An Act to Provide for the Issuance And Sale of State Bonds to Create a Fund for
An Act to Provide for the Issuance And Sale of State Bonds to Create a Fund for
California
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The sum of one thousand dollars is hereby appro- 2 priated to pay the expense that may be incurred by the state 3 treasurer in having said bonds prepared. Said amount shall 4 be paid out of the San Francisco harbor improvement fund 5 on controller's warrants, duly drawn for that purpose. Sec. 4. When the bonds authorized to be issued under this 2 act shall be duly executed, they shall be by the state treasurer 3 sold at public auction to the highest bidder for cash, in such 4 parcels and number...s as said treasurer shall be directed by the 5 governor of the state, under seal thereof, after a resolution 6 requesting such sale shall have been adopted by the board of 7 state harbor commissioners ; but said treasurer must reject any 8 and all bids for said bonds, or for any of them, which shall be 9 below the par value of said bonds so offered ; and he may, by 10 public announcement at the place and time fixed for the sale, 11 continue such sale, as to the whole of the bonds offered, or any 12 part thereof offered, to such time and place as he may select.
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