The San Francisco call., 1910-10-10
LEGAL and OFFICIAL-Con.

payment of judgments from the proceeds OF
m issued nd sold under the 9oi 9Rs
fund for the acquisition BY the board of state
a tidal basin, for wharves, docks, piers, har-
bors and appurtenances, in the city and county
the payment Of said bonds and defining the
duties of state officers in relation thereto;
making an appropriation of one thousand dol
and providing for the Submission of this act to
sbagf gGte Of the people the state treasure "a tss
proclamation Of the governor row nor provided for in
secIon 10 hereof. prepare one thousand sultaoie
bonds Of the State of California. in the de de.
whole issue of said bonds shall not exceed me
sum Of one million dollars and said bonds
centum per annum, from the time of the sale lie
thereof, and both principal and interest snaI
ana IN tssy ged sS of n the at the
otnce OF the state treasurer at the ..si
9rstion Of years from 'hflT bg
lot as In this act hereinafter provided:
said bonds shall bear date the second Gay ol
able on the second day of January, A. D. 1889,
Inc interest accrutng such OF said ponus - -
are sold shall be due and payable at ,ns s1 oinof 81
January, and on the second day of july, Q. eaet
year after the sale Of the same: provioeo Ia
on the second day of January. A. D. 1912, s on 50
many OF said bonds may have been tnsre 80
toiore sold. AT the expiration OF seFenty ioI.
sold shall cease to bear interest, and likewise
al bonds redeemed by lot snail cease to pear pear
state treasurer shall call in. forthwith pay ana
| cancer the same, out Of moneys IN tne i act
and he ssa on the dpss Monday
not theretofore sold All bonds issued snaH by S
signed by the governor, and eountersignso ~
state treasurer. and each shall have & the Sc sea- +
contain clause that it is subject to redemp,
ton by lot after the year nineteen hunoreo anu
thirty nine.
Sec. 2. Interest coupons shall be attached 10
each Of said bonds. so that such coupons nhs ths
De removed without injury to or mutilatlon Oh .ne
bond; Said coupons shall be consecutlSeiy nan
bered, and shall be signed by the stare tlsaS
urer. But no interest on any Of said bonds snaii
be paid for any time which may inter.ene nd tSs ne
issue and sale thereof to "a purchaser.
Sec. 8. The sum of one thousand dollars Is
hereby appropriated to pay the expense la LA
ing said sI bonds prepared. red Said amount shall be
paid out Of the '-San Francisco Harbor improve We
ment Fund.-" on controllers warrants ouiy ufa"n
for that purpose.
Sec. 4. When the bonds authorized to be Is
sued under this act shall be duly executed tney
shall be sold by the state treasurer at paUthS ,nh
auction to the highest bidder for cash, In suen
parcels and numbers as said state treasurer
shall determine; but said treasurer must reJecs
any and all bids for said bonds or & Tor az any said
bonds so offered for sale, and he may oy pu1ic .hc
announcement at the place and time nxeo TOT .ns ne
sale for good and sufficient cause, continue sucn
sale as to the whole of the bonds onerea OF
any part thereof offered, to such time and place
as ne ma select not eaeesdng oce Of sale Of
all bonds and Of the postponement or ssse
thereof. must be given by said treasurer by pno
city and county of San francisco, and also by
publication in one newspaper published In the
city of Oakland, and by publication in one news,
paper published in the city of Los Angeles. and
BY publication In one newspaper pubnsheo IN
the city Of Sacramento once week eur,ng nS nu
licatton shall be paid out of the San Francisco
Harbor improvement Fund" on controllers war
of the sale Of such bonds shall be forthwith paid
over by said treasurer into the treasury ana
must be by him kept in a separate fund 20 De
known and designated the India Basin Fund,
and must be used exclusively for the acqulsi
tion 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 same manner as drafts
and warrants are drawn upon and paid out of the
San Francisco Harbor Improvement Fund
Sec. 8. For the payment of the principal and
interest Of said bonds sinking fund to pc
known and designated as the india BASIN hnhy SlnS
created as follows, to wit: The state treasurer
shall. on the first day of each and every month.
after the second day of December, A. d. 1928,
take from the San Francisco Harbor improve
ment Fund" such as multiplied by the
time the bonds then sold and outstanding have
sold and outstanding at the time said treasurer
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.-" createO by this act Said state
treasurer shall, on controllers warrants, duly
drawn for that purpose, employ the moneys In
the United States, or Of the State of California,
or OF the several counties or municipalities OF
the tn State 10 of which said 6onds
labeled; but he must always keep on hand a
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
may have heretofore been sold and to
provide means for the payment of interest on
the bonds that may be sold and outstanding,
said treasurer shall monthly take from the
"San Francisco Harbor Improvement Fund" and
pay into said India Basin Sinking Fund an
amount equal to the monthly interest then due
on all bonds then sold delivered and outstand-
is hereby authorized and directed by the col
lection Of dockage, tolls. rents, Wharfage and
for the purposes of this act, and above
the amount limited by section two thousand
Of the State Of California Between the first
and tenth day Of November in the year nine
tenth day of November OF each year thereafter.
until the maturity Of said bonds, the said treas
er ureT shall ~ IN the he % OF the pro-
as shall be requisite to exhaust, 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 notice by public
advertisement to be inserted twice a week for
two weeks In two newspapers published In the
city and county of San Francisco, aud 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 newspaper
published in the city of Sacramento, stating the
number of bonds so drawn, and that the prin-
cipal Of said bonds shall be paid presentatio
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 drawn shall cease. and it shall be the dut,
of the treasurer as soon as said bonds so drawn
by lot are surrendered to him and paid, to can
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 by lot
such amount of bonds shall be requisite
in said sinking fund.- and proceed in the manner
hereinabove stated. After the payment of all
said bonds, the surplus or balance remaining in
said sinking fund, If any there be, shall forth
with be paid into the "San Francisco Harbor
Improvement Fund" At the time of fine
respective drawings by lot, as aforesaid, and
also at the maturity of said state bonds said
other bonds. then in said sinking fund at gov
erning market rates. after advertising the sale
thereof, In the manner hereinbefore provided
for the sale of bonds hereby authorized to be
issued and shall use the proceeds for the nav
ment of such bonds as may be drawn by lot
shall pay and redeem said matured outstanding
bonds out of said money in said fund In ex
establishment of said bonds, controllers war
rants, duly drawn for that purpose
Sec 6. The state controller aud the state
treasurer shall keep full and particular account
and record Of ali of their proceedings under this
act and they shall transmit to the governor an
d,x~4