Imperial Valley press., 1922-10-19

1
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 resoh-
| tions.
All 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 adopt ed
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 n valid and bind
| ing obligation upon the State of Cali
| fornia, although the sale thereof be
made at u date or dates upon which the
officers having signed, eountersigned
and endorsed said bonds, or any or
either of said officers, shall have eeas
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 a clause or clauses stating that
interest shall cease to accrue thereon
of{n 1,kn -
| therof, and referring 20 this act and
to the resolution of the veterans well
| fare finance committee hereunder by
virtue of which said bond is issued.
| Sec. 8. The requisite number of
Isuitable 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 the date of is
suance of the bond to which shd cou-
pons pertain.
Sec. X 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 controller war
rants drawn in his favor as provided
in section five hereof and perforate
the bonds so paid with a suitable de-
vice in manner to indicate such pay
ment and the date thereof. He shah
also, on the said respective dates of
| oil dc haa
j, dates of maturity and remaining un
sold, by perforation with 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 this
act to be issued, and shall be apple
able, as far as practicable, to any duly
authorized agent of the state treasurer
Sec. 3. There is hereby appropriated
2 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 :rld interest be-
comes due and payable.
There shall be collected annually in
, the same manner and at the same time
as other state revenue is collected such
sum, in addition TO the ordinary rev
, enues of the state, as shall be required
to pay the principal ami interest ON said
bonds as herein provided, and it is
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 MS
, herein prescribed, not in excess of the
principal of and interest on the said
bonds then due and payable and, in the
event of such moneys so returned or
said dates of maturity being less than
, the said principal and interest Their
81 due and payable, then the balance re
naming unpaid shall be returned into
the general fund in the state treasury
out of said specific fund as soon there
{ after as it shall become available, to-
, gethdr with interest thereon, from such
dates of maturity until so returned, at
the rate of five per cent per annum,
/ compounded semiannually.
Both principal and interest of said
bonds shall be paid when due upon
J warrants duly drawn against said APP
preparation from the general fund by
) the controller of the state in favor of
the state treasurer or in favor of any
, duly authorized agent of the state trea-
surer, upon demands audited by the
state board of control, and the moneys
| 10 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 upon
warrants duly drawn by the controller
, of the state upon demands duly audit
! ed by the state board of control
, Sec. 6. The sum of fifteen thousand
dollars is hereby appropriated out of
any money in the state treasury not
otherwise appropriated to pay the ex-
penses that may be incurred by the