Imperial Valley press., 1922-08-17
PAGE THREE

| nearly as pract1cabIe, and be common
surate, as nearly as practicable. with
the dates and amounts of such estimat.
ed revenues; provided, that the bonds
first to mature in each issue, shall ma.
ture not later than five years from the
date of issuance thereof; provided
further, that specified numbers Of
bonds of specified numerical seonence
shall thereafter mature at annual in
| tervals; and provided, further. that the
| bonds last to mature in each issue shah
| mature not later than forty-fi wears
| from the date of issuance thereof.
The rate of interest to be borne bv
the said bonds shall be uniform for All
the bonds of the same issue and shall
be determined and fixed bv the vet.
| Grams welfare finance committee ac.
cording to the then prevailing market
conditions, but shall in no case exceed
six per cent per annum, and the de-
termination of said committee as to the
rate of interest shall be conclusive as
to the then prevailing market condi-
tions. The interest coupons to be at
sached to the said bor'ls shall be paw
ible at semiannual intervals from the
; date of issuance of said bonds: provid-
J ed, that the interest coupon first paw
able may, if the veterans welfare fl
nance committee shall so determine and
= specify, be payable one year after the
s. dste of issuance of said bonds.
II Sea II All actual and necessary
expenses - the veterans welfare fl.
nance committee and of the members
thereof shall be paid out of the fund
into which the proceeds from the sa1e
of said bonds shall be covered, upon -
e proval of the state board of control
: and on controller s warrant duly drawn
for that purpose, and shall constitute
n expenses of the veterans welfare
b board.
Sec. 13. The state controller, tia
+ state treasurer, and the veterans vel
/ fare finance committee shall keep full
u and particular account and record of
e all their proceedings under this act,
T and they sAsu transmit to the COVER
/ nor an abstract of all such proceedings
u hereunder, with an annual report, to
: be by the governor laid before the legis-
: lature biennially; and all books and pa
Il per5 pertaining to the matter provided
c for in this act shall at all times be
I open to the inspection of any party in
e terested, or the governor, or the attor-
a nev general, or a committee of either
u branch of the Legislature, or q joint
committee of both, or any citizen of
e the state.
II Sec. "A. This act, if adopted by the
Il people, shall take effect on the fif-
II teenth day of November, 1922, as to
,. all its provisions except those relating
Il to and necessary for its submission to
' the people, and for returning, canvass
!, ing, and proclaiming the votes, and az
IL to said excepted provisions this act
+, shall take effect Immediately.
ID See. 10. This act shall be submitted
p 70 TIE people of the State of California
81 for their ratification at the next gen
r. eral election, to be held in the month
g of November, 1922, and all ballots at
sp said election shall have printed there
IL on and in q square thereof, the words:
5S 'For the Veterans welfare bond act
P Of 1921, - and in the same square under
~ said words the following in BREWER
'e type: "This act provides for hon,l
,e issue of ten million dollars to be used
ie by the veterans welfare board in as
sisting California war veterans to ac-
d quire farms or homes.' In the square
h Immediately below the square contain
n ing such words, there shall be printed
in on said ballot the words: "Against the
o. veterans welfare bond act of 1921, -
t. and in the same square Immediately be-
a, low said words "Against the veterans
l. welfare bond act of 1922 in BREWER
IS type shall be printed "This act pro-
III vides for a bond issue of ten million
lel dollars to be used by the veterans well
al fare board in assisting California war
veterans to acquire farms or homes. !"
a Opposite the words "For the veter-
,e ans welfare bond act of 1927 and
n " Against the veterans welfare bond
IF act of 1921, " there shall be left spaces
T. in which the voters may place a cross
II in the manner required by law to indi-
1T cate whether they vote for or against
m said act, and those voting for said act
n shall do so by placing a cross opposite
le the words "For the veterans welfare
le bond act of 1921" and those voting
against the said act shall do so by
j. placing cross opposite the words
Mt against the veterans welfare bond
r. act of 1921 The governor of this
e. state shall include the submission of
le this act to the people, as aforesaid, in
I'd his proclamation calling for said gen.
re eral election.
ne See. 16. The votes east for or
is against this act shall be counted, re-
~ turned and canvassed and declared in
n. the same manner and subject " to the
r, same rules rs votes east for state of
IL ficers; and if it appear that said act
10 shall have received a majority of all
le the votes cast for and against it at said
10 election as aforesaid, then the same
10 shall have effect as hereinbefore pro-
II vided, and shall be irrepealable until
r the principal and interest of the LA
# bilities herein created shall be paid and
discharged and the governor shall
e make proclamation thereof; but if
# majority of the votes cast as aforesaid
are against this act then the same
f shall be and become void.
n Sec. II. 1t shall be the duty of the
s secretary of state in accordance with
law to have this act published in at
t least one newspaper in each county, or
r. city and county,, if one be published
}, therein, throughout this state, for
e three months next preceding the gem