Imperial Valley press., 1922-08-17

OIIeFeu pluS Iue Interest WHICH mas dc-
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 tor 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.
See. 8. Due notice of the time and
place of sale of all bonds must be given
by said treasurer by publication in one
newspaper published 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 cfty of Los Angeles and by publ
cation in one newspaper published in
the city of Sacramento once a week dur
ing four weeks prior to such sale. In
addition to the notice last above pro
vided for, the state treasurer may give
| SUtn IuElUpG UOIIct dS may NCIiAi
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 into the veterans farm
and home building fund, as the case
may be, in accordance with the resolu-
ton of the veterans s 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
land for veterans and to provide fol-
cooperation of the state with the agen
cies 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
=. act or either of them, and of any and
all acts amendatory or supplemental
: to said acts, or either of them; provid
ed, that the said veterans welfare
board must pay over to the genera
: fund of the state from the proceeds OF
= the sale of the bonds all money whicl
u has been heretofore or may be here
1 after approx rated aHl advanced out o1
tie general f1rd i'll the state treaslr,
for the use of ih3 said veterans wei
: fare board on condition that it shal
/ be so paid over; provided, further
J. that the said veterans welfare boar,
: may, out of the proceeds from the -
of said bonds, pay all or any part 0
Is any Indebtedness heretofore by il il
G. cured in accordance with law and rs
y naming unpaid, including the interes
I. accrued thereon, unless the rate of il
"a terest applying to such indebtedness
Ie is less than the rate of interest AZ
'e plying to the said bonds; and provided
q further, that the proceeds FROM the sal
q of said bonds may be used to pay tn
is debt created by the issuance and sal
p thereof.
Sec. 8. The veterans welfare boart
u shall be and hereby is authorized, witt
y 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
palities 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
~ of the state board of control.
FL Sec. 10. There is hereby created
!. veterans welfare finance committee
O composed of the governor, state con
troller, state treasurer, chairman o
i the state board of control, and chair
q man of the veterans welfare board, al
c of whom shall serve thereon withou
q compensation and q majority of whom
d shall be empowered to act for said com
o mittee. The attorney general of tn
n state shall be the legal advisor of tn
n veterans welfare finance committee.
n Upon request of the veterans wei
=, fare board, supported by a statemen
n of the plans and projects of the veteI
V ans welfare board with respect there
!. to, which statement shall designate til
\ opcciiiC luuu 10 which Sucn plans an
h projects relate, the veterans welfar
+ finance committee shall determn
!. whether or not n bond issue under thi
act is necessary or desirable to carr
d such plans and projects into execution
n Sec. IL. Whenever the said veter
J. ans welfare finance committee shal
y have determined that q bond issu
f under this act is necessary or desirabl
y to carry such plans and projects int
y execution, it shall adopt a resolution t.
e this effect. The said resolution shall
S authorize and direct the state treasur
d er to prepare the requisite number o.
e suitable bonds and shall specify:
! i. The aggregate number, aggregate
n par value, and the dato of issuance OF
r the bonds to be issued
Il 2. The date or dates of maturity OF
the bonds to be issued and the number
and numerical sequence of the bonds
f maturing at each date of maturity.
t 3. The annual rate of interest
n which the bonds to be issued shall bear
81 4. The number, numerical sequence
| nmount or amouptS and thp 1ntac of