Imperial Valley press., 1944-08-16
PROPOSED Law
CHAPTE Err 585

An act to add Article 4, comprising
Sections $50 to e91.3 inclusive, to
+ Chapter 6 Of Division 4 Of the Military
and Veterans Code. authorizing the
creation Of a debt or debts, liability
or liabilities, through the issuance
and sale Of State bonds. for the single
object Of creating a fund to provioe
farm and home aid for veterans IN
accordance with the provisions OF the
Veterans Farm and Home Purchase
Act Of 1s43; creating a Veterans
Finance Committee Of ts43; defining
the powers and duties OF said COM
mittee 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 iiabilities, as
such interest falls due, and also TOR
the payment and discharge OF the
principal Of such debt or debts, lIann, /,
ity or liabilities, as such principal
natures; appropriatins money Tor
the expense of preparing and OF ad.
vertisng the sale OF bonds here,n
authorized to be issued; and provid !.
ina for the submission OF this act 70
a vote OF the people at the general
election to be held in the month OF
November. 1914.
fApproved by Governor May IS. 1943
Filed with Secretary of State
May IS. 1943 ]
The people Of the State Of California
do enact as follows:
SECTION Article 4, comprising Sec.
tiOns $50 to 99l.3, inclusive, is addec
to Chapter of Division of the Mill
tary and Veterans Code. TO read
Article Veterans Bond Act OF l94'
$50 This article may be cited as the
Veterans Bond Act Of l943.
990.1 For the purpose OF creating
q fund to provide farm and nome aic
for veterans in accordance with tht
provisions Of the Veterans Farm anc
Home Purchase Act Of l943. and or al
acts amendatory' thereof or supple
mental thereto, the Veterans Finance
Committee of l943 created by this arti
Gle shall be and II hereby is authorized
and empowered to create debt oi
debts, liability or liabilities. OF th'
State of California, In the manner ant
to the extent hereinafter provided. bu
not otherwise, nor in excess thereof.
9902 After the issuance OF tn
proclamation of the Governor announc
ing the ratification of this article. ant
Immediately after adoption OF any reso
luton by the Veterans Finance Com
mittee OF 1943 hereby created. provided
for In Section 99l |. the State Treas
urer shall prepare the requisite numbe
Of suitable bonds of the denomination o
one thousand dollars t$l .OOO) in &C
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.O0O.OOOl
and the bonds issued under any sue
resolution shall bear interest from tn
dat. OF issuance OF said bonds TO IN
date of maturity thereof, at a rate
be determined by the said Veteran,
Finance Committee of 1943 and speci
fled In such resolution, but In no cas-
exceeding 6 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 sha
be SO payable at the times specified l
said resolution or resolutions.
All bonds issued under this articl
shall bear the facsimile signature
the Governor and the facsimile counter
signature of the Controller and shall o
endorsed by the State Treasurer eithe
by original signature or by slgnatuT
stamp adopted for each particular bon
issued under this article and the bond
shall be signed. countersigned and eI
dorsed by THE officers who shall be
office on the date of issuance thereo
and each of said bonds shall bear a
impress or the Great Seal OF the Stat
of California. The bonds so slgne'
countersigned, endorsed and seale'
when sold, shall be and constitute
valid and binding obligation upon u
State OF California. although the sa
thereof be made at date or dates upo
which the officers having signed. cour
tersigned and endorsed said bonds.
any or either OF said officers. shall hay
ceased to be the incumbents OF u
Offices held by them at the ttms