Amador ledger., 1910-08-12

sinking fund at that time, and thereupon
and before the tenth day of December fol.
lowing, give notice by public advertisement
To he Inserted twice week for two weeks in
two newspapers published I'm the county OF
San Francisco, and also i'm one newspaper
published i'm the city of San Diego, and also
in one newspaper published i'm the city OF
Los Angeles, stating the number of bonds SO
drawn, and the principal of said bonds Will
be paid on presentation to the treasurer on
or before the second day of January, follow,
ing, and that from and after such last named
date all interest upon bonds thus drawn shall
cease, and 1t shall be the duty of the treas
urer as soon as said bonds SO drawn by lot
are surrendered to him and paid to cancel the
same, and the interest coupons thereon, ana an,,
hundred and fifty, the said treasurer shall, in
the manner aforesaid, proceed to draw by lou
such an amount of bonds as shall be requisite
to exhaust as nearly as may be theamount
in said sinking fund, and proceed IN Tue man.
ner hereinabove stated, After the payment
of all said bonds, the surplus or balance re-
manning in said sinking fund, If any there
be, shall forthwith be paid into the san
Diego harbor i'm provement fund. AZ the Time
of the respective drawings by lot, as alore-
said, and also at the maturity OF sald state
bonds, said treasurer shall sell the Unlteu
states or other bonds then in said sinking
fund, at governing market rates, after adver-
tising the sale thereof in the manner hereln-
before provided for the sale OF bonds hereby
authorized to be issued, iand snail use the
proceeds for the payment of such bonds as
may be drawn by lot, and at the maturity OF
said bonds outstanding snail pay ana redeem
said matured outstanding bonds out of said
moneys in said fund in eXtinguishment OF
said bonds on controllers warrants duly
drawn for that purpose
SEC 6. The state controller and the state |
treasuserlshall keep full and particular ac-
count and record of all their proceedings un-
der this act, and they shall transmit to the
governor an abstract of all such proceedings
Hereunder, with an annual report, to be by
the governor laid before tho Legislature bien-
nially; and all books and papers pertaining
TO the matter provided for in this act shall at
all times be open TO the inspection or any
party interested, or the governor, or the at
branch Of the legislature, or joint commit |
tee of both, or any citizen of the state,
SEC. 7. 1t shall be the duty of the state
treasurer to pay the interest of said bonds, |
when the same falls dine, out of the sinking
fund provided for in this act, on controllers
warrants duly drawn for that purpose.
SEC. 8, This act, If adopted by the people,
shall Etake Ieffect ton the thirty-first day of
December, nineteen hundred and ten, as to
all its PROVISIONS, except those relating to and
necessary for its submission TO the people,
and for returning, canvassing and proclaim
ing the votes. and as to said excepted pro-
visions this act shall take effect imme-
diately.
SEC. 8. This act shall be submitted to the
people of the State of California for their
ratification at the next general election, to
be holden in the month of November, nine
teen hundred aud ten, and all ballots at said
election shall have, printed thereon, and at
the end thereof, the words, " For the San
Diego seawal act,'' and in a separate line
under the same words, " Against the San
Diego seawall act" and opposite said lines
there shall be left spaces in which the voters
NAV make or stamp cross TO indicate
they vote for or against said act, and
those voting for said act shall do so By plac-
Diego seawall ,act," and all those voting
against the said act shall do so by placing
cross cross opposite the words M Against the San San
state shall include the submission of this
act to the people, as aforesaid, in his procla-
nation calling for said general election.
GEn a a fOr ga nQft ~
shall be counted, returned and canvassed and
declared in the same manner and subject to the
same rules votes cast for state officers aud If
it appear that said act shall have received
majority Of all the votes cast for and against 1t
at said election, as aforesaid, then the same
shall have effect as herein before provided, and
shall be irrepealabe until the principal and in
terest of the liabilities herein created shall be
paid and discharged, and the governor shall
make proclamation thereof; but if a majority of
the votes cast as aforesaid are against this act
then the same shall be and become void
SEC IL. 1t shall be the duty of the secretary
of state to bave this act published in at least one
newspaper in each county, or city and county. If
one be published therein, throughout this state,
for three months next preceding the general
election to be holden in the month of November
nineteen hundred and ten, the costs of publica
tion shall be paid out Of the San Diego harbor
improvement fund, on controllers warrants duly
drawn for that purpose.
SEC 12 The state controller and state treas
urer are hereby directed to transfer from any
moneys paid into the San Diego seawall fund
under the provisions of this act to the general
fund of the State of California, any and all sums
OF money heretofore transferred from said gen.
eral fund to the San Diego seawall fund. together
with interest said moneys from the date OF
transfer at the rate Of four per cent per annum.
SEC 13. This act may be known and cited as
the "San Diego seawall act of 1909"
w. II. PORTER,
President of the Senate
p. A. STANTON,
Speaker of the Assembly
Approved April 10th, A. d. 1909.
j. N GILLETT. Governor
Endorsed. Filed in the office of the Secretary