The San Francisco call., 1910-10-24
LEGAL and OFFIcfAL-con.


payment of judgments from the proceeds of
90 ponds issued and sold under the provisions
fund for the acquisition by the board of state
narnor commissioners. of a necessary area for
tidal basin, for wharves docks, piers, har-
bors and appurtenances. in the city and county
OF San Francisco; to create sinking fund for
duties Of saP Of said bonds aas
making an appropriation of thousand dol
and ars for the expense Of printing said bonds bon 81
shall Immediately after the issuance Of the
sec,lon ~ hereof prepare one thousand sulta9le
oonas OF the State of California. In the ne
hnln ZION of one thousand dollars eaen a the
sum sum OF one million dollars, and SAID ponas
cenum per ron At the t rafe 0 Of the sale
thereof and both principal and interest snai, III
ps payable In gold coin of the present ssahu4bn tb
oasue' oss and they shall be payable at .ne
ofnee of the state treasurer. at the ..s- e5
piration of seventy-four years from 'helr
lot as n no"eser ,eTenafter to provided
SAID bonds shall bear date the second DAY ol
shh5uary' sh5e n A D 1911 and shall be mage 19ss
Inc interest accruing such Of said pohos seas a.
are sold shall be due and payable at tne ONE -
January. and the second day OF July OF eacn es.
year after the sale Of the same proyiueo aSe ,ns
ON the second day of January. A. D. 1912 .hs on so
many many Of said bonds as may have p+xfor peen
tVtoTe SOlQ- AT the expiration OF
years from the date of said bonds all m nohes oSas
sold shsH cease to bear interest. and aikewMiss VS.
an bonds redeemed by lot snail cease tSa 10 esid
interest, as in this act provided. ana tnes d
stare treasurer shall call in forthwith pay @ua
cancel the same. out of moneys in the inuta nct
and he shall on upf the frst Monday in January.
4. y; 1883: also cancel and destroy All II aiJ III he
signed BY the Governor. and eountersigned by
the controller and shall be endorsed py saaT tng
state treasurer and each shall nave tne III
tEprp0u
contain clause that it is subject 10 rev resemv ns
ton by lot after the year nineteen nunureu anu
thirty-nine.
Sec ?. Interest coupons shall be attached d, 10 70
each of said bonds so that such coupons nhs ~
pe removed without injury to or mutilatlon Oh @ ne
bond Said coupons shall be consecutively .aa nase
bered, and shall be signed by the state 'res rsaY1
urer. But no interest any of said oonus snaa ba
De paid for any time which may intervene ~ ~
tween the date of any of said bonds. anu Tue
issue ana sale thereof to purchaser
Sec. 8. The sum of thousand dollars s. - !.
may be pnpped e9 the state in
ing said bonds prepared. Said amount .ovs snar ee
PAID ont OF the San francisco Haroof suiv drawn
for that purpose.
Sec. 4. When the bonds authorized to be Is
sped under this act shall be duly executed thvS
auction to the highest bidder for cash. IN @ sucn
parcels and numbers as said state tressaaet neiaet
any and all bids for said bonds. or for any OF
them which shall be below the par value OF S1f Sso
announcement at the place and time fixed Tor tne
sale, for good and sufficient cause continue sucn
sale as to the whole of the bonds onered OF
any part thereof offered. to such time ana pace
as he may select, not exceeding, however sixty
days: Due notice Of the time and place OF sale OF
thereof. must be given by said treasurer by pub,
Ication In two newspapers published n IA Tue he
publication in one newspaper published in the
city of Oakland and by publication In one news,
paper published in the city of Los Angeles, ana
the city of Sacramento. once week during four
weeks prior to such sale. The costs OF such pun
Harbor Improvement FUND.- on controllers war
rants, duly drawn for that purpose Inc proceeass
over by said treasurer into the treasury. and
must be by him kept In separate fund 10 oe
known and designated as the India Basin FUND.-.
and must be used exclusively for the acqulsl-
tlon of the area described in the act referred TO
in section hereof. Drafts and warrants upon
said fund shall be drawn upon and shall be paid
out OF said fund in the manner as drafts
ana ana warrants are drawn upon and paid out OF the
Sec. 8. For the payment of the principal and
interest of said bonds sinking fund to be
known and designated as the '1ndia Basin Sink
ing Fund.- shall be, and the same is hereby
created follows, to wit: The state treasurer
take from the .'san Francisco Harbor improve
time the bonds then sold and outstanding have
o,s to run Will equal the principal OF the bonds
shall so take said sum from said "San Francisco
Harbor Improvement Fund" less the amount
heretofore taken therefrom for said purpose;
and he shall place the sum In the India Basin
Sinking Fund.-" created by this act Said state
treasurer shall on controllers warrants duly
the United States. or of the State of California:
the State Of California, which said bonds shall
be Kept in proper receptacle, appropriately
labeled: but he must always keep on hand
sufficient amount of money in said sinking fund
with which to pay the interest on such Of
thnranf 10 De ssuso ~
provide means for the payment of interest on
aa sae bonds that may NAY be sold and @
San Francisco Harbor Improvement Fund and
ay INTO eona sad to @ anby nah a & a
on all bonds then sold. delivered and outstand-
ing. The board Of state harbor commissioners
lection of dockage. tolls. rents. wharfage and
| cranage, to collect of money sufficient
the am amount mt limited ' BY section two T thousand n
five hundred and twentysx of the Political Code
and tenth day of November. in the wear nine
teen. hundred and forty. and between the first and
tenth day Of November Of each year thereafter
| until the maturity of said bonds the said treas
urer shall, in the presence Of the governor. pro-
ceed to draw by. lot such amount of bonds
be- the amount in said sinking fund at that
time, and shall thereupon and before the tenth
advertisement to be inserted twice a week for
two weeks in two newspapers published in the
city and county of San Francisco. and also In
one newspaper published in the city Of Oakland
and also In one newspaper published In the
city of Los Angeles, and also in one newspaper
published in the city of Sacramento, stating the
number of bonds drawn. and that the prin-
cpal of said bonds shall be paid on presentation
to the treasurer before the second day of
January, following. and that from and after
such last named date all interest upon bonds
thus drawn shall cease. and it shall be the dut,
of the treasurer said bonds so drawn
by lot are surrendered to him and maid to en-.
eel the same and the interest coupons thereon.
and each year beginning with the year nineteen
hundred and forty, the said treasurer shall in
the manner aforesaid proceed to draw bv lot
such an amount of bonds as shall be reousite
TO exhaust nearly may be the amount
in said sinking fund. and proceed in the manner
hereinabove stated After the payment of ali
said sinking fund. II any there be, shall forth
with be paid into the .'San Francisco Harbor
Improvement 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 bonds or
other bonds, then in said sinking fund at gov
erning market rates, after advertising the sale
thereof in the hereinbefore provided
for the sale Of bonds hereby authorized to be
issued and shall the proceeds for the nav
ment of such bonds as may be drawn by lot.
and at the maturity of said bonds outstanding
shall pay and redeem said matured outstandinc
bonds out of said money in said fund in ey,
tiaguishment of said bonds. on controllers war.
rants duly drawn for that purpose.
Sec. 6. The state controller and the state
treasurer shall keep full and particular account
and record of ali Of their proceedings under thjs
act, and they shall transmit to the governor an
Of