The San Francisco call., 1910-10-17
SENATE BILL NO. 4s4.

$50 o'clock a., C. F. Curry. Secretary 0i
SENATE BILL NO. 464.
Passed the Senate. March II. A. D. l9oS'
Lewis A. Hilborn. Secretary OF the SehaeeI Iooo
Passed the Assembly. March 20. A. u. ASo7
This bill was received by the Governor. this
23d day of March. A. D. 1909. at ? oei1Ss ths
p M E. G. Cooper, Private Secretary Oh 'ne
Chapter 62s An Act to provide for the issue sue
and sale Of state bonds TO create auha ha-hor bo
the construction by the board Of state nalDos 20
commissioners for the bay Of San Diego Dg,T ~
harbor improvements consist of seaWan' sst
weaFves piers state rsiTo4S II aSs sap@y Of San
Diego; to create sinking fund 10 hor antics sn5 Of
sss ps Of said b bonds s6O to serso sps :hs to make
appropriation of one thousand Ave nunogsd 1s;d
dollars for the expense e gGDanas ggaDmsson Of
this act to vote Of the peopie-
The people of the State of California repressn.eO
in senate and assembly, do enact as foiiows
Section I. For the purpose OF provioing an an
thorized TO be incurred by the board OF SSaes @ Co.
Dor commissioners for the bay OF san th srsction
spurs, betterments and sppurtenances IN the the
million five hundred thousand dollars, wnien S~su
seawall, wharves, piers, state raliroa1i;s Sca-J
betterments and appurtenaAces tSe S niaoo bav
of state harbor commissioners for san Deso @ oay
are hereby empowered TO construct In the 5 man
ner authorized by law, at cost not 70 eAe ~
one million Ave hundred thousand dollars, tn tne
state treasurer shall. Immediately aIter lo ~
issuance of the proclamation OF the govsrnor pAT AZ
yided for in section ten of this act, prepare NJ
teen hundred suitable bonds or the sta.s
California in the denomination OF one tnousanu sss
dollars each to be numbered IRON oSe s .he second
day of July, nineteen hundred eleven tne ~
tai issue Of said bonds shall not eaeesI s,srs and
they shall bear interest at the rate OF loul p
cent per annum from the date OF Issuance LII
0f Mo said f0n6 and q
be payable in gold coin of the United states oa
the present standard Of value, at the ofnce OF
state treasurer Of said state, on the seconu uaJ
of July, nineteen hundred eighty subject,
however, to redemption by lot as IN TINS aSs
provided The In os sssI be
able at the offcs of the treasurer or tne S sla.S
on the second day OF January % ana sale .Ie Of the
same. At the expiration Of seventy7Iour, yesls y
from the date of said bonds al bonds
by lot as hereinafter provided snail cease 80 pea
interest according to the provisions OF LIE az
and the state treasurer sna ma sane ea ~ out Of the
moneys In the San Diego seawan slnKlns Lune 1.e =
pr @ n Of ss bonds cancel and destroy
all bonds not heretofore sold All ponos r.
naming pnsold shall at the @ oate . Oh Cancelled
and destroyed. All bonds issued pursuant 70 Ine
provisions Of this act shall be signed oy Ine
governor of this state countersigned by the state
controller and indorsed by the state treasurer
and the said bonds shall be so signed, counter
signed and d. sCsed yv Ss ts o Gne
dred eleven, and each Of said bonds shau nave
the great seal Of the State OF GaIrGrn a,,,ta1 @
signed. indorsed and sold as herein provided snal
be and t sta - caorDa apd houh the sale
thereof be made at date or dates arter tne per
son so signing, countersigning and indorsing. or
either thereof, shall have ceased to De an IN
cumbent Of said office or Offices
Sec. 2. Appended to each OF said bonds there
shall be interest coupons so attached that rne
ton of said bonds. and said coupons shall be
consecutiveIy numbered and shall bear the htno-
sbaiI be IN Office on the second day Of July
nineteen hundred eleven. No interest shall De
paid on any of said bonds for such time as may
the day of sale thereof. unless said accrued
said bond. paid to the state at the time OF
such sale.
Sec. 8. The sum of one thousand ave hum
dred dollars is hereby appropriated out OF any
moneys in the state treasury not etneswise Sc ap
Cured by the state treasurer In having SAID
bonds prepared. The state controller Is hereby
authorized and directed TO draw MS IVA warssHs sa1d
bonds, and the state treasurer Is nerepy directed
to pay the same
sued by this act shall have been signed, eoun-
tersigned and endorsed. as in section 1 pro
vided the state treasurer shall sell the same Tor
cash to the highest bidder in such parcels and
numbers as the governor Of the state shall
direct proyided a resolution requesting such
sale shall have been adopted by the board Of
state harbor commissioners for San Diego bay.
and said board shall not pass such resolution
until in their judgment the actual harbor re-
CENTS and those reasonably anticipated, will
Justify such sale of bonds and the consequent
Increased burden on harbor receipts Said resolu-
tion shall specify the number OF bonds neces
sary to produce the amount of money which, in
the Judgment of said board of harbor commission
ers shall be required at such time and the
governor of the state shall direct the state
treasurer 10 sell such number OF said bonds TO
raise said amount OF money. and that said
bonds shall be sold in consecutive. numerical
order The state treasurer shall not accept any
hid which is less than the par value OF the
bond Mus the interest which has accrued thereon
between the date of sale and the last preceding
interest maturity date The state treasurer may,
at the time and place fixed by him for such
sale continue such sale as 70 the whole any
mart OF said bonds such time and place as
he NAV at the time of such continuance desig-
nate Before offering any Of said bonds FOR sale
coupons which have matured or will mature
before the date fixed for said sale. The state
treasurer shall give notice OF the time and place
Of sale by publication IN two newspapers pub
one newspaper published in the city of Los
Angeles one newspaper published in the city Of
San Diego and one newspaper published in the
cifv Of Sacramento, once week for four weeks
addition to the notice last above provided for
tLa state treasurer may give such further notice
as he NAV deem advisable but the expenses and
cost Of such additional notice shall not exceed
the sum OF five hundred dollars for each sale 50
advertised The cost OF such publication shall
he maid out of the San Diego harbor improve
nent fund on controllers warrants duly drawn
for that purpose, and the treasurer must paw the
shall be forthwith paid over by said treasurer
s,t-- +ba treasury. and must be by him kant IN.