
under authority conferred upon said Board by
the provisions of an Act of the Legislature of
Cali ornia emitted 9 An Act to establish uni
form system of county governments, approved
March 4, 1888"
In testimony whereof the said county by its
| Board of Supervisors, has caused this bond TO
| be signed by the Chairman of the Board and
attested by the Auditor with the county seal at
tached, this LIST day of July, 1885
A. A. MONTANA Auditor.
OSCAR MACY, Chairman BID of Supervisors
Following are copies of the certificates
showing the purchase of the bonds
| OFFICE oFTHE STATE BOARD OF EXAMINERS
SACRAMENTO october Is, 1881
Annexed account for $685. %, presented by
| W. E. Gerber for fifty Los Angeles bonds, with
| accrued interest, is approved for the sum of
S55,6Sl %, payable out of the State school land
| fund, thirty-Dinth fiscal year.
| R. W. WATERMAN, Governor.
| W. C. HENDRICKS, Secretary of State.
G. A. JOHNSON, Attorney General.
SACRAMENTO, October 19, 1887.
| State of California to w. f. Gerber Dr.
| To fifty Los Angeles county bonds of
the value Of 81, 600 eaca....-..-... SIS, 600 90
| Accrued interest on bonds from July LIST
to october 49, 1887. at ~ per cent?. 6s1 25
| s55,6Sl 25
| The above bonds were purchased by the State
| Board OF Examiners for the benefit of the school
| fund. S. P. MAsLiN, Secretary.
| OFFICE OF THE STATE BOARD OF EXAMINERS,
| SACRAMENTO October 20, 1887.
The annexed account for Sl2S.6,6 %, presented
by W. Z. Gerber for l15 Los Angeles county
bonds of 81 900 each and interest, is approved
for the sum of Sl2S,656 %, payable out of the
State school land fund, thirty-ninth fiscal year
r. w. WATERMAN, Governor.
| W. C. HENDRICKS, Secretary of State.
G. A. JOHNSON, Attorney General.
SACRAMENTO, October 90, 1887
State of California to w. E. Gerber, Dr.
To lis Los Angeles county bonds of
$1,000 each 20years, at AZ per cent s127 075 0C
Interest from July LIST TO October 20,
ool z