The San Francisco call., 1910-10-17
AssEMBLY BIIL. NO. aeo

H2SSeQ f.. A.. d.
Clio Lloyd. Chief Clerk of the Assembly.
Passed the Senate March H. A. d. 1909,
Lewis A. Hilborn, Secretary of the Senate.
This bill was received by the Governor. this
70 day OF March, A. D., 1909, at II o'clock
ernor.
Chapter 3s3. An act authorizing, the con-
efruetson ef ACQUISITION. W maintenance and control
California; specifying the work, fixing the pay
d Drone r the f0r
sale of state bonds to create fund for the con-
struction and acquisition Of such system: ere,
ating a sinking fund for the payment of said
bonds; and providing for the submission Of this
act tho to nso01s gote of Of the the people
sented in senate and assembly, do enact as
follows:
Section 1. system of state highways IN and
for the State of California shall be constructed
and acquired as and in the manner provided by
law by the department Of engineering Of said
state at a cost not to exceed eighteen million
dollars. For the purpose Of providing for the
payment of the cost of the construction ac-
quisition of said system of said highways, the
cur indebtedness in the manner provided by
this act in the Of eighteen million dollars.
immeofatey @ aIter the ISSUANCE or the Proeia
of this act the treasurer of the state shall pre-
pare eighteen thousand suitable bonds of the
State of California in the denomination of one
thousand dollars each, to be numbered from /
to $4,000, inclusive, and to bear the date of
said bonds shall not exceed the sum Of Eighteen
million dollars and they shall bear interest at
rate o f aOe aaa ednag 6S 5
the interest ere thereon On shall II be payable in gold
co Of the e. init o Of Of M ia
state at the times and in the manner following
to wit: The first four hundred of said bonds
shall be due and payable on the third day Of
July 1917 and four hundred of said bonds in
consecutive numerical order shall be due and
every eve ~ year thereafter until and including the
third day. of July. 1861 The interest accruing
be payable at the office of the treasurer of the
state on the third day of January and the third
sale of the same The interest on ali bonds
issued and sold shall cease on the day of their
maturity and the SAID bonds so issued and sold
shall on the day of their maturity be paid as
herein provided and cancelled by the treasurer
of said state. All bonds remaining unsold sha III
at the date Of the maturity thereof be by the
All bonds issued pursuant TO the provisions Of
state eounfersgned By the eonoller and
endorsed BY the state treasurer, and the said
dorsed by the officers who are in office on the
third day of July, 1911, and each Of said bonds
shall have tRs great hereon Of The the State Of
signed countersigned, endorsed and sealed as
praae nS yhsh sDna SGa sb be and eons
state of California, though the sale thereof he
made at date or dates nd after the person
of them. shall have ceased to be the incumbents
of said office or Offices.
K.
shall be interest coupons SO attached that the
same may be detached without injury to or
mutilation Of said bond. The said coupons sha II
be consecutively numbered and shall bear the
autographed signature Of the state treasurer
vino shall be in office on the third day of July
bonds for such time as may intervene between
the date of said bond and the day of sale
thereof, unless such accrued interest shall have
been by the purchaser ofrsaid bond paid TO rhe
state at the time of such sale.
Sec. g. There snail be provided in the general
riafiO IN dsfr
expenses that. shall be incurred by the state
treasurer in the preparation Of said bonds and
act provided
Sec. f. When the bonds authorized by this act
to be issued shall have been signed counter
provided, the state treasurer shall sell the same
In such parcels and numbers the governor of
the state shall direct. to the highest bidder for
On sh The governor of the state shall issue to
fhe state treasurer such direction immediately
sfseI duly adopted and passed. by ana by
jority vote Of the advisory board Of the depart
Of ensnseFtps Of moHey ssa wSss
judgment of said advisory board shall be re-
os n sass sect time Tine .as sps ns % &
number of said bonds as may be required 70
raise said amount Of money and that said bonds
Commencing with the first four hundred theranf
The state treasurer shall not accept anv hid
the interest which has accrued thereon plns
the date OF sale and the last preceding interest
time and place fixed BY him for said sal con .ne
tinue such sale 10 the whole or any mart of
the bonds s e e saeb ts nnd place he
said treasurer shall detach therefrom ali con.
the date xsd for such sale The state treass
urer shall give notice of the time and place Of
in the city and county of San Francisco and IN
newspaper published in the city OF Oakland
and In one newspaper published in the city Of
Los ruh1 e11od Il