Imperial Valley press., 1922-08-24
PAGE THREE

neatly as practicable, aud be commen.
surate, az nearly as practicable, with
the dates and amounts OF such estimat
ed revenues; provided, that the bonds
first to mature in each issue. shall ma.
ture not later than five years from tbe
date of issuance thereof: provided
further, that specified numbers Of
bonds Of specified numerical sequence
shall thereafter mature at annual in.
tervals; and provided, further, that the
bonds last to mature in each issue shall
mature not later than f0rtv-five years
from the date Of issuance thereof.
The rate Of interest to be borne bv
i the said bonds shall be uniform for all
the bonds of the same issue and shall
be determined and fixed BY the vet.
erans' welfare finance committee ne.
cording to the then prevailing market
conditions, but shall in no ease exceed
six per cent per annum, and the de
| termination Of said committee az to the
! rate Of interest shall be conclusive as
| to the then prevailing market condi-
! ti0ns. The interest coupons to be at
| tached TO the said horls shall be paw
! able at semiannual intervals from the
| late Of Issuance Of said bonds; prOvid
ed, that the interest coupon first paw
able may, if the veterans welfare ii.
| nance committee shall so determine and
/ specify. be payable one year after the
date Of issuance Of said bonds
See. 12, All actual and necessary
expenses Of the veterans welfare fl.
nance committee and Of the members
4 thereof shall be paid out Of the fund
into which the proceeds from the sale
of said bonds shall be covered, upon af>-
proval of the state board Of control
and on controllers warrant duly drawn
, for that purpose, and shall constitute
expenses OF the veterans welfare
board.
See. 13. The state controller, the
state treasurer, and the veterans wei
fare finance committee shall keep full
and particular account and record Of
? all their proceedings under this act,
+ and they shall transmit to the COVER.
: nor an abstract of all such proceedings
n Hereunder, with an annual report, TO
= be blythe governor laid before the legis-
= lature biennially; and all books and pa-
pers pertaining to the matter provided
G for in this act shall at all times be
open to the inspection of any party in
e terested, or the governor, or the attor-
d ney general, or q committee of either
Il branch of the legislature, or a Joint
committee of both, or any citizen of
e the state.
i Sec. ID. This act, If adopted bv the
+ people, shall take effect on the fif-
h teenth day of November. 1922, as to
= all its provisions except those relating
+ to and necessary for its submission to
' the people, and for returning, canvass
/ ing, and proclaiming the votes. and as
II 70 said excepted provisions this act
r, shall take effect Immediately.
d Sec. rs. This act shall be submitted
? 70 the people of the State of California
# for their ratification at the next gen
oral election, to be held in the month
. of November, 1929, and all ballots at
81 said election shall have printed there.
Il on and in q qpusre thereof, the words:
50 For the veterans welfare bond act
P "f 1921, - and in the same square Under
Il said words the following in BREWER
e tvpe: "This act provides for bond
e issue of fsten million dollars to be used
e w the veterans welfare board in as
sisting California war veterans to ae-
d nuire farms or homes" In the square
h immediately below the square contain
l. ing such words. there shall be printed
n on said ballot the words: against the
}, veterans welfare bond act of 1921, -
t. and in the same square immediately be-
1, low said words "Against the veterans
l. welfare bond act of 1921 - in BREWER
IS tvpe shall be printed "This act pro-
II vides for a bond issue of ten million
e dollars to be used bv the veterans well
Il fare board in assisting California war
veterans to acquire farms or homes -
a Opposite the words "For the veter-
e ans welfare bond act of 1927 and
l. "Against the veterans welfare bond
f act of 1921, there shall be left spaces
?. in which the voters NAV place cross
Il in the manner required by law to iudi-
It cate whether thev vote for or against
n said act, and those voting for said act
l. shall do so by placing cross opposite
e the words "For the veterans welfare
G bond act of 1921" and those voting
against the said act shall do so by
l. placing a cross opposite the words
t against the veterans welfare bond
: act of 1921 - The governor of this
= state shall include the submission of
c this act TO the people. as aforesaid. in
his proclamation calling for said gen.
e eral election.
e See. 10. The votes east for or
s against this act shall be counted re-
Y turned and canvassed and declared in
!. the same manner and subject to the
. same rules as votes cast for state Of
I ficers; and if it appear that said act
e shall have received a majority of all
the votes cast for and against it at said
0 election as aforesaid, then the same
0 shall have effect as hereinbefore pro-
J vided. and shall be irrepealable until
the principal and interest of the lia-
{ bilities herein created shall be paid and
discharged, and the governor shall
, make proclamation thereof; but if a
{ majority of the votes cast as aforesaid
are against this act then the same
{ shall be and become void.
Sec. II. 1t shall be the duty of the
secretary of state in accordance with
law to have this act published in at
! least one newspaper in each county, or
city and county, if one be published
therein, throughout this state, for