Imperial Valley press., 1944-10-25
PROPOSED Law
cHApTER sas

An act to add Article 4, comprising
Sections $50 to e91.3 inclusive, to
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 fund to provide
farm and home aid for veterans in
Veterans Farm and Home Purchase
Act Of is43; creating a Veterans
Finance Committee Of 1913; defining
the powers and duties Of said COM
nittee and Of the Veterans Welfare
Board and other State officers in
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
ity or liabilities, as such principal
natures; appropriatino money for
the expense Of preparing and OF ad.
vertisino 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.
fApproved by Governor May IS. 1913.
lieu Will sotCfctd1S VI OtdtS
May Is. l943
The people Of the State Of California
do enact as follows:
SECTION Article 4. comprising Sec.
tions $50 to 1913. inclusive. is added
to Chapter s Of Division OF the Mill.
tary and Veterans Code. to read
Article 4 Veterans Bond Act OF 1913
$50 This article may be cited as the
Veterans Bond Act OF l943
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 l943. and of all
acts amendatory thereof or supple
Committee OF ly43 created by this arti-
Gle shall be and 1t hereby Is authorized
and empowered to create a debt or
debts. liability or liabilities. of the
State Of California. I'm the manner and
to the extent hereinafter provided, but
not otherwise nor in excess thereof
990.2 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 l943 hereby created. provided
urer shall prepare the requisite number
Of suitable bonds of the denomination Of
one thousand dollars t$1 1,000) in &C.
cordance with the specifications 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 t$30.00O.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 rate to
be determined by the said Veterans
Finance Committee Of l943 and speci-
fed In SUCH resolution. but In no case
exceeding'5 per cent per annum. Botn
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 specified In
SAID resolution or resolutions;
All bonds issued under this article
shall bear the fac-simile signature OF
the Governor and the fac-simile counter
signature Of the Controller and shall be
endorsed by the State Treasurer either
by original signature or by a signature
stamp adopted for each particular bond
issued under this article and the bonds
dorsed by the officers who shall be IN
Office on the date OF issuance thereof.
and each Of said bonds shall bear an
Impress Of the Great Seal of the State
OF California. The bonds 30 signed.
countersigned. endorsed and sealed
when sold, ehall be and constitute. a.
valid and binding obligation upon the
thereof be made at a date or dates upon
which the officers having signed. coun-
tersigned and endorsed said bonds. or
any Or either Of said officers. shall have
ceased to, be the iHcumbents OF the
Offices hel9 by thsp u 0S time Of