OCR Interpretation


Amador ledger. (Jackson, Amador County, Calif.) 1875-19??, October 21, 1910, Image 6

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Notice to Voters.
Notice Is hereby given to the electors oJ t»*
Statn of California that the following »cti will
lw submitted m the people of the State of Cali
fornia for ttielr ratification at the next gener >l
election, to he holden on tbe eighth da; of No
vember, A. D. 1010, to wit:
SENATE BILL NO. 480.
Passed the Senate, March 8, a. if. imi>.i. Lewis
A. Hllborn, Secretary of the Senate.
Passed the Assembly, Mnroh,l.\ A. D. 1000.
Clio Lloyd, Chief Clerk of the Assembly.
This Ulll was received by the Governor, this
19th day of March, A. D. 1900, at II o'clock a. m.
E. C. Cooper, Private Secretary of the Governor
Chaptkr ,120. An act to provide for the Issu
ance and sale of state bonds to create a fund
for the improvement of San Francls#o harbor
by the construction by the board of state
harbor commissioners of wharves, piers, state
railroad, spurs, betterments and appurton
ances, i. id necessary dredging and Ailing In
connection therewith In the city and county
of Sao Francisco: to create a sinking fund
for the payment of said bonds : to define the
duties of state officers In rela'.lon thereto; to
make an appropriation of live thousand dol
lars for the expense of printing said bonds;
and to provide for the submission of this
act to a vote of thn people.
The people of the State or California, repre
sented in senate and assembly, do enact as
follows:
Section 1. For the purpose of providing a
fund for the payment of tho Indebtedness here
by authorized to be lnourred by the iboard of
state harbor commissioners for the erection of
wharves, piers, seawall', state railroad, spurs,
betterments and appurtenances, and necessary
dredging and tilling in connection therewith,
In the city and county of San Francisco, at
a cost not to exceed nine million dollars
(which said wharves, piers, seawall, state
railroad, spurs, betterments nnd appurtenances
and necessary dredging and tilling in connec
tion therewith, the board of state harbor
commissioners nre hereby empowered to con
struct and do, in tho manner authorized by
law, nnd nt a cost not to exceed said nlno
million dollars), the state treasurer shall Im
mediately after the issuance of the procla
mation of tho governor, provided for in suc
tion 10 hereof, preparo nine thousand suit
able bonds of tho State of California, in the de
nomination of one thousand dollars each. The
whole Issue of satd bonds shall not exceed the
sum of nine million dollars, and said bonds
shall bear interest at the rate of four per
centum per annutv. from the date of Issuance
thereof, and both principal ana interest shall
be payable In gold coin of the present standard
value, nnd they shall be payublo at the office
of the xtnte treasurer, at the expiration of
sevonty-four years from their datn, subject,
however, to redemption byl lot as In this act
hereinafter provided. Suld bonds shall bear
date the second day of July, A.D nineteen hun
dred and eleven, and shall bo made payable
un the second day of July, nineteen hundred
and eighty-five. The Interest accruing, on
such of said bonds us are sold, shall be due and
payable at the omoe of the state treasurer on
the second day of January, and on tho second
day of July, of each year after the sale of the
same; provided that the first payment of in
terest shall be made on the second day o1o 1 July
nineteen hundred and twelve. on so
many oi said bonds as may have been thereto
fore sold. At the explratlou of seventy-four years
from the date of said bonds, all bonds sold shall
ceasp to bear interest, aud likewise all bonds
redeemed by lot shall couse to bear Interest as
in this act provided, and the said state treas
urer shall call In, forthwith pay and cancel the
name, out of the moneys in the second San
Francisco setwall sinking fund provided for in
this act, and he shall, on the first Monday of
July, nineteen hundred and eighty-live,
also cancel and destroy all bonds not thereto
fore sold. All bonds issued shall be signed by
the governor, and countersigned by tho control
ler, and shall .be endorsed by the state treas
urer, and the said bonds shall be so signed,
countersigned and endorsed by the officers who
are in omce on the second day of July, 1911. and
each of said bonds shall have the seal of the
state stamped thereon. The satd bonds signed,
countersigned, and endorsed and sealed, us
herein provided, when sold shall be and consti
tute a valid and binding obligation upon tne
State of California, though the sale thereof be
made at a date or dates after the person sign
ing. countersigning and endorsing, or any or
them, shall have ceased to bo the incumbents
of such omce or offices. Each bond shall contain
a clause that It Is subject to redumption by lot
after the year nineteen hundred and fifty.
Sec. 3 Interest coupons shall be attached to
ach of said bonds, so that such coupons may
beremoved without Injury to or mutilation of
the bond. Said coupons shall be consecutively
numbered, and shall bear the lithographed sig
nature of the state treasurer who shall be in
office on the second {day of July, 1911. But no
Interest on any of said bonds shall be paid for
any time which may Intervene between the date
of any of said bonds and the issue and sale
thereof to a purchaser, unless such accrued in
terest shall have been, by tho purchaser of said
bond, paid to the state at the time of said sale.
Sec. 3, The sum of five thousand dollars is
hereby appropriated to pay the expense that
may be incurred by the state treasurer In hav
ing said bonds prepared. Said amount shall be
paid out of the San Francisco harbor lmpove
ment fund on controller's warrants, duly drawn
for that purpose.
Sec. 4. when the bonds authorized to be is
sued under this act shall be duly executed,
they shall be by the state treasurer Isold at
' public auction to the highest bidder|for cash,
in such parcels and numbers as said treasurer
shall bo directed by the governor of the state,
under the seal thereof, after a resolution re
questing such sale shall have been adopted by
the board of state harbor commissioners, and
approved by either the,governor of tho state or
mayor of the city and county of San FraDclsco,
who shall only approve the same whoa in their
judgment the actual harbor receipts, and those
reasonably anticipated, will justify such sale
of bonds and the consequent Increased burden
on harbor receipts; but said treasurer must re
ject any and all bids for said bonds, 'or for any
of them, which shall be below the par value of
said bonds so offered, plus the interest which
has accrued thereon between tho date of sale
and tho last preceding interest maturity date;
and lie may, by public announcement at the
time fixed for the sale, continue such sale as
to the whole of the bonds offered, or any part
thereof offered, to such time and place as he
may select. Beforo ottering any of said bonds for
sale the said treasurer shall detach therefrom
all coupons which have matured or will ma
ture before the date fixed for such sale.
Due notice of the time and place of sale
of all bonds must be given by said treas
urer by publication in two newspapers pub
lished in the city and county of San Francisco,
and also by publication In ono uewspuper pub
lished In tho city of Oakland, and by publica
tion In one newspaper published in the city of
Los Angeles, and by publication in one news
paper published In the city of Sacramento, once
» week during four weeks prior to such sale.
In addition to the notloe last above provided
for. the state treasurer may give such further
notice as be may doem advisable, but the ex
penso and cost of such additional notice
shall not exceed the sum of five hundred dol
lars (JaOOSiO) for each Bale so advertised.
The cost of such publication shall be paid out
of tho San Francisco harbor improvement fund,
on controller's warrants duly drawn for that
purpose. The proceeds of the sale of such
bonds, except such amount as may, havo
been paid as accrued interest thereon,
Hliall be forthwith paid over by said troasurer
iuto the treasury, and must bo by him kept In
a separate fund, to be known and designated as
the "Second San Francisco Seawall Fund" aud
must be used exclusively for the construction
of wharves, piers, seawall, state railroad, spurs
liettterments and appurtenances, and necessary
dredging and filling in connection therewith, on
the water front of the city and county of San
■ Francisco. Drafts and warrants upon said fuad
shall be drawn upon and snail be paid out of
said fund In the same manner as drafts and
war/ants are drawn upon and paid out of the
San Francisco harbor Improvement fund. The
amount that shall have been paid at the sale
of said bonds as accrued interest on tho bonds
Hold shall be, by the state treasurer, imme
diately after such sale, paid Into the treasury
rif the state and placed in the *' Second Sun
Francisco Seawall Sinking Fund."
Sec. 5 For the payment of the principal and
interest of said bonds a sinking fund, to be
known and designated as the " Second Son
Francisco Seawall Sinking Fund" shall be, and
the same is hereby created, as follows, to wit:
■■ The state treasurer, after the second day
of July, nineteen hundred md twenty-nine,
Khali, on the iirst day of each and every
month thereafter, after tha sale of said
bonds, take from tbe Han Franolsco harbor
improvement fund such sum as, multiplied
by the time. In months, the bonds then
sold and outstanding have to run, will
equal tbe principal of tbe bonds sold
and outstanding at the time satd treasurer
shall so take said aum from said Sun Francisco
harbor Improvement fund, less the amount
theretofore taken therefrom for said purpose;
and he shall place the sum In the second San
Francisco seawall sinking fund created by this
act. Said state treasurer shall, on controller's
warrant* duly drawn for that purpose, employ
the moneys In said ulnklng fund in the purchase
of bonds of the United State, or of the State of
California, or of the several counties or munici
palities of the Bute of California, which said
b»nd» vhull be kept in • proper receptlole, ap
propriately labeled; but ha must keep always
on band a tulttcleat amount of money in said
■ inking fund with wblcb to pay the Interest on
sucliof tUe state bonds herein provided to ba
issued an may bave theretoforu boeu tola. Ana
to provide means for the piyymont of Interest
on the bonds that may be sola and outstanding,
said treasurer shall monthly take from tha San
Francisco harbor Improvement fund, and pay
Into nnld seawall sinking fund, an amount
equal to the month If Interest then due on all
bonds then told, delivered And outstanding
The board of state harbor commissioners are
hereby authorized And directed by the collec
tion of dockage, tolls, rents, wharfage and
oranage to collect a sum of money sufficient for
the purposes of this act, over and above the
amount limited by seotlon two thousand five
hundred nnd twenty-six of the Political Code of
tho State of California. Hntwonn the first and
tenth day of May, ln the tear nineteen nun
drediand fifty-one, nnd between the first and
tenth day of May of each year thereafter,
until the maturity of said bond*, the said
treasurer shall. In the presence of the governor,
proceed to draw by lot such an amount of bonds
as shall bo reqnlslto to exhaust as nearly as
may be the amount in said sinking fund at that
time, and shull thereupon and before the tenth
day of June following, give notice by public ad
vertisement to bo inserted twice a week for two
wooks In two newspapers published In the city
and county of San Francisco, and also In one
newspaper published in the city ot Oakland,
and also in one newspaper published In the city
of Lo* Angeles, and also one newspaper pub
llshed tn the city of Saoramento, stating the
number of bonds so drawn nnd that the princi
pal of said bonds will be paid on presentation
tn the troasurer on or beforo the second day of
July following, and from and after inch last
na ned date all Interest upon bonds thus drawn
shall cease, i.n 1 U shall be tho duty of the trea
sin er as soon »s said bonds so drawn by lot are
surrendered to him nnd paid to cancel the same
and the interest coupons thereon, and each year
beglnlnng with the year nineteen hundred and
fifty-one, the said treasurer shall. In the man
ner aforesaid, proceed to draw by lot such an
amount of bonds as shall be requisite to ex
haust as nearly as may be the amount In saia
sinking fund, and proceed In the manner herein
above stated. After the payment of all Bald
bonds, the surplus or balance remaining In said
sinking fund, If any there be, shall forthwith
be paid Into the San Franolsco harbor Improve
ment fund. At tho lime of the respective draw-
Ings by lot, as nforosald, and also at the ma
turity of said state bonds, said treasurer shall
sell the United States or other bonds then in
said sinking fund, at governing market rates,
afto* advertising the sale thereof In the manner
herolnbofore provided for tho sale of bonds here
by authorized to bt> issued, and Hhall use the
procoods for the payment of such bonds as may
be drawn by lot, and ut the maturity of said
bonds outstanding shall pay and redeem suld
matured outstanding bonds out of said moneys
in said fund tn extinguishment or said bonds on
controllers warrants duly drawn for that pur-
SCO. 6. The state controller und the state
treasurer shall keep ful 1 and particular account
und record of alt their proceedings under this
act, and they shall transmit to thu governor an
abstract of all such proceedings thereunder,
with an annual report, to be hjrtha governor laid
before the legislature biennially ;und ull books
and papers pertaining to the maltjr provided
for in this act shall at all times be optm to tho
inspection of any party interested, or the gov
ernor, or tho attorney-general, or a committee
of either branch of the leg sUture, or 'a joint
committee of both, orof any citizen of the state.
Sec 7. It shall be tne anty of the state trea
surer to pay tho Interest of said bouds. when
tho siunu fulls due, out of the slnkiuK fund pro
vided for lv this uct, on controller's warrants
duly drawn for tbat purpose.
8 This uct. If adopted by thy people, shall
take effect on the thirty-first day of December,
nineteen hundred und ten, us to ull its provi
sious except those relating to and necessary
fot its submission to the people, und for return
iu.r, canvassing and proclaiming tbe votes, and
as to said excepted provisions tuis act shall
take effect Immediately.
Sue 0 This aot shull be submitted to the
people of the State of California, for their rati
fication at the next general election to be holden
lv the month of November, nineteen hundred and
ten, und all ballots at said election shall have
primed thereon and at the end thereof, tbo
words, "For the Sun Franolsco Harbor Improve
ment Actof lUUU," and In the same square under
said words tho following, In brevier type : "This
vet provides for the improvement of Sun Fran
cisco harbor and for tho paymont of all costs
thereof out of tha San Francisco Harbor Im
provement Fund." In the square immediately
bjlow the square containing said words, there
shall be printed on said ballot the words:
"Against vhe Sun Franolsco Harbor Improve
ment Act of 191W," and Immediately below said
words, "Against the San Francisco Huroor Im
provement Act of 1909." in brevier type, shall
be printed, "This act provides tor the Improve
ment of San Franolsco harbor, and for the pay
ment of all costs thereof out of the San Fran
cisco Harbor Improvement Fund." Opposite
the words "For the San Francisco Harbor Im
provement Act of 1009," and "Against tbe San
Francisco Harbor Improvement Act of 1919,"
there shall be left spaces in which tha voters
may make or stamp a cross to indicate whether
they vote for or against said uct. and those vot
ing for said aot suall do so by placing cross op
posite the words "For tho San Francisco Har
bor Improvement Aotof llK)9."and all tnoso vot
ing against tne snld aot shall do so by placing
a cross opposite tho words " Against the San
Fraucisco Harbor Improvement Act of 190U "
The governor of this stale shall Include the
submission of this act to tho people, as afore
said, in his pioclamatiou calling for said gen
eral eleotion. '
Sec. 10, The votes cast for or against this act
shall be counted, returned and canvassed and
declared in the same manner and subject.tothe
same rules as votes cast for state officers; and
if it shall appear thai said uct shall have re
ceived i majority of all the voies cast for and
against it ut said election as afrreaaid, then
the same shall have effect as hereinbefore pro
vided, und shall be Irrepealable until the prin
cipal nnd Interest of tho liabilities herein cre
ated shall be paid and discharged, and tbe gov
ernor shall make proclamation thereof; but If
a majority 'of ithe votes cv« as aforesaid are
uguiuMt this uct then the sumo shall bo and
become void.
Sec, 11, It shall be the duty ot the secretary ot
state to have this act published in at least one
newspaper in each county or city and county, If
one be published therein, throughout this stute,
for three months next preceding the general
election to bo holden in the month of November,
nineteen hundred und ten tho costs of publica
tion shall be paiu out of the San Francisco har
bor Improvement fund, on controller's warrants
duly drawn for that purpose.
Sec. lsJ. This act may be known aud cited as
the -San Francisco Harbor Improvement Act
Sec. 13. All acts and parts of acts In conflict
with the provisions of this act are hereby re-
P6Uled - VV. R POKTEU, -
President of the Senate.
P. A. Stanton,
Speukor ot tho Assembly.
Approved March SO, A. D. lUOU.
J N. Gillett, Governor.
Endorsed: Filed in theomeeof tbe Secretary
of Stute the 20 day of March, A. D. lUuil. at 4
o'clock P. M. C. F. Curry, Secretury of State.
11. S. tloescb. Deputy.
ASSEMBLY BILL NO. 990
Passed tho Assembly, March 4, A. D. 1909.
Clio Lloyd, Chief Clerk of the Assembly.
Passed the senate, March 11, A D. 1909. Lewis
A 1A 1 Hllborn, Secretary of the benate.
Tills bill was receive J by the Governor, this
20 duy of Mar., A. I). HMD. Nt 12 o'clock M. E. C.
Cooler, Prlvato Secretary of the Governor.
Cuapikb :is3. An act authorizing tho construc
tion, acquisition, malntenaiioo anil control of
a system of state highways in the State of
California; specifying the work, flxlug the
payments to bo mado by counties for moneys
exiiended therein; providing tor the Issuance
and Hale of state bonds tv create a fund for the
construction and acquisition of such system:
creating a sinking fund for the payment of
said bonds; and providing for the submission
of tilts act to a vole of the people.
The people of the State of I 'allfornlii. represented
in senate and assembly, do enact as follows.
Section 1. A system of slate highways in and
for the State of California shall be constructed
and acquired as and in the manner provided
by luw by the department of engineering of said
stiito at a cost not to exceed eighteen million
doll am. For the purpose of providing for the
payment of the cost of tho construction or acqui
sition or said system of said highways, the State
of California is hereby authorized to incur au In
debtedness in the manner provided by this act
In the mini of eighteen million dollars.
Immediately after the Issuance of the procla
mation of the governor, as provided In section II
of this act, the treasurer of the state shall pre
pare eighteen thousand suitable bonds of the
wtiitii of iCallforula lv the denomination of one
thousand dollars each, to ba numbered from 1
to 18,000 Inclusive, and to bear the date of the
third day of July, 1811. The total Issue of said
bonds Hhall not exceed the sum of eighteen mil
lion dollars and they shall bear interest at tha
rate of four per cent per annum from I lie date of
issuance thereof. The sold bonds and the In
terest thereon shall be payable In gold coin of
the United Ktates of the present standard of
value at the oftlee of the treasurer of Bald state
at tha times and In the manner following to wit:
The first four hundred of said bonds ahull be
due und payable on the third day of July, 1917,
and tour hundred of Bttld bond* In consecutive
numerical order shall be due and payable on
the third day of July, to each and every year
thereafter until and Including the third day of
July. ll«il. The interest accruing ou allot aald
bonds that shall b« sold shall ba payable at the
ofllce of tho treasurer of the slate on tha third
day of January and tha third day of July off ach
und every yeur after tne salo of the same The
Internet on All bonds Issued And sold Rhft.ll cense
on the day of their maturity and tho said bonds
so Issued nnd sold shall orl the
day of thrtr maturity tin puM as
herein provided nnd (•nnroled by thft troAsnrer
of said stAtn All bonds remaining unsold shall.
At the date of thfi maturity thereof b« by the
treasurer of thn stale canceled nnd destroyed.
All bonds Issue! pursuant to thn provisions of
this act Hlin.ll tx> signed by thft governor of this
at Ato.oniintPrKlgnod by the state controller And
endorsed by the stntn treasurer, und thn sntd
bonds shall be so sinned, countersigned And en
dorsed by the o Jtcor* who Are In office on the
third dAy of .Inly, 1911, And each of SAld bonds
KhAll Imvo thn grnAt soul of thn Htnto of Califor
nia Impressed thereon. The snld bonds signed,
connterstgned, endorsed And scaled ns herein
provided, when sold, shall be nnd constitute a
valid ninl binding obligation upon tho state of
California, though the sain thereof bo mniln At A
dAte or dntofl After the person so signing Counter
signing and endorsing, or either of them, slmll
have eoAfted to be the Incumbents of said office
or offices.
Reo 3. Appended to eAch of said bonds there
nlinll be Interest coupons so ntini-hnd that the
same may bo detached without Injury to or
mutilation of said bond. The said cou|ions
shall he consecutively numbered and shall bear
the lithographed signature of the statn treasurer
who shall bo In oftlce on the third day of July,
1911. Mo interest shall bo paid on Any of said
bonds for such time as may Intervene between
the date of Raid bond And the dAy of Halo thereof,
unless such accrued Interest shall have been,
by the purchaser of said bond, paid to the state
At the time of such sale.
B*a 3. Them shall be provided In the general
Appropriation hill sufficient money to defray nil
expense* that shall bo Incurred In the Advertis
ing of the SAle thereof, as In this Act provided.
WKO. 4 When the bunds authorized by this
act to be issued shall have been signed, counter
signed, endorsed And sealed ns In section one
provided, the state treasurer shall still the tame
in such parcels and numbers as the governor of
the state shall direct, to the highest bidder for
CAsh. The governor of the state shAll Issue to
the stAte treasurer such direction Immediately
after being requested so tn do, through and by a
resolution duly adopted and passed by a major
ity vote of the advisory board of tbe department
of engineering Hald resolution shall specify
the Amount of money which, in the judgment of
snid Advisory board shall be required at such
time And the governor of the state shAll direct
the state treasurer to sell such number of said
bonds as may be required to raise said amount
of mono} and that said bonds shall be sold In
consecutive numerical order commencing with
the first four hundred thereof. The Htntn treas
urer shall not accept Any bid which Is loss than
par value of the bond plus the Interest which
has accrued thereon between the date of sale
and the last preceding Interest maturity datn.
The state treasurer may at the time and place
fixed by him for said sale continue such sale as
to the whole or any part of tho bonds offered to
such time and place as he may at the time of
such continuance designate. Before offering
any of said bonds for sale, the un Id treasurer
shall detach therefrom all coupons which have
matured or will mature beforo thedate fixed for
such sale Tho state treasurer shall glvo notice
of the time and placn of sale by publication in
two newspapers published in the city and county
of San Francisco and In one newspaper publish
ed In tho city of Oakland, In one newspaper pub
lished In tne city of Los Angeles and In one
newspaper publi'hed In the city of Sacramento
once a week for four weeks next proceeding tbe
date fixed for such Bale. In addition to the
notice last above provided for, tho state treasur
er may glvo such further notice as he may deem
advlsitble, but tho expenses and coßt of such ad
ditional notloj shall not exceed the sum of five
hundred dollars for ouch sale so advertised.
There is hereby created In and for the state
treasury v fund to be known and designated as
tho "State Highway Fund," and Immediately
after such sale of bonds the treasmor of the
state shall pay Into the state treasury and cause
to be placed in said state highway fund tho total
amount received for said bonds, except such
amount as may have been paid as accrusd In
terest thereon. The amount that shall have
been paid at such sale as Accrued interest on the
bonds sold shall be by the treasurer of the state,
immedla ely after such sale, paid Into the treas
ury of the Bttite nnd placed In the Interest and
sinking fund.
'no moneys placed in the state highway fund,
pursuant to the provisions of this section, shall
be used exclusively for the acquisition of rights
of way for and the acquisition and construction
of sal J system of state highways. The route or
routes of snld state highways shall be selected
by the department of engineering, and said route
shall b" so selected aud said highways bo laid
out and constructed or acquired as to constitute
a continuous and connected state highway sys
tem running north and south through the slate,
traversing the Sacramento and Han Joaquln
valleys and along the Pacific coast by the most
direct and practicable routes, connecting the
county seats of tho several counties through
which it pasties and joining the center' of popu
lation, together with such branch roads as may
be necessary to connect therewith the several
county seats lying east aud west of such state
highway
. Moneys shall be drawn from said state high
way lund for the purposes of this act upon war
rants duly drawn by the controller of the state
upoß demands made by the department of en
gineering und audited by the state board of ex
aminers.
Beo 5. There la hereby appropriated from the
general fund in the state treasury such sum
annually as will be necessary to pay the prin
cipal of and the Interest on the bonds, issued
and sold pursuant to the provisions of this act,
as said principal and interest becomes due and
payable.
There shall be collected annually in tho
same manner and at the same time us other
state revenue Ik collected such a sum In addi
tion to tho ordinary revenues of tho state, as
shall bo required to pay the principal nnd In
terest on said bonds ns herein provided, and
It Is hereby made thg duty of all officers
charged by law with any duty In (regard to
the collection of snld revenue, to do and per
form each und every act which shall be nec
essary to collect such additional sum
Tne treasurer of the state shall, on the first
day of January . 1912. and ou the first duy of
each July and the first day of each January
thereafter transfer from tho general fund of
the slate treasury to the Interest and Kinking
fund such nn amountof 'the money by this
act appropriated as shall be required to pay
the Interest on the bonds theretofore sold,
until the Interest on all of sold bonds so sold
shall huvc been paid or shall have become
due in accordance wllli the provisions of this
net.
Thero Is hereby created In the state treus
ury a fund to be known and designated us
the " State Highway and Sinking Fund."
The treasurer of tho state shall on the first
day of July oftlm yenr 11117, and on tho first
duy of July ol each and every year thereafter
In which a parcel of the bonds sold pursuant
to the provisions of this act shall become
due, transfer from th. general fund of the
state treasury to the said state highway sink-
Ing fund such nn amount of the moneys np
prlnted by tills act ns may be required to
pay the principal of tho bonds so becoming
due und payable in such yours.
Nee. U. The principal of all of snld bonds
sold shall be paid at the time tho sumo In;
come due from the shite highway sinking
fund, and the interest on all bonds sold
shall be paid at the time said Interest be
comes due fiom tho interest und sinking
fund. Hot li Interest uud principal sliull bo so
puid upon warrants duly Urnwn by the con
troller of the state upon demands audited by
the state board ol examiners, und the faith
of tho Minus of California U hero pledged for
the payment of said bonds so sold und thu In
terest accruing thereon.
Sec. 7. The state controller and stnte treas
urer shall keep full und particular account
aud record of ull their proceedings under this
net, und (hey shall transmit to the governor
In triplicate un abstract of ull such proceed
ings thereunder with nn unntiul report In
triplicate, one copy of each to be by the gov
ernor laid beforo euch house <>f tint legisla
ture biennially. All books und papers per
tainlng to the matter provided for In this
net shall, at ull times, be open to the inspec
tion of uny purty interested, or the governor.
or the attorney general, or v committee of
either brunch of the legislature, or v joint
committee of both, or uny citizen of the
state.
Sec. 8. The highway constructed or ac
quired under the provisions of till* uct shall
bo permanent in character, und be finished
with oil or mueudnm or a combination of
both, or of Mitch other material us in the
Judgment of mild department of engineering
► hail be most sultuulo uud best adapted to
thepurtlculur locality traversed. The state
deportment of engineering, In the name of
tho people of the State of California, may
purchase, receive by donation oi dedication,
or lease uny right of way, rock quarry or
land necessary or proper iorthecouNtruction,
use or mulutenunca of said state highway,
und shall proceed, if necessary, to condemn
under the provisions of the Code of Civil
l'rooedure relating to such proceedings uny
necessary or proper right of way, lock quarry
or land. The department of engineering
chilli havo full power and authority to pur
chase ull supplies, material, machinery, and
to do all other things necessary or proper In
the construction and maintenance of suld
•tute high way. With the exception of thoae
public highway* which have been perma
nently Improved under county or permanent
road division bond Usues within three years
prior to tho adoption of thin act, all publlo
highways within thin state lying within the
right of way of said itute highway an deter
mined nnd adopted by the departineul of
engineering ahull bo aud (be same slmll be
pome n part ofthr> right of wnyof said Mate
hlahwnv, without compensation bring paid
therefof ; provided nothing herein contained
shnll require the shite to mnlnlnln nny Mich
wat along or on snld rluhl of wny prior to
thi" completion or acquisition of the permn
ijcnt Improvements contemplated by this
net. Whenever nny money received from
the sole of bond* under tho provisions of this
not. shall he expended In nny comity In this
state, such comity must pay Into the state
treasury Mich Mini e«ch yeur ns shall oqnni
the Interest, nt. tho rotn of four per cen-t per
Annum upon thn entire sum of money ex
pended wllhln such county In the construc
tion of snld Rtntp highway, less such portion
of sold nmonnt expended as tlieboiula mntur
e<l under the provisions of this not shnll
bear to the tolnl number of bond* "old nml
outstanding. All highway* constructed or
nequlred under the provisions of this Art
shall lie perma.iently mnlnliilned nnd con
trolled by tho Male of Call Com In.
Hce. !>. Thin net. If adopted by the people,
onnll take effect on the thirty first day of
December, 1910, ns to nil It* provision* except
tliDso relating to, nnd necessary for, Its nub
mission lo the people nnd for returning, can
vassing and proclaiming the votes, nnd «» lo
such excepted provision* this net Hhall take
effect Immediately.
Sit. Id. This net nhnll be submitted to the
people of Hi" State of California for their ran
ilcntlon at the next general election In he
hidden In the month of November, 1010, A.1).,
and all ballot* nt Niiltl election slntll havo
printed thereon, nnd lit the end thereof, the
words ''For the state highway act;" nnd In a
separate lino, under tho same, tho words
"Against the Htntn highway net.*' Opposite
said lines there Minll be lefi space* In which
tho voters may make or stnmo across to In
dicate whether they vote for or against said
not, nnd those voting for wild act shall do sn
by placing n cross opposite the words "For
the state highway net," nnd all those voting
•gainst the said nctshnll do no by placing v
cross opposite tho words "Against the state*
highway act." The governor of this state
shall Includothe submission of this act to the
people, nH aforesaid, in his proclamation
vail Ing for said general election.
Sec. 11. The votes cast for or against this
act shall be counted returned and canvassed
nnd declared In the same manner and sub
Ject to tho same rules us votes cast for state
ollloei-K, nnd If It appears that said actshall
havo received a majority of all the votes cast
for and against It nt. such election, as afore
said, then the Fame shall hay» effect as here
inbefore provided, and shall be irrepenlahle
until tho principal and interest of the liabili
ties herein crentod shall be paid and dis
charged,and the governorshall make procla
mation thereof. But if a majority of tho votes
cast, as aforesaid, are against this act then
the xamcshnll be and become void.
Sec. 12. It shall be tho duty of the secretary
of state to have this act published In at least
one newspaper lti each county or city and
county, If one be published therein, through
out this stnte, for three months next preced
ing the general election to be holden In the
mouth of Novembor, A. 1). nineteen hundred
and ten: the cost of publication shall be paid
out of the general fund, on controller's war
rants duly drawn for the purpose.
Sec.' l 3. This act shall be known and cited
as tho 'State Highway Act."
Sec. H. All acts and parts of acts In conflict
with the provisions of this act are hereby re-
P. A. Stamton,
. • Speaker of tho Assembly.
W. R. Porter,
President of the Senate.
Approved March 22nd, A. D. 1909.
J. N. Gilmstt, Govornor.
Endorsed: Filed in the office of tho Secre
tary of State the 23 day of March, 1909, at 9.30
o'clock a.m. C. F. Curry, Secretary of State
By J. Hoesch, Deputy.
SENATE BILL NO. 227.
Passed the benate February {l7, A.D. 190 C.
Lewis Hilborn. Secretary of the Senate.
Passed the Assembly, March 10, A. D. 1909.
Clio Lloyd, Chief Clerk of the Assembly.
This Bill was received by the Governor, this
15th day jof March, A. D. 1909, at 3 o'clock p. m.
E. C. Cooper. Private Secretary of the Gover
nor.
Chapter 407. An Act to provide for the issu
ance and sale of state .bonds to oreate a fund
for the acquisition by tbe board of state har
bor commissioners of a necessary area for a
tidal basin for wharves, docks, piers, harbors
und appurtenances in the city and county of
San Francisco : to create a sinking fund for the
payment of said bonds; and defining the du
ties of state officers in relation thereto; mak
ing an appropriation of one thousand dollars
' for the expense of printing said bonds; and
, providing for tbe submission of this aot to n
vote of the people.
The people of the State of California, repre
sent co 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
bor commissioners for the acquisition of the
necessary area for a 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 direot
the board of state harbor commissioners to in
stitute condemnation proceedings against cer
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 ovjr the same, and providing for
the payment of judgments from the proceeds
of 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
a fund for ;the; acquisition by the board of
state harbor commissioners of a necessary
area for a tidal basin for wharves, docks,
piers, harbors, and appurtenances In the city
and county of San Francisco; to create a sink-
Ing fund for the payment of said bonds ; and de
fining the duties of state officers In relation
thereto; making an appropriation of $1.1)00 for
the expense of printing said bonds; and pro
viding tor the submission of this act to a vote
of the people," the state treasurer shall, imme
diately after the issuance of the proclamation
by the governor, provided for in section 10 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 at
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 at the omcoof the state treasurer at the
expiration of seventy-four years from thelrdate,
subject, however, to redemption by lot as in
this act hereinafter provided. Said bonds Bhall
bear date the second day of January, A. D.
1911, and shall be- made payable on the second
day of January, A. D. 11185 The Interest
accruing on such of said bonds an are sold shall
bo due and payable at the office of the state
treasurer on the second day of January, and on
the second day of July, of each year after the
sale of the sumo: provided, that the first pay
ment of Interest shall be made on the second
day of January, A. O. 11)13, on so many of
said bonds las have been theretofore sold.
At the expiration of seventy-four years from
the date of said bonds, all bonds sold shall
cease to bear Interest, and likewise all
bonds redeemed by lot shall cease to bear
Interest as in this act provided, and the said
state treasurer shall call in. forthwith pay and
cancel the same, out of the moneys in the India
basin sinking fund provided for in this act,
und be shall on the first Monday of January.
A. D. 1985, also cancel and destroy all bonds
not theretofore Isold. All bonds issued shall
be signed by tho governor, and countersigned
by the controller, and shall bo endorsed by
the state treasurer, and each shall have the
seal of the state stamped thereon Each bond
shall contain a clause that It Is subject to
redemption by lot after the year nineteen hun
dred and thirty-nine.
Kko. 3— Interest coupons shall be attached
to each of said bonds, so that such coupons may
be removed without injury to or mutilation of
the bond. Said coupons shall be consecutively
numbered, anp shall be signed by the state
treasurer. Hut no interest on auy «>f said bonds
shall be paid for any time which may Intervene
between the date of any of said bonds and the
issue and sale thereof to a purchaser.
Ski;. 3. 'Tho gum of one thousand dollars is
hereby appropriated ito pay the expense that
may be Incurred by the state treasurer in hav
ing said bonds prepared. Said amount shull be
paid out of the ''San Francisco harbor improve
ment fund " on controller's warrunls duly
drawn for that purpose.
Sue. 4. When the bonds authorized to be
issued under this not shall be duly executed,
they shall be sold by the state treasurer at pub
lic auction to the highest bidder for cash, in
such puroels and numbers as said state treas
urer shall determine; but said treasurer must
reject any and all bids for said bond, or for any
of them, which Bhall be below the par value or
said bonds so offered for sale, and ha may by
publloanoounoementat tbeplaoeand timutlxuU
for the sale, for good and sufficient cause, con
tinue such sale as to the whole of the bonds
offered, or any part thereof offered, to suob time
and plaoe as be may select, not exceeding, how
ever, sixty days. JJue notice of the time and
place of sale of all bonds, and of the postpone
ment of sale thereof, 'must be given by said
treasurer by publication in two newspapers
published in the olty and county of Sao Fran
cisco, and also by publication In one newspaper
Fiubllsbed iv the city of Oakland, and by pub
loutluu luoua newspaper published in the olty
of Los Angeles, and by publication In one ve w«
paper published In toe city of S»oruuieuto,ouce
• irnck during fonr weekß prior to such sftle.
Thecetitsnt such publication shall bfl paid out
of th« •■ San Pranolsoo harbor Improvement
fund" on controller's warrants, duly drawn for
that, purpose Tho proceeds of the sale of such
bond* ahull be forthwith paid over by said
treasurer into the reiwury, nnd must bo by
htm kept In a separate fund tn be known and
designated i.n the "Indlt Ilasln fund," BDd
must be u*ed exclusively for the acquisition of
the area described' tn the not referred to In sco
tion I hereof. Drafts and warrants upon said
fund shall be drawn upon nnd shall be paid out
of said fund In the snme manner ns drafts and
warra'tts are drawn' upon And paid out of the
••San Fraoclsao Hwftor Improvement Fund."
Hki\ 5. For the pavmnn tof the principal and
interest of said bonds n sinking fund, to be
known and designated *% the "India B»sln
Sinking Fund," shall bo, and the same Is here
by cre.ited, as follows, to wit: Tho state
treasurer shall, on the first day of each
and every month after the second day of
December, A. D. 1928. take from the
" Snn Franolsco harbor improvement fund."
such sum ns, multiplied by the the time the
bonds then sold nnd outstanding have to run
will equal tha principal of tho bonds sold and
outstanding at tho tlmi said treasurer shall so
take said sum from said Ban Francisco harbor
Improvement fund, loss the amount theretofore
taken therefrom for said purpose; and he shall
plaoe the sum in the India basin sinking fuod
created by this aot. Said stale trensurershall,
on controller's warrants duly drawn for that
purpose, employ tho moneys in satd sinking
fund in the purchase of bonds of the United
States, orof tha State of California, or of the
several counties or municipalities of thn State
ot California, wbiensaid bonds shall be kept in
n proper recoptaclo appropriately labeled; but
he must always keep on band a sufficient
amount of money tn said sinking fund with
whloh to pay the interest on such of the state
bonds herein provided to be Issued as may have
theretoforo been sold. And to provide means
for the payment of interest on the bonds that
may bo sold and outstanding, said treasurer
shall monthly take from the San Francisco har
bor Improvement fund, and puy Into saldln
dln basin sinking fund, an amount equal to the
monthly Interest then due on all bonds then
•■old, delivered and outstanding. The board of
state harbor commissioners is hereby author
ized and directed by tbe collection of dockage
tolls, rents, wharfage and oranage, to collect
a sum of monoy sufficient for the purposes of
this net. over and above tho amount limited
by section two thousand five hundred and
twenty-six of the Political Codo of tlie Stale
of 'Inllfornlii, Between the (list nnd tenth
day of November, In the yenr nineteen hun
dred and forty, nnd between the first and
tenth dnyof November of each year there
after until the maturity of said bonds the mild
treasurer shall, in the presence cf the gover
nor, proceed to draw by lot such an amount
of bonds as shall be requisite to exhaust as
nearly as may be the amount In suid sinking
fund at that time, and Hhall thereupon nnd
before the tenth day of Doc-ember following,
give notice by public ndvi-rtlsemcnt to be In
serted twice a week for two weeks In
two newspapers published in the city and
county ef Snn Francisco, and also ill one
newspaper published in tho city of Oakland,
and also in one newspaper published In Ihe
city of Los Angeles, nnd also In ono news
paper published' In tho city of Sacrumento,
stating tho number of bonds so drawn, und
that the principal of snld bonds shall be
paid on presentation to tlie treasurer on or
before the second duy of January, following,
and that from and after such lust named
date all interest upon bonds thus drawn shall
cease, nnd It shall be the duty of the treas
urer as soon as said bonds so drawn by lot are
surrendered to him nnd pald,',to cancel the
same, and the interest coudoos thereon, and
each year, beginning with the year nine
teen hundred and forty, the suid treasurer
shall, In the manner afore»nld, proceed to
draw by lot such nn amount of bonds ss shall
be requisite to exhaust us nearly as may be
the amount in said sinking fund, and pro
ceed in (he manner herelnabove stated. After
the payment of all said bonds, the surplus
or balance remaining In said sinking fund, If
any there be,|shall forthwith be paid into the
San Francisco harbor improvement fund. At
the time of tho respective drawings by lot, us
aforesaid, und also ut the maturity of said
state bonds, snld treasurer shall sell the
United States or other bunds then In said
sinking fund, at governing murkot rates, after
advertising the sale thereof In the manner
hereinbefore provided for the sale of bonds
hereby authorized to be issued, and shall use
the proceeds for the payment of such bonds
as may be drawn by lot, and at the maturity
of said bonds outstanding Hhall pay and re
deem said matured outstanding bonds out of
said money in suld fund In extinguishment
ofsald bonds on controller's warrants duly
drawn for that purpose.
SEO. 0. The state controller- aud state treas
urer shall keep full and particular account and
record of all their proceedings under this act,
and they shall transmit to the governor un ab
stract of all such proceedings thereunder, with
an annual report, to bo by the governor laid be
fore the legislature biennially; nnd all books
and papers pertaining to tlie matter provided
for In this act shall |ut all times be open to tho
Inspection of nny party Interested, or the gover
nor, or the attorney general, or a committee of
either branch of the legislature, or a joint com
mittee of both, or any citizen of the state.
SEO. 7. It shall be the duty ot the state treas
urer to pay the Interest of said bonds, when the
same falls due, out ot the sinking fund provid
ed tor in this act, on controller's warrants duly
drawn for that purpose. '
SEO. 8. This act. It adopted by the people,
shall take effect on.the thirty-first day of Decem
ber, A. D. nineteen htmdrod and ten, as to all
its provisions except those relating to and neces
sary tor Us submission to the po:>pli\ and for
returning, canvassing, and proclaiming the
votes, and as to said excepted provisions this act
shall take effect immediately.
Sec. 9. This act shall be submitted to the peo
ple of the stnte of California for their ratification
at tbe next generall olactlon to be holdnn in the
month of November, A. D. nineteen hundred and
ten, and all ballots at said election shall havo
printed thereon, the words, "For the India Basin
Act," and In the snme square, under said words,
tlie following in brevier type: "This act provides
for the acquisition of a tidttl basin in the bay of
(Son Francisco for harbor purposes, and for the
payment of all costs thereof out of the -San
Francisco Harbor Improvement Fund." In the
square Immediately below the squiiro containing
said words, there shall be printed on said bal
lot, the words "Against tho India Itasln Act,"
and immediately below said words " Against the
India liasin Act," In brovler type, shall be
printed : "This act provides tin- the acquisition
of v tidal basin in tint bay of Han Francisco, for
harbor purposes, and for the payment ot all
costs thereof out of the ".sail Francisco Harbor
Improvement Fund." " Opi>oslta the words "For
the India ;Hastn Act," und " Against tbe
India Basin Act," there shall be left
spaces in which tho voters may make or
stamp a cross to indicate whether they vote
tor or against said a.-t. and those voting for
said act shall do so by placing a cross opposite
the words "For the India Basin Act," and all
those voting against said act shall do so by plac
ing a cross opposite the words "Against the India
Basin Act." Tho govornor of tills state shall in
clude the submission of thin act tn the people, us
aforesaid, in his proclamation culling for said
general election.
Seo. 10. The votes cast for or against this act
shall be counted, returned a> -t eanvussed and
declare! In the same manna*, and subject to the
mime rules as votes cast for ttate otnuers; nnd If
it appear that said uct < flail ,huvo reuelvod v
majority of all tho votev .:.isl for and ugulimt It
at said election as •«» >i-«s;ild, then the same
tilmllliuvou!ri<cr.it<'. hereinbefore provided, and
shall be lrrei>»*.iable until the principal and in
terest of i\<: liabilities herein created shall be
paid »t1 discharged, and the governor shall
malte proclamation thereof ; but if a majority of
the votes cast as aforesaid are against this act
then tlie game shall be and become void.
bkc. 11. It shall b» the duty of the secretary of
state to have this act published in at least one
newspaper lv each county, or city and county,
if one be published therein, throughout tills
state, for three mouths next preceding the gen
eral election to ba holden in tlie month ot No-
vember, A. D. nineteen hundred and ten; the
costs ot publication shall be paid out of the gen
eral fund, on controller' s warrants, duly drawn
for that purpose.
si.;<: 13 This act shall be known and cited as
the "India Basin Act."
Hko 13. All acts and parts ot acts In conflict
with the provisions of this act are hereby re
iionled.
. W. It. POHTKIt,
President ot the Senate,
P. A. HTANTON,
Speaker of the Assembly.
Approved March 2ith A. D l'JOj
J. N. OiLLETT, Governor.
Endorsed: Filed In theodlueef th» Heoretury
of state lilieii duy ot March, A. I>. Ismm. iu'.i.mo
o'clock a. in. (! F. Curry, Secretary of state. Uy
J. lioeaeh. Deputy.
SENATE BILL NO. 464.
I'ukmml thu Senate. March 12, A. 1). 1909.
Lewis A. Hilbom, Secretary of Urn Heuate.
Pushed the M-» Miil.ly Mui'itli 21), A. It. I!HI'I.
Clio Lloyd, Clilei' Clerk of the Assembly.
Tlilk bill wus received by tho Uovernor this
23d duy or March. A. 1>- UN". " t 5 o'clock p. ill,
K. C. Cooper, l'rivutu Nuvi'uttu y of the Uover
nor,
Ciiai-tkk «-': l. All Act to provide for the Issu
ance and Hale of state bouda to create a
fund for the construction by the board of
siati< harbor oommlskioneni for the buy of
Hun Diego of harbor Improvements, to con*
sNt of v seawall, wharves, piers, Klute lull
rood, «pnr», betterments nnd nppnrton»ncp»
In tho comity of Han Diego; to create A
sinking fnnii for tho payment of sAld
bonds; to define tho dulles of statn officers
In relation thereto; to mnksnn Appropria
tion of one thousand five hundred, dollars
for the expense of printing snld ixwds, nnd
to provide for the submission of this Art lo
a vote of I he people.
The people of the Stnte of California, rep
resented In senate nnd assembly, do ennct
is follows:
HF.criow 1.- For the purpose of providing a
fund for the payment of the Indebtedness
hereby nuthorlzod to bn Incurred, by the
hoard of state harbor eomtnl««lonor* for the
hnvof Ran Diego tor harbor Improvements,
consist of thn erection of a seawall, wharves,
piers, strife railroad, spurs, betterments and
appurfennncps In the county of Hun Dlegn, nt
a cost not to exceed one million live hun
dred thousand dollars, which said sen wall,
wharves, piers, state rnllrond. spurs, better
ment* nnd appurtenance* the snld board of
slate harbor commissioners for San Diego
buy nre hereby empowered to construct In
tho ninnner authorized by law, nt n cost not
to exceed one million five hundred thousand
dollar*, the state treasurer shall, Immediate
ly nfter the Issuance of the proclamation of
the governor provided for In section ten of
this net, prepnre fifteen hundred suitable
bonds of the Htate of California In the de
nomination of one thousand dollars each, to
bo numbered from one to fifteen hundred.
Inclusive, and to hear date of the second day
of.lulr, nineteen hundred eleven. The total
Issue of snld bonds shall not exceed the sum
of one million Jlvn hundred thousand dot*
lars, and they 'shall bear Interest at the rate
of four percent per annum from the dnte of
Issuance thereof. The said bonds nnd the
Interest thereon shall he payable In gold coin
of the United Htntesof the present standard
of value, at the office of the state treasurer of
said stnte, on the second day of July, nine
toeu hundred eighty-five, subject, however,
to redemption by lot ns In this act herein
after provided. The Interest accruing on all
of said bonds that shAll be sold shall be pay
able at tho otllee of the treasurer of lliosiat."
on the second day of January nnd tho second
day of July of euch yeur ntfer tho snle of the
same. At the expiration of seventy-four
years from tho date of said bonds, all bonds
shall oonse to bear Interest, and likewise all
bonds redeemed by lot as hereinafter pro
vided shall cease to bear Interest according
to the provisions of this net, and the state
treasurer shall call In and forthwith pay
nnd cancel the Kiime out of the moneys in
the Sun Diego seawall sinking fund provided
for in thin uct. nnd he shall on the date of
the maturity of said bonds cancel nnd des
troy all bonds not Iheretoforo sold. All bonds
remains unsold shall, at tbe date of matur
ity thereof, bo by tho treasurer of tbe stale
canceled nnd destroyed. All bunds Issued
pui'HimntM to the provisions of this act shall
bo signed by the governor of this state,
countersigned by thu slum controller, and
endorsed by the state treasurer, nnd the said
bonds shall be so signed, countersigned aud
endorsed by the officers who nre in office on
the second day of July, nineteen hundred
eleven, and euch of said bonds shall have
the great seal of tho State of California Im
pressed thereon, nnd said bonds signed,
countersigned, endorsed and sold as herein
{irovided, shall be und constitute a valid ami
ilndlng obligation uoon the State of Califor
nia though the sale thereof be made at a date
or dates after the person so signing, counter
signing nnd endorsing, or cither thereof.
shall have ceased to be an Incumbent of
said ofllce or offices.
HeC. 2. Appended to ench of said bonds
there slinll be interest coupons so attached
that the same maybe detached without In
jury or mutilation of said bonds, and said
coupons shall be consecutively numbered,
and shall beur the lithographic signature of
tho state treasurer whoshall be In office on
the second duy of July, nineteen hundred
eleven. No Interest shall be paid on any of
Niild bonds for such time as may Intervene
between the date of said bond and the day
of sale thereof, unless said accrued Interest
shall havo been, by the purchaser of said
bond, paid lo the state at the time of such
sale.
sec. 3. The sum of one thousand five hun
dred dollars Is hereby appropriated out of
nny moneys In the state treasury not other
wise appropriated to pay the expense that
may ba Incurred -by the state treasurer in
having said bonds prepared. The state con
troller is hereby authorized and directed to
draw his warrant for the expense Incurred
In preparing the snld bonds, and the stuto
treasurer is hereby directed to pay the name. .
Sue, 4. When the bonds authorized to be
Issued by this net shall have been signed,
countersigned und endorsed, ns In section I
provided, the state treasurer shall sell the
same for cash to the highest bidder In such
parcels and numbers as the governor of the
stats shall direct, provided a resolution re
questing such sule shall have been adopted
by the bourd of stuto harbor commissioners.
for Sun Diego bay, and suld board shall not
pass sucn resolution until in their judgment
the actual harbor receipts, and those reason
ably anticipated, will justify such sale of
bonds, and te consequent Increased burden
on harbor receipts. Said resolution shall
specify the number of bonds necessary to
produce the amount of money which, in the
judgment .of suid board of harbor commis
sioners, shall be required ut such time, anil
the governor of the state shall direct the
stale treasurer to sell such number of said
bonds to raise snid amount of money, und
that said bonds shall be sold Inconsecutive,
numerical order. The state treasurer shall
not uccept nny bid which is less than the par
value of tlie bond, plus the interest which
has accrued thereon between the duto of sale
nnd tho last preceding Interest mulurliy
dittc. The stain treasurer may, at the time
and place fixed by him for such sale, con
tinue such sule as to the whole or any part
of said bonds to such time and place as he
may at the time of such continuance desig
nate. Before offering any of said bonds for
sale itho state treasurer shall detach there
from all coupons which have matured or will
mature before tho Jdate fixed |for such aale-
The state treasurer shall give notice of the
time aud place of sale by publication in two
newspapers published in thocltynnd county
of San Kruncisco, one newspaper published
in the city of Los Angeles, ono newspaper
published In the city of Sun Diego, si ml one
newspaper published In tho city of.Sacrumen
to.onci! v wepk for four weeks next preceding
tho date fixed for such sale. In addition to
the notice last above provided for. the statn
treasurer may give such further notice us he
may deem udvlsublc, but tho expenses nnd
cost of such additional notice shall not ex
ceed the sum of live hundred dollars foreuch
sale so advertised. The cost of such publica
tion shall be paid out of the San Diego har
bor Improvement fund on controller's wur
ruiitst duly drawn for that purpose, und the
troasurer must "pay the ;sume. The proceeds
of the oiile of such bonds shall ho forthwith
paid over by said treasurer Into the treasury,
a- d must be by him kept in a separate
fund to be known and designated as tba
" Sun Diego Seawall Fund," and must be
used exclusively for the construction of v sea
wall, wharves, piers, state railroad, spurs,
betterments and appurtenances thereto on the
water front of the bay of Sau Diego.
Drafts and warrants upon said fund shall be
druwn upon and shall be paid out of suld fund
in tho sumy manner us drafts and warrants are
drawn upon and paid nut of the San Diego
harbor Improvement fund.
Bkc. t>. For the payment of the principal
and Interest of snid bonds v sinking fund, to
Imi known und designated us the "Sun Diego
Seawall Hiuklni; Kuiid," shall bo nnd the
same Is hereby created, to will stute
treasurer, after the second duy of January,,
nineteen hundred and twenty-nine, shall ou *
tho llrst day of each ami every month there
after, after the sale of said bonds, lakes from
the Ban Diego harbor Improvement fund
such sum us. multiplied by the time in
months, tlie bonds then sold and outstanding
nt thu Hum suid treasurer shall so take said
siuii from, suld Sun Diego harbor Improve
nwut fund, less the amount theretofore tukeu
therefrom, for suld purpose: and lie shall
place the sum In the seawall sinking; fund
created by this act. Said stute treamuvi- shall
on controller's warrants duly dr.iwn for that
purpose, employ the moneys in suld sinking
fund lv the purchase of bonds of the United
States, or of the Htate of California, which
said bonds ahull be kept In a proper recep
tacle, appropriately hib.-lled; but he must
keep always on hand v suillcient amount of
money In suld linking fund with which to
pay t lie Interest ou such of the stute bonds
herein provided to be Issued us may have
theretofore been Hold, And to provide meuns
for the payment of Interest on the bonds that
may be sold uud outstanding, said treasurer
shall monthly take from the Ban Diego har
bor Improvement fund, aud pay into said
seawall sinking fund, un lunuiint equul to
the monthly Interest then due ou nil bonds
tiien sold, delivered and outstanding.. Tlio
bourd ofstato liarlM>r commissioners of Hun
Diego are hereby authorized and directed by
the collection of dockage, tolls, rents, wharf*
age uud cranage to collect a sum of money
suillcient for the purposcsof this not, over
and übove uny limitations existing In the
existing section of the Polltlcul Coda pf thu
State of Cullfornla. Between the nrut and
tenth day ot November, In the year nineteen
hundred and fifty, und between tho Una and
tenth duy of November of euoh year tuere
utler until the maturity of nuld bonds, the
mild treasurer auall . In tho presence of tUu
governor, proceed to draw by lot such tin
amountof bonds a* lltull b« requisite to ex
haust us nearly u» may be the amount la »«I4

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