Imperial Valley press., 1922-09-28

crued thereon between the date or SAFE
and the last preceding interest maturity
date; and with the approval or the
governor, he may from time to time'
by public announcement at the place
and time fixed for the sale, continue
such sale, as 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
tured or will mature before the day
fixed for such sale.
Sec. s. 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 publ
cation in one newspaper published I'M
the city of Los Angeles and by publ
cation in one newspaper published in
i the city of Sacramento once 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 the sale of such bonds and such
amount as may have been paid as ao-
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 resolu-
tion of the veterans 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 exelu-
sively to provide useful employment
and the opportunity to acquire farm
homes with profitable livelihood on the
land for veterans and to provide for
cooperation of the state with the agen-
cies Of the United States engaged in
work of similar character, and to fur
uish 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
Ill acts amendatory or supplemental
to said acts, or either of them; provid
ID, that the said veterans welfare
board must pay over to. the general
| fuad of the state from. .thac proceeds of
the sale of the bonds all money which
has been heretofore or may be here
| 1fter appro, rated ard advanced out Of
the general .qr 4 Ill the state treaslry
'or the use of ibe said veterans wei
fare board on condition that it shall
5e so paid over; provided, further
hat the said veterans welfare board
| nay, out of the proceeds from the sal,
| If said bonds, pay all or any part Of
| any indebtedness heretofore by il il
,urred in accordance with law and re
naming unpaid, including the interes
accrued thereon, unless the rate 6 la
terest applying to such indebtedness
is less than the rate of interest ap
olying to the said bonds; and provided
further, that the proceeds from the salt
IF said bonds may be used to pay tn,
lebt created by the issuance and sal,
thereof.
See. 9. The veterans welfare board
shall be and hereby is authorized, will
The approval of the state board of con
.rol, to invest any surplus moneys il
my of the funds subject to or appro
1riated for its use in bonds of the Unit
d States, or of the State Of California
or of the several counties or munici
palties or other political subdivision
If the State Of California, and to sci
,uch bonds, or any of them, at th'
II ya%
If the state board of control.
II Sec. 10. There is hereby created /,
veterans welfare finance committe
l composed of the governor, state con
roller, state treasurer, chairman O.
/ he state board of control, and chair
nan Of the veterans welfare board, al
i Of whom shall serve thereon withou
: / compensation and a majority Of whom
! hall be empowered to act for said com
nittee. The attorney general of tn,
state shall be the legal advisor Of tn,
'eterans' welfare finance committee.
Il Upon request of the veterans wei
fare board, supported by a statemen
\ # the plans and projects of the veter
ms welfare board with respect there
o, which statement shall designate tn,
I pecific fund to which such plans ant
,rojects relate, the veterans welfar,
finance committee shall determin,
whether or not Z bond issue under thi
lct is necessary or desirable to carry
uch plans and projects into execution
Sec. IL. Whenever the said veter
l ms welfare finance committee shal
have determined that bond issue
,nder this act is necessary or desirable
o carry such plans and projects into
l 'xecution, it shall adopt a resolution t.
n his effect. The said resolution shall
authorize and direct the state treasur
err to prepare the requisite number OF
suitable bonds and shall specify:
l !. The aggregate number, aggregate
par value, and the date of issuance Of
l he 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