Imperial Valley press., 1922-10-19
Thursday, October 19, 1922


surate, as 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 the
date of issuance thereof. provided.
further, that specified numbers of
ponds OF specified numerical sequence
shall thereafter mature at annual in.
tervals; and provided, further, that the
| ponds last to mature in each issue shall
mature not later than forty five years
| from the date of issuance thereof.
The rate of interest to be bornS Nv
the said bonds shall be uniform for ;a
the bonds of the same issue and shall
be determined and fixed by tho vet
Grams welfare finance committee ac-
eording to the then prevailing market
conditions, but shall in no case exceed
SIX per cent per annum, and tho dc.
| termination of said committee as to the
rate of interest shall be conclusive as
TO the then prevailing market condi.
tions. The interest coupons to be mt.
tached to the said bonsls shall be paw.
able at semiannual intervals from the
date OF issuance Of said bonds; provid-
cd, that the interest coupon first paw
able may, if the veterans welfare I'll.
nance committee shall so determine and
specify, be payable one year. after the
date of issuance of said bonds.
See. IL All actual and necessary
expenses of the veterans welfare ri.
nance committee and of the members
thereof shall be paid out of the fund
into which the proceeds from the sails
of said bonds shall be covered, upon an
proval of the state board Of contrib
and on controller s warrant duly drawn
for that purpose, and shall constitute
expenses of the veterans welfare
board.
i Sec. 13. The state controller. the
state treasurer, and the veterans wei.
rare finance committee shall keep fnlI
ana 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
thereunder, with an annual report. 70
oe ny the governor laid before the lecis.
iatnre biennially; and all books and m.
ners pertaining to the matter provided
Tor IN this act shall at all times he
open to the inspection Of any party in.
tercsted, or the governor, or the attor.
ncy general. or n committee Of either
branch OF the legislature, or Joint
committee Of both, or any citizen Of
the state.
See. IA. This act, IL adopted by the
people, shall take effect on tho f;f.
teenth day Of November. 1922, as to
all its provisions except those relating
to and necessary fDr its submission Co
The peoplc. and for returning, canvass.
ing, and proclaiming the votes. and n,
to said excepted provisions this net
:, shall take effect immediately.
Sec Is. This act shall be submittea
to the people Of the State Of California
for their ratification ut the next gen.
erai election, to be held in the month
, or November, 1929. and all ballots at
sald election shall have printed there.
on and IN . square thereof, the words:
For the veterans welfare bond act
of 1921, and in the same square under
, 'aid words the following in BREWER
type: "This act provides for = bond
issue or ten million dollars to be used
ay the veterans welfare board in as-
sisting California war veterans to ac.
quire farms or homes" In the square
Immediately below the square contain.
ing snch words, there shall be printed
on said ballot the words: against the
veterans welfare bond act OF 1921. -
and in the same square Immediately be.
/, low said words Against the vcterans'
welfare bond act Of 1921" in BREWER
type shall be printed "This act pro-
vides for bond issue Of ten million
dollars to BIO used by the veterans wei.
fare board in assisting California war
veterans to acquire farms or homes.'
4 Opposite the words "For the yeter.
e ans welfare bond act Of 1872 and
: Against the veterans welfare bond
T act Of 1921" there shall be left spaces
= in which the voters may place cross
in the manner required by law TO indi
chte whether they vote for or against
said act, and those voting for said act
shall do so by placing cross opposite
g the words 'For the veterans welfare
3 bond act of 1927 and those voting
against the said act shall do so by
placing cross opposite the words
Against the veterans welfare bond
act of 1871 The governor Of this
state shall include the submission of
this act to the people, as aforesaid, il
his proclamation calling for said gen.
. eral election.
g Sec. 1G. The votes cast for or
= against this act shall be counted, re-
turned and canvassed and declared in
+. the same manner and subject TO the
same rules as votes cast for state Of.
! ficers; and if it appear that said not
. shall have received majority OF all
. the votes cast for and against it at said
} election as aforesaid, then the same
, shall have effect as hercinbefore pro-
vided, and shall be irrepealable until
the principal and interest of tho liza.
bilities herein created shall be paid and
discharged, and the governor shall
! make proclamation thereof; but IL n
majority Of the votes cast as aforesaid
are against this act then the same
shall be and become void.
: Sec. II. It shall be the duty of the
, secretary of state in accordance with
law to have this act published in mt
least one newspaper in each county, or
city and county, II one be published
therein, throughout this state, for
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