Imperial Valley press., 1944-10-18
No. 90 Of q Series

State, but the Treasurer must reject any
and all bids for said bonds. or for any Of
them, which shall be below the par value
of 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 approv-
al of the Governor. he may from time
to time. by public announcement at the
place and time fixed for the sale. con-
tinue such sale. as to the whole of the
bonds offered. or any part thereof Of
fered, to such time and place as he may
select Before offering any of said
bonds for sale the said Treasurer shall
detach therefrom ell coupons which
have matured or Will mature before the
day fixed for such sale.
9gOS Due notice OF the time and
place Of sale of all bonds shall be given
by said Treasurer by publication In one
published in the City and
County of San Francisco and also by
publica ton In one newspaper published
in the City of Sacramento and by publ
cation in one newspaper published in the
city Of Los Angeles once a week during
-four weeks prior to such sale In addi-
ton to the notice last above provided
for. 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 t$500) for each
sale so advertised. The proceeds Of the
sale of such bonds and such amount AS
may have been PAID as accrued interest
thereon shall he forthwith paid over by
said Treasurer into the Veterans Farm
and Home Building Fund Of l943 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
Article Of this chapter provided. that
the proceeds from the sale of said
bonds may he used to pay the debt Gre
ated by the issuance and sale thereof.
9909 The Veterans Welfare Board
Is authorized. with the approval of the
State Department of Finance, TO lnves,
any surplus moneys In the Veterans
Farm and Home Building Fund of 1913
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
lCaIifornia, and to sell such bonds. or
any Of them. at the governing market
rates upon approval of the state De-
parti cent Of Finance or the Veterans
Welfare Board may. with the approval
Iof the Director OF Finance, invest
moneys In such fund. In interest bearing
certificates of deposit Of State banks
having paid-up capital Of five hundred
thousand dollars tS500.000) or more .
provided, that the total amount of
money so deposited with any one bank
lshalI not exceed a sum equal To 50 per
cent of the paid-up capital of such bank .
provided. however. that nothing herein
contained shall inhibit OF be construed
to inhibit the deposting In banks In
accordance with the provisions OF an
act entitled An act to authorize and
control the depositing In banks OF
moneys belonging to or in the custody Of
1.-THE state and to repeal all acts or parts
of acts conflicting with this act. ap:
proved April IL. 1928. and of any ard all
lacts amendatory thereof or supplement
ItaI thereto. of moneys OF any of the
funds subject to the control OF the Vete-
lrans' Welfare Board or appropriated for
Its use.
Interest accrulng upon the deposit of
moneys OF the VeteranS' Farm and
Home Building Fund Of 1913 shall he
Ipaid into and credited to said fund
99l There is hereby created Veto
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 a 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 OF
ll943
Upon request of the Veterans Wei
fare Board. supported by statement OF
the plans and projects OF the Veterans
Welfare Board with respect thereto. the
Veterans Finance Committee of l943
sha II determine whether or not bond
tissue under this article is necessary or
desirable to carry sucn plans and prof.
lectS into execution.
| 991 J. Wherever the SAID Veterans
Finance Committee Of l943 shall hav,
determined that bond issue under this
article In necessary or desirable to carry
such plans and projects into execution
III shall adopt resolution to this effect
IThe said resolution shall authorize ano
direct the State Treasurer to prepare the
requisite number of suitable bonds and
shall specify
i The aggregate number. aggregate
par value, and the date of issuance ol
the bonds to be issued.
2 The date or dates OF maturity O
the bonds to be issued and the number
land numerical sequence OF the bond'
maturing at each date of maturity,
i 3 The annual rate Of interest whicf
the bonds to be issued shall bear
i 4. The number. numerical sequence
amount or amounts and the dates %
maturity OF the interest coupons to "
attached 10 the said bonds.
| The technical form and language
LOT the bonds to be issued and OF IN
, Interest coupons to be attached thereto
In determining the date or dates o
maturity Of tho said bonds and IN
lamount OF bonds maturing at each ~
of maturity. the Veterans F'inanc
COMMITTEE Uf l943 shall be guided b.
, ths amounts and dates Of maturity o
; the revenues estimated to accrue TO N
Veterans Welfare Board from IN
/, transactions to be financed by each Is
, lsue. and shall fix and determine sal
B dates and amounts In such manner thai
, together with the dates and amounts o
J Interest payments on the said bond Is
sue. they shall coincide. as nearly a
practicable, with the dates and amount
! of such estimated revenues; provided
! THAT the bonds first to mature in eac
issue. shall mature not later than fv
. slyeaTs from the date Of issuance thereof