Imperial Valley press., 1922-08-17

l lllbbce duu SDecllltu III Sucu ItSOlullOIl,
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.
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 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 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 incumbents of the offices
held by them at the time of signing,
countersigning, or endorsing said bonds.
EasA bond issued under this act shall
contain a cfause 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 vel
: 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 intcr-
! est coupons shall bear the facsimile
= signature of the state treasurer who
! shall be in office on the date of is
9 suance of the bond to which said 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
q shall, on the respective dates of matur-
| ity of said bonds, or as soon there
4 after as said matured bonds are sur
+ rendered to him, pay the same out of
the proceeds of the controllers war
9 rants drawn in his favor as provided
9 in section five hereof and perforate
the bonds so paid with suitable de-
vice in a manner to indicate such pay
ment and the date thereof. He shall
also, on the said respective dates of
maturity, cancel all bonds bearing said
J., dates of maturity and remaining un
:, sold by perforation with a suitable de-
i i 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
Sec 5. There is hereby appropriate,
,f from the general fund in the stat
6 treasury such sum annually as will b.
10 necessary to pay the principal of anC
: the interest on the bonds issued an(
,s sold pursuant to the provisions of thi
q act, as said principal End interest be
"a comes due and payable.
: There shall be collected annually il
- the same manner and at the same time
a as other state revenue is collected sucl
a. sum, in addition to the ordinary rev
10 enues of the state, as shall be required
.. to pay the principal and interest on sale
% bonds as herein provided, and it j
NJ hereby made the duty of all Officers
# charged by law with any duty in re
r. gard to the collection of said revenue
=. to do and perform each and every act
" which shall be necessary to collect
d such additional sum.
,. On the several dates of maturity OF
,r said principal and interest in each fis
4. cal year, there shall be returned into
,. the general fund in the state treasury
f all of the moneys in the specific fun(
!. into which the proceeds from the sale
O of said bonds have been covered as
q herein prescribed, not in excess of the
% principal of and interest on the sale
p bonds then due and payable and, in the
f. event of such moneys so returned OF
4 said dates of maturity being less thar
o the said principal and interest ther
G due and payable then the balance re
:. manning unpaid shall be returned into
l. the general fund in the state treasury
n out of said specific fund as soon there
f after as it shall become available, to
q gether with interest thereon, from sucl
dates of maturity until so returned, al
the rate of five per cent per annum
n compounded semiannually
Both principal and interest of said
b. bonds shall be paid when due upon
IS warrants duly drawn against said ap
;. preparation from the general fund by
G the controller of the state in favor OF
/ the state treasurer or in favor of any
G duly authorized agent of the state trea
!, surer, upon demands audited by the
q state board of control, and the moneys
d 10 be returned into the general fund
el in the state treasury pursuant to the
|. provisions of this section. shall like
1, wise be paid as herein provided upon
=, warrants duly drawn by the controller
G of the state upon demands duly audit
Il ed by the state board of control.
o Sec. 6. The sum of fifteen thousand
= dollars is hereby appropriated out of
4 any money in the state treasury not
IS otherwise appropriated to pay the ex'
a penses that may be incurred by the
eI +,oaeu,ar in hoy Soi1 ho,l,