Imperial Valley press., 1922-08-31

California Tor Jhelr ldtiliS''V
the next general election, TO ps
holden ON the seventh day oi
November, A. d. 1922. e.4o
Frank c. Jordan, Secretary Oh o'a'''
cbauter 1888, Statutes OF l9Zl
A., oct 10 authorize the creation VI
aaht or debts. liability or labilitles'
.,.a,,oh the issuance and sale OF sta'e
Sanas for the single object OF cfealints
e,na To carry out the provisions VI
-. INA settlement act, approved Jun"
! 1o17 and of any and all acts ahienu ,ao.
atorv therof or supplemental lne,oS e;,,o
80 nrovide WAYS and means, eAciusise
rs loans. for the payment OF the nv
os+ of such debt or debts, nanny
,.oh;1;t;os as such interest falls aus'
Ia also for the payment and dlscnaise
- tbs principal of such DEBT OF oep.,,
,;ah;i+y or liabilities, as suol
principal natures; 70 s;na,,ao com.
state land settlement ne which
;.,oa the members OF VIM
.ro to serve without com oi5
define the powers and duties ~ ;ttoe
stota land settlement finance eoiiiiiie i.i, 80
and of other state officers IN feia.ioh e 4t, ~
his act; to appropriate money ios tn1
exnense of preparing ana Oh "'' ,thnr ~
no the sale of the bonds herein au''e-
;yed TO be issued; and TO pfoNluI
tbe submission of this act TO VOC ~
,he neople at the general election 70 ~, "
holden in the month of NoVehipei'
1922.
fAnnroved June 3, l92l'l
Tho peopie of the State OF Caiii'i''i"
do enact as follows:
eootion |. For the purpose OF Gre
oting n fund to carry out the pFoNls
:''e :nns of tbe land settlement act, ap,,
,nayod Jnne l, 1917, and OF any ana
IN aots amendatory thereof or supPie'
1nortal thereto, the object Of when acts
- 20 nroyide employment and rura,
to,,aos FOR soldiers, sailors, marines anu
otbers who have served with the az
soreas Of the United States III nv
E.ronean war or other wars Oh Vno
limited States, including former M M
-, oitiyans who served Ill ailleu
sr,,,;os AGAINST the central powers anu
h.,a boen repatriated, and who nave
hcen bonorably discharged, to promote
aIosar agricultural settlement, to assist
5osorving and qualified persons 10
oconire small improved tarms' u ~
cnstrate the value of adequate eaP.'ai
aud organized direction IN supoi1 iuI,
,nd preparing agricultural hho % rol
settlement, and to provide MONIES
farm laborers, the state land set.iei'ei.
finance committee created by TINS aI' ;
60 ,yit in section ten hereof, shan DC
and u hereby is authorized and empoW-
arod IN create debt or debts, llablllty
or liabilities. of the State of California
in the manner and TO the extent mere.
matter provided, but not other"ise'
nor in excess thereof. a,
Sec. Q. After the issuance OF the
nroclomation of the governor proNlueul
sor in section sixteen of this act, ana
;o,roed;otely after adoption of any res
oIution bv the state land settlement
s;nopce committee hereby created, pro
,,;dod for in section eleven in TINS act'
,ho etote treasurer shall prepare the
roouisite number of suitable ponds ul
tho denomination of one thousand doi-
lars in accordance with the speclflea-
tions contained in such resolution. Inc
,gorepate par value of all bonds ISSUED
r9der this act shall not exceed the
erm of three million dollars, and the
bonds issued under any such resolution
shall bear interest from the date OIL IS,
suance of said bonds to the date Oh
maturity thereof, at rate TO De deler
mined by the said state land settlement
finance committee and spechled III
such resolution, but in no case exceed
ing six per cent per annum. both prin'
oinaI and interest shall be payable III
cola coin of the United States, OF the
nresent standard of value, Mt the ottlce
of the state treasurer, or at the oftlee
of anv duly authorized agent OF the
state treasurer, and shall be so payap'e
the times specified in SAID resolu-
tion or resolutions. ;,
All honds issued under this act shan
bear the signature of the governor an"
the facsimile eountersignature or the
controller and shall be endorsed Dy
tho state treasurer either by original
SIGNATURE or by signature stamp adopt
oil for each particular bond issue under
tbis act. and the said bonds shall be
sipned. conntersigned and endorsed by
the officers who shall be III offlce on
the date of issuance thereon, ana eac,l
of said bonds shall bear an impress OF
the great seal or IHt pldbC VI N''''
mia. The said bonds so signed, counter
signed. endorsed and sealed, when sold
shall be and constitute vahd ana
binding obligation upon the state OF
California, although the sale thereof be
made at date or dates upon which
the Officers having signed, counter
signed and endorsed said bonds, or any
or either of said officers, shall have
ceased 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 clause or clauses
stating that interest shall cease to ac-
crue thereon from and after the date
of maturity thereof, and referring 10
this act and to the resolution OF the
state land settlement finance board
hereunder by virtue of which said bond
is issued.
See. 3. The requisite number of SUIT
able interest coupons, appropriately
numbered, shall be attached to each
bond issued under this act Said IN