Amador ledger., 1910-09-02
SENATE BILL NO. 227.

Passed the Senate February ~ A ID. l9O".
Lewis Hilborn. Secretary of the Senate.
Passed the Assembly March I'D, A d. 1909.
Clio Lloyd, Chief Clerk of the Assembly.
This Bill WAS received by the Governor, this
18th day.of March, A. D. 1909, at o'clock p. m.
Il. 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 fund
Tor the acquisition by the board OF state har-
Dor commissioners of necessary area for
tidal basin for wharves, docks, piers harpors
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
Jug an appropriation OF one thousand dollars
for the expense of printing said bonds; and
providing for the submission of this act to a
vote of the people,
The people of the State of California, repre-
senteO in senate and assembly. do enact as
follows:
SECTION 1 For the purpose of providing a
fund for the payment of the Indebtedness auth
orized to be incurred by the board of state har-
Dor commissioners for the acquisition or Ine
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 an act entitled AN act to provide for the
issuance and sale of state bonds to create
a fund for the acquisition by the board of
state harbor commissioners of u necessary
area for . tidal basin for wharves, docks,
piers, harbors, and appurtenances in the city
and county of San Francisco; TO create u sink
ing fund for the payment Of said bonds and de-
filming the duties of state onlcers in relation
thereto; making an appropriation OF $1,000 for
the expense of printing said bonds; and pro-
viding for the submission of this act to u vote
n Ia npnnln frAnSnrpr shall
diately after the issuance of the procl amation
by the governor provided for in section III 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 al
| 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 ut the otc OF the state treasurer at the
| expiration of seventy -four years from heirdate
subject. however, 10 redemption by lot us in
| this act hereinafter provided Sad 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. 1888 The interest
| accruing on Sucn of said bonds as are sold shall
| be due aud payable at the olticc OF the state
| treasurer on tue 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 shell be made on the second
day OF January, A p. 1912, on so many Of
| said bonds las have been heretofore sold
| Az the expiration of seYenty-fOur years from
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. 1853, also cancel an1 destroy all bonds
not heretofore iSold. All bonds issued shall
| be signed by the governor, and cOunterS gueC
| by the controller, and shall be endorsed by
| the state treasurer and each shall have the
| seal of the state stamped thereon Each bone
| shall contain u clause that IL is subject tC
| red amptiOn by lot after the year nineteen hun
dred and thirty-Dlne
| SEC 2-IntGrest coup ms shall be ATTACHED
TO each of said bonds 50 that such coupons may
| be removed without injury to or mutation OF
| the bond Said coupons shall be cOnsecutivelA
numbered aup shall be signed by the state
treasurer. But 40 interest on any nf said bonds
shall be paid for auy time which may intervene
between The date of any Of said bonds and The
issue and sale he eof TO u purchaser.
SCI g. Tho sum OF one IN iuSand dollars Is
hereby app OpriAted 10 pay the expense INA
may be incurred by the state treasurer in hay
INK said bonds prepared SAID amount shHll Dc
paid out OF the 'Sau Francisco harDor improve
ment fund - on controllers warrants duly
drawn for that purpose
! SEC 4 When the bonds authorized % ~
issued under this act shall be duty 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 Shail determine; but said treasurer mus
reject any aud all bids for said bond, or TO- an!
OF them which shall be below the par value +"
said bonds so offered for sale. and he may b.
pub ic an Ouncement AT the place and time hXe(
for the sale, for good anu SUFFICIENT cause, con
tinue such sale as 20 the whole OF the bonds
offered, or any part thereof One cd, 10 such tint
aud pl ace as no may select, not exceeding no ~
ever sixty days Due notice OF the time an'
place OF sale OF all bonds, and OF the postpone
mont OF sale thereof must be given by SAT-
treasurer by publication In two newspaper
published In the city and county OF San Fran
cisco aud also by publication In one newspape
published IN the city OF Oakland, aud by put
LEGATION in one newspaper published In the CIT
OF Los Angeles, aud by publication In one news
paper published In the city OF Sacramento, one