Amador ledger., 1910-07-29
sEMArE am No. 4as.

election. % be holden on the eighth day OF No
vember, D. 1910. to wits
SENATE BILL NO. ass.
Passed the Senate, March s, Nd. 1919. LOWS
A. Hilborn. Secretary Of the senate.
Passed the Assembly, March ~, n. -, lBU9.
Clio Lloyd. Chief Clerk OF the Assembly
This Bill was received by the Governor, thlS
10Th day of March. ID. 1909, at II O'Clock q m.
W, 9. Cooper, Private Secretary OF the Governor
CHAPTER 800. An act 10 provide for the issu-
ance and sale Of state bonds to create "a iuud
for the improvement OF San Francisco harbor
by the construction by the board OF state
harbor commissioners OF fwharves, piers, state
railroad spurs, bettermeuts and appurteu-
ances o IA necessary dredging and tlltns In
connection Herewith In the city AMI courtv
Of San Francisco TO create sink ne fund
for the payment Of said bonds TO define the
duties Of state officers in relation therctl. TO
make an appropriation of i've thousand dol
lars for the expense OF printing said bonds;
and to provide for the submission Of this
act to a vote OF the people
The people OF the State OF California, repro
sented in senate and assembly, do enact as
SECTION l. For the purpose Of providing
fund for the payment of the Indebtedness here
by authorized TO be incurred by the board of
state harbOr commissioners for the erection of
wharves, piers. seawall, state railroad spurs
betterments md appurtenances, and necessary
dredging and filling in connection herewith
In the city and county Of San Francisco, at
u cost not to exceed nine million dollars
(which said wharveS piers, sea wall, state
railroad, spurs, DottermentS una aOpurtcnanCes
and necessary dredging and flltng in connec-
tlon herewith the board OF state harbor
commissioners are hereby empowered to con
struct aud do, Ia tho manner authorized by
law, ana at a cost not TO exceed said nine
million dollars). the state treasurer Shall inn
mediately after the issuance OF the procla-
nation OF TIC governor provided Tor in sec
ttOn 10 hereof, prepare nine thousand suit
able bonds of the State Of California, in the de-
nomination of one thousand dollars each. The
whole issue of said bonds shall not exceed the
sum of nine million dollars, AMI said bonds
shall bear interest at the rale of four per
Gentum per annun'. from the date OF issuance
thereof, and both principal anu interest shall
be payable n gold coin Of the present standard
value, and they shHl be payable at tho Office
OF III, state treasurer NJ the expiration Of
sevonty-f0ur years from their date, subject,
however. to REDEEM ption byl lot Us in this act
hereinafter provided Said bonds shall bear
date the second day of July, A nineteen hun
area and eleven, and shall be made payable
90 the second day Of July, nineteen hundred
and eighty-hve. The interest accruirg on
such Of said bonds as are sold, shall be due and
payaple OF the Office OF the state tres ssurcr on
the second day Of January, acd on tho second
day OF July OF each year after the sale Of the
sanle' provided that The first payment Of in
terest snail be ma Oh the second day o. July
nineteen hundred and twelve. on 50
mC1J 81 said bonds as may have been thereto
fore sold At the aspiration OF seventy four years
from the date OF said bonds, all bonds sold shall
cease TO bear interest, and likewise all bonds
redeemed by lot shall cease 10 bear interest as
in this act provided, and the said state treas
urer shall call in, forthwith pay and cancel The
same out of tho moneys in the second SAN
Francisco setwall sinking fund provided for in
thiS act. aad he SHALL on the tlrst Monday OF
July, MAE cen hundred and eighty-hve,
also cance, and destroy al bonds not thereto
fore sold All bonds issued shall be S1Gued by
the governor. and counterStgned by the control
ler and shall be endorsed by the state treas
urer and the said bonds shall be so signed.
counterSigned and endorsed by the officers who
are in of11ce the second day OF July, 1911. and
each of said bonds shall have the seal of the
state stamped thereon. The said bonds signed,
counterS1gned, and endorsed ana sealed, as
l..r. hsa~, 1gt iD
tute valid and binding obligation upon the
State Of California, though the sale thereof be
made at "a date or ualOS after the person sign
ing. cOulscr5lg gn1ng and endorsing. or any or
them, shall have ceased to be he incumDenta
Of such office or Offices Each bond shall contain
a clause that ii is subject to redemption bY lot
after the re lr nineteen hundred a1d htty.
SEC. , Interest coupons shall be Attached TO
nch OF said bonds, so that such coupons may
beremoved without injury TO or mutilatlon OF
the bond said coupons snail be cOnSecullNely
numbered, and shall bear the l1thographed sig
nature of the state treasurer who shall be IN
pffc, on the second sday of July. 1911. But no
interest on any Of said bonds shall be paid Tor
any time which may intervene between th9 dare
of any of said bonds aud the issue ana safe
thereof 10 purchaser unless sucn accrueu n,
terest shall have been, by the purchaser OF salu
bond, paid TO the state at the time OF sa,d sale'
SEC g. The sum of five thousand dollars IS
hereby pDDrODriated to pay the expense that
may be incurred by the state treasurer IN nav
ing said bonds prepared. said amount snail DC
paid out of the San Francisco harbor improve
meQt fund on controllers NuTEtulSi uuiy NA""h
~ SEC T. When the bonds authorized to be is
sued under this act shall be duly executed.
they shall be by the state treasurer sSold at
nnblic auction to the highest biddertfor cash,
in such parcels and numbers rs said treasurer
shall be directed by the governor or the state,
under the seal thereof, after resolution re-
questng such sale shall have been adopted by
the board of state harbor commissioners ana
approved by either the governor of the State or
mayor of the city aud county OF san trapclsco'
rcho hal
Judgment the actual harbor receipts, ana thoSe
reasonably anticipated, will justify Sucn sure
of bonds and the consequent Increased puruen
on harbor receipts; but said treasurer must re-
iect any and all bids for said bonds, or Tor any
of them. which shall be below the par value OF
said bonds so offered, plus the interest Wmch
has accrued thereon between the date OF sale
and the last preceding interest maturltyuatei
and he may, by public announcenSht ~ tlo @
time lXed for the sale. continue Such sale as
10 the whole OF the bonds offered. or any part
thereof offered, to such time ana place as ne
may select. Before Offering any OF sald pOnus lot
sale the said treasurer shall detach thererom
all coupons which have matured or VIII ma
ture before the date fixed for such SAFE.
Due noiice of the time and place OF sale
of all bonds must be given by sald treas
arer by publication in two newspapers pup
lisbed ia the CITY and county of san Francisco,
aud also by publication In one LewSpapor puo' ao
hshed in the city of Oakland, and 10y puollca,
tion ia one newspaper published IN the clty ol
Los Angeles. ana by publication IN one news
paper published in the city OF Sacramento, once
a week during four weeks prior to such SAFE;
In addition TO the notice last above provided
for the state treasurer may give such further
notice as he may deem advisable, but the eN'
pense and cost OF such addltlonal nouce
Shall not exceed the sum of five hundred dol
lars tS5OO.uO) for each sale so advertised,
The cost of such publication shall be paid Out
of the San Francisco harbor improvement tund
ON controllers warrants duly drawn for that
purpose The proceeds OF the sale Of such
bonds except such amount rs may nave
Loen maid as accrued interest thereon
shall be forthwith paid over by said treasurer
into the treasury, and must be by him kept II
separate fund, 10 be known anu deSlsnaleu ~
th~ tSecopd San Francisco Seawall Fund anl
must be used exclusively for the construction
of wharves piers seawall, state railroad spur
dredoing and filling In connection therewtth. OF
the water front OF the city and county OF Sal
Francisco Drafts and warrants upon seld tutC
shall be drawn upon ana shall pc P Palo out u