Amador ledger., 1908-09-25
SENATE BILL NO. Z.

Passed the Senate November 20, A d 1907.
Lewis A. Hilborn. Secretary of the Senate.
Passed the Assembly, November -. A. ID.
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
E. G. Cooper Private Secretary of the
Governor.
CHAPTER T. 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 IL necessary area for
tidal basin for wharVeS, piers, harbOrS and
appurtenances in the city and county of San
Francisco; TO create sinking fund for the
payment of said bonds; and defining the du-
ties of state officers in relation thereto; max
ing an approximation OF one thousand dollars
for the expense of printing said bonds; and
providing for the submission of this act to a
vote of the people, approved March 81, 1907,
relating to the redemption OF such bonds and
creating a sinking fund for such purpose, and
adding % new section to said act to be mum
bered section 101a, relating to the publication
OF said act, and providing for the paymentof
the cost of publication of the same.
Phe people of the State of California, repr e
sented in senate and assembly, do enact us
fOlOwS
SECTION For the purpose of providing a
fund for the payment OF the Indebtedness auth
orized to be incurred by the board of state har-
bor Comm sionerS 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 harbor commissioners to in
stitute condemnation proceedings against GER
tain property north of India basin, and extend
ing 10 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
IAN 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 II
necessary area for tidal basin for wharyes,
piers, harborS, and appurtenanceS in the city
and county of San Francisco; TO create "a sink
Ing fund for the payment OF said bonds; ana de-
hniug the duties of state otiicers in relation
thereto; making an appropriation OF Sl,OOO for
the expense Of printing said bonds; ana pro
viding for the submission of this act TO vote
OF the people," the state treasurer shall. tmme
diatey after the issuance of the PROCLAMATION
by the governor provided for IN section 10 mere
OF, prepare one thousand suitable bonds OF the
Stale 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 snail bear interest AT
the 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 aud they snail he pay
able AT the ONO" OF the state treasurer at me
expiration OF nineteen years from lhelr uaIe,
subject, however, TO redemption by lot as IN
tins act hereinafter provided. Said bonds snail
bear date the second day of January, nineteen
hundred and nine, and snail be maze
PAYABLE on the second day Of January, nineteen
hundred and twenty eight, A. ID. The interest,"
accruing on such OF said bonds as are SOLD shall
be due and payable at the ONCE 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 first pay,
meut OF interest shall be made ON the second
day Of January, A ID. 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 to bear interest, and likewise
all bonds redeemed by lot shall cease 20 bear
interest as in this act provided, and the sald
state treasurer shall call In, forthwith pay ana
cancel the same, out OF the moneys I'm the INDIA
basin sinking fund provided for IN this act,
aud he shall on the first Monday OF January,
nineteen hundred and twentyegh also cancel
ana destroy all bonds not heretofore sold. All
bonds issued shall be signed by the governor.
and cOuntersigned by the controller and shall