The San Francisco call., 1910-10-31
ASSEMBLY BILL NO. sso

Passed the Assembly, March 4, A. d. 1909
Clio Lloyd, Chief Clerk of the Assembly.
Passed the Senate. March H. A. D. 1909
Lewis A. Hilborn, Secretary Of the Senate.
This bill received by The Governor, this
20 day of March, A. d. 1909. at IL o'clock
m. E. C. Cooper. Private Secretary OF the Gov
ernor.
Chapter 3s3.. An act authorizing the con-
of system of state highways in the state Of
California;. specifying the work. fixing the pay
pended, therein; providing for the issuance and
sale of state bonds to create fund for the con-
struetion and acquisition Of such system: ere ere,
bonds; and providing for the submission Of this
act Ths to aeoOs ote Of Of the the people -
sented in senate and assembly, do enact as
follows:
Section l. 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
payment of the cost of the construction ac-
State of California is hereby authorized to in
Indebtedness in the manner provided by
this act in the sum of eighteen million dollars.
Immediately after the issuance of the procla-
nation of the governor, as provided In section IL
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 1900 incgsiye m & ana to s bear The, the date Of
said bonds shall not exceed the sum Of eighteen
million dollars and they shall bear interest at
date of issuance thereof. The said bonds and
the interest thereon shall be payable in gold
coin of the United States of the present standard
of value at the office of the treasurer of said
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
oa h Of % n eaeh
every year thereafter until and including the
third dsa said Bonds that soS sha
be payable at the office OF the treasurer Of the
state on the third day Of January and the third
dav of July of each and every year after the
sale of the same. The interest on all bonds
issued and sold shall cease on the day Of their
shall on the day Of their maturity be paid as
herein provided and cancelled by the treasurer
st the date OF the maturity thereof be By the
treasurer of the state Cancelled and DESTROYED
AL c shall be By the as of tb1
state. countersigned by the state controller and
bonds shall be SO signed countersigned and en-.
dorsed by the officers who are In office on the
third day Of July isll .1 and ID each sS Of said bonds
fornia impressed thereon. The said bonds.
gne OI1teTsig9s l ses ss and m sealed
tute valid and binding obligation upon the
Of fs ar dsfss e e sale ale thereof be
signing countersigning and endorsing. or either
of them. shall have ceased to be the incumbents
of said Office or offices.
Sec. 2. Appended to each OF said bonds there
shall be interest coupons SO attached that the
same may be detached Without injury to or
be consecutively numbered and shall bear -- the
iithographed signature Of the state treasurer
1911 No interest shall be paid on any of said
bonds for such time as may intervene between
Hereof. unless such accrued interest shall baye
been. by the purchaser Of said bond, paid to the
state at the time Of such sale.
. Tharq in
appropriation bill sufficient money to defray Ali
expenses that n shall ss o saS S the
az act pr provided : = LUIS
to he issued shall have been signed co1nter
signed endorsed and sealed as in section one
In such parcels and numbers as the governor of
the state shall direct. to the highest bidder for
cash. The governor Of the e., state shall issue to
after being requested SO to o,sthrough and by
resolution re- M duly adopted and passed by 4 ma
Specify the amount Of money which. in ''ii the
udgmde1t oulfed at such time and the governor Of the
state shall direct the state treasurer to sell such
rase said amount Of money and that said bonds %
shall be sold in consecutive numerical order
with tne shs, nrsT iOuF our hundred thereof
which is less than the par value Of the bond plus
the interest which has s. accrued thereon between
maturity date The state treasurer may at the
time and place fixed by him for said sale con-
finue such sale as to the whole or any part Of
the bonds offered to such time and place as be
nav at the time of such continuance desirna f.
Before offering any Of said bonds for SALE the
said treasurer shall detach therefrom ali cou-
pons which have matured or will mature before
the date fixed for such sale. The state treas
lrer shall give notice Of the time and place OF
sale by publica tion in two newspapers published
one newspaper published in the city OF Oakland
and in one newspaper published In the city OF
yos Angeles and in one uewsuaper y1uhTfebn6 q,