Imperial Valley press., 1922-08-24

offered plus the interest which has ac-
etued thereon between the date of sale
aid the last preceding interest maturity |
date; and with the approval of the
governor, he may from time to tine,
by public announcement at the place !
ahd time fixed for the sale, continue |
such SALE az 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
therefrom all coupons which have ma !
thred or will mature before the day,
fixed for such sale. !,
See. g. 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 4 week dur.
| ing four weeks prior to such sale. In
| addition to the notice last above pro
vided for, the state treasurer may give
| such further notice as he may 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 thc sale Of such bonds and such
| amount as may have been paid az ac.
crued 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-
ton of the veterans welfare finance
committee, provided Cor in section
eleven of this act, by virtue of which
resolution the said bonds shall have
been issued, and must be used cxclu-
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 IL
| work of similar character, and to fur
inish to veterans the opportunity to pur
chase farms, homes and home sites, il
iaccordancc with the provisions of The
sCalifornia veterans welfare act and OF
the veterans farm and home purchase
act, or either of them, and of any an(
all acts amendatory or supplemental
/ to said acts, or either Of them; provid
I'D, that the sAid veterans welfare
board must pay over to the genera
fald of the state from the proceeds o.
the sale Of the bonds all money whicl
\ has been heretofore or may be here
\ after approt RATED a:L advanced out O.
\ the general fqrd III the state treaslr,
\ For the use Of tbe said veterans wei
\ fare board on condition that it shal
bs SO paid over; provided, further
that the said veterans welfare boar,
\ may, out of the proceeds from the "a
IF said bonds, pay all or any part @
\ any indebtedness heretofore by II II
cured in accordance with law and rs
naming unpaid, including the interes
\ tccrued thereon, unless the rate OF il
\ crest applying to such indebtedness
$ less than the rate of interest ~
dying to the said bonds; and provided
\ further, that the proceeds from the sal
IF said bonds may be used to pay tn
Iebt created by the issuance ana sal
1 thereof
See. 9. The veterans welfare boart
\ shall be and hereby is authorized, witt
4 the approval of the state board of con
| troll, to invest any surplus moneys il
\ my of the funds subject to or appro
oriated for its use in bonds of the Unit
4 ed States, or of the State of California
)r of the several counties or munici
oalities or other political subdivision
! If the State of California, and to sci
! such bonds, or any of them, at tn
governing market rates, upon approva
of the state board of control.
See. 10. There is hereby created
veterans welfare finance committe
composed Of the governor, state con
troller, state treasurer, chairman o
the state board of control, and chair
nan of the veterans welfare board, al
# whom shall serve thereon withou
compensation and q majority of whom
hall be empowered to act for said com
nittee. The attorney general Of th
state shall be the legal advisor of tn,
veterans welfare finance committee.
Upon request of the veterans wei
fare board, supported by n statemep
of the plans and projects of the veter
ans welfare board with respect there
to, which statement shall designate tn,
specific fund to which such plans ant
projects relate, the veterans. welfare
finance committee shall determin,
| whether or not bond issue under thi!
act is necessary or desirable to carry
such plans and projects into execution
See. II. Whenever the said veter
ans welfare finance committee shall
have determined that q bond issue
under this act is necessary or desirable
to carry such plans and projects into
execution, it shall adopt a resolution tc
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.
9. 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.
8. The annual rate of interest
\ which the bonds to be issued shall bear.
4. The number, numerical sequence,