Amador ledger., 1910-07-29
SENATE BILL NO. 227.

Passed the Senate February ~, A. d. 1902
Passed the Assembly March TO- A d. 1909.
Clio Lloyd, Chief Clerk Of the Assembly.
This Bill was received by the Governor, this
18th day.of March, A. ID, 1893, at O'Clock p. M
e. G. Cooper. Private Secretary of the Cover
nor
CHAPTER 4O7. An Act to,provide for the issu-
anee and sale of state bonds to create fund
for the acquisition by the board OF state har-
Dor commissioners of "a necessary area Tor a
tidal basin for wharves, docks, piers, harborS
and appurtenanceS i'm 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 IL
vote of the people,
The people of the State of California, repre-
sented in senate aad assembly. do enact as
follows:
SECTION 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 tne
necessary area for tidal basin extending the
area OF India basin on the water front of the
I city and county cfSan Francisco, rs provided in
an act entitled An act to authorize and direct
the board of stale 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. ard extending the jurisdiction OF
said board oV5r the same, and providing Tor
the payment Ci 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 the acquisition by the board OF
state harbor commissioners Of necessary
| area for tidal basin for wharveS, docks,
| piers, harhDrS and appurtenanceS IN the city
| and county of San Francisco; to create sink
| ing fund for the payment OF said bonds ana de-
fining the duties Of state omcerS IN relation
| thereto; making an appropriation OF Sl,OOO Tor
the. expense OF printing said bonds; and pro pro,
| or the people," the state treasurer shall lmme-
| diately after the issuance OF the proclamation
| By the governor provided tor IN Sectlon III mere
| OF prepare one thousand suitable bonds of the
| STATE OF California. in the denomination or one
| thousand dollars each. The whole issue OF said
bonds shall not exceed the sum OF one million
| dollars, ami said bonds snail Dear 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 com OF The
present standard value aud they shall be pay.
able at the otfict OF the state treasurer at the
expiration OF sOventy-four years from helrdate
subject however, to redemption by LOT as II
this act hereinafter provided SAID bonds snail
bear date the second day OF January, A, ID
1911, and shall be made payable on the seeonc
day of January, A. D. 1889 The lntefeS
accruing on such of said bonds Us are sold shal
be due add payable ~ the olice or the STATE
treasurer on the second dag of January. and OF
the second day Of July, OF each year AFTER th'
sale OF The same: provided that the hrSt pay
meGt o. interest shall be made on the Seeon(
day of January, A. D. 1)l2, on so many o
said bonds ias have been heretofore sold
the date of said bonds. all bones sold shat
cease To bear interest. aud likewise al
} bonds redeemed by lot shall cease TO bea
interest rs in this act provided, anu tAe Sal(
state treasurer shall call in, fo.thT1lh pay an'
cancel the same. out Of the moneys in the Indli
basin sinking fund provided for Ia this act
and he shall on the first Monday of January
A ID. 1855, also cancel an destroy all bond
not heretofore sold. All bonds issued sinai
| be signed by the governor, ana counterSlgne
) by the controller and shall be endorsed b.
| he euCl
seal of the state stamped thereon Each BON
shall contain u clause that 1t is subject I
redemption by lot after the year nineteen huc
dred and thtry-nine.
= SEC -Interest coupons shall be attache
to each of said bonds. so that such coupons ma
= be removed without injury TO or mutlNtion 0
, the bond Said coupons shall be cOnsecutVel
{ numbered, amp shall be signed by the stat
I treasurer. But uointerest ON any hf said bond
g shall be paid for any time which may lnteryen
between the date Of any OF SAID bonds and th
+ issue ana sale thereof 10 "A purchaser,
SEQ. 3. Tho sum Of one thousand dollars l
l hereby Appropriated 10 pay the expense tha
( may be Incurred by the state treasurer in hay
g ing said bonds prepared. Said amount she'll b
3 paid out OF the "San Francisco haroor improve
D ment fluid on controllers warrants dul
G drawn for that purpose
( SEC A. When the bonds authorized to 1
y issued under this act shall be duly executed
!, they shall be sold by the state treasurer at pul
+ lie auction to the highest bidder for cash, /
i such parcels and numnGrS as salu STATE urea
+, urer shall determine; but said treasurer mus
REJECT any ana all DluS loF Sdiu pohu' VI ~ "h
i OF them which shall be below the par value
y said bonds so offered for sale ana ne may I
y public announcement at the place ana time tNt
9 for the sale, for good aud sunlelehl cause, co
: tinue such sale as To the whole OF the bone
d offered, or any part thereof offered to such tlu
y and place as he may select not exceeding, nov
d ever, sixty days Due notice OF the time al
e place OF sale OF all bonds, and OF the postpon
J. ment of sale thereof, must be given by sa
Il treasurer by publication in two newspape
S published in the city and county Of San Fra
C cisco, and also by publication in one newspap
@ published In the city of Oakland ana by pu
r. iieation in one newspaper published In the el
E. paper published IN the city OF Sacramento, on