The San Francisco call., 1910-09-26
LEGAL and OFFICIAL-Con.

poJ LiSut OF Judgments from Ine prOceeus VI
bonds issued. and sold under the provisions
Of an act entitled AN act to provide for the
issuance and sale of state bonds to create
fund for the acquisition by the board of state
harbor commissioners of a necessary area for
tidal basin, for wharves, docks, piers, har-
bors and appurtenances in the city and county
Of San Francisco; to create sinking fund for
the payment of said bonds; and defining the
making an appropriation of one thousand dol
lars for the expense of printing said bonds;
and providing for the. submission Of this act to.
shall Immediately after the issuance OF the
preclamafion of the governor, provided for n n
bonds OF the State of California, in the de-
nomination Of one thousand dollars each Inc
Wnole issue of said bonds shall not exceed t1e
sum OF one million dollars, and said bonds
shali bear interest at the rate of four per
cehtum per annum, from the time OF the saie
thereof, and both principal and interest shall
value, and they shall be payable at tne
once once OF the state treasurer. at the .,S- e1
date subject, however, to redemption 6y
LOT as in this act hereinafter provided:
January, A D. 1911 and shall be made pay
ape ape on the second day Of January a. y, tsoo.
are sold, shall be due and payable at the olnce
or the state treasurer, on the second day OF
January, and on the second day Of July, OF eaca
year after the sale of the same; provided tnae
the first payment of interest shall be mace
on the second day of January. A d. lSlz' on 30
fofoTye OF @ said bonds as may have oeen
years from the date of said bonds, al Dolus
sold shall to bear interest, and likewise
interest, as in this act provided. and the said
state treasurer shall cali in. forthwith pay ana
Basin Sinking Fund" provided for in this act.
and he shall the first Monday In January,
not Heretofore sold Ali bonds issued shall be
signed by the governor, and counterslgneo ps
the controller. and shall be endorsed Dy a1 .ae
state treasurer, and each shall have the sea- sea-
or the state stamped thereon. Each Dohd sndll
contain clause that 1t is subject to reaenp,
ton by lot after the year nineteen nunoreu anu
thirty-nine.
See. 2. Interest coupons shall be attached 10
each of said bonds, so that such coupons may
pc removed without injury to or mut1latloh OIL .ne
bond; Said coupons shall be consecutlvely nun nun
oered, and shall be signed by the state treas,
urer But no interest any of said oonos snaii
be paid for any time which may intervene ue
tween the date of any OF said bonds. and tne
issue and sale thereof to purchaser
Sec. 8. The sum of one thousand dollars IS
may be incurred by the state treasurer IN nav
ing said bonds prepared. Said amount snah re
paid out of the ..San Francisco Harbor improve
ment Fund, on controllers warrants, duly ora"n
FOR that purpose.
Sec. 4. When the bonds authorized to be Is
sued under this act shall be duly executed thsy
auction to the highest bidder for cash, In suen
parcels and numbers said state treasurer
shall determine; but said treasurer must reJect
any and all bids for said bonds, or for any OF
them, which shall be below the par value OF saio
bonds so offered for sale, and he may By pubic
announcement at the place and time liked 1or the
sale, for good and sufficient cause, continue sucn
sale 10 the whole of the bonds onered OF
any part thereof offered, to such time and place
as he may select, not exceeding, however, sixty
days. Due notice of the time and place Oh SAFE OF
all bonds, and of the postponement OF SAFE
thereof, must be given by said treasurer by pun
Hcation In two newspapers published IN tne ne
city and county of San Francisco, ana also py
pao1cat1on M in one newspaper puolsnea IN ,[r ane
city OF Oakland, and by publication In one news,
paper published in the city of Los Angeles, ana
by publication in one newspaper pubhsheo IN
the city of Sacramento. once week during tour
weeks prior to such sale. The costs of such pub
ncatlon shall be paid out of the san Francesca
rants. duly drawn for that purpose. The proceeds
OF the sale of such bonds shall be forthwith pald
over BY said treasurer into the treasury. ana
must be by him kept in a separate fund to De
known and designated as the India Basin Fund,
and must be used exclusively for the acqu1sl-
tloa of the area described in the act referred 10
In section l hereof. Drafts and warrants upon
said fund shall be drawn upon and shall be PAID
out of said fund in the same manner as drafts
and warrants are drawn upon and paid out OF the
San Francisco HarDor Improvement Fund"
Sec. 5. For the. payment of the principal and
known and designated the India Basin Sink
created as follows to wit: The state treasurer
shall, on the first day of each and every month,
after the second day OF December, A D. 1928,
take from the San Francisco Harbor Improve
ment Fund, such sum as, multiplied by the
time the bonds then sold and outstanding have
to run, will equal the principal OF the bonds
sold and outstanding at the time said treasurer
shall so take said sum from said San Francisco
Harbor improvement Fund less the amount
heretofore taken therefrom for said purpose;
and he shall place the sum in the India Basin
Sinking Fund.- createo by this act Said state
treasurer shall. CONTROLLERS warrants duly
drawn for that purpose, employ the moneys In
the United States, or Of the State of California,
or of the several counties or municipalities of
the State of California which said bonds shall
be kept in proper receptacle, appropriately
labeled; but he must always keep on hand a
Suf6p fpnf ~ in zoiH efr md
with which to pay the interest on such of
the state bonds herein provided TO be issued
as may have heretofore been sold; and TO
provide means for the payment Of interest on
the bonds that may be sold and outstanding,
San Francisco Harbor Improvement Fund, ;, and
pay into said india Basin Sinking Fund"
on all bonds then sold, delivered and outstand-
ing. The board of state harbor commissioners
is hereby authorized and directed by the col
lection of dockage, tolls. rents. wharfage and
cranage, to collect sum of money sufficient
for the purposes of this act, over and above
the amount limited by section two thousand
five hundred and twenty-six of the Political Code
of the State of California. Between the first
and tenth day of November in the wear nine
taen hundred and forty and batxreen the arst and
tenth day of November of each year thereafter
until the maturity of said bonds, the said treas
ceed TO draw by lot such an amount of bonds
shall be requisite to exhaust. as nearly as may
be- the amount in said sinking fund at that
time, and shall thereupon and before the tenth
day of December following, give notice by public
advertisement 10 De inserted twice a week for
two weeks in two newspapers published in the
city and county of San Francisco, aud also In
enc newspaper published in the city of Oakland
and also in one newspaper published In the
city of Los Angeles. and also In one newspaper
published in the city of Sacramento, stating the
number of bonds so drawn. and that the prin-
cipal of said bonds shall be paid on presentation
TO the treasurer on or before the second day of
January, following and that from and after
such last named date, all interest upon bonds
thus drawn shall cease and it shall be the dut,
of the treasurer as soon said bonds 50 drawn
by lot surrendered to him and paid, to can
eel the same, and the interest coupons thereon
and each year beginning with the year nineteen
hundred and forty, the said treasurer shall in
the aforesaid, proceed to draw by lot
such amount of bonds shall be requisite
TO exhaust nearly may be the amount
in said sinking fund, and proceed in the manner
hereinabove stated. After the payment of All
said bonds. the surplus balance remaining in
said sinking fund, if any there be, shall forth
Improvement Fund" At the time of the
respective drawings by lot. as aforesaid and
also at the maturity of said state bonds said
treasurer shall sell the United States bonds or
other bonds, then in said sinking fund at gov
erning market rates. after advertising the sale
thereof. in the manner hereinbefore provided
for the sale of bonds hereby authorized TO he
issued and shall use the proceeds for the nav
ment of such bonds may be drawn nv 1ot
and at the maturity of said bonds outstan ndino
shall pay and redeem said matured OUTSTANDING
bonds out of said money in said fund in ex.
tinguishment of said bonds, on controllers war
rants, duly drawn for that purpose.
Sec g. The state controller and the state
treasurer shall keep full and particular account
and record of ali of their proceedings under This
act and they shall transmit to the governor an
abstract of all such proceedings Hereunder with