Imperial Valley press., 1922-08-24

mittee and specified in such resolution, |
| but in no case exceeding six per cent
per annnm. Both principal and interest
shall be payable in gold coin of the
! United States, of the present standard
! Of value, ut the office Of the state
treasurer, or at the office of any duly
authorized agent Of the state treasurer,
and shall be so payable at the times
| specified in said resolution or resolu
| tiOnS.
| All bonds issued under this act shall
| bear the signature of the governor and
| the facsimile c0ntersignature of the
| controller and shall be endorsed by the
state treasurer either by original sig
nature or by signature stamp adopted
for each particular bond issued under
this act, and the said bonds shall be
signed, countersigned and endorsed by
the officers who shall be in office on the
date of issuance thereof, and each of
said bonds shall bear an impress of the
great seal of the State of California.
The said bonds so signed, countersign-
] ed, endorsed and sealed, when sold,
shall be and constitute Il valid and bind
ing obligation upon the State Of Cali
fornia, although the sale thereof be
made at n date or dates upon which the
officers having signed, countcrsigned
and endorsed said bonds, or any or
either of said officers, shall have ceas-
ed to be the incumbents of the offices
held by them ut the time of signing,
count ersignins, or endorsing said bonds.
| Each bond issued under this act shan
contain q cfarse or clauses stating that
interest shall cease to accrue thereon
from and after the date Of maturity
therof, and referring to this act and
to the resolution of the veterans well
fare finance committee hereunder by
virtue of which said bond is issued.
Sec. 3. The requisite number of
suitable interest coupons, appropriate
" numbered, shall be attached to each
:, bond issued under this act. Said inter
, est coupons shall bear the fac-simile
= signature Of the state treasurer who
! shall be in office on the date OF is
I. suance Of the bond To which said cou
! pons pertain.
! Sec 4 All bonds issued under thi'
{, act and sold shall be deemed to have
. been called in at their respective dates
E of maturity and the state treasurer
. shall, On the respective dates of matur
4 after as said matured bonds are sur
+ rendered to him, pay the same ont
the proceeds of the controller 8 wa
G rants drawn in his favor as provide
9 in section five hereof and perforat
the bonds so paid with suitable
= vice in q manner to indicate such pay
ment and the date thereof. He sha
also, on the said respective dates o
maturity, cancel all bonds bearing sal
go dates of maturity and remaining III
J. sold, by perforation with suitable dc
! vice in q manner to Indicate such caI
:. collation. and the date thereof. The pre-
. visions of this section shall be appn
>, I able also to the interest coupons PEI
y tanning to the bonds authorized by thi
act to be issued and shall be appE
IA able, as far as practicable, to any dul
authorized agent of the state treasurer
See. 5. There is hereby appropriate
r. from the general fund in the stat
G treasury such sum annually as will b
q necessary to pay the principal of an
:. the interest on the bonds issued am
s sold pursuant to the provisions of thi
:. act, as said PRINCIPAL fnd interest 'b'
q comes due and payable.
l.. There shall be collected annually
. tho same manner and at the same tim
as other state revenue is collected sue
=, u sum, in addition to the ordinary rev
q enues Of the state, rs shall be require
,. to pay the principal and interest on sal
q bonds rs herein provided, and it j
n hereby made the duty of all officer
f charged by law with any duty in r,
p. gard to the collection of said revenu,
l. to do and perform each and every ac
n which shall be necessary to cOlec
a such additional sum.
,. On the several dates Of maturity o
~ said principal and interest in each fis
;. cal year, there shall be returned int
p the general fund in the state treasur,
f all Of the moneys in the specific fun
!. into which the proceeds from tho sal
O of said bonds have been covered
c herein prescribed, not in excess of th'
q principal of and interest on the saif
=, bonds then due and payable and, in tn
/. event of such moneys so returned o,
d said dates of maturity being less tina
O the said principal and interest the
p due and payable, then the balance r.
!, naming unpaid shall be returned int
the general fund i'll the state treasur
r out of said specific fund rs soon there
{ after as it shall become available, to
@ gether with interest thereon, from sue
dates of maturity until so returned, a
the rate of five per cent per annum
a compounded semiannually.
Both principal and interest of sai(
;. bonds shall be paid when due upol
= warrants duly drawn against said ap
: preparation from the general fund b.,
@ the controller of the state in favor o.
r the state treasurer or in favor of an
C duly authorized agent of the state trea
!. 7 surer, upon demands audited by the
G state board of control, and the money
4 10 be returned into the general fune
e in the state treasury pursuant to tho
j. provisions of this section shall like
!, wise be paid as herein provided .upoI
. warrants duly drawn by the controller
G of the state upon demands duly audit
J ed by the state board of control.
D See. 6. The sum of fifteen thousand
= dollars is hereby appropriated out of
| any money i'll the state treasury not
$ otherwise appropriated to pay the eS
| penses that may be incurred by the