Amador ledger. (Jackson, Amador County, Calif.) 1875-19??, 1910-09-09

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/ that purpose The proceeds Of the sale Of such
! binds ,h ~ be forthwith paid over nv said
! treasurer into the reasury. and must be by
| him Kept I'm ~ sepGrgte fund To be known and
] desjsnatcd as the Ind Basin fund and
| must b. used exclusively for the acquisition OF
| thearea described in the nct referred to IN sec
| ton ! hereof Drafts and warrants upon sal
| fund shall no drawn upon and shall be paid out
OF said fund in the same manner MS drafts and
| warrants are drawn upon and paid out OF the
| san Francisco Harb0r Improvement Fund"
| SEC. D For the PAYMENT OF the principal and
| interest OF said bonds sinking fund, TO be
| known and designated ~ the India Bastn
! Sinking Funt," shall be, and tho same is here
by created, as follows TO wit: The state
ireasurer III. on the trst day OF each
| aud every month after the second day Of
| December A. d. 1928. take from the
| san Francisco harbor Improvement fund ="
| such sum rs multiplied by the the time the
bonds tbon sold and outstanding have to run
| will equal The princpal OF the bonds sold and
| outstanding ~ the tim. said treasurer shall so
take sal sum from said San Francisco barb n
| improvement fund. less the amount Heretofore
| taken therCfrOm for said purpose; AMI he shall
place the sum In tho India basin sinking fund
created nv 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 bonds Of the United
| States. ROT the State Of California; or Of the
| several counties or municipalities OF the State
| OF California, when said bonds shall be Kept In
| u proper receptacle HuproDriatclv labeled. but
he must always keep ON hand sufficient
| amount OF money in said sinking fund with
| which to- pay thg interest on such OF the state
| there ofore been sold Aud to provide means
| for tho payment of interest on the bonds that
may ce sold and outstanding, said treasurer
| shall lnonthlv take from the san Francisco har-
| hOr improvement fund, ana pay into said In
| d q basin sinking fund an amount equal TO the
monthly interest then due on all bonds then
| sold, delivered and outs landing The board of
| stare harb' commissioners is hereby author
| lied and directed by the collection of dOcliage
| tolls, rents. wharfage and crauage, to collect
| u sum of money sufficient for the purposes of
| this act. over ana above the amount limited
| by section two thousand i've hundred an !
| twenty.SiX of the Political Cole of the State
! of California, Between the first and tenth
| day of November, in the year nineteen hun
| dred and forty. and between thc first and
/ tenth day of November of each year there
after until the maturity of said bonds the said
treasurer shall, in the presence CT the COVER
| nor, proceed TO draw by lot such an amount
! of bonds MS shah be requisit to exhaust MS
! nearly as may be the amount In said sinking
fund at that time, and shall thereupOn and
| before the tenth day OF December following
| give n1tice by public advertisement TO he in
serted twice n week for two weeks in
two newspapers published in the city and
county Of San Francisco, and also in ono
| newspaper published in the city OF Oakland,
| and also in one newspaper published in tn
city of Los Angeles, and also in ono news
| paper published in the city of Sacramento,
stating the number of bonds so drawn. and
| that the principal of said bonds shall he
paid on presentation to the treasurer on or
before the second day OF January, following,
and that from and after Such last named
date all interest upon bonds thus drHwp shall
cease, ana II shall he the duty of the treas
ureras soon as said bonds so drawn by lot arc
surrendered to him and paid, to cancel the
same, and the interest coupons thereon, and
each year, beginning with ths wear nine
teen hundred and forty, the said treasurer
shall. in the manner aforesaid. proceed to
draw by lot such an amount o. bonds s. shall
be requisite to exhaust as nearly rs may be
the amount in said sinking fund, and pro-
coed in the manner hereinabovc stated, After
| the payment of all said bonds, the surplus
or balance remaining in said sinking fund, if
any there be, shall forthwith be paid into the
San Francisco harbor mprOVement fund. AT
the time of the respective drawings bv lot. IS
| aforesaid, and also at the maturity of said
state bonds, said treasurer shall sell the
United States or other b Inds then in said
sinking fund, mt governing market rates, after
advertising the sale thereof in tho manner
herein before provided for the sale OF bonds
hereby authorized To be issued ana shall use
the proceeds for the payment OF such bonds
| as may be drawn by lot, and ut The maturity
OF said bonds outstanding shall pay and re-
deem said matnred outstanding bonds out Of
| said money in said fund in cXtinguishmcnt
ofsaid 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 unde this act.
and they shall transmit TO the governor an alb
stract of all such proceedings thercuud r. with
an annual report, TO b1 by the governor laid be
fore the legislature blennially: and all books
and papers pettlining to tho matter provided
for in this act shall pt all times be open to the
inspection Of any party interested, the COVER
nor. or the attorney general. or II committee of
either branch of the legislature, or Il lint com
mtttee OF both, or any citizen Of the state.
SEC. Z. 1t shall he the duty of the state treas
urPr to bay the interest Of said bonds whom The
same falls due, out Of the sinking fund provid-
ed for in this act, controllers warrants duly
drawn for that purpose.
SEC s. This act if adopted by tho people,
shall take effect ON the thirty first day OF Decem-
Der, a. ID. nineteen hundred and ten, as to ali
its provisions except those relating t. and neca5-
sary for lis submission to the people. and for
| DPOtlniminH
votes, and as to said excepted provisions this act
shall take effect Immediately.
SEC. 9. This act sh lll 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. u. 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 i'll BREWER type This act provides
for the acquisition of tidal basin in the bay o.
san Francisco for harboc purposes and for the
payment of all costs thereof out OF the San
Francisco Harbor lmprO, 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 d" Against the
l India Basin Act" in BREWER type shall be
printed This act provides for the acquisition
of tidal baS 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
the India Basin Act" and " y gainst the
India Basin Act" there shall be left
! spaces in which The voters may make o!
stamp cross 10 indicate whether they vote
! for or against said at and those voting fol
said act shall do so by placing n cross opposite
: the words - For the India Basin Act" and all
those voting against said act shall do by plac
ing cross opposite the words against the India
Basin Acl." Tho governor Of this state shall in
clude the submission Of this act to the people as
, aforesaid. in his proclamation calling for said
genera election
SEQ. TO- The votes cast for or against this ACT
= shall be counted. returned and cdnvassed and
declare In the same manner and subject to inc
same rules votes cast for state ollic and II
it appear that sal act SHAH have resolved a
majority of Ill tne votes cast for ana against II
at said election as aforesaid. then the same
shall have effect rs her4inberore provide |. anc
shall be irrepealaDle until the principal and in
terest OF The liabilities herein created shall be