Imperial Valley press., 1922-09-14

maturity and remaining unsold, by per-
foration with q suitable device in a
manner to indicate such cancellation
and the date thereof. The provisions OF
this section shall be applicable also to
the interest coupons pertaining to the
bonds authorized by this act. to DC
issued, and shall be applicable, as tar
as practicable, to any duly authori~eu
agent of. the state treasurer.
Sec. 5. There is hereby APPROPRIATED
from the general fund in the state
treasury such sum annually as VIII pe
necessary to pay the principal of ana
the interest on the bonds issued ano
sold pursuantlto the provisions OF TINS
act, as said principal and interest pe
comes due and payable. :.
There shall be collected annuaiiy Al
the same manner and at the same tiihe
as other state revenue is collected such
sum. in addition to the ordinary rev,
enues of the state, as shall be requlreu
To nav the principal and interest on
said bonds as herein provided, ana II
is hereby made the duty of all otrleers
charged by law with any duty IN regard
To the collection of said revenue, TO 90
and nerform each and every act when
shall be necessary to collect such addl-
tional sum.
On the several dates of maturity OF
said principal and interest IN eaeh
cal wear. there shall be returned lnto
the general fund in the state treasury,
all of the moneys subject to and aVali-
able for the use of the state land SET
Element board not in excess OF the prlh-
cinal of and interest on the bonds, theE
aue and PAYABLE and, in the event OF
Sucb monevs so returned on said dates
of maturity being less than the sala
nr;nc;nal and interest then due ana
navable. then the balance remaining
unpaid shall be returned into the gen
eral fund in the state treasury as soon
thereafter as it shall become avaliaole'
together with interest thereon, from
such dates of maturity until 80 return
ed. at the rate of five per cent per
annum. compounded semiannually: =,
Both principal and interest OF SAID
bonds shall be paid when due upon
warrants duly drawn by the controller
of the state in favor of the state treas
urer or in favor of any duly authorlzed
aoant of the state treasurer, upon oe.
mands audited by the state board OF
control. and the moneys to be returned
into the general fund in the state treas
urv nursuant to the provisions OF this
section shall likewise be paid as mere
in provided upon warrants duly drawn
bv the controller of the state upon de
mands duly audited by the state ooaru
of control.
Sec. 6. The sum Of ten thousand
dollars is hereby appropriated out OF
anv money in the state treasury po'
otherwise appropriated to pay the eA-
penses that may be incurred py the
state treasurer in having sald ponus
nrepared and advertising the1r saiF'
Said amount shall be refunded to the
general fund of the state treasury OUT
of the land settlement fund IN accoro-
anee with the provisions of this act on
controllers warrant duly drawn TOT
that purpose. .,;oa
tn he issued under this act shall pe
dulv executed, they shall be by the
state treasurer sold at public auction 10
tbe highest bidder for cash, in such
nareels and numbers as the said treas
nrer shall be directed by the governor
of the state. under seal thereof, after
a resolution requesting such sale shai,
have been adopted by the state land
settlement board and approved by the
Governor of the state; but said treas
nrer rrlst reject any and all bids Tor
sold bonds. or for any of them, which
shall be below the par value OF saiu
bonds so offered plus the interest whlch
has accrued thereon between the date
of sale and the last preceding interest
maturity date; and with the approval OF
tho governor, he may from time 10
time, by public announcement at the
place and time fixed for the sale, con-
tinue such sale, as to the whole OF the
tonds offered, or any part thereof Off
cred. to such time and place as he may
select. Before offering any OF sald
bonds for sale the said treasurer shan
detach therefrom all coupons when
have matured or will mature before the
day fixed for such sale.
See. 8. Due notice of the time anu
plaee of sale of all bonds must be given
by said treasurer by publication. IN one
newspaper published in the city anu
county of San Francisco and also by
publication in one newspaper pup
/ llSleQ III inc clby VI -
and by publication in one news,
paper published in the city OF
Los Angeles and by publication IN
| one newspaper published in the
city of Sacramento once week during
| four weeks prior to such sale. In addl.
tion to the notice last above provided
for. the state treasurer may give such
| further notice as he may deem advis'
| able. 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 may have been paid as accrued In
terest thereon shall be forthwith paid
| over by said treasurer into the land
| settlement fund in the state treasury
| and must be used exclusively to provide
| employment and rural homes for sol
| diers, sailors, marines and others who
have served with the armed forces OF
| the United States in the European war
or other wars of the United States, In
| eluding former American citizens who
| served in allied armies against the cen
| tral powers and have been repatriated,
| and who have been honorably discharg-