Imperial Valley press., 1944-08-02
PROPOSED LAW
CHAPT e r 59S

An act to add Article 4, comprising
Sections $50 to es1.3 inclusive. to
Chapter 8 Of Division 4 Of the Military
and Veterans Code. authorizing the
creation Of . debt or debts. liability
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
Act Of ts43; creating a Veterans
Finance Committee Of 1913; defining
the powers and duties Of said com I.
n,ittee and Of the Veterans Welfare
Board and other State officers 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, i,abil.
ity or liabilities. as such principal
natures; appropriating money for
the expense OF preparing and OF ad'
vertisinp the sale OF bonds herein
authorized to be issued; and provid
ing for the submission OF this act to
a vote OF the people at the general
election to be held in the month of
November. 1874.
fApproved by Governor May IL. 1913
Filed with Secretary of State
May 49, l9f3
The people Of the State Of California
do enact as follows:
SECTION ! Article 4. comprising Sec
tions $50 to y9l 3, inclusive. 10 added
to Chapter s Of Division 4 Of the Mill
tary and Veterans Code. to read
Article Veterans Bond Act Of 1874;
800 This articl. may be cited as the
Veterans Bond Act Of lyi3
$50 For the purpose OF creating
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 al
acts amendatory thereof or supple
mental thereto, the Veterans Finance
Committee of ly43 created BY this arti'
Gle shall be and IL hereby Is authorlzet
and empowered TO create a debt oI
debts, liability or Liabilities. of tht
State of California. in the manner ant
to the extent hereinafter provided, bu
not otherwise. nor In excess thereof.
1902 After the issuance Of tn,
proclamation Of the Governor annOunc
ing the ratification Of this article. anc
Immediately after adoption Of any res0
luton by the Veterans Finance Com
mittee Of 1913 hereby created. provided
III stCtIOD JJI !. 'ut Dldtt
urer shall prepare the requisite number
Of suitable bonds Of the denomination %
one thousand dollars tSl .000J 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 1890, 900 900 }
and the bonds issued under any suci
resolution shall bear interest from tn
dat. Of issuance Of said bonds to tn
date Of maturity thereof. at rate 4
be determined by the said Veterans
Finance Committee Of l943 and speci
fed In such resolution. but In no cas-
exceeding S 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 authorized
agent Of the State Treasurer. and shal
be 30 payable at the times specified II
said resolution or resolutions.
All bonds issued under this articl
shall bear the facsimile signature o
the Governor and the facsimile counter
signature OF the Controller and shall b.
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 be signed. countersigned and en-
dorsed by the officers who shall be d
and each Of said bonds shall bear al
impress Of the Great Seal Of the Stat
of California. The bonds so signed
countersigned, endorsed and sealed
when sold. shall be and constitute
valid and binding obligation upon tn
State OF California. although the sal
thereof be made at a date or dates upol
which the officers having signed. coun
tersigned and endorsed said bonds.
any or either Of said officers. shall hav
ceased 10 be the incumbents Of tn
offlces held by them at the time o