Amador ledger., 1910-09-30
SENATE BILL NO. 227.

PaSSeQ the senate t6DruHry tll, "A. ~. lSUH.
Lewis Hilborn, Secretary of the Senate.
Passed the Assembly. March 10, A. ID. 1907
Clio Lloyd, Chief Clerk OF the Assembly.
18th day.of Ma March i A. D. - iSos G at 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-
Dor commissioners of o necessary area for a
tidal basin for wharves, docks, piers, harbors
and appurtenances in the city and county of
San Francisco; to create sinking 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 u
vote of the people.
senteo in senate and assembly. do enact as
follows:
SECTION For the purpose of providing q
fund for the payment of the Indebtedness auth
orized to be incurred by the board of state har
Dor commi sSioners 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 IAN 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 oV5r 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
q fund for sthei 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 a sink
ing fund for the payment of said bonds; and de-
fining the duties OF state officers in relation
thereto; making an appropriation OF 81 600 for
the expense OF printing said bonds; and pro-
viding for the submission of this act to a vote
| OF the people, the state treasurer shall. imme-
diaf aIxtu a iCcnnnpn al m q
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 .gold coin of The
| present standard value and they shall be pay
able at the officn of the state treasurer al the
expiration of seventyfour years from their date,
| subject, however, To redemption by lot as in
| this act hereinafter provided Said bonds shall
| bear date the second day of January, A. ID.
| 1911, and shall be made payable on the second
| day of January, A. ID. 1885 The interest
accruing on such of said bonds as are sold shall
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
| SAID bonds las have been heretofore sold.
| At the expiration of seventy-four years from
| the date or SAID DOnQS. all DOuuS SOlu snail
| cease to bear interest. and likewise all
bonds redeemed by lot shall cease to bear
| interest as in this act provided, and the said
| state treasurer shall call in, forthwith pay and
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. d. 1885, also cancel and destroy all bonds
not Heretofore lsold. All bonds issued shall
be signed by the governor, and countersigned
| by the controller, and shall be endorsed by
| the state treasurer, and each shall have the
| Qa Of slammed thereon Each bond
shall contain clause that it is subject to
redemption by lot after the year nineteen hun
| dred and Ihirty-nine.
| SEC 2-Interest coupons shall be attached
| to each of said bonds, so that such coupons may
be removed without injury to or mutilation OF
| the bond. Said coupons shall be consecuttvely
numbered, amp shall be signed by the state
| treasurer. But no interest on any Of said bonds
shall be paid for any time which may intervene
between the date OF any OF said bonds and the
issue and sale thereof TO q purchaser.
| SEC. 3. Tho sum OF one thousand dollars is
hereby appropriated TO pay the expense that
may be incurred by the state treasurer in hav-
| ing said bonds prepared. Said amount shell be
| paid out OF the "San Francisco harbor improve
ment fund" on controllers warrants duly
drawn for that purpose
| SEC A. When the bonds authorized to be
issued under this act shall be duly executed
they shall be sold by the state treasurer at pup
lie auction to the highest bidder for cash. in
| such parcels and numbers as said state treas
urer shall determine; but said treasurer must
reject any and all bids for said bond, or for any
| OF them. which shall be below the par value OF
| said bonds so offered for sale, and he may by
public announcement at the place and time fixed
| for the sale, for good and sunlcient cause, con
tinue such sale as TO the whole OF the bonds
offered, or any part thereof offered, to such time
| and place as he may select, not exceeding, how,
ever, sixty days. Due notice OF the time and
| place OF sale of all bonds, and OF the postpone
| inent OF sale thereof, must be given by said
| treasurer by publication In two newspapers
published In the city and county OF San Fran
| CISCO and also by publication In one newspaper
| published in the city OF Oakland, and by puo
| iication In one newspaper published In the city
| ofIos Angeles, aud by publication In one news
paper published In the city OF Sacramento, once