Commissioners to comply with such orders shall ipso facto vacate the office of the one so in default. SEC. 3. Section fourteen of said Act is hereby amended so as to read as follows: Section 14. Whenever said Commissioners shall have surplus Surrender of moneys in their hands for the extinguishment of any portion of stock. the said principal stock, as herein before provided, they shall publicly advertise for at least five weeks in some newspaper printed in the City of San Francisco, for sealed proposals for the surrender of portions of said stock, and shall state in such advertisement the amount of money which they have in their hands for that purpose; and they shall accept those proposals which shall secure the cancellation of the greatest amount of such stock and of annual interest thereafter to accrue on the same; provided, that no proposal shall be accepted at a rate above par; and in case proposals are not made, so that said stock can be redeemed as herein provided, the said Commissioners are Invest surplus funds. authorized to invest said funds in any other stock of said city or of the City and County of San Francisco, at the best practicable rates, not exceeding its par value. SEC. 4. This Act shall take effect from and after its passage. CHAPTER CLXX. An Act to amend section two of an Act entitled an Act to provide for the election of two additional Supervisors in the County of Alameda, approved April sixth, eighteen hundred and sixty-three. [Approved March 13, 1868.] The People of the State of California, represented in Senate and SECTION 1. Section two of said Act is hereby amended so as to read as follows: elect Super Section 2. Whenever the Board of Supervisors of said county New townshall have created a new township from adjacent portions of the ship may territory of the Township of Eden and Washington, including visor. in said new township the Village of Alvarado, then said new township shall have power to elect one Supervisor in manner provided by law. To be paid CHAPTER CLXXI. An Act to provide for the payment of assessments against the property of the Government of the United States for street improvements in the City and County of San Francisco. [Approved March 13, 1868.] The People of the State of California, represented in Senate and SECTION 1. The Board of Supervisors of the City and County of San Francisco are hereby authorized to allow, the Auditor of said city and county to audit, and the Treasurer to pay, out of the Street Department Fund, all claims not heretofore paid for assessments that have been made, or that may hereafter be made, pursuant to law, against the property of the Government of the United States for street improvements in the said city and county; provided the Government of the United States shall by its officers refuse to make such payment. SEC. 2. This Act shall take effect and be in force from and after its passage. Issue bonds. Description. Advertise for CHAPTER CLXXII. An Act to provide funds for the School Department of the City of Oakland, and to authorize the payment of certain present indebtedness. [Approved March 13, 1868.] The People of the State of California, represented in Senate and SECTION 1. The City Council of the City of Oakland are hereby authorized to issue and sell school bonds to an amount not exceeding fifty thousand dollars, payable, at the option of the said City Council, at any time within ten years from the date of the issuance of said bonds, in gold coin of the United States, and to bear interest at a rate of not to exceed ten per cent. per annum, payable annually on the second day of January of each year, in gold coin of the United States. SEC. 2. Said bonds shall be in sums of not less than one bundred dollars, nor more than five hundred dollars, and shall be signed by the Mayor and Treasurer of the city, and shall have the seal of the city affixed thereto by the City Clerk. Coupons for the interest shall be attached to each bond, signed by the Mayor and Treasurer of the city. SEC. 3. Before the sale of said bonds the said City Council sale of bonds. shall, at a regular meeting of the Council, cause to be entered upon the records of said Council an order directing the sale of a specified amount of said bonds, and the day and hour of such sale, and shall cause a copy of such order to be inserted in a newspaper published in said city, for at least twenty days, and in any other newspaper published in the State, at their discretion, and a notice that sealed proposals will be received by said Council for the purchase of said bonds on the day and hour named in said order. The said City Council shall open all sealed proposals received by them, and shall award the purchase of said bonds to the highest responsible bidder; provided, that the said Council may reject all bids; and provided further, Rates of sale. that no bonds shall be sold for less than ninety cents, in gold coin, on the dollar par value. SEC. 4. The said Council may sell bonds at not less than par value, without the notice provided for in the previous section. SEC. 5. The amount of bonds sold, their number and dates, shall be entered upon the records of said Council in a book kept for that purpose. how ex pended. SEC. 6. The proceeds of the sale of said bonds shall be paid Proceeds, into the City Treasury to the account of the School Fund of said city; and after the extinguishment of any present indebtedness incurred by the said City Council on behalf of the School Department, to an amount not exceeding ten thousand dollars, shall be used for the sole purpose of purchasing additional lots and erecting additional school buildings; provided, that no portion of the funds thus received from the sale of said bonds shall be expended without the consent of four members of the Board of Education and four members of the City Council. SEC. 7. After any of said bonds are sold, and until all bonds Levy tax to sold are redeemed, the said City Council are hereby authorized, pay interest. and it shall be their duty, to levy annually, at the same time and in the same manner that other city taxes are levied, a tax on all the taxable property in the city, sufficient to pay the interest on all of said bonds not paid. Said tax when collected shall constitute a fund for the payment of the interest on said bonds, and shall be called the "School Bond Interest Fund;" and if any interest shall be due on said bonds, and there is no money in the said fund to pay the same, the City Council shall order the Treasurer to transfer from any or all other funds of said city, Supply except the School Fund, a sufficient sum to pay said interest. deficiency. All moneys remaining in the Treasury belonging to the School Bond Interest Fund, after all interest has been paid, shall be applied to the redemption of bonds, as hereinafter provided; provided, that in the year eighteen hundred and sixty-eight the Council may, at any time before the second Monday of July, levy a tax, as before provided in this section, sufficient to pay the interest falling due upon said bonds on the second day of January, eighteen hundred and sixty-nine. Levy tax for Redemption SEC. 8. The City Council may, at their discretion, in each year until the year eighteen hundred and seventy-eight, levy a School Bond tax not to exceed in each year ten cents on each one hundred Fund. dollars in value, on all taxable property in said city. The said tax when collected shall constitute a fund which shall be called the "School Bond Redemption Fund;" and whenever there shall stand to the credit of that fund upon the Treasurer's books the sum of one thousand dollars or more, the City Council shall advertise in a newspaper published in the city, for the space of three weeks, for sealed proposals for the redemption of said of bonds. bonds; and in one week from the expiration of the time of such publication the said Council shall open the sealed proposals and shall pay the bonds offered at the lowest price, as far as the money in the said School Bond Redemption Fund will extend; provided, that no bids shall be considered for more than par value of said bonds. Should there be no proposals made for par value Redemption or less, then the money in said fund shall be used for the redemption of said bonds according to the number of their issue, of which the City Treasurer shall give notice in the manner mentioned heretofore in this section, and after four weeks from the date of said notice the bonds proposed to be redeemed shall cease to draw interest; and if any of such bonds shall not be presented for redemption within three months from the date of said notice, the City Treasurer shall apply the money for the redemption of the bonds next in order of the number of their issue, as heretofore directed; provided, that in the year eighteen hundred and seventy-five the City Council are authorized, and it shall be their duty, to levy a tax sufficient to pay one half of the bonds then outstanding and not paid; and in the year eighteen hundred and seventy-seven they shall also provide in the same manner for the payment of all bonds issued under this Act and at that time unpaid. Cancelled. SEC. 9. Whenever any bond shall have been paid, the City Treasurer shall mark the same "Cancelled," over his signature, and return the same to the Mayor, with the interest coupons which are not then due attached. SEC. 10. This Act shall take effect and be in force from and after its passage. Additional school facilities. CHAPTER CLXXIII. An Act to amend an Act to provide for a system of Common Schools, approved March twenty-fourth, eighteen hundred and sixty-six. [Approved March 13, 1868.] The People of the State of California, represented in Senate and SECTION 1. Section ninety-eight is hereby amended to read as follows: Section 98. The Board of Trustees of any district may, when in their judgment it is advisable, call an election and submit to the qualified electors of the district the question whether a tax shall be raised to furnish additional school facilities for said district, or to maintain any school or schools in such district, or for building one or more school-houses, or for any two or all of these purposes. Such election shall be called by posting notices in three of the most public places in the district, for twenty days; and also, if there is a newspaper in the county, by advertisement therein once a week for three weeks. Said notices shall contain the time and place of holding the election, the amount of money proposed to be raised, and the purpose or purposes for which it is intended to be used. The Trustees shall appoint Election. three Judges to conduct the election, and it shall be held in all other respects, as nearly as practicable, in conformity with the General Election Law. At such elections the ballots shall contain the words "Tax-Yes," or "Tax-No," and also the name of one person as Assessor and one as Collector; provided, however, the same person may be elected to both offices. If a majority of the votes cast are "Tax-Yes," the officers of the election shall certify the fact to the Trustees, and shall also certify the names of the person or persons having the plurality of votes for Assessor and Collector. The Trustees shall issue certificates of election, and the Assessor shall, on receiving his, forthwith ascertain and enroll, in the manner provided for County Assessors, all the taxable persons and property in the district; and within thirty days he shall return his roll, footed up, to the Trustees. The Trustees, upon receiving the roll, shall deduct fifteen per cent. therefrom for anticipated delinquencies, and then, by divid ing the sum voted, together with the estimated cost of assessing Tax levied. and collecting added thereto, by the remainder of the roll, ascertain the rate per cent. required; and the rate so ascertained (using the full cent on each hundred dollars in place of any fraction) shall be and is hereby levied and assessed to, on or against the persons or property named or described in said roll; and it shall be a lien on all such property until the tax is paid; and said tax, if not paid within the time limited within the next succeeding section for its payment, shall be recovered by suit, in the same manner and with the same costs as delinquent State and county taxes. The maximum rate of tax levied by a district tax in any Maximum one year, for building purposes, shall not exceed seventy cents on each hundred dollars; and the maximum rate levied for school purposes by such tax shall not exceed thirty cents on each hundred dollars in any one year. Each District Tax Collector shall give Bonds. a bond to The People of the State of California, joint and several in form, with similar sureties as are required on other official bonds. Such bonds shall be in such penal sum as the Trustees may direct, provided it be not less than double the amount to be collected, and shall be approved by them. The Trustees, upon receiving any assessment roll from the Assessor, shall give five days notice thereof by posting a notice in three public places in the district, and shall sit for at least three days as a Board of Equalization at such time and place as shall have been named in Equalization said posted notices; and they shall have the same power as County Boards of Equalization to make any changes in said assessment roll. SEC. 2. This Act shall take effect from its passage. rates. |