Imperial Valley press., 1922-08-31

crued thereon between the date of sale
and the last preceding interest maturity
date; and with the approval of the |
governor, he may from time to time, |
BY public announcement at the place |
and time fixed for the sale, continue
such sale, as to the whole of the bonds |
offered, or any part thereof offered, |
to such time and place as he may Sc
lect. Before offering any of said bonds |
for sale the said treasurer shall detach |
therefrom all coupons which have ma
tured or will mature before the day
| fixed for such sale.
| Sec. 8. Due notice of the time and
place cn sale of all bonds must be given
| by said treasurer by publication in one
newspaper pubksLe ed in the city and
county of San Francisco and also by
| publication in one newspaper published
in the city of Oakland and by publ
| cation in one newspaper published in
the city of Los Angeles and by publ
cation in one newspaper published in
the city of Sacramento cnee 4 week dur
| ing four weeks prior to such sale. In
addition to the notice last above pro
| vided for, the state treasurer may give
such further notice as he may deem
advisable, but the expense and cost of
such additional notice shall not exceed
the sum of five hundred dollars for
each sale so advertised The proceeds
of the sale OF such bonds and such
amount as may have been paid as ac-
! crued interest thereon shall be forth
with paid over by said treasurer into
the veterans welfare fund for land
settlement, or inso the veterans farm
and home buibHng fund, as the case
may be, in accordance with the resolu-
ltiop of the veterans welfare finance
committee, provided for in section
eleven of this act, by virtue of which
resolution the said bonds shall have
been issued, and must be used eXclu-
sively to provide useful employment
and the opportunity to acquire farm
homes with profitable livelihood on the
i land for veterans and to provide for
cooperation of the state with the agen-
ljcies of the United States engaged in
work of similar character, and to fur
nish to veterans the opportunity to pur-
chase farms, homes and home sites, in
accordance with the provisions of the
California veterans welfare act and of
+ the veterans farm and home purchase
Il lCu, VI tlL1ftI VI llCIIl, anu VI any anu
| all acts amendatory or supplemental
: to said acts, or either of them; provid
| ed, that the sid veterans welfare
board must pay over to the genera
" fuld of the state from the proceeds OF
\ the sale of the bonds all money which
| has been heretofore or may be here
after appro, rated ard advanced out ot
tile general f1rd in the state treasur,
for the use of ib3 said veterans wei
a fare board on condition that it shal
be so paid over; provided, further
that the said veterans welfare boarC
may, out of the proceeds from the s.es
of said bonds, pay all or any part o
any Indebtedness heretofore by II IL
c Cured in accordance with law and re
y naming unpaid, including the interes
+ accrued thereon, unless the rate OFT il
e terest applying to such indebtedness
5e is less than the rate of interest az
'C | plying to the said bonds; and provided
G | further, that the proceeds from the sal
q of said bonds may be used to pay tn
Il debt created by the issuance and sal
thereof.
Sec. 8. The veterans welfare boar,
| shall be and hereby is authorized, witt
!, the approval of the state board of con
troll, to invest any surplus moneys il
: any of the funds subject to or appro
y | priated for its use in bonds of the Unit
. ed States, or of the State of California
or of the several counties or munici
fpalities or other political subdivision
of the State of California, and to sci
:, such bonds, or any of them, at tn
=, | governing market rates, upon approva
- 1 of ba or ota nf
81 See. 10. There is hereby created
: veterans welfare finance committe
, composed of the governor, state con
, troller, state treasurer, chairman o
Z the state board of control, and chair
, man of the veterans welfare board, al
+, of whom shall serve thereon withou
{ compensation and a majority of whom
: | shall be empowered to act for said com
Q mittee. The attorney general of th
| state shall be the. legal advisor of tn,
, ! veterans welfare finance committee.
Upon request of the veterans wei
fare board, supported by statemen
, | Of the plans and projects of the veter
, ans welfare board with respect there
| to, which statement shall designate thC
| specific fund to which such plans anC
! projects relate, the veterans welfar,
I finance committee shall determine
| whether or not u bond issue under this
l act is necessary or desirable to carry
! | such plans and projects into execution
u See. IL. Whenever the said veter
! ans welfare finance committee shall
! have determined that bond issue
{ | UNDER this act is necessary or desirable
: to carry such plans and projects into
| execution, it shall adopt a resolution tt
e this effect. The said resolution shall
{ | authorize and direct the state treasur
er to prepare the requisite number OF
{ | suitable bonds and shall specify:
p l. The aggregate number, aggregate
par value, and the date of issuance of
/ the bonds to be issued.
1 2. The date or dates of maturity OF
the bonds to be issued and the number
and numerical sequence of the bonds
maturing at each date of maturity.
II 8. The annual rate of interest
which the bonds to be issued shall bear.
II 4. The number, numerical sequence