The San Francisco call., 1910-11-07
ASSEMBLY BILL NO. 900

4, A. J.
Clio Lloyd, Chief Clerk Of the Assembly.
Passed the Senate. March IL. A. D. 1909,
Lewis A. Hilborn, Secretary Of the Senate.
This bill was received by the Governor, this
20 day of March. A. D. 1909, at IL o'clock
m. E. c. Cooper. Private Secretary of the Gov
ernor.
Chapter 3sS. An act authorizing the con
Of system of state highways in the State of
anfe Gafer9ia t specifying the WORK fixing the pay
pended therein; providing for the issuance and
struction and acquisition of such system; Gre
ating sinking fund for the payment of said
bonds; and providing for the submission of this
The people of the State of California. repre-
sented in senate and assembly, dos enact as
follows:
Section l. system of state highways in and
for the State of California shall be constructed
and acquired as and in the manner provided by
law by the department of engineering of said
state at cost not to exceed eighteen million
dollars For the purpose of providing for the
quisition of said system of said highways the
State Of California is hereby authorized to in
cur an Indebtedness in the manner provided by
this act in the sum of eighteen million dollars.
Immediately after the issuance of the procla-
nation OF the governor, provided in section IL
Of this act the Of the state shall
State of California IN the denomination of one
THOUSAND nd dollars each to be nun numbered from
the third day of July. 1911 The total issue of
said bonds shall no not exceed the sum Of eighteen
the rate of four per cent per annum from the
date Of issuance thereof. The said bonds and
the interest thereon shall be payable in gold
coin of the United States of the present standard
Of value at the office OF the treasurer of said
state at the times and in the manner following
to wit: The first four hundred of said bonds
shall be due and payable on the third day of
July 1917 and four hondred Orda sS of said bonds in
payable the third day Of July. in each and
I'd daV of ,Tul
on all of said bonds that shall be. sold shall
@ gn The At i G Of q 5aaay fs sn the Of
day of July of each and every year after the
sale of the same. The interest on all bonds
maturity and the said bonds so issued and sold
shall on the day of their maturity be paid as
of said state. All bonds remaining unsold SHAH
at the date of the maturity thereof be by the
All bonds issued pursuant to the provisions OF Of
this act shall be signed by the governor of this
Endorsed By the state treasurer. and rbe said ahd
bonds shall be so signed, countersigned and en-
third day of July, 1911. and each of said bonds
shall have the great seal Of the State of Cali.
fornia impressed thereon, The said bonds.
herein provided, when sold, shall be and consfi
tute valid and binding obligation upon tbe
State of California, though the sale thereof be
made at a date or dates. after the person so
signing, countersigning and endorsing or either %
of them shall have ceased to be the incumbents
of said office or Offices
Sec q Appended to each of said bonds tba-a
shall be interest coupons so attached that tbe
same may be detached without injury fo or,
mutilation of said bond. The said coupons shall
be consecutively numbered and shall bear fbs
who shall be in office the third day of JuIy
1911. No interest shall be paid on any of said
the date of said bond and the day of sale
thereof unless such accrued interest shall bave
been b 5ne me Of Such sale paid to the
Sec. g. There snail be provided in the general
etpenses that shall be incurred by the stare aa
treasurer in the preparation of said bonds ana
in the advertising Of the sale thereof as in this
Sec. A. When the bonds authorized by This act
to be issued shall have been signed counter
signed. endorsed and sealed as in section one
In such parcels and numbers as the governor of
the state snail direct. to the highest bidder for
fhe state treasurer such direction immediatelv
after being requested 50 to do. through and by
iority vote of the advisory board of the depart
ment of engineering. Said resolution Shall
Judgment OF said advisory board shall be re-
Guired at such time and the governor of the
uep Of said bonds as may be- reonred d such en-
raise said amount of money and that said bonds
Commencing with the first four hundred thereof eSl
The state treasurer shall not accept any hid
the interest which has accrued thereon between a
the date of sale and the last preceding interest
maturity date. The state treasurer may at fha
time and place fixed by him for said sale con-
tinue such sale as to the whole or any part of
the bonds offered TO such time and place as he
NAV at the time of such continuance designate
Before offering any of said bonds for SALE the
said treasurer shall detach therefrom all cou-
pons which have matured will mature before
the date fixed for such SALE The state treas
urer shall give notice of the time and place OF
in the city and county of San Francisco and In
one newspaper published in the city OF Oakland
and in one newspaper published IN the CITY Of
Los Angeles and In one newspaper puhlishad In