Imperial Valley press., 1944-08-09

lState, but the Treasurer must reject any
and all bids for said bonds. or for any Of
them. which shall be below the par value
of said bonds so offered plus the interest
date of sale and the last preceding inter-
est maturity date 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
|tlnue such sale. as to the whole of the
bonds offered. or my 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.
a9O.S Due notice Of the time and
|place OF sale OF all bonds shall he 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 punished IN me
city Of Los Angeles once week during
-four weeks prior to such sale In add.
ltion 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
Iof Ave hundred dollars t$500) for each
sale so advertised The proceeds OF the
sale of such bonds and such amount AS
Imay have been paid as accrued interest
thereon shall he forthwith paid over by
said Treasurer into the Veterans Farm,
and Home Building Fund Of 1919 and
must he 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 3 of this chapter provided. that
the proceeds from the sale of said
bonds may be used to pay the debt Gre
ated by the issuance and sale thereof.
9909 The Veterans Welfare Board
lis authorized, with the approval OF tbs
State Department of Finance, to invest
lany surplus moneys In the Veterans
Farm and Home Building Fund OF 1942
/ in bonds Of the United States, or of the
lState of California. or of the severa
political subdivisions of the State OF
lCalifornia. and to sell such bonds. o,
any Of them, at the governing market
rates. upon approval of the state De-
lpartment of Finance or the Veterans
Welfare Board may, with the approFa
moneys In such fund, in interest bearing
certificates of deposit of State banks
having paid-up capital Of FIVE hundred
Thousand dollars ($500,000) or more
provided, that the total amount OF
money so deposited with any one bank
cent of the paid-up capital Of such bank
provided. however, that nothing hereir
contained shall inhibit or be construed
to inhihit the depositing In banks tr
accordance with the provisions Of ar
act entitled An act to authorize and
control the depositing In banks ol
moneys belonging to or in the custody oi
the State and tArepeal all acts or parts
Iof acts conflicting with this act" ap
lproved April l2, 1928, and Of any and al
acts amendatory thereof or supplement
tai thereto. of moneys Of any OF th'
funds subject to the control of the Vete
Trans Welfare Board or appropriated fol
Its use
| Interest accruins upon the deposit o
moneys Of the Veterans Farm ant
Home Building Fund Of 1913 shall b'
Ipaid into and credited to said fund.
j 991 There Is hereby created a Vete
rams Finance Committee of 1943 com
posed Of the Governor, State Controller
State Treasurer Director Of Finance
ana chairman of the Veterans Welfar'
Board. all OF whom shall serve Thereon
without compensation and ma)orit.
Iof whom shall be empowered to act TO
said committee The Attorney Genera
of the Veterans Finance Committee
Ill943
Upon request Of the Veterans Wei
flare Board. supported by statement
the plans and projects of the Veterans
Welfare Board with respect thereto, IN
Veterans Finance Committee of 1874
,lshall determine whether or not bon
tissue under this article is necessary o
desirable to carry such plans and proJ
: lects into execution.
9911 Whenever the said Veterans
FINANCE Committee Of 1943 shall nav
determined that bond issue under tn,
larticle Ia necessary OF desirable to carr
lsuch plans and projects into execution
liz shall adopt resolution to this erec'
1.-The said resolution shall authorize an
ldirect the State Treasurer to prepare TN
requisite number OF suitable bonds an
|, shall specify
i | The aggregate number. aggregat
: lpar value, and the date OF issuance
the bonds to be issued.
/. 2 The date or dates Of maturity Z
)lthe bonds to be issued ana the n!inlDe
; and numerical sequence OF the BOND
, 3 The annual rate of interest whic
5 1.-The bonds to be issued shall bear
d T. The number. numerical seuuenc'
, lamount or amounts and the dates {
maturity of the interest coupons to
Iattachcd to the said bonds.
6 The technical form and languass
, Interest coupons to be attached theret'
In determining the date or dates {
maturity OF the said bonds and tn
! amount Of bonds maturing at .ach da'
, Of maturity, the Veterans Finant
Y glConmittee OF 1943 shall be guided b
E THE amounts and dates Of maturity {
; 1.-THE revenues estimated to accrue to II
Veterans Welfare Board from II
D otransactions to be financed by each y
e sue, and shall fix and determine sal
e dates and amounts I'm such manner tina
E together with the dates and amounts {
8 interest payments on the said bond II
] sue. they shall coincide. as nearly 9
. practicable, with the dates and amount
q Of such estimated revenues; provides
D that the bonds first to mature In eaC
i issue, shall mature not later than ny
eIyears from tho date Of issuance thereof