Imperial Valley press., 1944-10-25

State, but the Treasurer must reject any
and all bids for said bonds. or for any OF
them. which shah be below the par value
|of said bonds 30 offered plus the interest
which has accrued thereon between the
date of sale and the last preceding inter
lest maturity date d. and with the approx
al OF the Governor. he may from time
Ito 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 all coupons which
have matured or will mature before the
day fixed for such sale.
990.8. Due notice OF the time and
place OF sale OF all bonds shall be given
by said Treasurer by publication In one
newspaper published In the City and
County OF San Francisco and also by
publication In one newspaper published
In the City Of Sacramento and by publ
|cation In one newspaper published In the
lCity OF Los Angeles once week during
-four weeks prior to such sale. In addi-
Ition 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
lof five hundred dollars t$500) for each
Isale so advertised. The proceeds Of the
sale of such bonds and such amount as
may have been paid as accrued interest
thereon shall be forthwith paid over by
lsaid 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
lhnnA, ha nSp6 the 6abf .
ated by the issuance and sale thereof.
9909 The Veterans Welfare Board
lis authorized. with the approval Of the
State Department of Finance, to invest
any surplus moneys In the Veterans
Farm and Home Building Fund of l943
in bonds of the United States, or Of the
State OF California. or Of the several
lcopnties 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.
part, Aent 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 a paid-up capital OF five hundred
Thousand dollars ($5OO.000) or more :
provided. that the total amount Of
money so deposited with any one bank
shall not exceed a 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 in
accordance with the provisions Of an
act entitled "An act to authorize and
control the deposlting In banks OF
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 IL, 1923. and of any and all
acts amendatory thereof or supplement
tai thereto. OF moneys OF any or the
funds subject to the control OF the Vete-
rams Welfare Board or appropriated for
Its use.
Interest accruing upon the deposit Of
moneys of the Veterans Farm and
Home Building Fund Of l943 shall be
paid into and credited to said fund.
991. There is hereby created Vete-
rams Finance Committee of 1943 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 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
1913
Upon request of the Veterans We'll
fare Board, supported by statement Of
the plans and projects of the Veterans
Welfare Board with respect thereto. the
Veterans Finance Committee OF l943
shall determine whether or not bond
issue under this article Is necessary or
ects into execution.
9gll Whenever the said Veterans
Finance Committee OF 1943 shall have
that bond issue under this
article liz necessary or desirable to carry
such plans and projects into execution.
IL shall adopt a resolution to this effect.
The said resolution shall authorize and
direct the State Treasurer to prepare the
requisite number OF suitable bonds and
shall specify
par value. and the date OF issuance or
the bonds to be issued.
2 The date OF dates of maturity Of
the bonds to be issued and the number
and numerical sequence Of the bonds
maturing at each date Of maturity.
3 The annual rate Of interest which
the bonds to be issued shall bear
4. The number. numerical sequence.
amount or amounts and the dates OF
maturity OF the interest coupons to be
attached to the said bonds.
8 The technical form and language
OF the bonds to be issued and OF the
interest coupons to be attached thereto
In determining the date or dates oil
maturity OF the said bonds and the
amount OF bonds maturing at each date
lof maturity, the Veterans Finance
Committee OF 1943 shall be guided by
the amounts and dates Of maturity OF
the revenues estimated to accrue to the
Veterans Welfare Board from the
transactions to be financed by each Is.
sue, and shall fix and determine said
dates and amounts In such manner that
together with the dates and amounts oi
interest payments on the said bond Is
sue. they shall coincide. as nearly as
practicable. with the dates and amounts
Of such estimated revenues: provided
that the bonds first to mature In each
issue. ehall mature not later than five