Imperial Valley press., 1922-10-26
IMPERIAL VALLEY PRESS

the said veterans welfare finance cd m
mittee and specified in such resolution
but in no case exceeding six per cen
per annum. Both principal and interes
shall be payable in gold coin of tn,
United States, of the present standard
of value, at the office of the state
treasurer, or at the office of any duly
authorized agent of the state treasurer
and shall be so payable at the times
| specified in said resolution or resolu
/ tions.
All bonds issued under this act shall
/! bear the signature of the governor and
the facsimile contersignature of the
controller and shall be endorsed by the
| state treasurer either by original sig
| nature or by signature stamp adopted
for each particular bond issued under
| this act, and the said bonds shall be
signed, countersigned and endorsed by
the officers who shall be in office on the
| date OF issuance thereof, and each of
said bonds shall bear an impress of the
great seal Of the State of California.
The said bonds so signed, countersign-
ed, endorsed and sealed, when sold,
shall be and constitute valid and bind
ing obligation upon the State of Cali
fornia, although the sale thereof be
made at a date or dates upon which the
officers having signed, countersigned
and endorsed said bonds, or any or
either of said officers, shall have ceas-
ed to be the incumbents of the offices
held by them at the time Of signing,
countersigning, or endorsing said bonds.
Each bond issued under this act shall
contain a clause or clauses stating that
interest shall cease to accrue thereon
from and after the date Of maturity
therof, and referring to this act and
to the resolut ution of the veterans well
fare finance committee hereunder by
virtue of which said bond is issued.
Sec. 3. The requisite number of
suitable interest coupons, appropriate
ly numbered, shall be attached to each
bond issued under this act. Said inter
est coupons shall bear the facsimile
signature of the state treasurer who
shall be in office on the date of is
suance of the bond to which SAID cOu-
pons pertain.
Sec. 4 All bonds issued under this
act and sold shall be deemed to have
been called i'll at their respective dates
Of maturity and the state treasurer
shall, on the respective dates Of matur-
ity of said bonds, or as soon there
after as said matured bonds are sur
rendered to him, pay the same out of
the proceeds of the controllers war
rants drawn in his favor as provided
in section five hereof and perforate
the bonds so paid with a suitable de,
| 70 nd 10
ment and the date thereof. He shall
also, on the said respective dates of
maturity, cancel all bonds bearing said
dates of maturity and remaining un
sold, by perforation with suitable de
vice in manner to Indicate such can
collation. and the date thereof. The pro
visions of this section shall be applic'
able also to the interest coupons per
| tanning to the bonds authorized by this
act to be issued, and shall be apple
| able, as far as practicable, to any duly
authorized agent of the state treasurer
Sec. 5. There is hereby appropriated
from the general fund in the state
| treasury such sum annually as will be
necessary to pay the principal of and
| the interest on the bonds issued and
sold pursuant to the provisions of this
act, as said principal and interest be
comes due and payable.
| There shall be collected annually in
| the same manner and at the same time
as other state revenue is collected such
sum, in addition to the ordinary rev
enues of the state, as shall be required
to pay the principal and interest on said
bonds as herein provided, and it is
hereby made the duty of all Officers
| charged by law with any duty in re-
| gard to the collection of said revenue
| to do and perform each and every act
which shall be necessary to collect
such additional sum.
| On the several dates of maturity OF
said principal and interest in each fis
| cal year, there shall be returned into
| the general fund in the state treasury
all of the moneys in the specific fund
into which the proceeds from the sale
| of said bonds have been covered as
herein prescribed, not in excess of the
principal of and interest on the said
bonds then due and payable and, in the
event of such moneys so returned OF
said dates of maturity being less thar
the said principal and interest ther
due and payable, then the balance re
naming unpaid shall be returned into
the general fund in the state treasury
out of said specific fund as soon there
| after us it shall become available, to
gether with interest thereon, from sucf
dates Of maturity until so returned, al
the rate of five per cent per annum
compounded semiannually.
Both principal and interest of sale
bonds shall be paid when due upoi
| warrants duly drawn against said ap
preparation from the general fund b,
the controller of the state in favor o.
the state treasurer or in favor of any
J duly authorized agent of the state trea
surer, upon demands audited by th'
state board of control, and the moneys
10 be returned into the general funt
in the state treasury pursuant to th'
provisions of this section shall like
wise be paid as herein provided upoi
warrants duly drawn by the controlle
of the state upon demands duly audit
ed by the state board of control.
/ See. 6. The sum of fifteen THOUSAND
dollars is hereby appropriated out o
any money in the state treasury no