Imperial Valley press., 1922-09-21

| bHe Sa1Q veterans WelTare finance ca m
mittee and specified in such resolution
but in no case exceeding six per cent
per annum. Both principal and interest
shall be payable in gold coin of tn,
United States, of the present standard
| Of value, at 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.
III bonds issued under this act shall
| bear the signature of the governor and
the facsimile eontersignature 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 Oh 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 q valid and bind
ing obligation upon the State of Cali
fornia, although the sale thereof be
made at a date or dates upon which the
Officers having signed, countersigned
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 at the time of signing
countersigning, or endorsing said bonds.
Each bond issued under this act shall
contain clause or clauses stating that
interest shall cease to accrue thereon
from and after the date of maturity
therof, and referring 10 this act and
to the resolution of the veterans wei
fare finance committee hereunder by
virtue of which said bond is issued.
See. 3. the requisite number of
suitable interest coupons, appropriate
ly 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
suance of the bond to which sand cou-
pons pertain.
See. 4 All bonds issued under this
act and sold shall be deemed to have
been called in at their respective dates
of maturity and the state treasurer
shall, on the respective dates of matur
ity of said bonds, or as soon there
after as said matured bonds are sur
rendered to him, pay the same out of
the proceeds of the controllers s war
rants drawn in his favor as provided
in section five hereof and perforato
the bonds so paid with suitable de
via tn oafa
ment and Me date thereof. He shall
also, on the said respective dates OF
maturity, cancel all bonds bearing said
dates of maturity and remaining un
sold, by perforation with a suitable de
vice in manner to indicate such can
collation. and the date thereof. The pro
visions of this section shall be apple
able also to the interest coupons per
tanning to the bonds authorized by thi
act to be issued, and shall be apple
able, as far as practicable, to any duh
authorized agent of the state treasurer
See. 5. There is hereby appropriated
from the general fund in the state
treasury such sum annually as will be
necessary to pay the principal of and
the interest on the bonds issued and
sold pursuant to the provisions of this
act, as said principal and interest be.
comes due and payable.
There shall be collected annually il
the same manner and at the same time
as other state revenue is collected sucl
q sum, in addition to the ordinary rev
enues of the state, as shall be required
to pay the principal and interest on said
bonds as herein provided, and it j.
hereby made the duty of all Officers
charged by law with any duty in re
gard to the collection of said revenue
to do and perform each and every act
which shall be necessary to collect
such additional sum.
On the several dates of maturity Of
said principal and interest in each fis
cal year, there shall be returned into
the general fund in the state treasury
all of the moneys in the specific fund
into which the proceeds from the sale
of said bonds have been covered as
herein prescribed, not in excess of the
principal of and interest on the sale
bonds then due and payable and, in the
event of such moneys so returned OF
said dates of maturity being less thar
the said principal and interest ther
due and payable, then the balance re
naming unpaid shall be returned into
the general fund in the state treasur,
out of said specific fund as soon there
after as it shall become available, to
gether with interest thereon, from sucl
dates of maturity until so returned, al
the rate of five per cent per annum,
compounded semiannually.
Both principal and interest of sai'
bonds shall be paid when due upo
warrants duly drawn against said al
preparation from the general fund b.
the controller of the state in favor c,
the state treasurer or in favor of any
duly authorized agent of the state trea
surer, upon demands audited by tho
state board of control, and the money
TO be returned into the general fund
in the state treasury pursuant to the
,, provisions of this section shall like
wise be paid as herein provided upor
warrants duly drawn by the controller
of the state upon demands duly audit
ed by the state board of control.
See. 6. The sum of fifteen thousand
dollars is hereby appropriated out o1
any money in the state treasury not
otherwise appropriated to pay the ex-