Amador ledger., 1910-08-05

1 me cCStS ~ Such publication shall be paid out
! ot the san Francisco harbor Improvement
| fund on controllers warrants. duly drawn for
that purpose. The proceeds VI the sale OF such
bonds shall be forthwith paid over by said
! treasurer into the reasury, and must be by
! him Kept In q separate fund To be known and
designated as the India Basin fund" aud
must be used exclusively for the acquisition Of
the area described in the net referred to in sec
ton hereof Drafts and warrants upon said
tund shall be drawn upon and shall be paid out
OF said fund in the same manner as drafts aud
warrants are drawn upon and paid out Of the
san Francisco Harbor Improvement Fund
SEC. >. For the payment OF the principal and
interest OF said bonds sinking fund. TO be
known and designated aS the India Basin
| Sinking Funi," shall be, and the same is here
| treasurer shall, on the first day OF each
aud every month after the second day Of
December A. y. 1923. take from the
| p" san Francisco harbOr Improvement fund"
such sum as. multiplied by the tine time the
bonds then sold and outstanding have to run
| VIII equal the principal Of the bonds sold and
l outstanding NJ the time said treasurer shall so
take sal sum from said San Francisco hnrbor
improvement fund, less the amount heretofore
taken theretrom for said purpose; aud he shall
place the sum In the India basin sinking fund
created bv this act. Said state treasurer shall,
on controllers warrants duly drawn for that
purpose, employ ths moneys In said sinking
states, nrof the State OF California. or of the
| several counties OF municipalities OF the State
OF California, whicn said bonds shall be kept In
q proper receptacle appropriately lHbeled; but
be must always keep 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 may have
heretofore been sold. And TO provide means
Tor the payment OF interest on the bonds that
shall monthly take from the San Francisco har-
Dor improvement fund, and pay into said In
dta 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 commissioners rs hereby author
lied and directed by the collection of dockage
| tolls. rents, wharfage and cranage, to collect
| n sum of money sufficient for the purposes of
this act. over and above the amount limited
| by section Two thousand five hundred and
| twenty-six OF the Political Code of the State
OF California, Between the first and tenth
day & OF ana snr9e IN me year nineteen cen hun
tenth day Of November of each year there
after until the maturity of said bonds the said
treasurer shall, in the presence cf the COVER
nor, proceed TO draw by lot such an amount
of bonds as shall be requisite to exhaust as
nearly as may be the amount in said sinking
before the tenth day of December following
give notice by public advertisement to be in
serted twice week for twn weeks In
two newspapers published in the city and
county ef San Francisco, and also In one
newspaper published in the city of Oakland,
and also In one newspaper published in the
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 rom 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, ito cancel the
same, and the interest coupons thereon, and
each year, beginning with the year nine
teen hundred and forty, the said treasurer
shall shall, In G the len manner aforesaid, proceed to
| be requisite to exhaust as nearly as may be
the amount in said sinking fund, and pro-
ceed in the manner hereinabove stated After
| DaVment
or balance remaining in said sin king fund, II
any there be,.shall forthwith be paid into the
San Francisco harborimprovementf 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 out of
said money in said fund in eXtinguishment
of said bonds on controllers warrants duly
drawn for that purpose.
| SEC. 6. The state controller aud state treas.
urer shall keep full and particular account and
record of all their proceedings under this act.
and they shall transmit TO the governor an ab-
stract OF all such proceedings hereunder. with
an annual report, to be by the governor laid be-
fore the legislature biennially; and all books
and papers pertaining to the matter provided
for in this act shall at all times be open to the
inspection of any party interested or the Cover
| nor. or the attorney general. or committee Of
either branch OF the legislature, or a Joint COM
mittee OF both or any citizen Of the state.
SEC. 7. 1t shall be 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.
SEC. s. This act if adopted by the people,
shall take effect on the thrty-first day of Decem-
ber, A. D. nineteen hundred and ten, as to all
xyf1inp
sary for its submission to the people. and for
returning. canvassing, and proclaiming the
votes and as to said excepted provisions this act
shall take effect Immediately.
| SEC. y. This act shall be submitted to the peo-
pie of the state of California for their ratification
at the next general elaction to be holden in the
month OF November, A. ID. nineteen hundred and
ten, and all ballots at said election shall have
printed thereon the words, "For the India Basin
Act, and in the same square, under said words.
the following in BREWER type: "This act provides
for the acquisition of a'tidal basin in the bay OF
San Francisco for harbor purposes, and for the
payment OF all 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 for the acquisition
OF tidal basin 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
India Basin Act" there shall be left
spaces in which the voters may make or
stamp a cross TO indicate whether they vote
for or against said act. and those voting for
said act shall do SO by placing a cross opposite
the words " For the India Basin Act" and all
those voting against said act shall do so by plac-
ing a cross opposite the words against the India
Basin Act" The governor Of this state shall In
clude the submission Of this act To the people.
aforesaid. in his proclamation calling for said
general election.
SEC. 10. The votes cast for or against this act
/ shall be counted. returned and cdnvassed and
declared in the same manner and subject to the
same rules as votes cast for state officers; and If
IL appear that said act shall Ihave received a
majority OF all the votes cast for and against IL
| at said election aforesaid then the same
shall have effect as hereinbeTore provided, and
shall be irrepealabe until the principal and in.
terest of the liabilities herein created shall be