The San Francisco call., 1904-10-10
1EaA1 uor1cEs-cont.nuea.


ately labeled; but he must keep always on
hand a sufficient amount OF money in said
sinking fund with which to pay the inter-
est on such OF the state bonds herein pro.
Yided to be issued as may have heretofore
been sold. And to provide means for the
payment Of interest on the bonds that may
be sold and outstanding, said treasurer snall
monthly take from the San Francisco narpor
Improvement fund, and pay into said seawall
sinking fund, an amount equal to the montnly
interest then due on all bonds then sold' de-
livered and outstanding. The board OF state
harbor commissioners are hereby authorized ana
directed by the collection of dockage' Tolls,
rents. wharfage and cranage. to collect sum
Of money sufficient for the purposes OF this
act, over and above the amount limited Dy
section two thousand five hundred and twenty
six OF the Political Code OF the State OF
California. Between the first and the tenth
dred and fourteen, and between the first and
the tenth day of November Of each year there
By such
exhaust as nearly as may 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
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 50 drawn
and that the principal of said bonds will be
before the second day of January, following,
and that from and after such last named
cease, and IL shall be the duty of the treas
urer as soon as said bonds so drawn by lot
are surrendered to him and paid to cancel
the same and the interest coupons thereon.
6nd each year beginning with the year 1914
the said treasurer shall, in the manner afore-
said proceed to draw by lot such an amount
OF bonds az shall be requisite to exhaust as
nearly as may be the amount in said sinking
TunG and proceed in the manner hereina bove
sta ed DANDEnr bgnds
the surplus balance remaining in said sink
paiG into the San Francisco harbor Improve
ment fund. At the time OF the respective draw
ings b. lot as Aforesaid. and also at the ma
turity OF said state bonds said treasurer shall
sell the United States or other bonds then in
said sinking fund, at governing market rates.
after advertising the sale thereof in the man
hereinbefore provided for the sale OF bonds
hereby authorized TO be issued, and shall use
may be drawn by Iot anu al the maturity or
said bonds outstanding shall pay and redeem
said matured OUTSTANDING oohds out OF SAID
moneys in said fund in extinguishment Of said
bonds on controllers warrants duly drawn
for that purpose.
Sec 6. The state controller and the state
treasurer shall keep full and particular account
act and they Shall transmit 10 the goyernor
abstract of all such proceedings Hereunder,
laid before the Iegfslature bienniaiiy; and ali
books and papers pertaining 10 the matter
provided for in this act shall at all dimes be
open to the inspection OF any party interested.
the EONernOr. or the attorney general. or
a committee OF either branch OF the Legislature
or joint committee Of both. or any citizen
Sec I. 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, controllers war
rants duly drawn for that purpose.
Sec. s. This act, II adopted by the people,
shall take effect on the thirty-frst 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,
aFN aaVfNTn sing and 1laf
ing the votes. and as TO said excepted pro-
visions this act shall take effect Immediately.
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 all ballots
at said election shall have printed thereon
and at the end thereof, the words For the
arate line under the same the words Against
the San Francisco Seawall Act" and opposite
said lines there shall be left spaces in which
the voters may make stamp cross to
Indicate whether they vote for against the
said act, and those voting for said act shall
90 so by placing cross opposite the words
For the San Francisco Seawan Act and all
those voting against the said act shall do so
the San Francisco Seawan Act" The gov
ernor OF this state shall include the submis-
his proclamation calling for said general cleo
tion.
Sec. 10. The votes cast for or against this
act shall be counted, returned and canvassed
and declared in the same manner and subject
to the rules votes cast for state
officers; and If it appear that said act shall
have received majority of all the votes cast
for and against 1t at such election. aforesaid.
then the shall have effect herein
before provided. and shall be irrepealable
until the principal and interest of the liabil-
tiles herein created shall be paid and dis
charged and the governor shall make procla-
nation thereof; but II a majority Of the votes
cast aforesaid are against this act, then
the same shall be and become void
Sec IL This act may be known and cited
the San Francisco Seawan Act"
Sec II. All acts and parts of acts in
conflict with the provisions of this act are
hereby repealed.