Imperial Valley press., 1922-09-21
PAGE FIVE

said bond issue, they shall coincide, as
nearly as practicable, and be eommen-
surate, as nearly as practicable, with
the dates and amounts of such estimat-
ed revenues; provided, that the bonds
first to mature in each issue, shall ma.
ture not later than five years from the
date of issuance thereof; provided.
further, that specified numbers of
bonds of specified numerical sequence
| shall thereafter mature at annual in.
| tervals; and provided, further, that the
ponds last TO mature in each issue shall
mature not later than fortv-five wears
from the date of issuance thereof.
| The rate of interest to be borne bv
| the said bonds shall be uniform for all
the bonds OF the same issue and shall
| be determined and fixed by the vet.
Grams welfare finance committee ac.
cording to the then prevailing market
| conditions, but shall in no case exceed
| SIX per cent per annum, and the do.
termination of said committee as to tho
| rate of interest shall be conclusive as
to the then prevailing market condi.
flons. The interest coupons to be at.
taehed to the said bonds shall be nav.
able al semiannual intervals from tho
date OF issuance of said bonds; provid
ed, that the interest coupon first nav
aDle may, IT. the veterans welfare FL
nance committee shall so determine and
specIfy, be payable one year after the
date of issuance of said bonds.
I see. ~ All actual and necessary
expenses of the veterans welfare Fl.
nance committee and of the members
hereof shall be paid out of the funa
INTO which the proceeds from the sal,
OF said bonds shall be covered. upon an.
proVal of the state board of contr3,
and on controller s warrant dulv drawn
TOR that purpose, and shall constitute
expenses OF the veterans welfare
board
See. 10. The state controller. the
STATE treasurer, and the veterans wei.
fare finance committee shall keen full
and particular account and record of
all their proceedings under this act
ana they shall transmit to the COVER
nor IN abstract of all such proceedings
hereunder, with an annual report r.
be by the governor laid before the leeis.
lature biennially; and all books and m.
PerS pertaining to the matter provided
for In this act shall at all times he
open to the inspection of any party in
terested, or the governor, or the attor.
nev general, or n committee of either
branch of the legislature. or n ioint
committee of both, or any citizen of
the state.
Sec. IA. This act, if adopted by the
people, shall take effect on the fif
teenth day of November, 1922. as TO
all Its provisions except those relating
70 and necessary for it's submission to
the people, and for returning, canvass
ing, and proelaiming the votes. and as
to said excepted provisions this act
shall take effect Immediately.
Sec. Is. This act shall be subm;ttad
10 the people of the State of California
for their ratification at the NEXT oen.
erai election, to be held in the month
"f November, 1922, and all ballots at
SAID election shall have printed there.
on and IN square thereof, the words.
For the veterans welfare bond act
OF 1921, - and in the same square Under
sald words the following in BREWER
t'pe: ''Fhis act provides for bond
issue of ten million dollars to be- used
~ the veterans welfare board in ss-
slstmg California war veterans to ac
qnire farms or homes.'' In the SQUARE
immediately below the square contain
ing such words, there shall be printed
on said ballot the words: "Acainst the
veterans welfare bond act of 1927 -.
ana IN the same square Immediately be-
low said words "Against the veterans,
welfare bond act of 1922 in BREWER
type shall be printed "This act pro-
vides for a bond issue of ten million
dollars to be used by the veterans well
rare board in assisting California war
veterans to acquire farms or homes"
Opposite the words "For the veter
ans welfare bond act of 1927 and
Against the veterans welfare bond
act of 1921, there shall be left spaces
IN which the voters may place cross
in the manner required bv law to indi-
cate whether they vote for or against
said act, and those voting for said act
shall do so by placing a cross opposite
the words "For the veterans welfare
bond act of 1927 and those voting
against the said act shall do so bv
placing cross opposite the words
Against the veterans welfare bond
act of 1921" The governor of this
state shall include the submission of
this act to the people, as aforesaid, in
his proclamation calling for said gen.
eral election.
Sec. 16. The votes cast for or
against this act shall be counted, re-
turned and canvassed and declared in
the same manner and subject to the
same rules as votes cast for state of
fieers; and if it appear that said act
shall have received a majority of all
the votes east for and against it at said
election as aforesaid, then the same
shall have effect as hereinbefore pro-
vided, and shall be irrepealable until
the principal and interest of the lia-
| bilities herein created shall be paid and
discharged, and the governor shall
make proclamation thereof; but if a
majority of the votes east as aforesaid
are against this act then the same
shall be and become void.
Sec. IL. 1t shall be the duty of the
secretary of state in accordance with
law to have this act published in at
least one newspaper in each county, or
city and county, if one be published
| a.