Amador ledger., 1910-10-14
SENATE BILL NO. 227.

Passed the senate February II, A. d. 1909.
Lewis Hilborn,, Secretary of the Senate.
Passed the Assembly March 10, ID. 1909.
Clio Lloyd, Chief Clerk of the Assembly.
This Bill was received by the Governor, this
18th day.of March, A. ID. 1909, at 3 O'Clock p. m.
E. Q. Cooper. Private Secretary OF the Cover
nor
CHAPTER d07. An Act to provide for the issu-
ance and sale of state bonds to create fund
ior the acquisition by the board OF state har-
Dor commissioners of a necessary area for u
tidal basin for wharves, docks, piers, harOorS
and appurtenanceS in the city and county of
San Francisco to create asinking fund for the
payment Of said bonds; aud defining the du-
ties OF state officers in relation thereto; MAX
ing an appropriation of one thousand dollars
for the expense of printing said bonds; and
providing for the submission OF this act to "a
vote OF the people
The people of the State of California repre-
senteo in senate and assembly. do enact as
tollowS
SECTION For the purpose of providing n
fund for the payment of the indebtedness auth
orized to be incurred by the board of state har-
boz commissioners for the acquisition OF the
necessary area for u tidal basin extending the
area OF India basin on the water front OF the
city and county of San Francisco, lbs provided in
an act entitled AN act to authorize and direct
the board Of state harbor commissioners to in
Stitut0 condemnation proceedings against GER
tain property north of India basin, and extend
ing to Islais creek in the city and county of San
Francisco, Gnd extending the jurisdiction of
said board over the same, ana providing for
the payment of judgments from the proceeds
Of bonds issued ana sold under the provisions
" an act entitled AN act TO provide for the
issuance and sale of state bonds to create
fund for the, acquisition by the board OF
state harbOr commissioners OF d necessary
area for tidal basin for whGryes docks,
piers, harhors, and appurtenances in the city
and county OF San Francisco; TO create ID sink
ing fund for the payment OF said bonds; and de-
lining the duties of state officers in relation
thereto; making an appropriation OF $1,000 for
the expense OF printing said bonds; and pro
Viding for tie submission OF this act to vote
OF the people, the state treasurer shall. imme-
diately after the issuance OF the proclamation
by the governor. provided for in section 10 here
Of, prepare one thousand suitable bonds of the
Stalo Of Califorpi1, in the denomination of one
thousand dollars each. The whole issue of said
bonds shall not exceed the sum of one illion
dollars, ana said bonds shall bear interest at
the rate Of four per centum per annum, from the
time of the sale thereof, ana both principal and
interest shall be payable in gold coin of the
present standard value and they shall be pay
able ut the ONO Of the state treasurer at the
expiration OF seventy -four years from lheirdate,
subject. however, 10 redemption by lot as in
THIS act hereinafter provided Said bonds shall
bear date tho second day Of January, a, ID.
l0l and SHALL be made payable on the second
day OF January A. j. 1875 The interest
acCrulng on SucA OF SAID bonds as are sold shall
be due and payable at the office Of the state
treasurer on luG second day of January. and on
the second day Of July, Of each year after the
sale OF tho same: provided, that the first pny
meut o! interest shall be made on the second
day OF January, a -. lJi5, on so many of
sad bonds taS have been heretofore sold.
AT the expiration of seYenty-iOIr years from
the date OF said bonds. all houdS sold shall
cease TO bear interest. and likewise all
bonds redeemed by lot shall cGuSe TO bear
interest aS i'm this act provided, ana the said
state treasurer shall GILL IN, forthwith pay and
cancel The same. out of the moneys Ia the India
basin sinking fund provided for IN This act
and he shall on the first Monday of January.
a d. 1855, also cHucel auj destroy all bonds
not heretofore !SOld. All bonds issued shall
be signed by the governor aud counter5igued
by the controller, and shall be endorsed by
the state treasurer, aud each shall huVa the
seal ot the state stamped thereon Each bond
shall contain u clause that 1t is subject to
redemption by lot after the year nineteen hup-
dred and thriy-nlne.
SEC 2-Interest coupons shall be attached
10 each OF said bonds, so that such cOuponS may
be removed without injury TO or mutllation OF
the bond said coupons shall be eonsecutively
numbered amp shall be signed by the state
treasurer. l}uJ no interest on any nf said bonds
shall De paid Tor any time which may intervene
between ihe date OF any of said bonds and the
issue aud sale thereof 10 purchaser
$40. 8 Tho sum OF one thousand dollars is
hereby appropriated to pay toe expense that
may be- incurred by the state treasurer I'm hay
Ing said bonds prepared, said amount shGll be
paid out OF the san Francisco harDnr improve
ment fupd on controllers warrants duly
drawn Tor that purpose
SEQ When the bonds authorized 10 be
issued under this act shall be duly executed
they shall bo sold by the state treasurer at pub
lie auction 10 the highest bidder for cash, in
suCh parcels ana nuhpets hs sdlu slate tFtbH-
urer Shall determines but said treasurer must
reject any and all bids for said bond, or for any
OF them, whicH shall be below the par value Of
said bonds so offered for sale, and he may by
public announcement ~ the place aud time liked
for the sale, for good and Sunlcieut cause, CON
tinue such sale as 10 the whole OF the bonds
offered, or any part thereof Ofe ed TO such tune
ana place as ne may select, not exceeding, how
ever, sixty days. DuG notice of the time and
place ofsale OF all bonds, and OF the pos tpone-
ment OF sale thereof must be given by said
treasurer by publication In two newspapers
published Ia the city aud county OF San Fran
published In the city OF Oakland, and by pub
location IN one newspaper published In the city
OF Los Angeles, ana by publication In one news
paper published IA the city OF sacramento once