Amador ledger., 1910-08-19
SENATE BILL NO. 227.

Passed the Senate February III, A. D. 1909.
Lewis Hilborn. Secretary of the Senate; ,ooo
Passed the Assembly March TO- A. ID. l909.
Clio Lloyd, Chief Clerk of the Assembly.
This Bill was received by the Governor, this
18th dayiof March, A. ID, 1909, at 3 O'Clock p. M
E. G. Cooper Private Secretary of the Cover
nor.
CHAPTER 407. An Act to provide for the issu-
ance and sale of state bonds to create a fund
for the acquisition by the board OF state har-
bor commissioners of necessary area for
tidal basin for wharyeS, docks, piers, haroors
and appurtenances in the city and county OF
San Francisco; to create asinking fund for the
payment of said bonds; and defining the du-
ties of state officers in relation thereto; max
ing an appropriation of one thousand dollars
for the expense OF printing said bonds; and
providing for the submission OF this act TO
vote of the people
The people of the State of California, repre-
senteo in senate and assembly. do enact as
follows:
SECTION l For the purpose Of providing
fund for the payment of the indebtedness auth
orized to be incurred by the board of state har-
Dor commissioners for the acquisition of the
necessary area for tidal basin extending the
area of India basin on the water front of the
city and county of San Francisco, as provided IN
an act entitled AN act to authorize and direct
the board of state harbor commissioners to in
Stitute condemnation proceedings against GER
tain property north of India basin, and extend
ing to ISlaiS creek in the city and county OF San
Francisco. and extending the jurisdiction of
said board over the same, and providing for
the payment of judgments from the proceeds
OF bonds issued and sold under the provisions
of an act entitled IAN act to provide for the
issuance and sale of state bonds to create
a fund for .thej acquisition by the board of
state harbor commissioners OF u necessary
area for o tidal basin for wharveS, docks,
piers, harbors, and appurtenances in the city
and county of San Francisco; TO create sink
ing fund for the payment Of said bonds; and de-
ining the duties of state officers in relation
thereto; making an appropriation OF 1000 for
the expense of printing said bonds; and pro
viding for the submission of this act to u vote
OF the people" the state treasurer shall, 1mme-
diately after the issuance of the procl amatlon
by the governor. provided for in section 10 here
| of, prepare one thousand suitable bonds OF the
| State of California, in the denomination OF one
| thousand dollars each The whole issue of said
| bonds shall not exceed the sum of one million
dollars and said bonds shall bear interest at
| the rate of four per centum per annum from the
time of the sale thereof, and both principal and
| interest shall be payable in tgold coin of the
present standard value and they shall be pay
able at the Officu of the state treasurer at the
| expiration of SeVenty-four years from theirdate
subject, however, TO redemption by lot as Ia
| this act hereinafter provided. SAID bonds snail
| bear date the second day of January, A. d.
| 1871 and shall be made payable on the second
day of January, A. d, 1885 The interest
| accruing on such OF said bonds as are sold shall
| be due and payable at the office of the state
| treasurer on the second day of January. and on
the second day of July, of each year after the
| sale OF the same: provided that the first pay
ment OF interest shall be made on the second
day of January, a. d. 1912, on so many OF
said bonds ias have been heretofore sold
| Az tlG EXPIRATION Oh SbNbuly-lOuF StdTS lIOlL
| the date of said bonds. all bonds sold shall
| cease TO bear interest and likewise al
| bonds redeemed by lot shall cease TO beal
| interest as in this act provided, and the said
state treasurer shall call in. forthwith pay ano
cancel the same. out of the moneys in the India
| basin sinking fund provided for IN this act
| and he shall on the first Monday of January
A ID. 1855, also cancel aud destroy all bonds
| not heretofore lSold. All bonds issued shal
be signed by the governor and countersignec
| by the controller and shall be endorsed by
| gt have
seal of the state stamped thereon Each bone
| Shall contain u clause that IL is subject Il
| redemption by lot after the year nineteen nun
dred and thirty-nine.
SEC 2-Interest coupons shall be ATTACHED
to each of said bonds, so that such coupons may
be removed without injury to or mutllation OF
| the bond Said coupons shall be consecutvely
numbered amp shall be signed by the stat'
treasurer. But no interest on any nf said bonds
shall be paid for any time which may intervene
between the date of any of said bonds and The
issue and sale the eof TO purchaser.
| SEQ. g. Tho sum of one thousand dollars Is
hereby appropriated to pay the expense tina
may be incurred by the state treasurer in haV
ing said bonds prepared Said amount shall b'
paid out OF the San Francisco harbor improve
ment fund on controllers warrants duly
SEC 4 When the bonds authorized TO b'
issued under this act shall be duly executed
they shall be sold by the state treasurer at pub
| lie auction 10 the highest bidder for cash II
such parcels and numbers as said state treas
urer shall determines; but said treasurer mus
reject any ana all BIDS Tor sald Dond or Tor an!
of them which shall be below the par value o
said bonds so offered for sale, and he may b!
public announcements az the place and time hxe'
for the sale, for good ana suiiicient cause, con
tinue such sale as to the whole OF the bond
offered or any part thereof Offe ed, 10 such tim
and place as ne may select not exceeding, now
| ever sixty days. Due notice OF the time an'
place OF sale of all bonds ana or the postpone
inent OF sale thereof must be given by SAT-
treasurer by publication In two newspaper
| published in the city and county OF san Fran
tIof. nv nnh n
published In the city OF Oakland, ana by put
ication in one newspaper published IN the CIT
OF Los Angeles, aud by publication in one news
paper published 10 the city OF Sacramento, one