Imperial Valley press., 1922-10-12

crued thereon between the date of sale
and the last preceding interest maturity
| date; and with the approval of the
governor, he may from time to time,
! by public announcement at the place
and time fixed for the sale, continue
such sale, us to the whole of the bonds
offered, or any part thereof offered,
to such time and place as he may Sc
lect. Before offering any of said bonds
| for sale the said treasurer shall detach
thercfrom all coupons which have ma
tured or will mature before the day
fixed for such sale.
| Sec. 8. Due notice of the time and
| place of sale of all bonds must be given
by said treasurer by publication in one
newspaper published in the city and
county of San Francisco and also by
| publication in one newspaper published
in the city of Oakland and by publi-
cation in one newspaper published in
the city of Los Angeles and by publ
cation in one newspaper published in
/ the city of Sacramento once Il week dur
ing four weeks prior to such sale. In
addition to the notice last above pro-
Vidcd for, the state treasurer may give
such further notice as he mary deem
advisable, but the expense and cost of
such additional notice shall not exceed
the sum of five hundred dollars for
each. sale so advertised The proceeds
of the sale of such bonds and such
amount as may have been paid rs ae-
crucd interest thereon shall be forth
with paid over by said treasurer into
the veterans welfare fund for land
settlement, or into the veterans farm
and home building fund, as the case
may be, in accordance with the rcsolu-
tion of the veterans 9 welfare finance
committee, provided for in section
eleven of this act by virtue of which
resolution the said bonds shall have
been issued, and must be used exclu.
sively to provide useful employment
and the opportunity to acquire farm
homes with profitable livelihood on the
land for veterans and to provide fol
cooperation of the state with the agen
cies of the United States engaged in
work of similar character, and to fur
> nish to veterans the opportunity to pur
chase farms, homes and home sites, in
accordance with the provisions of the
California veterans welfare act and OF
: the veterans farm and home purchase
act, or either of them, and of any and
all acts amendatory OF supplemental
to said acts, or either of them; provid
ed, that the said veterans welfare
hoard must pay over to the genera
fund of the state from. thc proceeds OF
the sale of the bonds all money which
e has been heretofore or may be here
! after appro. rated a=L advanced ont o1
the general t-ud Ill the state treasur ur,
for the use of ib3 said veterans wei
fare board OH condition that it shal
be so paid over; provided, further
chat the said veterans welfare boart
may, out of the proceeds from the sal,
of said bonds, pay all or any part O.
; any indebtedness heretofore by il il
CURED in accordance with law and re
= naming unpaid, including the intercs
+; accrued thereon, unless the rate ot Ia
V terest applying to such indebtedness
. is less than the rate of interest ar
. plying to the said bonds; and provided
"a y further, that the proceeds from the sal
u of said bonds may be used to pay tn
) debt created by the issuance and sal
= thereof.
Sec. 9. The veterans welfare boari
a shall be and hereby is authorized, will
h the approval of the state board of con
troll, to invest any surplus moneys il
7 any of the funds subject to or appro
! priated for its use in bonds of the Unit
: ed States, or of the State of California
or of the several counties or munici
palities or other political subdivision.
of the State of California, ana to sci
+ such bonds, or any of them, at tht
f governing market rates, upon approval
of the state board of control.
q See. 10. There is hereby created 9
- veterans welfare finance committee
, composed of the governor, state con
troller, state treasurer, chairman oil
! the state board of control, ana chair
q man of the veterans welfare board, al
of whom shall serve thereon without
p compensation and n majority of whom
! shall be empowered to act for said com
: mittee. The attorney general Of the
, state shall be the legal advisor of the
! veterans welfare finance committee.
u Upon request of the veterans wei
fare board, supported by statement
, of the plans and projects of the veter
ans welfare board with respect there
to, which statement shall designate the
I NpNN'A'b ANiiA w "hiSh ouSh BAiiIS luu
projects relate, the veterans welfare
finance committee shall determine
whether or not q bond issue under this
act is necessary or desirable to carry
such plans and projects into execution
1 See. II. Whenever the said veter.
ans welfare finance committee shall
have determined that n bond issue
under this act is necessary or desirable
to carry such plans and projects into
execution, it shall adopt resolution to
this effect. The said resolution shall
authorize and direct the state treasur.
er to prepare the requisite number of
suitable bonds and shall specify:
l. The aggregate number, aggregate
par value, and the date of issuance of
the bonds to be issued. !,
2. The date or dates of maturity of
the bonds to be issued and the number
and numerical sequence Of the bonds
maturing at each date Of maturity.
3. The annual rate Of interest
which the bonds to be issued shall bear.
4. The number, numerical sequence,
amount or amounts, and the dates Of
maturity of the interest coupons to be