The morning call., 1892-08-29
KISCELLANEO Us. +:
CHAPTER XT.-

an act to proride for the issuance and sdh
of State bonds to create fund for the
| construction and furnishing bY the Board
of State Harbor Commissioners Of q gen.
erGlf ferry and passenger depot in the city
and county Of San Francisco; to create
| sinking fund for the payment Of said
| bonds. and proriding for The Submission
OF thtS act to rote Of the people.
[Approyed March II, 1911 :.
The People Of the State of California. rep
resented IN Senate and Assembly, do
enact as foIlolcS:
| SEcT!oN /. For the purpose of providing
! fund tor the payment of the indebted.
ness hereby authorized TO be incurred by.
| the Board of State Harbor Commissioners,
Tor the erection and furnishing of a general
| railroad. passenger and ferry depot at or
near the foot OF Market street, in the city
and county of San Francisco. at cost NOT
| to exceed $780, coo, which the said Board Of
| State Harbor Commissioners are hereby
authorized to construct In the manner aud
! method authorized by law, and at coat
not to exceed said $500, 600, the State Treas- =:
urer shall. Immediately after the issuance :
| of the proclamation OF the Governor, here
matter provided for, prepare suitable bonds
| of the State of California;: One thousand
| bonds, in the denomination OF 500 each :.
! 900 bonds, in the denomination of $500 each:'
| 250 bonds, in the denomination OF $1,000
| each. The whole issue Of said bonds shall:
not exceed the sum of 5000, 900; which said
| bonds shall bear interest at the rate OF
| per centum per annum from their date. and;
| shalEbe payable at the Office OF the State
| Treasurer at the expiration OF 10: years
| from their date. Said bonds shall beardate "
| the first day Of January, a. ID. 1898, and shall
! be payable on the first day of JanuaTy,.A. d..
| 1912. The interest accruing on said bonds
| shall be due and payable OF the office OF
said Treasurer on: the: first day of January
ard hat Gr.t Aov 81 ltlry NJ n hvo
uided, that the first payment Of interest
| shall be made ON the first day of July. a D..
1898, on SO many OF said bonds as have been ):
heretofore issued. At the expiration Of.
10 years from the date Of said bonds, they
shall cease to bear interest an0 said Treas
urer shall forthwith pay the same out :oi the
San Francisco Depot Sinking Fnnde pro-
vided for hereinafter in this act: SAID
bonds shall be signed by the Governor.
eounterslgned by the Controller, lndorsed
by said Treasurer, and shall have the seal :
of the State affixed thereto D.
Sec. 2. Interest coupons shall be attached
TO each bond SO that they may be removed
without Injury or mutilation TO the bond.
Said coupons, consecutlvely numbered,
shall be signed by the State Treasurer. But
no interest on any of said bonds shall be
paid for any time which may Intervene be-
tween the date OF any of said bonds and the
issue thereof to a purchaser.
Sec g. The sum of $1,000 is hereby appro-.
prated TO pay the expense that may be in
CURED by the State Treasurer In having
said bonds prepared Said amount Shall"be
paid out Of the San Francisco Harbor In
proyement Fund, on Controllers warrants
duly:Grswn for that purpose.
- Sec. f.: When the bonds authorized to be
issued under this act shall be duly executed.
numh hered conseeutively, and sealed, they .
*shail:be by the State Treasurer: sold at pub
:lic auction to the highest bidder for cash.
and in such parcels. as said Treasurer shall
deem best !; but he EluStre1ect any and all
+ bIds*for said bonds, or any of them, which
shall: be below the par yalue:of said bonds;
.:and he m ay, by public announcement at tie
+ place Of sale, continue such sale, as 20 the
|: w hole or:any part thereof, to- any time and
| place ne. may: select. .;Due notice Of the
E"place :and time Of sale Of such bonds shall
f. besgiYen by said Treasurer. by publication
I in. two news apers: published in the city and
E:county:of. San: francisco, and also In two 60
l?newspR peTs:: published the city of Oak
r land,*two published in the city Of Los An :
l*geles, and two published In the:city. OF Sac
I:%ramento, Once a week for four weeks prior
l#:t0 sue sale. $ The costs of sueh.p publication
T. shall be paid out OF the San Francisco Har- e
/: Dor: Improvement Fund, on Controllers
warrants duly drawn for that purpose. The
+ pr oce ed S OF the sale of such honds shall be-
L::f0Ettwith paid oyeT.by said Treasurer into
F. fsth6:tTe asurW and must be by him kept in a
T. separate fund, TO be known and designated
l.. as tile: San francisco Depot Fund, ~. and
r. mus t:beused: exclusively for the: building
+ and =furnis hlngof snid depot. Drafts and :
l:warrgnts upon said fund shall: be drawn
i. upon aud shall be, paid out of said fund In
f hesame manner as drafts and warrants =
Leare :drawn: upon, and paid. out Of .the'S .
/ Francis zHarbor Improyement Fund. %:
T. SEC. B. For the payinen of the principal
T. and interest OF said bonds a sinking. fund. =:
+ 20. be-: known and designated as the'"San:..
<tranelS co depot Sinking" "Eand3 tf;ti ls %
!. aAd:the same is hereby created ss follows =:
The State Treasurer shall, on the first day
+ of each and every. mouth after the date of
.E0nH 4 frAm Fra,
- Ha rhor Z Improvement Fund the sum Oh .
4@31,:a nd place the e:same in said. san: Fran ::
|. .cisco*.Depot Sinking Fund. created: by
18th section. Said: Treasurer .shall: :,on
:C0ntE0der's. warrants duly drawn for
I; that II purpose, enlplQy;: the moneys in
|, said King fund in the: purchase: of bonds :
], ,oftlle y nited States: Rhichs aid:bGpds shall:
|. be keptfn a proper: receptacle: "a ppropri-
B ately labeled ;but he:mqstkeep always on:
5 hand sufficiept:amG0nt of money in said.
\: sin King fund with which.to payths in terest
f on the State: bonds ..rereih> proYided;:to bs
|: issued. Abd:to pToyide means for ths pay
:meDt of said sum o.. five thousand one
hundred ana .thirty-pne~ dollars, gionthlv:: :
!, from said. San Francisco Harbor Improve :
: mentFund i1to+said San Franchises Depot
z Sinking Fund and for: the; other payments
. out oil said und:auth oriZed by This act. aud:
as provided forstherei1ssthe said Board. OF
. State HarboE. Conan ssioners are: hereby
authorized, and. directed, by. the collection ::
of dockage, wharfage, tolls. rents and cran-.a.
I. therefore;>@:oyer and above the amount
: limited by section two thousand. five: hum
. dred and:tHenty-six1O of the political code of
the State:of California. After the payment :
OF all said bonds the surplus or balance re- :.
:: N iniDg IN said sinking. fund If: any there :.
:: be, shall forthwith be paid into. the San
" Francisco HarboE Improvement Fund. T.:
the maturity of said State bonds tile said
Treasurer shall sell the: L nited States bonds !
then in said sinking fund, at governing mar. ::
ketratss and place ths proceeds in said San :
Francisco Depot Sinking Fund and shall.
. pay out the same in eXtinguishment of said
State bonds, ON Controllers warrants duly
drawn for. that purpose: -:
Sec. 6. The State Treasurer shall keen !.
full and particular account and record Of.
all his proceedings under this act, and ba
shall trans snit t0tbe Governor an abstract
= of all his proceedings Hereunder with HIS. +:
annual report to be by the Governor laid
before the Legislature: and alf:b0oks and
papers pertaining TO the matter provided for
in this act shall at all times be open to the:
inspection OF any party interes ted; or tha :
. Governor, or Attorney-General. or a COM
mittee of either branch of: the I;ecislature
OF joint committee ofsbeth - ..a:.9
Sec. Z. 1t shall be the duty. Of the State
Treasurer to:pay the interest on said bonds
when the same falls due, outof the sinking
fund provided for: in this act, on Con.
troller's warrants duly drawn for: that pur-
. pose. :: -.
= Sec. g. This act. II adopted by the people.
as hereinaft provided for. shall ia ke effect
on the thirty-ff day of December, Al. d.
sighteen hundred and ninety-two, as 10 all
It's provisions. except those rel atiiig to- and
necessary for its submission to the. peopls
and for returning, csnvassing snd~ pro-
claiming the Votes and as. to said excepted
provisions this act shall take effect immedi-
ately. -.
Sec. 9. This act shall be submittsd to tha :.
people of the State of California for their.
ratification at the next general election to :,