Imperial Valley press., 1934-09-25

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 select. Before offering any Of
said bonds for sale the said Treasurer
shall detach therefrom adj coupons
which have matured or will mature
before the day fixed for such sale.
SEC. s. Due notice of the time and
place of sale of all bonds must be
given by said Treasurer by publica-
ton In one newspaper published In the
City and County of San Francisco and
also by publication in one newspaper
published In the city of Sacramento
and by publication in one newspaper
once a week during four weeks prior
to such sale. In addition to the notice
last above provided for, the State
treasurer may give such further notice
as he may deem advisable. but the ex-
pense and cost of such additional
hundred dollars for each sale go
advertised. The proceeds of he sale
of such bonds and such amount as may
have been paid as accrued interest
thereon shall be forthwith paid over
by said Treasurer into the veterans
farm and home building fund and must
be used exclusively in aiding veterans
in the acquisition of, or payments for
farms and homes, in accordance with
the. provisions of the Veterans Farm
and Home Purchase Act, and of any
and all acts amendatory or supple
mental to said act provided, that the
proceeds from the sale of said bonds
may. be used to pay the debt created
by the Issuance and sale thereof
Sec. 9. The Veterans welfare
Board shall be and hereby is author
lied. with the approval OF the State
Board OF Control, to invest any surplus
moneys in any of the funds subject to
or appropriated for its use in bonds
of the United States, or of the State of
California. or of the several counties
or municipalities or other political SUBJ
divisions of the State of California,
and to sell such bonds, or any of them.
at the governing market rates, upon
approval of the State Board Of Con-
troll; or the Veterans Welfare Board
may, with the approval of the Director
the funds subject to the control of the
Veterans Welfare Board or appropri-
ated for Its use, in interest bearing
certificates of deposit of State banks
having paid up capital of five hun
dred thousand dollars or more: pro-
vided, that the total amount of money
so deposited with any one bank shall
not exceed a sum equal to fifty per
cent of the paid up capital OF such
bank; provided, however, that nothing
heran contained shall inhibit or be
construed 70 inhibit the depositing In
banks in accordance with tho provi-
sions of an act entitled IAN act to
authorize and control the depositing In
banks nf moneys belonging to or in
the custody Of the State and to repeal
all acts or parts OF acts conflicting
with this act" approved April 12. 1923,
and of any and all acts amendatory
thereof or supplemental thereto, OF
moneys OF any of the funds subject to
the control of the Veterans Welfare
Board or appropriated for its use.
Interest accruing upon the deposit
of moneys appropriated for the use of
the Veterans Welfare Board or of any
Of the funds subject to the control OF
said board shall be paid into and
credited to the respective appropriation
or fund to which the money so
deposited belongs.
SEC. 10 There Is hereby created
Veterans Welfare Finance Committee
composed of the Governor. State Con-
troller. State Treasurer, chairman of
the State Board of Control. and chair
man OF Veterans Welfare Board all
Of whom shall serve thereon without
compensatlon and n majority Of whom
shall be empowered to act for said
committee. The Attorney General OF
the state shall be the legal adviser of
the Veterans Welfare Finance Com
Inlttcs.