People v. Marblehead Land Co.

— The plaintiff and respondent instituted this proceeding in eminent domain for the purpose of acquiring certain lands in the county of Ventura, alleged in its complaint as being necessary to the completion of a system of state highways contemplated by legislative acts of 1909 and 1915, and by section 2, article XVI, of the constitution of the state of California, adopted July 1, 1919.

The constitutional provision last mentioned directed the preparation of forty thousand suitable state bonds in the denomination of one thousand dollars each, bearing interest at the rate of four and one-half per cent per annum, payable semi-annually, and that they be signed, sold, and paid as provided in said act of 1915; and created funds therein designated as the “third state” highway, interest, revolving, and sinking funds. It was also provided, in part, that: “The moneys of said ‘third state highway fund’ shall be used by the state department of engineering for the acquisition of rights of way for and the acquisition, construction and improvement of uncomplete portions of the system of state highways prescribed by the act of the legislature approved May 22, 1909, known as the ‘state highways…