Imperial Valley press., 1934-10-09

interest maturity date; and with tn,
approval of the Governor, lie may from
time to time, by public announcement
at the place and time fixed for the sale
continue such sale, as to the whole o.
the bonds offered. or any part thereo
offered. to such time and place as h,
may select. Before offering any o.
said bonds for sale the said Treasurer
shall detach therefrom all coupon:
which have matured or will mature
before the day fixed for such sale.
SEC. s. Due notice of the time ant
place of sale of all bonds must bt
given by said Treasurer by publica
ton in one newspaper published In the
City and County of San Francisco anC
also by publication in one newspaper
published in the city of Sacramento
and by publication in one newspaper
published in the city of Los Angeles
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
notice shall rot exceed the sum of five
hundred dollars for each sale sc
advertised. The proceeds OF the sale
or 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,
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 De used to pay the debt created
by the issuance and sale thereof.
SEC. 2. The Veterans WeIfare
Board shall no and baraI,1, to
lied, with the approval OF the State
Board of Control, to inves, 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
or Finance, invest moneys in any of
the funds subject to the control of the
veterans Welfare Board or approprl-
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 sum equal to fifty per
SGHt VI lHe pllu up capital or such
bank; provided, however, that nothing
herein contained shall inhibit or he
construed to inhibit the depositing in
banks in accordance with the provi-
sions OF an act entitled AN act to
authorize and control the deposIting in
banks of 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 ~, 1928,
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 appropriat ton
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-
tToller, State Treasurer, chairman OF
the State Board of Control, and chair
man OF Veterans Welfare Board, all
OF whom shall serve thereon without
compensation and 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
mittee.