Imperial Valley press., 1922-08-31

but in 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, at 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 this times
| specified in said resolution or Tesolu-
| tions.
All bonds issued under this act shall
bear the signature of the governor and
| the facsimile contersignature st 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, countersigned 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, countersign-
ed, endorsed and sealed, when sold,
shall be and constitute valid and bind
ing obligation upon the State of Cali
forna, although the sale thereof be
made at a 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 ae the tame of signing
countersigning, or endorsing said bonds.
Each bond issued under this act shall
contain cfause or clauses sseting that
interest shall cease % accrue thereon
from and after the date of maturity
therof, and referring to this act and
to the resolution of the veterans wei
fare finance committee hereunder by
virtue of which said bond is issued.
Sec. 3. 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 sa44 Du-
pons pertain.
Sec d All bonds issued under this
act and sold shall be deemed to have
, been called in at their respective dates
f 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 sre sur
+ rendered to him, pay the same out OF
the proceeds of the controllers war
rants drawn in his favor as provided
in section five hereof and perforatC
the bonds so paid with a suitable de
vice in manner to indicate such pay
ment and ahe date thereof. He shal
also, on the said respective dates o,
maturity, cancel all bonds bearing sale
- dates of maturity and remaining un
= sold, by perforation with a suitable de
! 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 dul
authorized agent of the state treasurer
Sec. 5. There is hereby appropriate
e from the general fund in the stat
= treasury such sum annually as will b
- necessary to pay the principal of an
; the interest on the bonds issued an
g sold pursuant to the provisions of thi
a. act, as said PRINCIPAL szld interest be
a comes due and payable.
; There shall be collected annually i
n IHt SdHlG lldHHCI anu ttb IllC otiiliC YIN
, as other state revenue is collected sucl
:, sum, in addition to the ordinary rev
q enues of the state, as shall be required
,. to pay the principal and interest on salt
a bonds as herein provided, and it j
=, hereby made the duty of all officer
f charged by law with any duty in re
p gard to the collection of said revenue
!. to do and perform each and every ac
" which shall be necessary to collec
4 such additional sum.
,. On the several dates of maturity o
,r said principal and interest in each fis
:. cal year, there shall be returned int
,. the general fund in the state treasury
f all of the moneys in the specific funt
i into which the proceeds from the sal
n of said bonds have been covered a
a herein prescribed, not in excess of th
q principal of and interest on the sai(
J. bonds then due and payable and, in th'
l. event of such moneys so returned OF
4 said dates of maturity being less thar
O the said principal and interest thel
q due and payable, then the balance re
!. naming unpaid shall be returned int
: the general fund in the state treasury
p out of said specific fund as soon there
f after as it shall become available, to
q gether with interest thereon, from sucl
dates of maturity until so returned, al
the rate of five per cent per annum
n compounded semiannually.
Both principal and interest of sai6
: bonds shall be paid when due upor
s warrants duly drawn against said ap
= preparation from the general fund by
G the controller of the state in favor OF
T. the state treasurer or in favor of any
@ duly authorized agent. of the state trea
! surer, upon demands audited by the
@ state board of control, and the moneys
4 TO be returned into the general fund
e in the state treasury pursuant to the
. provisions of this section shall like
j. wise be paid as herein provided upon
: warrants duly drawn by the controller
G of the state upon demands duly audit
| ed by the state board of control.
. Sec..6. The sum of fifteen thousand
= dollars is hereby appropriated out of
I any money in the state treasury not
$ otherwise appropriated to pay the ex-
! penses that may be incurred by the