I PROCL.'C.:ii.TI01{ BY fi[~ GJV.~:.;m~. PROULAllaIUG TIJE :m~ .A.OOPTIOll AHD

RATI1nc .. ~TI0N BY TIL!! P ~OPL~ OP 1rII~ ST.AT.~ O.P C.tiLL\L:2HA 01!, THAT

C ~"lTAIN P=-:OPOS:~D HHTIATI V.cl LAi'i E,J'l: 1TL~D: "AN ACT AJ'.:'HORIZilIG

BUIIJ:JIHG OP 1rH~ UNIV...W.3I'l1Y OF C.A.Ll.?0;1iUA, Alill TH.& COlfS'.ISUCTlON

OF A BUI.LDLTG POR G:~3:~~-~Ji..L us~ AS A .'.1j;CITATI0H BUL.uDIHG, 01!1 A

I3UILI,l:21G Po2~~ :E..:} US£ OF .:'HE COLL~G] Oll1 .AGRICULTU?.E, Alm OF A

BUIL:JIHG FO~~ '.I:"r:E US3 O:P rnB COLk~G~ 01? HATU:::.AL SCIET:IC~S AS A

CH -~~~1 .. ··11.,....y BUir-:-.r·rG UPOW ·n·I·:i rc····ou·rns OF :-','-ID UNI•'"'.,..·'1··,..,-:r O.E1 l!.,:, .::i· __ ~; .u..; _. , .i>l '-'-1.u v;.:. fa ;;;.... • i .J.,s..:..;;;; ~ .i.

OF 3T.Ar.L1J 101rns TO :.B~T T~i~ COST OF '~E .. { ?O:?.:·:GOliiG PU?FOS~S;

rn-:-r:~ ..l,J._...,_:J

PI:L:CIPAL Ai.JD L.H':C:~ST TO B.illC0:.3 :J'J.cl OH SAID BOHDS"; AUD

PROCL..ii.Il.:IIrG TE~ SAID ACT, AHD l.ACH l:dD ALL TH3 P~~O'v'ISlOHS

on

mrr -, l.i..1-2'

EAV2 Bi:j!!I DULY AIE:OV~D AlID l:..:JOPT~D 3Y TH~ ~L~CTORS

11. D. ON.3 THOUS.A.iID lII.i'::f.] I-ruro:~~D

TO B~ IN l'U~L

Si.::t:::te of CLlifo:cnia, . . ~ X Z CUT IV 3 D ~PA~ T w JUT. )

WHEREAS, within the manner prescribed by the Con~titution

and. lav1s of the Str.te of C&lifornia, and more than ninety dc-:.ys

prior to the date of the general election to be holden in the

month of November, A. D. 1914. the ret1uisi te number of duly

-l-

~ualified electors of said st~ta did present to and file ~ith

initiative putition, d.r..ly co..:·tii'iad in t;iO :Jt::.nnar p.L'osc:::ibed

by 1£:\1:. ras}:inc; tl:c;t the proposed. lit·u there in und here inai'ter

set iorth be s-._1bmi tted to the electors, of t}1e St[._te of

Culi:f':n·nia at the next gener~l election, to oe 11old~n in the

r:1on'th of Nover~ber, A. D. 1<314, for tr1eir upprovsl or re,)ection,

the said p:roroned ls.vi' ~oing entitled: ".An Act a'..n11orizing t.i.1e

com_.itruction of the unfinished. portion of trte lib:::ury bailJ.ing

of the University of C~lifornia, and the cons1ruction of a

b,2-il:iine for :;enr_:;ra.l u.se as a reci tl:.tion "t:milding, of ~1.

buildins for tne use of the collese of agric~lture, and of a

chemist::::y ln1ilcling, uy,on the ::;rounds oi said Universi tJ of

C&li::..o~-nia at 3erkelaj'; provicline- for the issnci!lce and sale

of str.:.te bonds to r:1eet the cost oi the foro 0oing puq--oses;

ririnci-pul n:,,1d i:n.terest to becoT".le d.ue on sr,id bonds"; and.

t,}LO "1"\:co1.·"ctdons of C t . , , . - ~ o :is it :1 t: lo n s. n e1 .u:;:;; s oi' .,cl1e Stt.te of

CE~lii'o:c11ia a.·'.-:·plicaule ti1eroto, su.omit the said. r,1--oposcd lay; to

the e lcctors of 21;.id f1tc. te c.t tne s::cLd gei-1,:: l'f.l e· le ct ion to be

A. D. One Thoust:tnd nine !:undred and Fourteen, and did cr,1.rne

suid /.ct to be d.ul~; puoLLshed for t:':~e time c.nd. in the ''.:£:~:ner

prescribed b~7 the y,rovisions of Section One of Article XVI

of t:i1e Constitution oi' the SGs.ta of Cal i:i:·ornia; and.

ITHi~~::~s. pursuant to law, the Governo1· of the StL,te o±"

Cal::.fo:rnia. did duly include in hi.s proclamation calling said

-2-

I general election, aforesaid, ti1e subr:iission of s&.id p1·oposed

Act to t11G Peoyile of tLe St1:.te of California and the :1f.::.id

1;::coposed .Act was duly submitted to ·~r1e People of the s·~~te of

Cr:i.lL~·o:cnia in coni.'.::i:rmi ty with the Cons:; i t,·L~'l.;ion bnd luv1s 0f

said state for their o.p!)roval or re ;jection at tho er.id 5onoral

election to be holden and held in t}:e mo:1th of November, A. D.

1914; a'1d

WH~~~.i~AS, purs-lumt to lav~ the votes ca.st for or against

said proposed Act were counted, returned, and canvassed and

declared in nll ros;~ccts as provided by lav.1; and.

·1m2:::~~-<i.S. the SH.ld -p:::opose d Act did 1·e ee i ve, in favor

. .. .· -~.; + ~ t 1, e :;: u J 1 , n ma Jo ... J. "y o .... ~11 the votes csst for ~nd against it at

st::.icl election a~.'orest.id, and t.t.ereuron clid become and noy; is in

full force P.nd effect as tho1·ein provided, and irrepea.lE:.ole

untiJ tho !)rincipal and intei·est of the li&-oili ties in and by

said Act created shall be f&id ~nd iischLrgcd;

No,., m;:,:.,1 · o. ·, :.,r1 ~' :; ..,; JI t ;.. __ J ... J_: ',.J;...,:.!, I, HIIU~J r . J01WS0lf, Governor of the

State o i Cr\li fornia, pu:rsua.nt to law, do ho:co by p:co ell~im:

FI::'.ST: Tirn.t ':1i thin the y11:_nner nroscribed by the

Constitution v.nd lcxis ci' t:i;.e s·~e:.te ot C::tli::.'ornia, and r::1ore t:::.;;"n

ninety du;,-s prior to .. ..;11e clc.te o:f:' t[le r:>.:{1erul election -co 1ie

hold.en in tlle month of november, A. D. 1914, the re(1ui::3ite

nu.r:iber of clnly qualified electo::.-s of Sl!.id state did prGsent

to r..n d f i 1 e :, !. th t 11 e Se c r o tar ;y o i' S t, u ·Ge o f t n s St. 1:::.. t e o f

California, a cort&ln initiative petition, duly cer~iiied

in the C'.lLnner p.rescrioed by law, ~:.sking 1;11:~.t t1::.c r,:..:oposed law

therein and :he.ceina:fter Ent forth be submitted to the e lectora

o:f the Stnte oJ Cri.liJ ornie. at the n'3xt 0 enera.l election, to

be 1iolden i::1 tho nonth of November, A. D. 1914, for tneir

e:pprovnl or ro jection, the tiri.id rroposed law being entitled:

------------·------

"An Act authorizins the cons::r-u.ction of the unfinished portion

of tile li br~ry building of the University of Californiu., e:~~d

ti.e con~' .. ruction o:f a buildi!l.g i'o:r ,:·:.::'\;;;rnl use us u ::eci ti::.vion

builling, of a builiing fo~ t~e use of the college of

agriculture, and of a building for t~a use of the collLlge of

natural sciences as a chemist17 builiing, upon the c;.counds of

s&icl Unlvarsi ty of Cr1liiornia at .Berkeley; providing for tha

issuance and sale of state bonds to ~eet the cost of the

1ore3oing pur,')oses; a...""ld 'Pl'O vi:llng the necessary m:>neys for the

"'0·1r1 S tt • ,., ~ '-"- , SECOND: That t.ne SE:tid. 3ecretury of State did_, in acc-Jrd[:r .. ce

wit}1 tnt1 ;··:revisions of' the Consti--c;.;-.·Gion and laws 01 tho S\,ute

of California s:pplie;.r:.ble t1~0..:·,1to, sabrnit t:~e ouid p1·oposed law

to the 0lectors of S£;.id state nt the s:::..:.d ge:.1eral election

A. D. One T.hour,r,nd Hino F.:und.:red and :siou.rtc~en, and clid,

p.::- lor to s·,-:.c:h election, c::mse titdcl ).ct to 0e iu.l~r puolh,hed

T:rr:::n: Purs:,.nnt Lo l~::.r.-., tr.a 'J.o v :l'nor o i l,Le J ~·L te of

p:coposed. ..:\ct ,c,as duly subr.iitted Lo tJJJ People ol' t:~o S~i:ct .. 0 of

Cali1·ornia. in conformity with the Constitution r..::d lm·,rs 0£ so.id

stat~ for their anproval or rejection at tho ca1d c0n~ral

0 l.ection ,,hi.ch v.tis 11eld in co.il otute on the

INovsmber, A. D. 1914; -4-

~~~~~~~--~~~~~~~~~~-~~-~~~~~~--~~~-~~-

. ,• "•, "04 J,<t''"',J·,.i.,;;,~ Ao/ ,,,..,,.. '• '"· ';:;.. •. ,.''\4/.:{,,., ,><.

----·----------

FO~TH: That the votes cr::.st for o:r ag[:.inst s&id proriosed

Act v;ere counted, 1.·etm:nea. a~1cl cu.nvussed and dee.Lured in all

res.,,ec"ts as pro·.-ided by law;

FI?TH: That ~~e said ~roposed Act did receive. in favor

tho:::oo f, o. 1:1.~jo:i:·i ty oi· l:.11 the votes ca.st for and. against it

at the said election aforesaid, and. thereupon did become and. no-ii

is in full i'orce nncl e:f:fect as tl1e1·ein and in t11e Constitution

of the St&te of Cnli::.':)rnia provided, and 1:r·reTiealuble until t}1e

pri~cipal nnd interest of the liaoilities in and by s&id Act

created strn.11 be paid nnd disc::nl'[;ed;

SIXTH: That t}w said Act so app:r·ove a. a::1d adopted by the

electors of tne St.::.te o:r Cc.liio:-nia in tJ:e r..ianner aj:'oresaid

was and is in the ~ords and figures following to-~it:

An aet authorizing t hP 1·nnstn1f·tion uf the un .. 1iJ1i,!,o:ll1._·d ~HJrtidn nt' thi- lihrary building of the Cnivt:·•ndo· uf <":1lifnrnia. and tlw 1·11n:-.tr·ui•tion uf a huililing fnr g,•w•ral lt.-t' a~ a rr•1·itation huilding, ,if <l build\ng- for ttu.• lJ[,:.P nf tlH• f'nl­lPI,?• nf ;1g-l'il·t1ltt1re. i.llld of a h11i!rtiru.~ ftn· t 1 1.-. ti£.:.•.· of tlie ('Ollt•ge nf natural ~,·it>JH'es a~ H ('ht•n1is1 I'.\" ht1il1ling, upon th,· gr,11111ds of :-t:1 id l~ni\·prsily of <·:ilifnrnla at B,•rkt•lt>y: provill­in;.: fi 1 r tlh·· i~~uanc·P an<i ~ah .... of ~lalt• hnnd~ to n11·,•t tta· ,·o~t of th .... for,•goin.~ Jlll?"Jll)H~·!-i. and r,royiding the llf'1•(•;..;f-:ary n101ip~·:-. fn~ thP r1:t;\'ll1Ptlt of the print:ipal and inll 1n..•:-.t to hr•­eotllP due <in :-:-aid hnnds.

The peopl(• of tlH' ::-tat<· of Cnliforn!n L1o <"n:wt n;, follows:

1-<•ction l. Tli<' r<'ge·nts of the l:nh·c>rsitv of Calif11rnia :.1..re h1.:rcb.v authorized co C1lmpletc: th!:' con><tntction of the library lmilding of tlw l'ul­ver~it~· nf California. a1u.l nlsu tu con!'itruct a building for g,•1w:·al use by said uniw,rsity as a recitation huil<ling. a building for the use 0 of th<" college of agrit:ulturf' of saitl univt_•rsity. antl a building for tlie use L•f the college of naturnl sciences of sait.l univf'·rsity as a chemistry build­ing, all on the grounds of said uniw·rsity in tlte city of B0rl,t"ley. F'or the purpose of meeting the cost of >'lll'll construction, the State of Cnli­fornia iF lwrf'l>Y nutltorizeJ to, and sha.11, in,·ur an indebtedness in the manner proYide<l by this aet, in the sum of one million eight hundrc·cl thou"and duilars ($1, S00,000).

Immediately upon the tal,ing e.ffect of this net the tr<'asurer of the state shall prepare ei;;htet)!l hundred ( H.00) ~uital•le bonds of the State of California, negotiable In form and payable to b.-.•:irer. and e:qJressing on tl1L::.ir face the obliga­tion of the State of California to pay, in gul<l coin of the {_ .. nit?d .Stati:~. the principal an1ount thereof at the resp,~l'ti\·e dates of 111aturity herP­inafter :-.pecitlei.l. tuw:-tlier \Yith interest, as ht1re .. inn.ftt:r sp1.:eit1t:_,c1, in the denon1iuation of 1.,ne thousand dollars ($1,000) each. S:iid bonds shall be numbered consecuti,·ply from one ( 1) to (•ighteen hundred ( 1 SNi) inclusive, and shall

bear datc- tlw fifth day of Janunry, 1915. The total i,;~ue of such hnnds shall not exceed the f)l"irH'iJJal ::-um nf one• rnillion Pight hundred thou­sand ,lollars ($1.80/l.lJUfJ), and i;uch bonds shall bear int,-·rf•st at the rate of four and one half per cent (-t y;;. J per annum upvn th(~ prineipal from the date then:of. '!'he said bonds and tlw lnte1·­est thereon &hall he payable in golu coin of the l:nited :,;tates :-tt tlw office nf the tn•asurer of the state, at the tiines and in tht· rn:tnt1er fnllu,ving, tu wit: Th,· firnt forty l .101 of .sa'·l hontls .shall be due and pa)·able on th,· fifth <la)· of January, 1!,:!1. ant.1 forty (.tn) of sai,J hnnl18 in con!-:+..·cuth·e nurnet'ical ordi:'t' shall be du~ ~u1ti J1ayahl0 o.n thP tifth day uf J:un1ary in ea('h a~:d l'\·cry y(~<.u· thereaft<:r, until and inC'luding the fifth day of January, l~H)i), The intt.·r"st at'1..:ruing on all of said honds thctt ~hall be solcl ~hall he payahl(, at tht: otlh.·1~ of tlw tl't:asurer nf tl11._• ::-:tatl~ on tht? fifth <lay of Januar.v and on the fifth <l")' of July l)f each and .. ,·u-y y<·:-tr nfter thl' sale of the same. The intl'l'f.'st on all bonds issued anti suhl ><hell! Cf'a~·(· on the dn)· of tlwir maturit)', and ti!<• said bonds Bo issuc,rl and sold sl1nll on the day of their maturit)· be pai,l, as IH"n'in provided, and can­c:ellecl l,y the state treasurer. All bonds remain­ing unsold shall. at the date of thC' maturity tlwreof. be cancelled and destroyed l,y the trc,a~­t:rc•r of tlw state. ,\II bonus issuv,l pursuant to the proYisior,s <>f this act slmll l,e signed by the gu\{'I'l10r of the stat.:·, t'ountersigned by thC' stnt~ controller, ancl endorsc•d hy the scate treasurer, anll <'ach of Raid bonds shall have the great seal of the :;:o te of Callforni:-t irnpressPd thereon. Th.- said bonds signed, ce>unters!grw,I. endorsc-cl aml sE-aled. ns llE'rein prodded, when sold, shall oo anti constitutt• a n1licl and bin,ling obligation 111,011 the St.it<· of Californin, though the ~ale thi.:n:.of I.ii· n,a<l<" at a d:i tc nr dates after tllf' p<·r­~nns so ~igning, cnuntf•rsigning aru.1 endorsing, nr any nf thf'tn, ~hall ha \'t· r- .. •:\Sf'.d to l)(• tltr• in­cun1bent8 of ~:titl 11tlkl~ or CJtlicl.>S.

~t·t· .• , .\tt:1d1t·d to t'a,·h nf s:1i,l bonds there :::hall 1w ,1n i11t,·rest (·oupon fill" caeh s, .. •1ni•arn1ual p~yrnf•tll 1)f int1.:•1·c·Rt tlH-'l'(•on, IH'goti:i.hlt.• in form, anti in.Ly. 1e to 1.H. .. •art·r, and expressing the obli­gation of the State of Callfornla to pny the a.mount of such semi-annual payment or Interest, In gold coin o! the United Stat.es, at the time of maturlty thereof. Said Interest c•oupons shall oo so att.uch .. d that ea~il may be detached \\'lthc,ut

L __ _

Injury to or mu1ilatlo11 nf said bond, or Injury to, mutilation of, or detachment from said bond or, the remainder or sud! coupons the time of pa)1nent or 11·h!ch has not yet ti.en reached. S~ld ,·oupons shall be ronsecuth·ely numbered In the "hronologleal ordt•r of their time or 11annent, and shall bear the lithoµraphed si~nature or the state treasurer. So interest ,hall he 1>aid on any of said bond; for such time a.s may !nter­rene between the <1:ttc or suld bond and the day or sale thereof. ,•xrept to the extent to whkh arrruerl i11terc.;t shall hare been r,ald to the state at the time o! such sale by the purchaser of sairl bond.

~ec. 3. "11en the bonds authorized by this act to be Issued ,hall han• bee1.1 si~ned, countersigned. endorsed and sealed, as In scc·twn 1 pronded, the state treasurer shall, from time to time, sell surh 11mub,•r thereof as the go1ernor or the state may direct tu the hi~hest bidder for e:csh. The :;ovemor or the state shall from time to time, issue to the state treasurer sueb directio~ immedfately after being requested so to do through and by a resolution duly adopted and passed by a majority rnte of the re~ents of the tnhersity or California. 8urh resolution shall ,p,•eify the amount of nwney which, in tbe judgment or said tlie re<;ents of the l'nirersity of California, shall t,e required at surh time, and the goven1or of the state shall direct the state treasurer to sell such number or bonds as 11ill. at the par ,·alue thereof, equal said amount of money so required according to surh resolution or the re~ents of the l'nher,ity of California. Said bonds shall be sold in conseeut!l·e numerical ord•r, save a1al ex<'ept that the state treasun•r may sell two or more bonds .,t the same time in one l·ot, which Jot, howel'er, shall be made up of bonds cun,el'Utiwly numbered, the first of which In num­b,•r shall be the first bond in number yet unsold. The state treasurer shall not accept ,mi· bitl "hkh is k:s than the par , ;llue of the bond or uonds !Jid for, a11d to the amount or the arrc•ptl'd bid there shall he added in each case, as a part or the purdlilse prire to be paid by '',e bidder, the amount or inte!"!st 11 hirh shall ha,e aeerued on the bonds bid for bet1reen the date nr the payment for said bonds alld the last r,reccding interest maturity date. Each bill shall be in writing ar,d si~ncd bi· the bidder and sealed, and shall he deposited "·ith the state treas­urer not later tha11 tile bst busine3s day f.<rcceding the date or ,ale. Each bid shall be accompanied b)' the d,;,osit wiU1 tbe state treasurer, either in cash or by rertified cherk on a reput­able bank withiu the State of California, to the order of the State of ra.lifornia, of one trnth of the amount or the par ,alue of the buntl or Jot of hands bid for. Suen deposit or each unsuccessful bidder shall IJe rel urned to him immediately u1,on the next acceptance uf his bid, :.utd such deposit of the success­ful bidder shall immediately upon the ac,cptanee of his bJd become and be the property or the State or California and t,., placecl in the state treasury to the crctlit. or the "l'nlrersit!' of California lJUildin~ fund" ber<'inalter meutloncd, and shall he crediLed to the successful bidder upon the purchase price of the boucb hltl for in case ~11,•h pri<.'e i::i paid in full hr him w!thin the t imc hereinafter pre,<'ribed. At the time of sale the state trc:csurer shall open said bicl.; ai:d accept the bid of the highest bidder for cash, save and except that no bid ;hall be acc<'rted llhlch is lower in amount than the pr <alue or the bonds bid for, alld t!Jat the state treasurer m,1y, in his di;cretion, reject all uids. Tile purchase price uf the bonds sold shall be payable within ten days after the accertance or llie tJld therefor, and if 11ot so paiJ the ,uecessful bidder shall lme no ri~ht in or to mid IJonds or ltr reason or said bid, or to the recorery or said deposit acrompan; in~ said bid. or to ,urr allowrurce or credit by reason of such deposit. 111 case the purdra.,e prke is not so paid, the bont!s so sold hut not paid for shall be resold b;- the :-tutr tre.L.°'urer upon notice a. .. ; hereinafter pn1\ic.Jed in ca.ie or uri;iuai sale. !loud.; sulrl shall be delher:mle to the pur­l'l,a;er immediately upon, and not before•, the payment of the pureh~e priC"e t!len•for. Before delirering anr of ~aid bonds, the state treasurer shall detaeh therefrom all imere.;t coupons 11ltich hare mat1u·ed before the date of the payment or the pur­rhase fJriee tlten•fnr. The state tn•asurer mw, b)· pulJlic annouuccmeut at the time and place fa,•d i,y him for said sale, ,:outirme sud1 sale to ,:;uch time and pla,•e ~ he ruay at the time of sn.id cn11tinuaw:e tle.,i;.:.'lJlt'. \\'l:l'll a sJle 1.-; so <'Ofl­ti11ucd no notice llll'r<'or need be giren, other tl:an the publlc a11J101111cl·mer1t uf sueh continuanet br the state trl!a.surcr a.s just ilt•i·t•iulJdore µrorided. Thr st.:1te trea .. un•r =-hall ~h·e notir.~ of the I ime ,u11I place uf sale l,r 1,ublicatiuu in two newspapers

I ! I i

I I

I

I i

------ ________ ._ .. ______..,_, ___ , _____ , _____ ..,.. ____ "·------

!Mlbllsbed In tile city am! eoonty or San Frmelaee, tn one ne,rs." paper publlsbtd In the rit:J or Los Anceles, ll1 OM new.l)ll;iet l)llbllsbed In the city or Oalll..nd, and In Oil!! nnspaPff publhbed In tbe city or Sa.:,ramento. ouc.., a ,.,ek ror fOIII' ,reeks. neltt lire· cedlor; Uae date tu:ed for such sale. lll &ddltkill to lbe 11Gtlet 1ut above pni,ided for, the state treasurer may 11h·e sucil Cur­t.her notice as be ma, deem a'1vlsnble, bul tllf espernie 1111d Ctlit of sud> additional notice sltall not eiceed the sum of !!Ye hun­dred dollars ($500) for eaeb sale so ad,ert!sed.

There ls hereby created in and for I.he state treasury a fund to be known and designated as the "Unlverdt.y or Caliromla building fund," and Immediately after s~b sale ol bonds the treasurer or the state shllll pay Into the state treasury and eaust to be placed In said "Unhersity of Caltrornta oolldinll fund" tile total amllUllt recel>ed from the sale of sald bonds, escept such 11mowit as may hai-e been paid as accrued Interest thereon. The amount that sltall ha1-e been paid at such sale as umird Interest on tlu bonds sold shall be b~ tile treasurer or the state, immediately alter sueb sole, paid Into the treasury of till! state and placed ln a fund to he Im.own as the "Interest and slnld11g fund of the Fni,ersity or California building bonds."

Tile mone!'S placed in tbe "Uni•erslcy of (,allfomia bulldl11g rund.'' pm,.,iant to t.!Je protlslons of Url1 section, sJJall be used llllder the direction or the regents of the Unhersitf or Callfomia eselusive)y for the completion or the construction of said llbran' lrulldlng and the construction or the other buildings Mnln~rm mentioned.

l\loneys sbaU be drawn trom slllid "Unlvemt, of California building tund," for the purposes or this act. upon warrai1ts duly dra\l'll by the controller or the state, upon claim• matle by the recents of U1e Uni,ersity of California aud approted by the state board of control.

Sec. 4. There is hereby appropriated from the 11enerd fund In the state trea.5Ul1' such sum annually as wlll be 11ete8!1nry to pay the principal of, and Interest on, the bonds ls-~rled and sold p1mmant to the provisions of this act as said prlnctpal and lutcr­est berome due and 11ayal>le. Tb~ shall be ~ollected each y"ar, and In the same manner and at tlte same time as other st.it< revenue is collected, such sum In adcllllon to cbe ordlnnry revenues of the sta.te as shall lxl ttQulred to pay the prludpal and Interest Oil said bonds maturing in said sear, and lt Is lltn!b)' made I.be duty of all offlctff charged llr law ~ltb :my dlltJ in regard to I.he lecy md colleetlon or said revenue to ,lo and perform each and "'"1'Y act wbieh shall be neces.1'11")' to eelleet suci, additional sum. . . Tbere ls btreby =ated In the state U'ell!IIAT a fund to be lncniD and desli:nated as the "Interest and nlltkin& fwid or the Unlmslty or Callfomla buildln& boods." Th• state tre11.SW'er allall, o.~ the first day of July, 1915, and on tile ftrs! day or eadJ JanuuY and the first day of each Jul;· tllereatter, tnnsrer Crom the general ruud or the state trea.sury to sllld "intenst and sinkini ft1nd of the U11h·ers1ty of follfom!a lmildlng b011<ls" suc:b 1111 &l!IOW1t of money liS sb"11 be rt'QU!red to 1>a)· the lnt,·rest inaturln& at the next Interest payment date on the amouut of Aid bonds sold and outstaudlng; aud shall llltewlse. on the fll'llt di, of Janllal)' of the Yell!' 1921, and the llrst 11a, or Janu41')' of eadJ ye,z the:i'ealter in which _any of sold bomb oold u11u out­standln& mature, transfer from the gentr&l fund of the state ltastlr,J to $aid "Interest and sinking tund or the U 11her1I ty uf ClllflX'llia blllldlng bonds" such an amount ot mooey as may be Nqulred to pay the principal of such of said oomls sold ancl ouutandlng ss msture ln sudl year.

Sec. 5. 'file principal and Interest or all or ~Id bondll "hlcb lll&J be sold shall be paid at the time the samt become dtie trcm !lllld "Interest and sinking rwid of tl1e Unlrmit>· ol l'all­fornla bullding bond,," and tile falth or tile State of fnllfornla Ill bllrebs pledlled for tbe payment In full or the prlndp&I nnd lnteren of illlld bonds so sold as the same mature. Bolh prl11-clJ!&I ,nd Interest shall be so pnlt! upon pres,ntatlon to 11", lllate maswer oo or a.fter the d4)' of the maturity or the IJllllle or the hood or coupon s-0 maturing, and tbe state tr~iuurl'I' Is llfftliy authorized and re(J11lred to make sudl payment. Warraui.11 for such paymei1ts shall be duly drmn by the state cc:1troller upun the request of the state treasurer.

Sec. 6. 'There shall be provided In tile geooal appropriation bID to be passed at the next regular session of the lei!lslllture stllllclent money to defray all expe11ses that shall be lneu.'Ted by the shte treasurer In tbe preparation of suld bonci,i Md In the sdvertl.slu& of tbe sale tlttreof &11 1n tbls act provided.

IN. ,. 'l'be lltat,e Mllltlolw 111d tttat.t ..... llfllD -1'1111 IDd particular -t amt fflffll flll all tbf1r Jl'VC8ldlllp andlr this rd, and thty lhaJI lnmlltt t. the ~. ill trtpllcate, an abstmt or all sudJ l)l'Cltfflllno u-.cter, 'IFltb Ill aonual report, In triplicate, UM COJ11 «; od, to be by tbt IIOffl'DOI' la1d befm eadl bOUlle of the lefjslatan, ltl-lllll1IIIJJ, The bools and ;,aver, 1lf!Ulnll11 to tbt matlenl pmtded tor Ill this act sbdl at all times bf opm to the imp«11CIII at _, parties Interested, er of the il1'ffltor. IN att«ne, ceneral. or the lmsl&tln. or of &nJ ctthen or the state.

Sec. 8. 'l'bls aet shall bf !mown and mu be cited u tbe "Unl,m1ty of ('·Jltomla building bood ae1," llld, arter any of the boods hettln Pl'O\'lded for bare bren 5old. lh:ill lie ln:e­pealable w1tll the prlnelpal and Interest or all boom sold sball ban, been paid and dlsch:11·tt«J In full, but the Jefls!ll.l!Jll! ma, amend this act at an)" iime In furtbmanee of its Ptll'POSe, and ma, also rrl)eal this act at 1111 time aft.ff Its adoption, pronded tbat there are at the time no bonds wbldl ban bt'm sold tmn• under 011tstandlni and 11Dpald ID ruJl u to botb principal tllld lntenst.

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