Imperial Valley press., 1944-08-30

lState but the Treasurer must reject any
and all bids for said bonds. or for any of
them. which shall be below the par value
lof said bonds so offered plus the interest
which has accrued thereon between the
date of sale and the last preceding inter-
est maturity date and with the approx
| al of the Governor. he may from time
to time, by public announcement at the
lplace and time fixed for the SALE con-
ltinue such sale. as to the whole Of the
bonds offered. or any part thereof Of
lfered, to such time and place as he may
select. Before Offering any Of said
bonds for sale the said Treasurer shall
ldetach therefrom all coupons which
lhave matured or will mature before the
lday fixed for such sale.
990.S. Due notice of the time and
Iplace Of sale of all bonds shall be given
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 publi-
Ication in one newspaper published in the
lefty of Los Angeles once week during
| four weeks prior to such sale. In addi-
ltion to the notice last above provided
flor, the State Treasurer may give such
| further notice as he may deem advisa-
BILE, but the expense and cost of such ad-
ditional notice shall not exceed the sum
of five hundred dollars tS500) for each
sale so advertised. The proceeds of the
ISale of such bonds and such amount as
may have been paid as accrued interest
thereon shall be forthwith paid over by
lsaid Treasurer into the Veterans Farm
and Home Building Fund of 1943 and
must be used exclusively in aiding vete-
rams in the acquisition of. or payments
for, farms and homes, in accordance
with the provisions of this article and
the proceeds from the sale of said
bonds may be used to pay the debt Gre
lated by the issuance and sale thereof.
5000 The Veterans Welfare Board
is authorized. with the approval of the
State Department of Finance, to invest
lany surplus moneys In the Veterans
Farm and Home Building Fund of 1943
lin bonds of the United States, or of the
State of California, or of the several
counties or municipalities or other
political subdivisions of the State Of
california, and to sell such bonds. or
any % them. at the governing market
rates upon approval OF the state De-
lpartTAent of Finance, or the Veterans
Welfare Board may. with the approval
lof the Director of Finance, invest
moneys In such fund. In interest bearing
certificates of deposit of State banks
having a paid-up capital of five hundred
Thousand dollars (S500.000) or more :;
provided, that the total amount of
money so deposited with any one bank
shall not exceed sum equal to so per
Icetlt Oh iIle Ddlu-uD CdDltdi Oi SUCH DdIlk
provided. however, that nothing herein
contained shall inhibit or be construed
to inhibit the depoSiting in banks in
accordance with the provisions of an
act entitled IAN 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" ap-
proved April ~. 1928, and of any and all
acts amendatory thereof or supplement
tai thereto. of moneys of any OF the
funds subject to the control of the Vete-
rams Welfare Board or appropriated for
its use.
Interest accruing upon the deposit of
moneys of the Veterans Farm and
Home Building Fund of l943 shall be
paid into and credited to said fund.
991. There is hereby created Vete-
rams Finance Committee of l943 COM
posed of the Governor. State Controller,
State Treasurer, Director of Finance,
and chairman of the 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 Finance Committee or
Il943.
Upon request of the Veterans We'll
fare Board, supported by statement of
the plans and projects of the Veterans
Welfare Board with respect thereto, the
Veterans Finance Committee of l943
ishall determine whether or not bond
Tissue under this article is necessary or
desirable to carry such plans and prof.
lectS into execution.
9g11. Whenever the said Veterans
Finance Committee of 1943 shall nave
determined that bond issue under this
larticle is necessary or desirable to carry
such plans and projects into execution,
III shall adopt a resolution to this e1ect
THE said resolution shall authorize and
direct the State Treasurer TO prepare the
requisite number Of suitable bonds and
shall specify
j The aggregate number. aggregate
lpar value, and the date of issuance OF
The bonds to be issued.
2 The date or dates of maturity OF
1.-THE bonds to be issued and the number
land numerical sequence OF the BONDS
maturing at each date of maturity.
j 3 The annual rate of interest which
the bonds to be issued shall bear
4 a. The number, numerical sequence
lamount or amounts and the dates OF
maturity of the interest coupons to be
ATTACHED to the said bonds.
| The technical form and language
Iof the bonds to be issued and OF the
Interest coupons to be attached thereto
In determining the date or dates ol
maturity OF the said bonds and tht
Iamount of bonds maturing at each date
lof maturity, the Veterans Finance
ICommittee of 1943 shall be guided BY
THE amounts and dates OF maturity ol
1.-THE revenues estimated to accrue to the
Veterans Welfare Board from the
transactions to be financed by each Is
Isue, and shall fix and determine sale
dates and amounts In such manner that
altogether with the dates and amounts OF
,Iinterest payments on the said bond Is
sue. they shall coincide. as nearly a.
practicable, with the date5 and amount,
lof such estimated revenues; provided
THAT the bonds first to mature In eacf
Issue. shall mature not later than fv'