Imperial Valley press., 1922-08-03

, 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 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, countefsigned 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, countcrsign-
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 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 Il clause or clauses stating that
interest shall cease to accrue thereon
from and after the date of maturity
Thereof, 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.
See. 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
I signature of the state treasurer who
shall be in office on the date of is
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 mt 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 s war
rants drawn in his favor as provided
4 in section five hereof and pcrforate
the bonds so paid with a suitable de
vice in Il 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
dates of maturity and remaining un-
sold, by perforation with n suitable de
!, vice in "A manner to indicate such can
collation. and the date thereof The pro
visions of this section shall be applic-
able also to the interest coupons per
taining 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
See. ). There is hereby appropriated
g 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 in
the same manner and at the same time
as other state revenue is collected such
a 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 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 oi
> said principal. and interest in each fis
cal year, there shall be returned into
the general fund in the state treasury
E all of the moneys in the specific funC
into which the proceeds from the salt
= of said bonds have been covered n
. herein prescribed, not in excess of tn,
o principal of and interest on the sale
!. bonds then due and payable and, in thu
event of such moneys so returned OF
4 said dates of maturity being less thar
n file said principal and interest thel
q due and payable then the balance re
!. naming unpaid shall be returned init
the general fund in the state treasur,
r out of said specific fund as soon there
81 after as it shall become available, to
q gether with interest thereon, from sucl
dates of maturity until so returned, n
the rate of five per cent per annum
= compounded semiannually.
Both principal and interest of SAT-
bonds shall be paid when due upo1
IS warrants duly drawn against said az
). preparation from the geaeral fund b,
q the controller of the state in favor o
!. the state treasurer or in favor of an
q duly authorized agent of the state trea
, surer, upon demands audited by th
70 state board of control, and the money
n TO be returned into the general fun
10 in the state treasury pursuant to Tn
=. provisions of this section .hall like
= wise be paid as herein provided upo
", warrants duly drawn by the controlle
10 of the state upon demands duly audit
II cd by the state board of control.
10 See. 6. The sum Of fifteen thousan
r. dollars is hereby appropriated out
ID any money in the state treasury nc
is otherwise appropriated to pay the e'
n penscs that may be incurred by tn
,fl state treasurer in having said bond