Imperial Valley press., 1922-09-28


but in no case exceeding six per cent
per annum. Both principal and interest
shall be payable in gold coin of the
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.
sAll bonds issued under this act shall
bear the signature of the governor and
| the facsimile contersignature 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 a valid and bind.
ing obligation upon the State of Cali
fornia, although the sale thereof be
made at 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 incumbeuts 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
A.k -,
therof, and referring to this act and
to the resolution of the veterans wei
fare finance committee hereunder by
virtue of which said bond is issued.
Sec. 8. 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 facsimile
signature of the state treasurer who
shall be in office on ehe date of is
suance of the bond to which sald cou
pons pertain.
Sec. 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 war
rants drawn in his favor as provided
in section five hereof and perforatt
the bonds so PAID with suitable de
vice in a manner to indicate such pay
ment and Me date thereof. He shal
also, on the said respective dates o.
maturity, cancel all bonds bearing sale
. dates of maturity and remaining un
sold, by perforation with a suitable de
, vice in a manner to indicate such can
collation. and the date thereof. The pro
o 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
a able, as far as practicable, to any duh
authorized agent of the state treasurer
Sec. 5. There is hereby appropriate
. from the general fund in the stat
treasury such sum annually as will b
. necessary to pay the principal of AM
!. the interest on the bonds issued an,
sold pursuant to the provisions of thi
: act, as said principal and interest be
o comes due and payable.
n the same manner and at the same tim
as other state revenue is collected sucl
!. a sum, in addition to the ordinary rev
o enues Of the state, as shall BE required
;. to pay the principal and interest on SAT-
q bonds as herein provided, and it j
n hereby made the duty of all officer
Z charged by law with any duty in re
;. gard to the collection of said revenue
+. to do and perform each and every ac
p which shall be necessary to collec
a such additional sum.
;. On the several dates of maturity o
r said principal and interest in each fis
!. cal year, there shall be returned int
;. the general fund in the state treasury
( all of the moneys in the specific fun
|. into which the proceeds from the sal
n of said bonds have been covered a
q herein prescribed, not in excess of tn
q principal of and interest on the sal
J. bonds then due and payable and, in tn
: event Of such moneys so returned o.
4 said dates of maturity being less thai
o the said principal and interest the
q due and payable, then the balance re
j. naming unpaid shall be returned int
+. the general fund in the state treasur.
r out OF Salu SpeclIlc Iunu aS soon tHere
f after as it shall become available, to
e gether with interest thereon, from sucl
dates of maturity until so returned, a
the rate Of five per cent per annum
n compounded semiannually.
Both principal and interest of sai'
J. bonds shall be paid when due upol
s warrants duly drawn against said ap
!. preparation from the general fund b,
@ the controller of the state in favor o
! the state treasurer or in favor Of an,
G duly authorized agent of the state trea
l., surer, upon demands audited by tn
. state board of control, and the money
10 be returned into the general fun'
g in the state treasury pursuant to th
+ provisions of this section shall like
!, wise be paid as herein provided upol
!. warrants duly drawn by the controlle
e Of the state upon demands duly audit
4 ed by the state board of control.
oil Sec. 6. The sum Of fifteen thousand
: dollars is hereby appropriated out o.
1 any money in the state treasury mo-
s otherwise appropriated to pay the ex
a penses that may be incurred by thu
( state treasurer in having said bondi