Imperial Valley press., 1944-09-20

state, Dut the treasurer H1uSt IeJeCt dhy
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 or
fered. to such time and place az he may
select Before Offering any Of said
bonds for sale the said Treasurer shall
detach therefrom all coupons which
have matured or will mature before the
day fixed for such sale.
990S Due notice OF the time and
place Of sale Of all bonds shall he given
by said Treasurer by publication In one
newspaper published in the City ana
County Of San Francisco and also by
publication in one newspaper pubiished
in the City of Sacramento and by publ
cation In one newspaper published In the
city Of Los Angeles once week during
four weeks prior to such sale. In addi.
tion 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 sun,
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 3 of this chapter. provided. that
the proceeds from the sale OF SAID
bonds may he used to pay the debt Gre
lated by the issuance and sale thereon.
99O.9 The Veterans Welfare Board
is authorized. with the approval OF the
State Department Of Finance, to invest
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
california. and TO sell such bonds. or
any % them. at the governing market
rates upon approval Of the state De,
lpartI cent of Finance or the Veterans
Welfare Board may, with the approval
of the Director OF Finance, invest
moneys In such fund. in interest bearing
certificates Of deposit Of State banks
ha wing a paiG-up capital of five hundred
thousand dollars ts500.000D or more
provided, that the total amount OF
money so deposited with any one bank
shall not exceed sum equal to so per
cent of the paid-up capital of such bank
provided. however, that nothing herein
contained shall inhibit or be construed
to inhibit the depositing In banks ir
accordance with the provisions OF ar
act entitled AN act to authorize and
control the depositing In banks ol
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 10. 1928. and Of any and al
lacts amendatory thereof or supplement
tai thereto. Of moneys OF any OF the
funds subject to the control of the Vete
Trans Welfare Board or appropriated FOL
its use.
interest accruing upon the deposit Ot
moneys Of the Veterans Farm ant
Home Building Fund Of lg43 shall b.
paid into and credited to said fund
Il 99I There Is hereby created Vete
rams Finance Committee of l943 com
} posed Of the Governor. State Controller
State Treasurer. Director OF Finance
land chairman of the Veterans W.lfar'
Board. all Of whom shall serve Thereon
without compensation and majorit!
of whom shall be empowered to act To-
/, said committee The Attorney Genera
of the State shall be the legal advise
! l943.
/, Upon request of the Veterans Wei
. fare Board. supported by statement
the plans and projects of the Veterans
, Welfare Board with respect thereto. IN
Veterans Finance Committee OF l94
/. sha II determine whether or not Don
} tissue under this article IL necessary o
7 desirable to carry such plans and pro]
ects into execution
. 9gl l. Whenever the said Veterans
Finance Committee Of l943 shall hav
! determined that a bond issue under TN
I article is necessary OF desirable TO carr
such plans and projects into executor
lit shall adopt a resolution TO this eHec
J The said resolution shall authorize an
direct the State Treasurer to prepare IN
requisite number Of suitable bonds an
Z shall specify
Z The aggregate number. aggregat
Y par value, and the date of issuance q
. the bonds to be issued.
2 The date or dates OF maturity Z
D the bonds to be issued and the nuii1Dt
e and numerical sequence OF the Doho
. maturing at each date Of maturity.
ell The annual rate OF interest WnIc
$ the bonds to be issued shall bear
e 4 The number, numerical seuuenc
c amount or amounts and the dates :
maturity of the interest coupons 10 l.
= attached I, the said bones.
i 8 TIE technical form ana IahGuae
f Of the bonds to be issued and of IN
o interest coupons to be attached thefet
d In ,,etermlnin, the date or Gates
d maturity Of tbs said bonds ana u
r amount Of bonds maturing al esch v
o Of maturity. the Veterans fihan'
y Committee Uf 1943 shall be guided u
e the amounts and dates of maturity
Is the revenues estimated to accrue 10 u
Veterans Welfare Board from u
q transactions to be financed by each D
e sue, and shall fix and determine sa
e dates and amounts In such manner tina
e together with the dates and amounts
IS interest payments on the said bond 4
u sue. they shall coincide, as nearly
=, practicable, with the dates and amour
n IOf such estimated revenues; provide
u that the bonds first to mature In eat
d issue. shall mature not later than n
n lvears frnY, tha a "a of issuance Thereof