Imperial Valley press., 1944-11-01
PROPOSED Law
CHAPTER 58S

An act TO add Article 4, comprising
Sections $50 to ee1.3 inclusive, to
Chapter 8 Of Division 4 Of the Military
and Veterans Code, authorizing the
or liabilities, through the issuance
and sale Of State bonds. for the single
object Of creating a fund to provide
farm and home aid for veterans in
accordance with the provisions OF the
Veterans Farm and Home Purchase
Finance Committee Of te43; defining
the powers and duties Of said cont
nittes and OF the Veterans Welfare
Board and other State omeers IN
respect to the administration OF the
provisions hereof; providing ways
and means. exclusive Of loans. for the
payment Of the interest OF such debt
or debts, liability or liabilities. as
such interest falls due, and also for
the payment and discharge OF the
principal Of such debt or debts. iiabil.
ity or liabilities, as such principal
natures; appropristing money for
the expense Of preparing and OF ad.
vertjsino the sale Of bonds herein
authorized to be issued; and provid.
ina for the submission Of this act to
q vote Of the people at the general
election to be held in the month Of
November. 1914.
fApproved by Governor May ~. 1913
Filed with Secretary of State
May Is. 1913
Tn. people Of the State Of California
do enact as follows:
SECTION ! Article I. comprising Sec.
tions $50 to 99l 3, inclusive. Is added
to Chapter 8 of Division 4 OF the Mill
tary and Veterans Code. to read
Article 4 Veterans Bond Act Of l9i'
$50 This article may BE- cited as the
Veterans Bond Act Of 1943.
1901 For the purpose Of creating
a fund to provide farm and home aid
for veterans In accordance with the
provisions Of the Veterans Farm and
Home Purchase Act Of l943. and OF all
acts amendatory thereof or supple
mental thereto. the Veterans Finance
Gle shall be and 1t hereby Is authorized
and empowered TO create debt OF
debts, liability or liabilities. of the
State of California. in the manner and
TO the extent hereinafter provided, but
not otherwise. nor In excess thereof.
9902 After the issuance Of tn.
proclamation Of the Governor announc-
Ing the ratification Of this article. ant
Immediately after adoption Of any resO
luton by the Veterans Finance Com
mittee Of 1943 hereby created. provided
for In Section 99l I. the State Treas
Of suitable bonds of the denomination o
one thousand dollars H1.000) in ac
cordance with the specifications con
tained In such resolution. The aggre
gate par value Of all bonds issued unde
this article shall not exceed the sun
Of thirty million dollars t$30,000.0OOl
and the bonds issued under any sucl
resolution shall bear interest from tn
date of issuance Of said bonds to tn
date OF maturity thereof. at rate I
be determined by the said Veteran;
Finance Committee of 1943 and specl
fled In such resolution. but In no cas- cas-
exceeding 5 per cent per annum bot
principal and interest shall be payabl
In lawful money Of the United States
AT the Office Of the State Treasurer
or at the office OF any duly authorize
agent of the State Treasurer. and sha
be so payable at the times spec'hed
saio resolution or resolutions.
All bonds issued under this articl
shall bear the facsimile signature {
the Governor and the fac-simile counter
signature OF the Controller and shall .
endorsed by the State Treasurer eitht
by original signature or by signatuI
stamp adopted for each particular bon
Issued under this article and the bono
shall re signed, countersigDed ana eI
dorsed by the officers who shall be
office on the date OF Issuance thereo
and each Of said bonds shall bear a
impress Of tho Great Seal Of the Sta
Of California. The bonds 50 signe
countersigned. endorsed and scale
when sold, shall be and constitute
valid and binding obligation upon Il
state OF California. although the "a
thereof be made at a date or dates upt
which the officers having signed. coul
tersigned and endossed said bonds. I
any Or either Of said officers. shall ha,
ceased to be the incumbents of II
ofIlces held BY them az the time