Imperial Valley press., 1944-09-20
PROPOSED LAW.
CHAPTER 58S

An act 70 add Article 4, comprising
Sections $50 TO- 1919 inclusive. to
Chapter 6 Of Division 4 OF the Military
and Veterans Code. authorizing the
creation Of q 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 homo aid for veterans in
accordance with the provisions OF the
Veterans Farm and Home Purchase
Act Of io43; creating a Veterans
Finance Committee Of 1913; defining
the powers and duties Of said com.
n1ittee 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. iiab'.
ity or liabilities, as such principal
natures: sppropriatinc money for
the expense OF preparing and OF ad.
vertisinQ 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
election to be held in the month Of
November. 1914.
(Approved by Governor May IL. 1913.
Filed with Secretary Of State
May Is. 1913 J
The people Of the State OF California
do enact as follows:
SECTION Article 4. comprising Sec.
tions $50 to 99l 3, inclusive. Is added
to Chapter s Of Division 4 Of the Mill
tary and Veterans Code. to read
Article 4 Veterans Bond Act Of l9a3
$50 This article may be cited as the
Veterans Bond Act Of 1913
1901 For the purpose OF creating
a fund to provide farm and home aid
for veterans in accordance with the
provisions Of the Veterans Farm and
Home Purchase Act Of 1913 and Of all
acts amendatory thereof or supple
mental thereto. the Veterans Finance
Committee Of l943 created by this art.
Gle shall be and 1t hereby Is authorized
and empowered to create debt or
debts. liability or liabilities. Of the
State OF California. in the manner and
to the extent hereinafter provided, but
not otherwise, nor In excess thereof
1902 After the issuance OF the
proclamation Of the Governor annOunc.
Ing the ratification of this article. and
Immediately after adoption Of any reso.
luton by the Veterans Finance Com.
mittee OF 1913 hereby created. provided
for In Section 99l |. the State Treas
urer shall prepare the requisite number
Of suitable bonds of the denomination Of
one thousand dollars t$l .000D in ac-
cordance with the specificatio con-
tained in such resolution The aggre.
gate par value OF all bonds issued under
this article shall not exceed the sum
Of thirty million dollars $3.50. .O0O.OOOl
and the bonds issued under any such
resolution shall bear interest from the
date OF issuance Of said bonds to the
date Of maturity thereof at a rate to
be determined by the said Veterans
Finance Committee Of l943 and speci-
fled in such resolution. but In no case
exceeding per cent per annum. Bot,
principal and interest shall be payable
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 shall
be so payable at the times specif1ed ir
saiu resolution or resolutions
All bonds issued under this article
shall bear the facsimile signature OF
the Governor and the facsimile counter
signature OF the Controller and shall bt
endorsed by the State Treasurer either
by original signature or by signature
stamp adopted for each particular bono
issued under this article and the bonds
shall re signed, countersigned and en-
dorsed by the officers who shall be "
office on the date OF issuance thereof
and each Of said bonds shall bear ar
Impress Of the Great Seal Of the State
Of California. The bonds 80 signed
countersigned, endorsed and sealed
when sold. shall be and constitute q
valid and binding obligation upon tht
State Of California. although the salt
thereof be made at a date or dates upor
which the officers having signed. coun
tersigned and endorsed said bonds. ol
any Or either Of said officers. shall have
ceased to be the incumbents OF tn.
onces held by them at the time o.