Amador ledger., 1910-11-04

sinking fund at that time. and thereW,on
and before the tendh day Of December fol-
lowing give notieeNy public advertisement
two newspapers Published I'm the county OF
san francisco, and also In one newspaper
published in the city Of San Diego, and als1
fn one newspaper published i'm the city o.
Los Angeles, stating the number Of bonds SO
drawn, and the principal OF said bonds wis
he paid on presentation to the treasurer on
-r before the second day of January, follow.
ing. and that from and after such last named
date all interest upon bonds thus drawn shall
cease, and it shall be the duty of the treas
urer as soon as said bonds so drawn by lot
are surrendered to him and paid to cancel the
same, and the interest couDons thereon, and
each year, beginning with The year nineteen
hundred and fifty, the said treasurer shall, in
the manner Aforesaid, proceed to draw by lot
such an amount of bonds as shall be requisite
TO exhaust as nearyas may be the amount
IN said sinking fund, and proceed IN the man
ner hereinabove stated. After the payment
of all said bonds, the surplus or balance re.
dnaining in said sinking fund. If any there
he, shall forthwith be paid into the san
Diego harbor Improvement fund. Atthe time
of the respective drawings by lot, as alOre
said, and also mt the maturity Of said state
bonds, said treasurer shall sell the United
States or other bonds then in sadd sinking |
fund, at governing market rates. after adver- |
tisng the sale thereof i'm the manner beroin- |
before provided for the sale of bonds hereby |
authorized TO be issued, 'and shall use the |
proceeds for the payment Of such bonds ns
may be drawn by lot, and at the maturity of
said bonds outstanding shal pay and redeem |
moneys in said fund in eXtinguishment Of |
said bonds on controllers warrants duly |
drawn for that purpose.
SEC 9. The state cont troller and the s..,te
treaSuserIshal keep full and particular ac-
count and record fall their proceed .ngs un-
der this act, and they shall transmit TO the |
governor an abstract of all such D. oceedngs
Hereunder with an annual report, to be by
the governor laid before tho Legislature bien-
nially; and al! books and papers petaning
10 the matter provided for in this act shall at
all times be open to the inspection OF any
party interested or the governor, or. the at
branch Of the legislature, or joint commit
tee OF both or any citizen of the state,
SEC. 7. 1t shall be the duty of the. state
treasurer to pay the interest of said bonds,
when the same falls dine, out of the sinking
fund provided for in this act, on controllers
warrants duly drawn for that purpose
SEC. s, This act, If adopted by the people,
shall take effect ion the thrty-first day of
December, nineteen hund:ed and ten, as to
all its provisions, except those relating to and
necessary for its submission TO the people.
and for returning, canvassing and proclaim
ing the votes, and as to said excepted pro-
visions tHis act shall take effect imme-
SEC.9 This act shall be submitted to the
people of the state of California for their
ratificaSion mt the next general election, to
he holden in the month of Nove,nber nine
teen hmndred aud ten, and all ballots at said
election shall have printed thereon, and at
the end thereof, the words -" For the san
Diego seawal act" and in a separate line
under the same woids, " Against the San
Diego seawaIl act" and opposite said lines
there shall be left spaces in which the voters
NAV make or stamp cross to indicate
whether they vote for or against said act and
those voting for said act shal do so b. plac-
ing a cross opposite the words "FOr the San
Diego seawall act" and all those voting
against the said act shall DO so by placing a
Diego seSwa If % 'nf of
state shall include the submission of this
act to the people, as aforesaid in his procla-
nation calling for said general election.
shall be counted returned and canvassed and
declared in the same manner and subject to the
ii appear that said act shall have received
majority of all the votes cast for and against it
AT said election, as aforesaid then the same
shall have effect as herei before provided and
shall be irrepe liable until the principal and in
terest of the liabilities herein created shall be
paid and discharged, and The governor shall [
make proclamation thereof: but if majority Of |
the votes cast as aforesaid against this act
then the same shall he and become void.
SEC IL. II shall pe the duty of Che secretary
of state to bave this act published in at least
newspaper in each county, or city and county. If
one be published therein, throughout this state
for three months next proceeding the general
election to be holden in the month of Novemb II,
nineteen hundred and ten. the costs of publica-
tion shall be paid out of the San Diego harbor
improvement fund ,0n controllers warrants duly |
drawn for that purpose.
SEC II. The state controller and state treas
urer are hereby directed to transfer from any
moneys paid into the San Diego seawall fund
under the provisions Of this act to the general
fund of the State Of California, any and all sums
of money heretofore transferred from said gen.
eral fund to the san Diego seawGll fund. together |
with interest on said moneys from the d3te of |
transfer at the rate Of four per cent per annum.
SEC 13. This act may be known and cited as
the "San Diego seawall act of 1907
w. r. PORTER,
President of the Senate
p A. STANTON.
Speaker Of the Assembly
Approved April 18th, A. ID. 1909.
j. N. GILLETT. Governor
Endorsed: Filed in the office of the Secretary |
of state the 9TH day of April. A. ID. 1899 at II