Imperial Valley press., 1944-08-09
PROPOSED LAW
CHAPT Err 5ss

of Article XVI Of the Constitution)
PROPOSED LAW
CHAPTER sss
An act TO add Article 4, comprising
Sections 900 TO eet.3 inclusive, to
Chapter 6 OF Division I Of the Military
and Veterans Code, authorizing the
creation Of a debt or debts, liability
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 ie43; creating a Veterans
Finance Committee OF 1913; defining
the powers and duties Of said com
n,ittee and OF the Veterans Welfare
Board and other State officers in
resbect 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
the payment and discharge Of the
principal Of such debt or debts, iiabiI.
ity or liabilities, as such principal
natures; sppropriatine money fo'
the expense OF preparing and OF ao
vertisina the sale Of bonds hereir
ing for the submission Of this act tc
vote Of the people at the genera
election TO be held in the month Of
November. 1914.
fApproved by Governor May -. 1913
Filed with Secretary Of State
May 1s, 1943
The people Of the state Of California
do enact as follows:
SECTION Article 4, comprising Sec.
ticns $50 to 99l 3, inclusive, lie added
to Chapter of Division 4 of the Mill
tary and Veterans Code, to read
Article 4 Veterans Bond Act Of 1874;
$50 This article may BE- cited as tht
Veterans Bond Act of 1913
$50 For the purpose of creating
fund TO provide farm and home aio
for veterans in accordance with the
provisions of the Veterans Farm ant
Home Purchase Act OF I943, and OF al
acts amendatory thereof or supple
mental thereto. the Veterans Finance
Committee Of l943 created by this arti
Gle shall be and II hereby Is authorized
and empowered to create debt oi
debts. liability or liabilities. OF the
State of California In the manner and
TO the extent hereinafter provided, bu
not otherwise. nor In excess thereof.
9902 After the issuance Of th'
ing the ratification Of this article. ant
Immediately after adoption Of any reso
luton by the Veterans Finance Com
mittee of I943 hereby created, provided
for In Section 99l |. the State Treas
urer shall prepare the requisite number
Of suitable bonds Of the denominat ton o
one thousand dollars $1,000 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 t&30,000.O00 }
and the bonds issued under any sucl
resolution shall bear interest from tn
date Of maturity thereof, at a rate 4
be determined by the said Veterans
Finance Committee Of 1943 and speci
fed in such resolution, but In no cas-
exceeding 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 authorize.
agent of the State Treasurer. and shal
be so 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 a 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 j
ONCE on the date OF Issuance thereof
and each of said bonds shall bear O.
impress Of the Great Seal OF the Stat
Of California. The bonds 30 signed
countersigned, endorsed and sealed
when sold. shall be and constitute.
valid and binding obligation upon tn
State Of California. although the sal
which the officers having signed. coun
tersigned and endorsed said bonds.
any or either OF said officers. shall hay
ceased to be the incumbents OF tn
omces held by them at the time