Imperial Valley press., 1922-09-28

maturity ana remaining uhSoiu, ps Poi
foration with suitable device in
manner to indicate such cancellation
and the date thereof. The provisions OF
this section shall be applicable also to
the interest coupons pertaining to the
bonds authorized by this act to be
issued, and shall be applicable, as far
as practicable, to any duly authorized
agent of the state treasurer. .,
Sec. 5. There is hereby appropriated
from the general fund in the state
treasury snch sum annually as will pc
necessary to pay the principal OF ana
the interest on the bonds issued anu
sold pursuant to the provisions OF TINS
act. as said principal and interest De-
comes due and payable. -, =
There shall be collected annually IN
the same manner and at the same tin,e
as other state revenue is collected such
a sum, in addition to the ordinary rev,
ennes of the state, as shall be required
To nav the principal and interest on
said bonds as herein provided, and IL
| is hereby made the duty OF all officers
charged bv law with any duty in regard
TO the collection Of said revenue, to 40
and perform each and every act wnien
shall be necessary to collect such auui'
tional sum. 80
On the several dates of maturity OF
said principal and interest IN eaen us
cal wear, there shall be returned lhto
the general fund in the state treasury
all of the moneys subject to and avali-
able for the use of the state lana sel-
| Element board not in excess OF the prln-
| cinal of and interest on the bonds, tnen
due and payable and, in the event OF
| sucb moneys so returned on SAID dates
| of maturity being less than the salu
| nr;ncipal and interest then due ana
navahie. then the balance remaining
nnnaid shall be returned into the gen
| eral fund in the state treasury as soon
| thereafter as it shall become avaliapie'
tocether with interest thereon, from
such dates of maturity until 50 return
ed. 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 by the controller
/ of the state in favor of the state treas.
urer or in favor of any duly authorized
agent of the state treasurer, upon oc,
mands audited by the state poaru ., ,
control, and the moneys to De returheo
into the general fund in the state treas
ury pursuant to the provisions OF TINS
section shall likewise be paid as here
| in proyided upon warrants duly drawn
nv the controller of the state upon de.
mands duly audited by the state board
of control.
Sec. 6. The sum of ten thousand
| dollars is hereby appropriated out OF
anv 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 advertising thar sale
Said amount. shall be refunded to the
| general fund Of the state treasury OUT
| of the land settlement fund III accord
ance with the provisions Of this act on
| controller IS warrant duly drawn fol
that purpose.
to be issued under this act shall DC
duly executed, they shall be by tne
state treasurer sold at public auction To
the highest bidder for cash, IN sucn
parcels and numbers as the said treas
urer shall be directed by the governor
of the state, under seal thereof, after
a resolution requesting such sale shall
have been adopted by the state land
settlement board and approved by the
I governor of the state; but said treas
urer nAlst reject any and all bids FOL
| said bonds, or for any Of them, which
shall be below the par value of said
bonds so offered plus the interest which
has accrued thereon between the date
of sale and the last preceding interest
maturity date; and with the approval OF
the governor, he may from time te
time, by public announcement at the
| place and time fixed for the sale, con
tinue such sale, as to the whole OF the
bonds offered, or any part thereof off
cred, to such time and place as he may
select. Before offering any Of said
bonds for sale the said treasurer shall
detach therefrom all coupons which
have matured or will mature before the
day fixed for such sale.
See, 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 pub
iished in the city of Oakland
and by publication in one news
paper published in the city OF
Los Angeles and by publication il
one newspaper published in th'
city of Sacramento once week during
four weeks prior to such sale. In add
tion to the notice last above provided
for, the state treasurer may give suci
further notice as he may deem advis
able, but the expense and cost of sucf
additional notice shall not exceed thu
sum of five hundred dollars for eacf
sale so advertised. The proceeds Of thu
sale of such bonds and such amount
as may have been paid as accrued in
terest thereon shall be forthwith pait
over by said treasurer into the lant
settlement fund in the state treasury
and must be used exclusively to provide
employment and rural homes for sol
diers, sailors, marines and others wht
have served with the armed forces o.
the United States in the European wa
or other wars of the United States, in
GLIDING former American citizens WHIT
served in allied armies against the cen
trail powers and have been repatriated
and who have been honorably discharg
ed, to promote closer agricultural set
| tlap,ant 70 ocoicf daeoryiu0 and mali