Amador ledger., 1910-07-29

OF the gian Francisco harbor improvement
fund" on controllers warrauts. duly drawn for
/ that purpose The proceeds OF the sale Of such
, bonds shall be forthwith paid over by aaid
treasurer into the reasury, aud must bs by
him kept iu separate fund to be known and
/ designated as the "tndit Basin fund.- and
must be- used exclusively for the acquisition Of
the area described in the act referred 10 ia sec
/ ton hereof DrHtS and wnrrr1tS upon sal
| fund shall be drawn upon and shall be paid out
of said fund In the same manner rs drafts aud
warr8ota are drawn upon and paid out Of the
san FranciscJ HGibOr 1mpro vement Fund"
SEC. g. For the pavmeuC Of the principal and
interest Of spid bond, % sinking fund, TO pc
! sinking Sun l' shNll ber and the same is here
by created, Us follows to wit: The state
/ ireAsuer shall, on the iirst dny. OF each
n1d cveV month @fteT The second day OF
! Decembar a. u. W2S. take from the
I"San Francisco harhor Improvement fund "
sush sum gs m1ltpli5d by the tne inn the
| bonds tho1 sold and outstanding have TO run
| win equal he ptnclDal Of the bonds sold and
ofts sta1diug ~ the time satd Treasurer snail so
| take sal sum from said Sau francisco hlrb1r
| imprOvem iut fund less TIE amount heretofore
| taken therefrOm fot said purposes aud he shall
nlace the sum IN the Ludi@ basin sinking iund
| created hv his aet Said STATE troasurersisbll
on COutrOler's warrants 3uly drawn for that
uurn0Se. employ tbs noueys In said sinking
| fund I'm the purchase OF bonds Of the UniBed
| States. orof the STATE OF California. or Of the
| several counties or muni icpnlitles Of the State
of California, when said bonds shall be Kept n
| y proper receptacle appropriately labeled; bat
he must always keep on hand o sufficient
| amount of money IN said sinking fund with
! which to'pey the interest on such of The state
| bonds hHrtdn provided to be issued as may have
| heretofore been sold. Aud to provide means
| for the payment Of interest on the bonds that
| may be sold and outstanding, said treasurer
| shall nongAlv take from the San Francisco har-
| Dor Improvement fund, and pay into said In
| dli- basin sinking fund, an amount equal to the
| monthly interest then due oD all bonds then
| sold, delivered and outstanding. The board of
| stare harbor commissioners IS hereby author
tzed and directed by the collection of docliage
| tolls rents, wharfage and craRage to collect
| q sun Of money sufficient for the purposes of
! this act. over and above the amount limited
| ny section two thousand five hundred and
! 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 The first and
tenth day of November of each year there
after until the maturity of said bonds the said
nor, proceed 10 draw by lot such an amount
of bonds rs shall be requisite to exhaust as
nearly as may be the amount in said sinking
fund ut that time, and shall thereupOn and
before the tenth day OF December following.
give notice by public advertisement to be in
serted twice week for two weeks in
two newspapers published in tire 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
city of Los Angeles. and also in one news
paper published in the ci Y of sacramento,
stating the number of bonds so drawn. and
that The prinJpal of said bonds shall be
paid on presentation to the treasurer on or
| before the second day of January, following,
and that from aud after such last named
date all interest upon bonds thus drawn shall
cease, and 1t shall be the duty of the treas
4 ureFas soon as said bonds so drawnby lot are
surrendered to him and paid, to cancel the
! same, and the interest COUPONS thereon, and
each year, beginning with tho year nine
! teen hundred and forty, the said treasurer
shall, in the manner aforesaid, proceed to
draw by lot such an amount OF bonds IS shall
be requisite to exhaust as nearly as may be
the amount in, said sinking fund, and pro-
ceed in the manner above stated After
the payment CT all said bonds, the surplus
or balance remaining in said sinking fund, if
any there be, shall forthwith be paid into the
San Francisco harborimprovement 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 bonded 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 1T the maturity
of said bonds outstanding shall pay and re-
deem said matured outstanding bonds out of
said money in said fund i'm eXtinguishment
of said bonds on CONTROLLERS warrants duly
drawn for that purpose.
SEC. 6, The state controller aud state treas
urer shall keepful 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 thereund'r, with
an annual report, to bo by the governor laid be-
fore the legislature biennially; and all books
and papers pertaining to the matter provided
for in this act shall iat all times be open to the
inspection of any party interested or the COVER
nor, the attorney general IL committee of
either brauch,of the egi >latnle, or Joint com
mittee Of both, or any citizen of the state.
SEC. Z. 1t shall he the duty of the state treas
urer to LAY the interest of said bonds, whendhe
same falls due, out of the SINKING fund provid-
ed for in this act, on controllers warrants duly
drawn for that purpose.
SEC. & This act If adopted by the peoples
sh I'll take effect the thirty-1irs day Of Deeenlr
) ber n. d. nineteen hundred and ten as to, all
its provisions except thos@reating to and neoes-
sary for is, submission to the people. and for
ff,fr iunft1 flta
votes ard as to said excepted provisions thisact
shall take effect Immediately.
SEC. o. This,act shall be submitted to tho peO-
pie of tine state of California for tneir ratification
at the next generall elaction to be holden in the
! monthaof November, A. -. nineteen hundred and
ten, and all ballots at said election shall have
printoi thereon. the words, "For the India Basin
Act,' and in the same square, under said words.
the following in BREWER type "rhis 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
q Francisco Harbor ImproS ement FUND.-" In the
: square Immediately below the square containing
u u said words. there shall be printed on said bal
i lot, the words against the India Basin Act, -
9 and Immediately below said words. Against the
u India Basin Act" in brewer type. shall be
q prinIed This act provides fOr the acquisition
= | of tidal basin in the bay of san Francisco, for
. harbor purposes, and for lhe payment Of all
!, costs thereof out of the "San Francisco HarboI
~ improvement Fund" Opposite the words "Fol
!, the India Basin Act" and Against the
= India Basin Act" there shall be lef
u spaces in which the voters may make OF
~ stamp a cross to indicate whether they vote
- for or against said act and those voting fol
- said act shall do so by placing cross opposite
- | the words " For the India Basin Act" and al
- those voting against said act shall do 50 by plac
y ing opposite the words against the India
u Basin Act" The governor Of this state shah in
y clude the submission of this act to the people, az
A. aforesaid. in his proclamation calling for sale
"a general election.
u SEC TO- The votes cast for or against this ac
II shall be counted. returned and cdnvassed anC
y declared in the same manner and subject to tn
"a same rules votes cast for state officers; ana
W il appear that said act shall .have received
!" majority of all the votes cast for and against
T. at said election as aforesaid. then tho sam
y shall have effect as herainberore provided, am
lS shall be rrepealable until the principal and In
~ forest of the liabilities herein created shall b
u paid and discharged, and the governor shal