The San Francisco call., 1910-09-12
LEGAL AND oFFIcIAL-contInued

the principal and interest Of the liabilities
herein created shall be maid and discharged. and
the governor shall make proclamation thereof;
but If majority of the votes cast. as Aae.I aeaT
said. are against this act, then the same snan
be and become void
Sec. IL 1t shall be the duty of the secre-
tary of state to have this act published IN ,s a.
least one newspaper in each county OF -sin eiry
Throughout @ this state 9ne for three months next
preceding the general election to be ,tasn notasn
hundred and ten: the costs of publication --,<u
oe paid out OF the general fund on eoneioAe'
Sec. II. This act shall be known and elleu
as the India Basin Act
Sec 49, All acts and parts of acts IN RsrsSr con
hiet with the provisions of this act are neieO'
w R. PORTER
President of the Senate.
2. A STANTON,
Speaker of the Assembly
Approved March 24th A D. 1909.
j. n. GILLETT. Governor.
Endorsed: Filed in the office Of the secretary @
$50 O'Clock a. m. 6. F. Curry. Secretary Of
State By j. Hoesch, Deputy.
SENATE BILL NO. 464-
Passed the Senate March 12, A. ., 1909
Passed the Assembly. March 20, A ID. lsoS-
Clio Lord, Chief Clerk of the Assembly
d Ihs s.I b IL Msrrs rseeed b tRs at oeoc
Governor
Chapter 62s An Act to provide for the issue
and sale of state bonds TO create Iuno 10. @
the construction by the board Of state nsroof r
commissioners for the bay OF San Dieso DsH ~
harbor improvements consist of seawan'
wharves, piers, state railroad. spurs DS' -
Diego 1 to erepte aepSe sinking fund for the pay
ment of said bonds; to denne the uueiIes :. -
state officers in relation tnereto' 70 hnndred
appropriation of one thousand nye nunosSS aiS
dollars for the expense OF printiing, sa oe
bonds, and to provide for the SUBMISSION VI
this act to vote of the 9eoDle
neonIe Of the ~ repreSenleo
in senate and assembly, do enact as loiio"s'
Section 1. For the purpose of providing a fund
for the payment of the Indebtedness nersoy har ar
thOrized TO be incurred by the board OF State hsl
Dor commissioners for the bay OF San Dlego ~! IoI
harbor improvements consist Of for the osd etecoH
spurs betterments and appurtenances in the
county of San Diego, at cost not 10 e1ceSu ~ OI
million five hundred thousand dollars wnio9 7 Sr-u
seawalI, wharves piers, state railroad spurs;
betterments and appurtenazces the saiu oOaa1 a.
of state harbor commissioners for san Diego pay
hereby empowered to construct In the man,
authorized by law, at cost not 10 eAcesu
one million five hundred thousand dollars, the ~
state treasurer shall, Immediately after lhe
Issuance Of the proclamation Of the governor pro
vided for in section ten OF this act pFepaLe IL u.
California in the denomination of one thousand
dollars each. to be numbered from one 70 nlteel
hundred inclusive, and TO bear date OF the seconu
day of July nineteen shundred eleven The To-
tai issue of said bonds shall not exceed tne sun
OF one million I'VE hundred tnousano } S,r ner
they shall bear interest at the rate Oh l0ut G g
cent per annum from the date OF issuance InsrS, ERE
Of The said bonds and the interest thereon snais
be payable in gold coin or the Unlted Stdtes "
the present standard of value, at the othce OF ne
state treasurer of said state, on the secon1 uaJ
of July nineteen hundred eighty-hve, subject.
however To redemntion by lot as in this act
hereinafter provided. The interest aecrulhg on
all of said bonds that shall be sold shall De pay
able at the office of the treasurer or the state
on the second day of January and the seeono
day OF July of each year after the saIe OF @ ens
from the date Of said bonds all bonds shall cease
to bear interest, and likewise all nonos re4esnaer e
by lot as hereinafter provided shall cease 70 pear
interest according to the provisions 0. aHi So1tb
and the state treasurer shall call IN anu IolLn
MONEYS mtn pay N tbe San Diego seawa sinking fund
provided for in this act and he snail on IIe udte
OF the maturity OF sad9 DoheS 1e,d All bonds re-
manning unsold SHALL at the date or tne maturity
thereof be by the treasurer OF the STATE S
and destroyed. All bonds issued pursuant 10 W tSs
provisions of this act shall be signed Dy tne
governor of this state eountersigned by the state
controller and iDdorsed by the state treasurer
and the said bonds shall be so signed. counter
signed and indOrsed by the orncers VINO are N
office on the second day OF July. 1lnstegn m ba
the great seal of the State of California I'M
pressed thereon, and said bonds signed. counter,
be and constitute a valid and binding obligation
upon the State of California though the sale
thereof be made at a date or dates after the per-
signing. eountersigning and lndorsing, ,O OF
either thereof. shall have ceased TO De an IN
cumbent of said office sr Offices
Sec 3 Appended to each Of said bonds there
shall be interest coupons so attached that the
same NAV be detached without injury mutila-
tiop of said bonds and said coupons shall be
consecutiyely numbered and shall bear the litho-
graphic signature Of the state treasurer VINO
Shall be in office the second day OF July,
paid on any of said bonds for such time as may
intervene between the date Of said bond and
the day of sale thereof, unless said accrued
interest shall have been. BY the purchaser Of
said bond, paid to the state at the time OF
such sale
Sec. s. The sum of one thousand Ave hun
~ afad Orff Of n n
moneys in the state treasury not otherwise sp-
propriated 10 pay the expense that may be In
bonds prepared. The state controller is hereby
authorized and directed to draw his warrant
for the expense incurred In preparing the SAID
bonds. and the state treasurer IS neEepy unecteo
to pay the same
Sec. f. When the bonds authorized to be Is
sued by this act shall have been signed, eoun-
vided the state treasurer shall sell the same for
cash TO the highest bidder in such parcels and
numbers as the governor of the state shall
direct provided a resolution requesting such
sale shall have been adopted by the board or
state harbor commissioners for San Diego bay.
and. said board shall not pass such resolution
until in their judgment the actual harbor re-
ceipts and those reasonably anticipated viii
justify such sale OF bonds and the consequent
Increased burden on harbor receipts. Said resolu-
ton shall specify the number Of bonds neces-
sary to produce the amount Of money which, In
the Judgment of said board of harbor commission
ers shall be required at such time and the
governor Of the state shall direct the state
treasurer to sell Sucl NUMBER OF SAID ponds TO
raise said amount of money. and that said
bonds shall be sold in consecutive, numerical
order The state treasurer shall not accept any
bid which is less than the par value OF the
bond plus the interest which has accrued thereon
between the date of sale and the last preceding
interest maturity date. The state treasurer may
at the time and place fixed by him for such
sale continue such sale to the whole or any
part of said bonds to such time and place as
he may at the time Of such continuance deslg-
nate Before Offering any of said bonds for sale
the state treasurer shall detach therefrom all
coupons which have matured will mature
before the date fixed for said sale. The state
treasurer shall give notice of the time and place
of sale bys publication in two newspapers pub
lished in the city and county Of San Francisco
one newspaper published In the city of Los
Angeles one newspaper published in the city Of
San Diego and newspaper published in the
CITY of Sacramento, once a week for four weeks
next preceding the date fixed for such sale In
addition to the notice last above provided for
the state treasurer may give such further notice
as he may deem advisable. but the expenses and
cost of such additional notice shall not exceed
the sum of five hundred dollars for each sale So
advertised. The cost of such publication shall
he maid out Of the San Diego harbor improve
for that purpose. and the treasurer must pay the
same The proceeds OF the sale of such bonds
shall be forthwith paid over by said treasurer
into the treasury, and must be by him kept in
q separate fund to be known and designated as
the t.San Diego Seawall Fund.- and must be
used exclusively for the construction of a sea
wall wharyes. piers, state railroad, spurs. bet
terments and appurtenances thereto on the water
front of the bay of San Diego. Drafts aud