Amador ledger., 1908-08-21
SENATE BILL NO. 7.

Passed the Senate November 20, A. d. 1907
Lewis A. Hilborn, Secretary of the Senate.
Passed the Assembly, November ", "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
a m e. c. Cooper, Private Secretary of the
Governor
CHAPTER A. An act to amend section five OF
the act entitled An act to provide for the
issuance and sale OF state bonds; to create
fund for the acquisition by the board OF state
harbor commissioners of necessary area for
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 bonds; and
providing for the submission OF TINS act TO
vote OF the people" approved March 81 1907,
relating TO the redemption of such bonds and
creating sinking fund for such purpose and
adding "a new section to said act to be mum
bered section l0%, relating TO the publication
OF said act, and providing for the paymentof
the cost of publication OF the same
PhO people of the State OF California, repr
Sented in senate and assembly. do enact as
follows
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-
Dor cOmmi SSiOnerS for the acquisition of the
necessary area for u tidal basin extending the
area OF India basin on the water front of the
city and county of San Francisco, rs provided in
an act entitled AN act to authorize and direct
the board of state harbor commissioners TO in
sttute condemnation proceedings against GER
tain property north of India basin, and extend
ing TO ISlaiS creek in the city ana county or san
Francisco and extending their jurisdiction
over the same, and providing Tor the payment
of judgments from the proceeds or Donds issued
and sold under the provisions of an act entitled
IAN act to provide for the issuance ana sale OF
state bonds to create fund for the acquisition
by the board of state harbOr cOmm SSlonerS OF
necessary area for tidal basin for wnarves,
piers, harbOrS, and appurtenanceS IN the city
and county of San Francisco; TO create sink
ing tund for the payment OF sald bonds ana de-
filming the duties OF state olhcers IN relation
thereto; making an appropriation or Sl,OOO for
the expense Of printing said bonds ana pro
viding for the submission OF thls act 70 u vote
OF the people, the state treasurer snail, lmme
diatGly after the issuance OF the proclamation
by the governor provided for in section 10 here
of, prepare one thousand suitable bondS OF the
StaIe 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 al
the rate OF four per centum per annum, from the
time of the sale thereof, and both principal and
interest shall be payable IN goa com OF lhe
present standard value and they shall be pay
able az the ohlcu OF the state treasurer at me
expiration OF nineteen years lrom thelr dAte,
subject, however TO redemption by lot as IN
this act hereinafter provided. Shlu bOnuS Shall
bear date the second day OF january, nineteen
hundred ana nine, and snail ne maze
payable on the second day OF January, nineteen
hundred aud twentyeight, A. ID. The interest
accrulng on such OF SAID bonds as are SOFA suall
be due and payable nj the ONCE OF the slate
treasurer ON the second day of January, ana on
the second day Of July, of each year atter the
sale OF the same: provided, that the hrsl pay.
ment OF interest shall be made on the second
day of January, A. ID. nineteen hundred and
ten, on so many Of said bonds as have been
heretofore sold AT the expiration OF nineteen
years from the date of said bonds, az bonds
sold shall cease to bear interest, ana llkeWlSe
all bonds redeemed by lot shall cease TO bear
interest as in this act provided, ana the Sald
state treasurer shall call In, forthwith pay ana
cancel the same, out of the moneys IN the lndla
basin sinking fund provided for m TINS act,
and he shall on the first Monday OF January,
nineteen hundred and twenty-ctgh', also cancel
and destroy all bonds not heretofore sold, All
bonds issued shall be signed by the governor,
and countersigned by the controller aud snail