Amador ledger., 1910-10-14

iuuu on contr0llerS warrants. duly drawn for
that purpose The proceeds of the sale Of such
bonds snlll be forthwith paid over by said
trGuSu"nr INTO the reasurV. pud rargt bo bV
nun Kept in % sep0rate fund TO be known and
desisnated as the ''Indis Basin fund" aod
uuuSt b' used exclusively for the acquisition Of
| INC areD described IN the act referred to In sec
tlnn hereot Drafts and warrants upon sail
| iuud SNAIL I've drawn upon and shall be paid out
OF s'td fund In the same manner as drafts and
| WArrWrtS are drawn upon and paid out of the
san Frauotscj Harbor improvement Fund"
| SEC y For the PAYMENT OF the principal and
interest OF said bonds sinking fund, to be
| known and designated as the India Basin
Sinking Fund shall be, aud the same is here.
| Dy creNcu, rs follows. to wit; The stWte
treasurer shall, on the first day of each
and every month after the second day Of
| Decembpr A. d. 1928 take from tho
" san Francisco harbor Improvement fund. g
such sum u.s. multiplied by the the time the
bonds then sold and outstanding have tOruu
| will equal the principal of the bonds sold and
| outstandtngat ~ the time said treasurer shall so
take sail sum from said San Francisco harB9r
Improvement fund, less the amount Heretofore
taken therefrom for said purpose: aud he shall
| place the sum IN the India basin sinking fund
created by this act. Said state treasurer shall
| on controllers warrants duly drawn for that
| purpose, employ the moneys in said sinking
Innd in the purchase of bonds Of the United
| States. orof the State OF California. or of the
| several counties or municipalities Of the State
| of California, whicn said bonds shall be Kept in
| u proper receptacle appropriately lnbeled; but
| he must always keep on hand a suffcient
amount Of money in said sinking fund with
| bonds herein provided TO be issued as may have
| heretofore been sold. Aud to provide means
| for the payment Of interest on the bonds that
| may Ce sold and outstanding, said treasurer
| shall monthv taGe from the San Francisco har-
| hOr improvemenG fund, and pay into said In
| din basin sinking fund. an amount equal to the
monthly interest then due on all bonds then
| sold, delivered and outstanding The board of
| state harbor comTss toner's is hereby author
| lied and directed by the collection of dockage
tolls, rents wharfage and cranage, to collect
| n sum of money Sutfictent for the purposes of
| this act over ami above the amount limited
| by section Two thousand five hundred AMI
] twentysix Of the Political Cole of the state
! of CALIFORNIA; Between the first and tenth
! day of November, in the year nineteen hun
| dred and forty. and between the first and
/ tenth day of November OF each year there
| after until the maturity of said bonds the said
| treasurer shall, in the presence CT the COVER
| nor, proceed to drsw by Tot such an amount
| of bonds as shall be requisite to exhaust as
| nearly as may be the amount in said sinking
fund at that time, and shall thereupon and
| before the tentht0ay of December following,
! give notice by public advertisement to he in
serted twice n week for two weeks in
two newspapers published in the city and
| county eff San Francisco, and also in one
| newspaper published ia the city of Oakland,
| ana also in one newspaper published in The
city of Los Angeles. ana also in one news
paper published in the city of Sacramento,
| stating the number of bonds so drawn, and
that the principal of said bonds shall be
| paid on presentation to the treasurer on or
| before the second day of January, following,
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 coupons thereon. and
each year, beginning with the year nine
| teen hundred and forty, the said treasurer
| shall, in the manner aforesaid, proceed to
| draw by lot such an amount of bonds IS shall
| be eQuiSietS'eXhauSt tIS nearly aS may be
| the amount in said sinking fund, and pro-
| coed in the manner hereinabove stated, After
the payment of all said bonds, the surplus
| or balance remaining in said sinking fund, if
any there be,shall forthwith be paid into the
| San Francisco harborim provement fund. AT
the time of the respective drawings by lot, as
aforesaid, and also at the maturity of said
| state bonds, said treasurer shall sell the
| United States or other bonds then in said
sinking fund, at governing market rates, after
advertising the sale thereof in the manner
herein before provided for the sale Of bonds
hereby authorized to be issued. and shall use
the proceeds for the payment of such bonds
as may be drawn by lot, and at the maturity
OF said bonds outstanding shall pay and re-
deem said matured outstanding bonds ont of
said money in said fund in eXtinguishment
of said bonds on controllers warrants duly
drawn for that purpose.
SEC g. The state controller aud state treas.
uref shall keep full and particular account and
record OF all their proceedings under this act.
and they shall transmit TO the governor I'm alb
Stract of all such proceedings thereundsr, with
an annual report to b9 by the governor laid he
| fore the legislature biennially; and all books
and papers pert lining to the matter provided
for in this act shall at all times be open to the
| Inspection OI any party Interested or the COVER
| nor or the attorney general, or committee Of
either branch Of the legislature ora joint com
mittee OF BOTH or any citizen Of the state
! SEC. Z. It shall he the duty OF the state treas.
urer to pay the interest Of said bonds, when the
same falls due, out of the sinking fund provid-
| ed for in this act, on controllers warrants duly
| drawn for that purpose.
SEQ S. This act, if adopted by the people,
shall take effect on the tn rty- first day of Decem-
| ber, a. D. nineteen hundred 9nd ten, as TO ali
| those l. a n
sary for It's submission to the people, and For
returning canvassing, and proclalming the
votes, and as to said excepted provisions this act
| shall take effect Immediately.
SEC. 8. This act shall be submitted to tho peo-
pie of the state Of California for their ratification
at the next general elaCtiOn to be holden IN the
| month of November A. u. nineteen hundred and
| ten, ana all ballots at said election shall have
prinle thereon, the words, For the India Basin
! Act, and in the same square, under said words
| the following in breyiertype: "rhis act provides
for the acquisition OF tidal basin in the bay OF
san Francisco Tor harbor purposes and for the
payment of al costs thereof out Of the san
Francisco Harbor Impro, ement Fund" In the
square Immediately below the square containing
said words there shall be printed on said bal
| lot, the words against the India Basin Act"
and Immediately below said words against the
! India Basin Act" in brewer type. shall be
printed: This act provides rpr the acquisition
Of n tidal bas in the bay OF san Francisco for
harbor purposes, and for The payment of all
costs thereof out of the "San Francisco Harbor
improvement Fund" Opposite the words For
/ tlu lhulu 1u5n Acl, ana - Against the
India Basin Act" there shall be LEFT
spuces IN which the voters may make O.
stamp cross to Indicate whether they vote
for or against said at ana those voting for
said act shall do 80 by placing cross opposite
The words " For the India Basin Act" ana ali
those voting against said act shall do 50 By plac
| inga cross opposite the words against tho India
| Basin Act' The governor of this state shall IN
clude The submission of this net 10 The people, as
| aforesaid in his Proclamation calling Tor said
| genera election.
SEQ 10. The votes cast for or against this act
| shall be counted returned ana cdnyHssad and
| declare I'm the same manner uud subject to the
Same rules as votes cast Tor state OflcArs; and II
! it appear that said ACT shall have resolved u
majority of all tae votes cast tor ana against il
at said election aS aforesaid, then the same
shall have effect rs herainborora p"1ydol, and
| shall bo irrepealabe until the principal aud in
InrasL nf thn llnhiliIIna nnrnin ed ahnll