Imperial Valley press., 1922-09-14
Thursday, September IA, 1922

0I1efeQ Plus the interest WHICH mas dc-
crued thereon between the date of sale
and the last preceding interest maturity
date; and with the approval of the
governor, he may from time to time.
by public announcement at the place
and 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 Sc
lect. Before offering any of said bonds
for sale the said treasurer shall detach
therefrom all coupons which have ma
tured or will mature before the day
fixed for such sale.
See. 8. Due notice of the time and
place of sale of all bonds must be given
by said treasurer by publication in one
newspaper published in the city ana
county of San Francisco and also by
publication in one newspaper published
in the city of Oakland and by publ.
cation in one newspaper published in
the city of Los Angeles and by publ
cation III one newspaper published in
the city of Sacramento once week dur
ing four weeks prior to such sale. In
addition to the notice last above pro
vided for, the state treasurer may give
such further notice MS he may deem
advisable, but the expense and cost Of
such additional notice shall not exceed
the sum of five hundred dollars for
each sale so advertised. The proceeds
of the sale of such bonds and such
amount as NAV have been paid as ac
crued interest thereon shall be forth
with paid over by said treasurer into
the veterans welfare fund for land
settlement, or into the veterans farm
and home building fund, as the ease
may be. in accordance with the resolu-
tion q the veterans welfare finance
committee, provided for in section
eleven of this act, by virtue of which
resolution the said bonds shall have
been issued, and must be used exclu-
Sivelv to provide useful employment
and the opportunity to acquire farm
homes with profitable livelihood on the
| land for veterans and to provide for
cooperation of the state with the agen-
cies of the United States engaged in
work of similar character, and to fur
nish to veterans the opportunity to pur-
chase farms. homes and home sites, in
accordance with the provisions of the
California veterans welfare act and of
he veterans farm and home purchase
act, or either of them, and of any and
al acts amendatory or supplemental
| to said acts, or either of them; provid-
ID. that the said veterans welfare
board must pay over to the general
fuld of the state from. 10 proceeds of
the sale Of the bonds all money which
| has been heretofore or may be here
fter approl rated arl advanced out Of
tie general fri III the state treas lrT
! FOR the use of ibe said veterans well
| fare board on condition that it shall
be so paid over; provided, further
| hat the said veterans welfare board
| nay, out of the proceeds from the sale
| If said bonds, pay all or any part OF
| any Indebtedness heretofore by j. ir
| ;urred in accordance with law and re
naming unpaid, including the interest
| accrued thereon, unless the rate of IN
terest applying to such Indebtedness;
| s less than the rate of interest ap
| olying to the said bonds; and provided
| further, that the proceeds from the sale
| If said bonds may be used to pay tbs
| lebt created by the issuance and sale
| thereof.
| See. g. The veterans welfare board
| 'hall be and hereby is authorized, with
| the approval of the state board of con
| 'rol, to invest any surplus moneys il
any of the funds subject to or appro
oriated for its use in bonds of the Unit
ID States, or of the State of California
or of the several counties or munici
| palities or other political subdivisions
| IF the State of California, and to sci
,uch bonds, or any of them, at thu
| governing market rates, upon approva
IF the state board of control.
Sec. 10. There is hereby created {
veterans welfare finance committed
1 composed of the governor, state con
troller, state treasurer, chairman o1
he state board of control, and chair
nan of the veterans welfare board, al
IF whom shall serve thereon without
compensation and n majority of whom
/ shall be empowered to act for said com
mittee. The attorney general of thu
state shall be the legal advisor Of the
veterans welfare finance committee.
Upon request of the veterans wei
fare board, supported by statement
Of the plans and projects of the veter
ans welfare board with respect there
70, which statement shall designate the
specific fund to which such plans ant
projects relate, the veterans welfare
/ finance committee shall determine
I whether or not n bond issue under this
act is necessary or desirable to carry
such plans and projects into execution
Sec. II. Whenever the said veter
ans welfare finance committee shall
! have determined that a bond issue
] 1nder this act is necessary or desirable
to carry such plans and projects into
execution, it shall adopt a resolution tC
This effect. The said resolution shall
/ authorize and direct the state treasur
er to prepare the requisite number OF
| suitable bonds and shall specify:
J.. The aggregate number, aggregate
par value, and the date of issuance OF
l The bonds to be issued.
2. The date or dates of maturity of
1 The bonds to be issued and the number
| and numerical sequence of the bonds
maturing at each date of maturity.
3. The annual rate of interest
which the bonds to be issued shall bear
a. The number. numerical sequence