Amador ledger., 1908-08-14
SENATE BILL NO. 7.

Passed the Senate November 90 A 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 II O'Clock
a. IN L. 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 "a
fund for the acquisition by the board of state
harbor commissioners of a 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; maxi
ing an appropriation 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 2l, 1907,
relating TO the redemption OF such bonds and
creating sinking fund for such purpose and
adding new section to said act to be mum
OF said act and providing for the paymentof
the cost of publication of the same.
Phe people of the State OF California, repr
sented in senate and assembly. do enact as
SECTION For the purpose of providing
tund for the payment OF the Indebtedness auth
orized to be Incurred by the board OF state har-
Dor 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
the board of state harbor commissioners to in
stitute condemnation proceedings against GER
tain 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 and sale of
state bonds to create "a fund for the acquisition
by the board of state harbor commissioners OF
necessary area for tidal basin for wharves,
hu.I VuFsfa In Nhn
and county of San Francisco TO create sink
ing fund for the payment OF said bonds; and de-
lining the duties OF state ohcers IN relation
thereto; making an appropriation OF SlOOO for
the expense of printing said bonds; and pro
yiding for the submission or this act TO d vote
OF the people" the state treasurer shall, imme-
diately after the issuance OF the proclamation
by the governor, provided for ia section III 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
the rate OF four per centum per annum, from the
time OF the sale thereof, and both principal and
interest shall be payable In golu com OF the
present standard value aud they shall be pay
able ut the Ofiicn OF the state treasurer at the
expiration of nineteen years from their date,
subject however, TO redemption by lot as Ia
this act hereinafter provided. SAID bonds snail
bear date the second day of January, nineteen
hundred and nine, and snail be made
payable on the second day OF January, nineteen
hundred and twenty-eight- a. u. The interest
accruing on such OF said bonds as are sold shall
be due aud payable AT the otlice OF the state
treasurer on the second day OF January, and on
the second day Of July, OF each year atter the
sale OF the same provided, that the first pay
ment 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 to bear interest. and likewise
all bonds redeemed by lot shall cease TO bear
interest as In this act provided, and the said
state treasurer shall call in, forthwith pay and
cancel the same out OF the moneys In the India
basin sinking fund provided for IN this act
nineteen hundred and twenty eigh' also cancel
ami destroy all bonds not heretofore sold All
bonds issued shall be signed by the governor,
and cOuntersigned bY the controller, and AhAll