The San Francisco call., 1910-09-12

Seawan Sinking Fund.-
Sec. 3. For the payment of the principal
and interest OF said bonds sinking fund to
be known and designated the Second San
Francisco Seawan Sinking Fund.- shall be- and
The state treasurer, after the second day Of
July, nineteen hundred and twenty-nine shall
after, after the sale of said bonds take from
the San Francisco harbor improvement fund such
sum as, multiplied by the time in months the
bonds then sold and outstanding have to run
will equal the principal Of the bonds sold and
outstanding at the time said treasurer shall so
take said sum from said San Francisco hsrhor
improvement fund less the amount theretofore
taken therefrom fer said purpose and he shall
place the in the second San Francisco sea-
wall sinking fund created by this act Said
state treasurer shall on controllers warrants
duly drawn for that purpose, employ the MONEYS
in said sinking fund in the purchase of bonSs
fornia or of the several counties or rounio,ii
ties of the State of California whicn said bpnds
shall be kept in proper receptacle appronri-
stely labeled: but he must keep always on hand
sufficient amount Of money in said sinking
fund with which TO pay the interest on such of
the state bonds herein provided to be issued as
vide means for the payment of interest on fha
bonds that may be sold and outstanding said
cisco harbor improvement fund. and nav into
said seawall sinking fund, amount eousi 70
sold delivered and outstanding. The hoard of
state hsrbor commissioners hereby author
tolls. rents. wharfage and cranage to collect q
sum of money sufficient for the purposes o@
~
section two thousand FIVE hundred and fwen+2s ~
six OF the Political Code Of the State of CT,
fornia. Between the first and tenth da1 ns
May, in the year nineteen hundred and fffv.ono %
and between the first and tenth dav Of Wsy
of each year thereafter until the mstnrit pay ~
said bonds. the said treasurer shall in +be
presence Of the governor proceed to draw by
lot such an amount OF bonds as shall ~
requisite 70 exhaust as nearly as NAV he +be
amount in said sinking fund at thar fine enS
shall thereupon and before the tenth dsr ne
June following. give notice by public sdvegt,ol ol
ment 10 be inserted twice week for tro
weeks in two newspapers published in The c,tp
ana county OF San Francisco, and also i'm ono
newspaper published in the city of Oakland
and also in one newspaper published in the cjty
Of Los Angeles. and also in one newspaper pub
lished in the city of Sacramento stating tbe
number OF bonds drawn and that the nri5ci,,aI
of said bonds win be paid presentation TO
the treasurer on or before the second dav ~
July, following, and that from and after yspcb
last named date. all interest upon bonds tins
drawn shall cease, and it shall be the dnty
OF the treasurer soon 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
nineteen hundred and ifty-one. the said treas
shall. in the manner aforesaid. proceed
TO draw By lot such amount of bonds as
shall be requisite TO exhaust as nearly as NAV
be the amount in said sinking fund, and proceed