Amador ledger., 1910-10-14

Notice Us hcrehy given 10 the electors o. le
state OF California that the following acts will
pc submitted o che people Of the State of Ca &
iQrnia for their ratification at the next gener .
election. 10 be holden on the eighth day Of No
vember, a d. 1910 to wit:
SENATE BILL NO. ass.
Passed the Senate, March s, AID. 1909 Lewis
a. Hilborn, Secretary Of the Senate.
Passed the Assembly March IS, A. ID. 1909
Clio Lloyd, Chief Clerk Of the Assembly.
,o rms i, blli was received by the Governor this
y, O. Cooper. Private Secretary of the Governor
CHAPTER 80. An act TO provide for the issu
ance and sale Of state bonds to create fund
Tor the Improvement OF San Francisco harboI
by the construction by the board Of state
harbor commissioners OF wharves, piers, state
railroad spurs, betterments and appurten-
ances, snd necessary dredging and filling ia
connection Herewith In the city and county
Of San Francisco; to create sinking fund
for the payment OF said bonds; to define the
duties OF state officers in relation theretj; to
make an appropriation Of five thousand dol
lars for the expense OF printing said bonds
ana 10 provide for the submission OF this
act TO a vote of the people
The people OF the state Of California. repre-
sented In senate and assembly, do enact as
SECTION l. For the purpose of providing q
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 and appurtenances, and necessary
dredging and filling in connection herewith, 4,
cost not to exceed nine million dollars
(which said wharveS, piers, sea wall, state
railroad, spurs, betterments and appurtenances
and necessary dredging and filling in coupec-
lion Herewith, the board of state harbor
commissioners are hereby empowered to con-
struct and do, in the manner authorized by
law and at cost not to exceed said nine
million dollars), the state treasurer shall inn
mediately after the issuance of the procla-
nation OF the governor provided for in sec
tion III hereof, prepare nine thousand suit
bonds Sfnfp n in f1,a, "A,
nomination OF orc thousand dollars each The
whole lss ue of said bonds shall not exceed the
sum OF nine miiii1n dollars, and said bonds
snail bear interest at the rae of four per
.centum per annun, from the date Of issuance
thereof, aud both principal anu interest shall
oe payable IN gold coin Of the present standard
value and they shall be payable at the Office
OF the state treasurer, at the expiration of
seventy-four years from their date, subject,
however, TO redemption byl lot as in this act
hereinafter provided. Said bonds shall bear
date the second day Of July, AID nineteen hun
dred and eleven, and shall be made payable
on the second day of July, nineteen hundred
and eighty-hve. The interest accruing on
such OF said bonds rs are sold, shall be due and
payable ut the Office of the state treasurer on
the second day OF January, and on the second
Cav 81 July of each wear after the sale of the
samo; provided that the first payment of in
tereSt snail be male on the second day o. July
nineteen hundred and twelve. on so
many OF said bonds us may have been thereto
fore sold. at the expiration OF tseventy-four years
from the date of said bonds, all bonds sold shall
cease to bear interest, aud likewise all bonds
redeemed by lot shall cease to bear interest rs
in this act provided, and the said state treas
urer shall call in, forthwith pay and cancel the
same, out of the moneys in the second San
Francisco seIwnll sinking fund provided for in
this act and he shall, on the fist Monday OF
July. nineie hundred and etghty-ive,
also cancel and destroy ill bonds not thereto
fore sold All bonds issued shall be signed by
the governor. ald countersigned by the control
ler and shall be endorsed by the state treas
urer and the said bonds shall be so signed,
countersigued and endorsed by the o11eerS VINO
are in Office OH the ecOod day 9, July, 1911. G.id
each of said bonds shall have the seal OF the
state stamped thereon. The said bonds signed
couutersigned, and endorsed and selled, as
herein provided, when sold snail be and cOnsti-
tute II valid and binding obligation upon the
State OF California. though the sale thereof be
made ut u date or dates after the person sign
ing counters igning and endorsing. or anf o.
them, shall hBVe ceased TO be h2 incumbenlS
Of such office or offices Each bond shall contain
n clause that il is subject to redemption Dy lot
after the year nineteen hundred and ifty.
SEC. Interest coupons shall be attached TO
sch OF said bonds, SO that such coupons may
berenOVed without injury TO or mutila0on OF
the bond Said coupons snail be cOnSecutiVely
numbered, and shall bear tho Autographed sig
nature of the stare treasurer who shall be IN
office on the second sday OF July, 1917. But no
interest Oh 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 10 purchaser unless such accrued IN
terest shall nave been by the purchaser of said
bond. paid 10 the state at the lime OF said sale.
SEC g. The sum Of five thousand dollars Is
hereby appropriated to pay the expense that
may be incurred by the stale treasurer IN haV-
ing said bonds prepared, said amount shall be
paid cut OF the San Francisco harbor improve
mcnt fund on controllers warrants, duly drawn
Tor that purpose.
SgC. L. When the bonds authorized 10 be is
sued under this act shall be duly executed.
they she'll be by the state treasurer ssold NJ
public auction to the highest bidder,for cash.
In such parcels and numbers rs said treasurer
Shall be directed by the governor OF the state,
under the seal thereof. after u resolution re-
questing such sale smell have been adopted by
the board OF state harbOr commissioners, and
approved by either the governor of the state or
mayor Of the city aud county of san Francisco,
who shall only approve the same whea in their
judgment tie &c tual hHrbor receipts, and those
reasonably anticipated, will Justify such sale
OF bonds and he consequent increased burden
on harDor receipts; but said treasurer must re-
Ject any and All bids for said bonds or for any
of them which shall he below the par value of
said bonds so oleced, plus the interest which
has accrued thereon between the date OF sale
and the last preceding interest maturity date;
and he NAV. 10y public announcement Mt the
time nXed for the sale. continue such sale as
10 the whole OF the bonds offered or any part
thereof offered, 10 such time and place Us he
may select Before Offering any OF said bonds Tor
sale the said treasurer shall detach therotron
all coupons which hare matured or VIII ma
ture before the dale iiNed loc such sale.
Due uoiice OF the time and place OF sale
of all bulds must be giVeu by said treas
urer by publication in twO newspapers pub
lished IN tue citt aud county of san Francisco,
and also by publication in one Newspaper puO-
llshed iu The city OF OatlGnd. and by publicH-
tion iu one newspaper published IN the city of
Los Angeles. and by punltcalton In one news
paper published In the city OF Sacramento, once
week during four weeks prior TO such sale.
In addition 10 tle notice last above provided
Tor the state Treasurer mng give such further
notice ns De MAY Ceem advisable, but ine eN
peugs and cost eft such additional not ice
Shall nor exceed the sum c1 i've hundred dot
lars G50OuO l0r rach sale 80 advertised
The cost OF such publication shall 0e paid out
of The San Fraucisco h0rbOr Improvement fund,
on controllers warrants duly drawn fof that
purpose Vne proceeds of the sale OF such
bonds. except such amount AS may have
been paid u9 accrued interest thereon.
~ballb b3 forthwith paid over Dy said treasurer
into the treasury, aud must be 10y him Eep, iu
o separate fund. 10 be known and designate ns
the Second san Francisco SeaTall Fui,d' aud