Imperial Valley press., 1922-10-05

nlttee and Spec1TIed IN Such resolution,
but in no case exceeding six per cent
per annum. Both principal and interest
shall be payable in gold coin of thel
United States, of the present standard
Of value, at the office of the stateI
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 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 clause or clauses stating that
| interest shall cease TO accrne thereon
! from and after the date of maturity
therof, and referring 20 this act and
to the resolution Of the veterans vel
| fare finance committee hereunder by
virtue of which said bond is issued.
| See. 3. The requisite number of
| suitable interest coupons, appropriate
f! " numbered, shall be attached to eacl
| bond issued under this act. Said inter.
est coupons shall bear the fac-simile
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.
Sec. 4 An 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 o.
| the proceeds of the controller war
rants drawn in his favor as provided
in section five hereof and perforat'
the bonds so paid with n suitable de
vice in a manner to indicate such pay
ment and Me date thereof. He shal
also, on the said respective dates o.
maturity, cancel all bonds bearing sale
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 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
See. 5. There is hereby appropriate
from the general fund in the stat,
treasury such sum annually as will b,
necessary to-pay the principal of ant
the interest on the bonds issued and
sold pursuant to the provisions of thii
act, as said principal sad interest be
comes due and payable.
There shall be collected annually il
the same manner and at the same tim
as other state revenue is collected suel
sum, in addition to the ordinary rev
enues of the state, as shall be require,
to pay the principal and interest on said
bonds as herein provided, and it j.
hereby made the duty Of all officer
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 collec!
sucil additional sum.
On the several dates Of maturity o:
said principal and interest in each fis
| cal year, there shall be returned int
the general fund in the state treasury
all of the moneys in the specific fun'
into which the proceeds from the sale
of said bonds have been covered n
herein prescribed, not in excess of thu
| principal of and interest on the sai,
bonds then due and payable and, in thu
event Of such moneys so returned OF
said dates of maturity being less thai
the said principal and interest thcI
due and payable, then the balance re
naming unpaid shall be returned int.
the general fund in the state treasur,
out of said specific fund as soon there
after as it shall become available, to
gethcr with interest thereon, from sucl!
dates of maturity until so returned, a.
the rate of five per cent per annum
compounded semiannually.
Both principal and interest of saio
bonds shall be paid when due upo,
warrants duly drawn against said ap
preparation from the general fund b.,
| the controller of the state in favor o
the state treasurer or in favor Of an,
] duly authorized agent of the state trca
surer, upon demands audited by th
state board of control, and the money
10 be returned into the general fun,
in the state treasury pursuant to th'
provisions Of this section shall like
wise be paid as herein provided upo,
warrants duly drawn by the controlle
of the state upon demands duly audit
ed by the state board of control.
See. g. The sum of fifteen thousan,
dollars is hereby appropriated out O.
any money in the state treasury not
otherwise appropriated to pay the cx
penses that may be incurred by the,