Amador ledger., 1908-09-04
SENATE BILL NO. 7.

Passed the Senate November 90 A d 1907
Lewis A. Hi ilborn, Secretary of the Senate.
Passed the Assembly, November 22 a. d.
1907. Clio Lloyd, Chief Clerk of the Assembly
This Bill was received by the Governor, this
23rd day OF November A. ID 1907, at IL o'clock
m e. c.. Cooper, Private Secretary OF the
Governor
CHAPTER 4. An act to amend section five of
the act entitled An act to provide for the
issuance and sale of state bonds: to create IL
fund for the acquisition by the board OF state
harbor commissioners of necessary area for
u tidal basin for wharveS, piers harbOrS and
appurtenances in the city and county of San
Francisco- to create a sinking fund for the
payment of said bonds and defining the du-
ties of state officers in relation thereto; max
ing an appropriation of one thousand dollars
for the expense of printing said boads; and
providing for the submission of this act to II
vote of the people, approved March 81, 1907,
relating TO the redemption OF such bonds and
creating u sinking fund for such purpose and
adding new section to said act to be mum
bered section l01a, relating to the publication
of said act. and providing for the paymentot
the cost of publication of the same.
Phe people of the State of California, repre-
sonted in senate and assembly. do enact as
follows:
SECTION / For the purpose of providing
fund for the payment of the Indebtedness auth
orized to be incurred by The board of state har-
bOr commissioners for the acquisition of the
necessary area for tidal basin extending the
area of India basin on the water front OF the
city and county of San Francisco, as provided in
an act entitled AN act TO authorize and direct
the board of state DarDOr commissioners to IN
stitute condemnation proceedings against GER
tan property north OF India basin, and extend
ing TO ISlaiS creek in the city and county OF san
Francisco, and extending their jurisdiction
over the same, and providing for the payment
of judgments from the proceeds OF bonds ISSUED
and sold under the provisions OF an act entitled
An act to provide for the issuance ana sale OF
state bonds to create % fund for the acquisition
by the board of state harbor commissioners or
necessary area for tidal basin for WharveS,
piers, harbOrs, and appurtenances IN the clty
a Irslrlf mis- n a.
ing fund for the payment Of said hondS and de-
inning the duties OF state officers in relation
thereto; making an appropriation OF $1,000 for
the expense of printing SAID bonds ana pro
ylling for the submission Of this act TO u vote
OF the people - the state treasurer shall. imme-
diately after the issuance OF the proclamation
by the governor. provided for in section ~ here
OF. prepare one thousand suitable bonds of the
STATE Of California, in the denomination OF one
thousand dollars each The whole issue of said
bonds shall not exceed the sum OF one million
dollars, and said bonds shall bear interest at
Oh rate OF four per centum per annum, from the
time Of the sale thereof, and both principal ana
interest shall be payable in gold coin of the
present standard value and they shall be pay
able at the ONO OF the state treasurer AT lhe
expiration of nineteen years from thelr dalei
subject, however to redemption by lot as IN
thlS act hereinafter provided. said bonds shall
bear date the second day OF January nineteen
hundred and nine and shall be- made
payable on the second day OF January, nineteen
hundred and twenty eight, A. d. Ihe lnlereSl
Hccruing on such OF said bonds as are sold Shall
De due and payable AZ the onice OF the state
treasurer on the second day of January, and on
the second day of July, of each year after the
sale OF the same; provided, that the urSt pay
mcnt OF interest shall be made on the second
day OF January. A d. nineteen hundred ana
ten, ON so many OF said bonds as have been
heretofore sold. AT the expiration OF 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 TO bear
interest as in this act provided, ana the salu
state treasurer shall call In, forthwith pay ana
cancel the same, out of the moneys in the India
basin sinking fund provided for m this act,
and he shall on the first Monday OF January,
nineteen hundred and twenty eigh also cancel
and destroy all bonds not heretofore sold. All
bonds issued shall be signed by the governor,
Hld cOuutersigued by the controller ana shall