Imperial Valley press., 1922-10-12

but i'll no case exceeding six per cent
per annum. Both principal and interest
shall be payable in gold coin of the
United States, of the present standard
| of value, ut 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 rcsou-
tions.
All bonds issued under this act shall
! bear the signature Of the governor and
the facsimile contcrsignaturc 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, countersigncd 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, countersgn-
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 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 clause or clauses stating that
interest shall cease to accrue thereon
from and after the date of maturity
therof, and referring 20 this act and
to the resolution of the veterans wei
fare finance committee hereunder by
virtue of which sold bond is issued. Z
3, Sec. 8. 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 sad cou-
pons pertain.
See. 4 All bonds issued under this
act and sold shall be deemed to have
, been called III 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 s war
: rants drawn in his favor as provided
! in section five hereof and pcrforatC
the bonds so paid with q suitable dc
vice in manner to Indicate such pay
ment and the date thereof. lie shal
also, on the said respective dates OF
maturity, cancel all bonds bearing said
G dates of maturity and remaining un
sold, by pcrforation with a suitable dc
! vice in manner to Indicate such can
collation. and the date thereof. The pro
visions of this section shall be apple
, able also to the interest coupons per
tanning to the bonds authorized by thi.
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 appropriate'
f from the general fund in the stat
treasury such sum annually as will b.
e necessary to pay the principal of ant
. the interest on the bonds issued anC
sold pursuant to the provisions of thi'
. act as said principal and interest be
@ comes due and payable.
+ There shall be collected annually il
q the same manner and at the same time
as other state revenue is collected sucl
q sum, in addition to the ordinary rev
@ enues of the state, as shall be required
to pay the principal and interest on said
e bonds as herein provided, and it is
q hereby made the duty of all Officers
f charged by law with any duty in re-
. gard to the collection of said revenue
to do and perform each and every act
r which shall be necessary to collect
I 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 i'll 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 or
said dates of maturity being less than
, the said principal and interest ~ther
due and payable then the balance re-
manning unpaid shall be returned into
the general fund in the state treasury
out of said specific fund as soon there
; after as it shall become available, to
StlHtl VIII IHltLtSG tilcItOii, 1IOit SuCu
dates of maturity until so returned, 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 against said ap-
preparation from the general fund by
the controller of the state in favor of
the state treasurer or in favor of any
J duly authorized agent of the state trea-
surer, upon demands audited by the
state board of control, and the moneys
TO be returned into the general fund
i'll the state treasury pursuant to the
| provisions of this section shall like
wise be paid as herein provided upon
warrants duly drawn by the controller
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 of
any money in the state treasury not
otherwise appropriated to pay the ex-
penses that may be incurred by the
state treasurer in having said bonds
prepared and in advertising their sale