The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-09-26
LEGAL NOTICES.
CHAPTER CCXL

AZ ACT TO PROVIDE FOR THE ISSUANCE
AND SALE OF STATE BONDS TO GRE
ATE A FUND FOR THE CONSTRUCTION
by THE BOARD OF STATE HARBOk
COMMISSIONERS OF A SEAWAIL AND
C0i-NTY 0F SAN FRANCISCO: 10 GRE
ATE a SINKING FUND FOR THE PAY
FOR THE SUBMISSION OF THIS ACT
no 4 VOTE or THE PEOPLE.
Improved March 20, l903l
The people of the State Of California, repre-
enact as follows:
Section J. For the purpose OF providing a
SUMO Tor The payment OF the Indebtedness here
ly authorized 10 Doe incurred by the board OF
stete harlor comm ssioners for the erection OF
"a scaTaI and aTpurtenances in the city and
county o. san Francisco. at cost not 10 exceed
TWO MILTON dollars (which said seaHaU and
arrurreUlECes Lcc board OF state harbOr COM
uisSloners are hereby empowered 10 construct
-u abe manner authorized by Law, and 1t a
Gust not 10 exceed said two million dollars), the
state treasurer shall, Immediately after the
provided for IN section ten hereof. prepare Two
tlcusapG suitable bonds OF the State Of Cali
dollars each. The whole issue Of said bonds
shall moi exceed the sum OF two million dollars,
and said bonds shall bear interest al the rate
'- -llt per ceut1tn per annuhls from lhe
lime OF the sale thereof. and both principal
@tl1 interest snaH 2e payable IA goid COIN
' A-e present slaioafd o. Nalue, ana 1hey
shall b. payable the office Of the state
t1eas1rer Al the expiration, Of nineteen years
from lneiL dale' SUBJECT, however, 70 re-
lrmptou by lot IN this act hereinafter
provided said bonds shall bear date the
second day OF January. 4. d. nineteen hundred
and nVe and shall be made PAYABLE on the
recond day OF January, nineteen hundred and
tHeEty-tOur A. y. The interest accruinE on
such OF said bonds as are sold shall be due
and payable the Office Of the said state
treasurer Oh the second day OF January and
on the second day OF July. Of each year after
the eale 81 the same; provided. that the first
payment OF interest shall be made on the
dred and SIX. many OF said bonds as
may have been heretofore sold. At the ex-
piraton Of nineteen years from the date OF
said bonds, all bonds sold shall cease TO bear
interest, and. likewise, all bonds redeemed by
Jog fAal cease 70 Dear interest as IN this
act PROVIDED. and the said state treasurer shall
cali ln. forthwith pay, and cancel the same,
out 0t the moneys in the san Francisco seawaII
be SHAH on the inst Monday Of January. nine
teen hundred and twenty-fOur, also cancel and
destroy all bonds not Heretofore sold. All
bonds Issued shall be signed by the governor.
and countersigned by the controller. and shall
le endorsed by the state treasurer. and each
shall have the zeal OF the state stamped
thereon. Each bond shall contain a clause
that il is subject TO redemption by lot after
the year 1914.
Sec ? Interest coupons shall be attached
o. each OF said bonds. 50 that such coupons
tion Of the bond said coupons shall be con-
secutivell' numbered, and shall be signed by
~ said bonds shall be paid for any time which
may intervene between the date Of any II
said bonds and the issue and sale thereof TO
sec. 3. The sum OF one thousand dollars is
latAel4 APPROPRIATED 10 pay the expense mat
-ss DC incurred by the state treasurer In
having said bonds prepared said amount shall
be paid out ~ the san Francisco harbor I'M
lrpFefnent fun1 on controllers warrants duly
drawn Tor that purpose
Sec 4 When the bonds authorized 10 be
thsg ehan be 81 The state treasurer sold at
public auction - the highest bidder for cash
"a such Parcels and numbers as said treasurer
shall be directed BY the governor OF the state
under -he sal thereof. after a resolution re-
guessing such sale shall have beer adopted BY
q Ia 70 : q Erc- b
sslc treasurer must reject any and all bids
lor sid h1-ds, O. Tor any OF them, which
30 offered and he may. by public announce
uent - the place and time fixed for the
sale. continue such sale. as 10 the whole OF
tne bc1cs offered. o. any part thereof offered.
- such time ana place as he may select.
- al bonds must BE given by said treas
urer b. publication in two newspapers pub
llshed in TIE city and county OF San Fran
slEco and also by publication ia one news
paper published il the city o. Oakland and
TIE CITY of Los Angeles and by prbIfcstsr1
e. newspaper published in the city OF
s.rior 70 such sale. The costs of such nuh
lcation shall be paid out OF the san Fran
cisco harbcr Improvement fund. on controllers
warrants GUY drawn lor that purpose The
I-uceecs q rle sale q such bonds shall be
forthwith paid over b. SAID treasurer into the
Lt1surg, and must be by him kept IN q sep
arate fund. 20 be known and designated as
tile san Francisco Seawsll Fund and must
D. used exclusively for the construction OF
teaNalls and apJIUrtenances thereto on the
water front OF the city and county OF Ssn
francisco Drafts and warrants upon safS
lund shall be drawn upon and shall be PAD
our q said fund II the same manner a.
TRAITS aud warrants are drawn upon and Maid
out of the san Francisco hsrbor Improvement
lGlu.
Sec. r For the payment Of the princ.psl
and interest OF said bonds sinking fund 70 De
l-.own and DESIGNATED as the san Francisco
.-eauaU sinking Fund'' shall be and the sam.
q hereby created. follows: The state treas
ul-r shall. on the first day OF each and every
usuuih after the sale OF said bonds, take from
tal san Francisco harbor Improvement fund
fl1n sold ana outstanding have 10 run, viii
-lusi The principal OF the bonds sold and out
standing az the time said treasurer shall 50 take
sail sum from said san Francisco harbOr i'm
praFcncnt func. less the amount heretofore
Fai.en tlerefron Tor said purpose; ana he shall
Ilacc the sum Ia the San Francisco sea wall
shaking fund created by this act. said state
treasurer shall. on controllers warrants duly
asyu Tor that purpose. employ the moneys IL
laid sinking fund in the purchase Of bonds OF
thc United states. or OF the State OF California
tlc state ~ California. which said bonds shall
D. kept in proper receptacle. appropri-
ntcl1 labeled; but he must keep always on
hand sufficient amount OF money IL said
sinking fund with which 20 pay the inter-
e 90 such 81 the state bonds herein pro-
fIlcl ~ be- issued may have theretofore
been sold. And 10 provide means for the
payment ~ interest on the bonds that may
ne cold ana outstanding. said treasurer shall
monthly take from tho San Francisco harbor
Improvement fund. and psy into said seawan
'"i'rest then que on all bonds then sold dA-