Amador ledger., 1910-10-21
Notice to Voters.

Notice is hereby given to the electors o. the
State Of California that the following acts will
be submitted 10 the people Of the State Of Cali.
fornia for their ratification at the next general
election. TO be holden on the eighth day OF NO
vember, A. D. 1910, to wit:
SENATE BILL NO. ass.
Passed the Senate March s, ID 1909 Lewis
A. Hilborn, Secretary OF the Senate.
Passed the Assembly, March is, A. ID. 1909.
Clio Lloyd, Chief Clerk of the Assembly.
This Bill was received by the Governor, this
18th day Of March, A d. 1909, at II o'clock q. m.
10, @. Cooper, Private Secretary OF the Governor
CHAPTER $50. An act to provide for the issu.
ance and sale Of state bonds to create a fund
for the Improvement of san Francisco harbor
by the construction by the board OF state
harbor commissioners OF wharves, piers, state
railroad, spurs, betterments and appurten-
ances, 1. ID necessary dredging and filling In
connection Herewith in the city and county
Of San Francisco; to create sinking fund
for the payment OF said bonds; to define the
duties of state officers in relation thereto; TO
make an appropriation of five thousand dol
lars for the expense OF printing said bonds
and to provide for the submission OF this
The people of the state Of California, repre-
sented In senate and assembly do enact as
SEcTIoN |. For the purpose OF providing q
fund for the payment OF the indebtedness here.
by authorized to be incurred by the lboard OF
state harbor commissioners for the erection OF
wharves, piers, seawall, state railroad, spurs,
betterments and appurtenances, and necessary
dredging and filling in connection Herewith,
in the city and county of San Francisco, at
a cost not to exceed nine million dollars
(which said wharves, piers, sea wall, state
railroad, spurs, betterments and appurtenances
and necessary dredging and filling in cOnnec-
tion Herewith, the board OF state harbor
commissioners are hereby empowered TO con-
struct and do, in the manner authorized by
law, and at cost not TO exceed said nine
million dollars). the state treasurer shall i'm
mediately after the issuance of the procla-
nation Of the governor, provided for In sec
tion 10 hereof, prepare nine thousand suit
able bonds of the State of California, in the de-
nomination Of one thousand dollars each. The
whole issue of said bonds shall not exceed the
sum of nine million dollars, and said bonds
shall bear interest at the rate OF four per
centum per annum. from the date Of issuance
thereof, and both principal ana interest shall
be payable in gold coin of the present standard
value and they shall be payable at the office
of the state treasurer at the expiration OF
seventy-four years from their date, subject,
however, to redemption byl lot as in this act
date the second day of July, AID nineteen hun
dred and eleven, and shall be made payable
on the second day of July, nineteen hundred
and eghty-hve. The interest accruing on
such of said bonds rs are sold, shall be due and
payable at the Office of the state treasurer on
the second day of January, and on the second
day OF July, OF each year after the sale OF the
same; provided that the first payment Of In
terest shall be made on the second day o. July
nineteen hundred and twelve. on so
many OF said bonds as may have been thereto
fore sold at the expiration of seventy -four years
from the date of said bonds, all bonds sold shall
cease to bear interest. aud likewise all bonds
redeemed by lot shall cease to bear interest as
in this act provided, and the said state treas
urer shall call in, forthwith pay and cancel the
same out of the moneys in the second San
Francisco seiwall sinking fund provided for in
this act, and he shall, on the first Monday OF
July, nineteen hundred and eighty-ive,
also cancel and destroy all bonds not thereto
fore sold. All bonds issued shall be signed by
the governor. and countersigned by the control
Ter, and shall be endorsed by the state treas
urer. and the said bonds shall be so signed,
countersgned and endorsed by the officers who
are in Office on the second day OF july 1911, and
each OF said bonds shall have the seal Of the
state stamped thereon. The said bonds signed,
couutersigned and endorsed and sealed, as
herein provided, when sold shall be and conStf-
tute valid and binding obligation upon tine
State of California, though the sale thereof be
made at o date or dates after the person sign
ing. countersigning and endorsing or any or
them, shall have ceased TO be ihe incumbents
of such office or offices. Each bond shall contain
a clause that ii is subject to redemption by lot
after the year nineteen hundred and fifty.
SEC. 2 Interest coupons shall be attached to
ach of said bonds, SO that such coupons may
beremoved without injury to or mutilat1on OF
the bond. Said coupons shall be consecutlvely
numbered and shall bear the Autographed sig
nature OF tne stare treasurer VINO Snali % DC IL IL
interest on any Of said bonds shall be paid FOL
any time which may intervene between the date
of any of said bonds and the issue ana sale
thereof TO purchaser, unless such accrued In,
terest shall have been, by the purchaser OF SAID
bond, paid to the state at the time of said sale
SEC. 3, The sum OF five thousand dollars Is
hereby appropriated to pay the expense that
may be incurred by the state treasurer In hav-
ing said bonds prepared. Said amount shall be
paid out of the San Francisco harbor improve
ment fund OH controllers warrants, duly drawn
for that purpose.
SEC T. When the bonds authorized to be is
sued under this act shall be duly executed
they shall be by the state treasurer sold AT
public auction to the highest biddersfor cash
in such parcels and numbers as said treasurer
shall be directed by the governor OF the state
under the seal thereof. after a resolution re-
queSting such sale shall have been adopted by
the board of state harbor commissioners, and
approved by either the governor OF the state OF
mayor of the city aud county OF San Francisco
who shall only approve the same when In thell
Judgment the actual harbor receipts, and those
reasonably anticipated, will justify SUCH sale
OF bonds and the consequent increased burden
on harbor receipts; but said treasurer must re
ject any and all bids for said bonds, or for any
of them, which shall be below the par value Of
said bonds so offered, plus the interest whlcf
has accrued thereon between the date OF sale
and the last preceding interest maturity Date
and he may, by public announcement at the
time fixed for the sale. continue such sale as
TO the whole of the bonds offered, or any par
thereof offered, to such time and place as he
may select.Before Offering any OF SAID bonds io
sale the said treasurer shall detach therefron
all coupons which have matured or Will ma
ture before the date fixed for such sale
Due notice OF the time and place OF salt
of all bonds must be given by said treas
urer by publication in two newspapers pub
lished In the CITY and county OF San Francisco
and also by publication in one Newspaper pub
lished in the city of Oakland, and by publica
tion in one newspaper published in the city o
Los Angeles. and by publication in one news
paper published In the city OF Sacramento, once
a week during four weeks prior to such sale
In addition TO the notice last above provided
for. the state treasurer may give such further
notice as he may deem advisable, but the eX
pense and cost OF such additional notice
Shall not exceed the sum of five hundred dol
lars (S500t0) for each sale so advertised
The cost OF such publication shall be paid ou
of the San Francisco harbor improvement fund
on controllers warrants duly drawn for tina
purpose The proceeds of the sale OF sucl
bonds. except such amount as may have
been paid as accrued interest thereon
shall be forthwith paid over by said treasure
into the treasury, and must be by him kept II
"a separate fund, TO be known and designated ~
the Second San Francisco Seawall Fund" an'