The San Francisco call., 1904-09-12
LEGAL NOTICES.
CHAPTER CCxI

OC-AL
AN ACT TO PROVIDE FOR THE ISSUANCE
AND SALE OF STATE BONDS TO GRE
ATE A FUND FOR THE CONSTRUCTION
BY THE BOARD OF STATE HARBoR
APPURTENANCEs IN THE CITY AND
COUNTY OF SAN FRANCISCO; TO GRE
MENT OF SAID BONDS; AND PROVIDING
FOR THE SUBMISSION OF THIS ACT
TO A VOTE OF THE PEOPLE.
IApproved March 90 1901
The people OF the State of California. repre-
sented in senate and assembly. DO
enact as follows:
Section l. For the purpose OF providing a
iund Tor the payment OF the Indebtedness here
Dy authorized 10 be incurred by the board Of
state harbcr commissioners for the erection OF
a sesWau and appurtenances in the city and
county Of san Francisco, at cost not to exceed
Two million dollars (which said seawall and
appurtenances the board of state harbor COM
missioners are hereby empowered to construct
an The manner authorized by law, and at a.
cost Ect 10 exceed said two million dollars), the
Issuance Of the proclamation Of the governor,
provided for in section ten hereof. prepare two
Thousand suitable bonds OF the State OF CALI
fornia. in the denomination Of one thousand
dollars each The whole issue Of said bonds
shali not exceed the sum Of two million dollars.
ana SAID bonds shall bear interest at the rate
OF four Der centum per annum, from the
time OF the sale thereof. and both principal
OF the present standard OF value, ana they
shall be payable at the office OF the state
treasurer. AZ The expiration OF nineteen years
from their date subject, however to re-
demption by lot as in this act hereinafter
provided said bonds shall bear date the
second day or January. \. ID. nineteen hundred
ana nfe, and shall be made payable on the
second Gay Of January, nineteen hundred and
tWenty-foUr a ID. The interest accruins
such OF said bonds sold shall be due
ana payable at the Office OF the said state
treasurer on the second day of January, and
on the second day Of July. Of each year after
Inc SAFE ci the same; provided, that the hrst
payment or interest shall be made the
second day of January, A. ID. nineteen hum
oreo ano siN. on many OF said bonds
may have been heretofore sold. At the ex-
plratlon Ct nineteen years from the date OF
SAID bonds, all bonds sold shall cease 10 bear
interest and, likewise, all bonds redeemed by
LOT shall Cease 10 bear interest in this
act provided. and the said state treasurer shall
call in. forthwith pay. and cancel the same,
out Of the moneys in the San Francisco seawalI
sinking fund provided for In this act and
he shall on the first Monday OF January, nine
teen hundred and twenty-four also cancel and
destroy all bonds not Heretofore sold. All
ana countersigned by the controller. and shall
be endorsed by the state treasurer, and each
shall have the seal OF the state stamped
thereon. Each bond shall contain a clause
the year 1914.
Sec ?. Interest coupons shall be attached
TO each OF said bonds, that such coupons
may be removed without injury to mutila-
.tion of the bond Said coupons shall be con-
secutveiy numbered. and shall be signed by
the state treasurer. But interest on any
of said bonds shall be paid for any time which
may intervene between the date OF any of
said bonds and the issue and sale thereof to
q purchaser.
Sec. 3. The sum Of one thousand dollars IS
hereby appropriated TO pay the expense that
may be incurred by the state treasurer in
having said bonds prepared Said amount shall
be paid out OF the San Francisco harbor I'M