The San Francisco call., 1904-10-03
1EcAr Nor1crs-continued.

be sold and outstanding, said treasurer shall
monthly take from the San Francisco harbor
sinking fund, an amount equal TO the monthly
interest then due on all bonds then sold. de-
harbor commissioners are hereby authorized and
directed by the collection of dockage tolls
rents. wharfage and cranage, to collect sum
of money sufficient for the purposes of this
act, and above the amount limited by
section two thousand five hundred and twenty
Six OF the Pclltcal CODE OF the state OF
California. Between the first and the tenth
day Of November. in the year nineteen hun
dred and fourteen, and between the first and
the tenth day of November of each year there
after until the maturity OF said bonds, the
said treasurer shall, in the presence of the
amount Of bonds shall be requisite to
exhaust as nearly as NAV be the amount in
said sinking fund at that time, and shall
thereupon and before the tenth day of De-
cember following give notice by public ad-
Vertisement to be inserted twice week for
two weeks in two newspapers published in
the city and county of San Francisco, and also
in one newspaper published in the city OF Oak
land and also in one newspaper published in
the city Of Los Angeles, and also in one
newspaper published in the city of Sacra-
mento. stating the number of bonds so drawn
and that the principal of said bonds will be
paid on presentation to the treasurer on or
before the second day OF January, following
and that from and after such last named
date all interest upon bonds thus drawn shall
cease, and il shall be the duty of the treas
urer as soon as said bonds drawn by lot
are surrendered TO him and paid to cancel
the same and the interest coupons thereon
and each year beginning with the year 1911
the said treasurer shall, in the manner afore-
said proceed to draw by lot such an anonnt
of bonds as shall be requisite to exhaust as
nearly as may be the amount in said sinking
fund, and proceed in the manner hereina bove
stated. After the payment of all of said honds
the surplus balance remaining in said sink,
ing fund, IL any there be, shall forthwith be
maid into the San Francisco harbor improve-
ment fund. At the time of the respective draw
ings by LOT as aforesaid. and also at the ma
sell the United States or other bonds then in
said sinking fund, at governing market rates.
after advertising the SAFE tnefeot IN the man.
ner hereinbetore provided for the sale of bonds
hereby authorized to be issued and shall use
the proceeds for the payment oc such bonds as
may be drawn by lot, and at the maturity Of
said bonds outstanding shall pay and redeem
said matured outstanding bonds out of said
moneys in said fund in extinguishment of said
bonds on controllers warrants duly drawn
for that purpose.
Sec g. The state controller and the state
treasurer shall keep full and particular account
and record of all their proceedings under this
act and they shall transmit to the governor
abstract of all such proceedings hereunder,
with annual report, to be by the governor
laid before the legislature biennially; and all
books and papers pertaining to the matter
provided for in this act shall at all times be
open to the inspection of any party interested
or the governor. the attorney general, or
a committee of either branch of the legislature
or joint committee Of both, or any citizen
Sec T. 1t shall be the duty of the state
treasurer to pay the interest Of said bonds
when the same falls due. out of the sinking fund
provided for in this act, on controllers war
rants duly drawn for that purpose.
Sec. s. This act, if adopted by the people,
shall take effect the thirty-first day OF De-
cember, A. D. nineteen hundred and four, as
all it's provisions except those relating to and
necessary for it's submission to the people,
and for returning, canvaSstng, and proclaim
ing the votes, and to said excepted pro-
visions this act shall take effect Immediately.
Sec. 8. This act shall be submitted to the
people of the State OF California for their
ratification at the next general election, to be
holden in the month of November, A. D.
nineteen hundred and four; and ali ballots
at said election shall have printed thereon,
and at the end thereof, the words For the
San Francisco Seawall Act" and in a sep
arate line under the same the words Against
the San Francisco Seawau Act" and opposite
said lines there shall be left spaces in which
the voters may make stamp a cross to
said act, and those voting for said act shall
do so by placing a cross opposite the words
For the San Francisco Seawall Act" and all
those voting against the said act shall do so
the San Francisco Seawall Act" The gov
ernor of this state shall include the submis-
sion of this act to the people, aforesaid. in
his proclamation calling for said general cleo
tion.
Sec. TO- The votes cast for or against this
act shall be counted, returned and canvassed
and declared in the same manner and subject
TO the same rules as votes cast for state
have received a majority of all the votes cast
for and against il at such election, aforesaid,
then the shall have effect herein
before provided and shall be irrepealable
until the principal and interest Of the labil-
tiles herein created shall be paid and dis
charged, and the governor shall make procla-
nation thereof; but If a majority of the votes
cast aforesaid are against this act, then
the same shall be and become void.
Sec. H. This act may be known and cited
as the san Francisco Seawan Act"
conflict with the provisions of this act are
hereby repealed.