Imperial Valley press., 1944-10-11

Legislature passed al ltS UIty -1Itn SeS-
sion, Is submitted to the people In ac-
cordance with the provisions of Section
l of Article XVI of the Constitution.)
PROPOSED Law,
CHAPTER sss
An act to add Article 4, comprising
Sections $50 to e91.3 inclusive, to
Chapter 8 Of Division 4 Of the Military
and Veterans Code. authorizing the
creation Of . debt or debts, liability
or iiabiIities, 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 1s43; defining
the powers and duties OF said COM
nnittes and Of the Veterans Welfare
Board and other State officers in
respect to the administration Of the
provisions hereof; proxidina ways
payment Of the interest Of such debt
or debts, liability or liabilities. as
such interest falls due, and also TOR
the payment and discharge OF the
principal Of such debt or debts, Iiabil.
natures; appropriatino money for
the expense Of preparing and OF ad.
vertisina the sale Of bonds herein
authorized to be issued; and provid.
ing for the submission OF this act to
. vote Of the people at the general
November. 1914.
tApproved by Governor May IS. 1913
Filed with Secretary OF State
May Is. 1943
The people Of the state Of California
do enact as follows:
SECTION Article 4. comprising Sec.
tions $50 to 991 3, inclusive, Is added
to Chapter s of Division Of the Mill
tary and Veterans Code. to read
Article 4 Veterans Bond Act Of 1874:
$50 This article may be cited as the
Veterans Bond Act Of i943.
1901 For the purpose OF creating
a fund to provide farm and home ale
provisions OF the Veterans Farm ano
Home Purchase Act Of i943. and Of all
acts amendatory thereof or supple
mental thereto, the Veterans Finance
Gle shall be- and 1t hereby Is authorized
and empowered to create debt ol
debts, liability or liabilities. Of the
State Of California. In the manner ant
to the extent hereinafter provided, bu
not otherwise. nor in excess thereof.
proclamation Of the Governor announc
Ing the ratification Of this article. ant
Immediately after adoption Of any reso
luton by the Veterans Finance Com
mittee OF l943 hereby created. provided
for in Section 991 1. the State Treas
urer shall prepare the requisite numbe
OF suitable bonds of the denomination o
one thousand dollars t$l .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. 900
and the bonds issued under any sucl
resolution shall bear interest from TN
dat. Of issuance Of said bonds to tn
date Of maturity thereof, At q rate I
Finance Committee OF i943 and specl
fed in such resolution. but In no cas-
exceeding 5 per cent per annum 30,
principal and interest shall be payabl
In lawful money Of the United states
at the office of the State Treasurer
agent Of the State Treasurer. ana sna
be so payable at the times specified
SAID resolution or resolutions.
All bonds issued under this articl
shall bear the fac-simile signature Q
the Governor and the fac-simile. counter
endorsed by the State Treasurer eithe
BY original signature or by signatur
stamp adopted for each particular bon
issued under this article and the bond
shall Re signed. countersigned and en-
dorsed by the officers who shall be ]
ONCE on the date OF issuance Thereof
and each Of said bonds shall bear a
impress Of the Great Seal OF the Stat
Of California. The bonds SO signet
countersigncd, endorsed and sealed
when sold. xhall be and constitute
valid, and binding obligation upon tn
State Of California. although the sal
which the officers having signed. coun
tersigned and endorsed said bonds.
any Or either of said ofiicers. shall hay
ceased to be the incumbents or IN
.o@cee held by them ct the TIME