Imperial Valley press., 1944-09-27

State, but the treasurer must REJECT any
and all bids for said bonds. or for any or
them, which shall be below the par value
OF said bonds 80 offered plus the interest
which has accrued thereon between the
date of sale and the last preceding inter-
est maturity date and with the APPROX
al OF the Governor. he may from time
to 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 an 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.
J9O.S. 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 ana
County Of San Francisco and also by
publication In one newspaper published
in the City Of Sacramento and ny publ
cation In one newspaper published In the
city Of Los Angeles once week during
four weeks prior to such sale. In add1. :.
ton 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-
Iditional notice shall not exceed the sum
Iof FIVE hundred dollars t$500) for each
sale so advertised. The proceeds OF the
sale Of such bonds and such amount as
may have been paid as accrued interest
thereon shall lie forthwith paid over by
said Treasurer into the Veterans Farm
land Home Building Fund OF l943 and
must be used exclusively in aiding vete-
lrans 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
Iated by the issuance and sale thereon.
99O9 The Veterans Welfare Board
! is authorized. with the approval OF the
state Department of Finance, to invest
Farm and Home Building Fund of l943
| in bonds Of the United States. or of the
State OF California. or Of the several
counties or municipalities or other
political subdivisions OF the State oil
lCalfornia and to sell such bonds. or
any % them. at the governing inarke'
rates upon approval OF the state De-
part Aent Of Finance or the veterans
Welfare Board may, with the approval
of tie Director OF Finance. lnVeSi
moneys In such fund, In interest-bearing
certificates OF deposit of State banks
Thousand dollars tS500,000) or more
provided, that the total amount OF
money so deposited with any one bank
shall not exceed sum equal to 90 pei
cent OF the paid-up capital Of such bank
lprovided, however, that nothing hereif
contained shall inhibtt or be construed
to inhibit the depoSiting In banks II
accordance with the provisions OF al
act entitled AN act to authorize ano
lcOntrOl the depositing In banks ol
moneys belonging to or in the custody ol
1.-THE state and to repeal all acts or parts
of acts conflicting with this act, ap
lprOved April l2, 1928, and OF any ana al
lacts am.ndatory thereof or supplement
ltal thereto. of moneys OF any or I'M
funds subject to the control or the Vete
'IranS' Welfare Board or appropriated fol
Its use.
moneys Of the Veterans Farm ant
Home Building Fund of l943 shall b'
paid into and credited to said fund.
II 9gI There Is hereby created Vete
rams Finance Committee OF l943 com
posed Of the Governor. State Controller
State Treasurer, Director OF Finance
land chairman Of the Veterans W .lfar'
Board, all OF whom shall serve thereon
without compensation and ma1orlt,
of whom shall be empowered to act TO
, said committee The Attorney Genera
Of the State shall be the legal advise
! of the Veterans Finance Committee
l9i3
Upon request Of the Veterans Wei
. fare Board. supported by a statement q
the plans and projects of the Veterans
, Welfare Board with respect thereto. IN
Veterans Finance Committee OF l3f
Z shall determine whether or not Don
. Tissue under this article IL necessary U
Y desirable to carry such plans and pro-
p lects into execution.
9gI1 Whenever the said Veteran!
Finance Committee OF 1913 shall nav
determined that q bond issue under I'M
I article is necessary or deslrapie 10 eaii
: such plans and projects into execution
Ia shall adopt a resolution to this eHec
. The said resolution shall authorize an
70 direct the State Treasurer To prepare III
T. REQUISITE number OF suitable DOnds al
e shall specify .,
y par value, and the date OF Issuance
D.. the bonds to be issued.
= 9 The date or dates or maturity I
o the bonds to be issued and the nuhip'
e and numerical sequence OF the Doh'
j. maturing at each date Of maturity.
e The annual rate OF interes, "his
3 the bonds to be issued shal bear
e A. The number, numerical seuuehc
G Iamount or amounts and the Gates
maturity Of the interest coupons 10
J. attached to the said bonds.
> 6 The technical form and i.nSuas
e of the bonds to be Issued anu Vi I,
o Interest coupons to be attached theret
d In determining the date or CAFES
d maturity Of tbs said bonds ana u
Ir lamount Of bonds maturing AT each J.
Oluf maturity. the Veterans f1han
y ylCommittee II l043 shall be guided
e the amounts and datea Of maturity
's the revenues estimated to accrue 10 y
Veterans Welfare Board from |!
10 transactions to be financed by each
20 lsue. and shall fix and determine "a
te dates and amounts In such manner taf
le together with the dates and amounts
Is Interest payments on the said bond
II sue, they shall coincide. as nearly
G, Ipracticabie, with the dates and amoun
m Of such estimated revenues; provide
m that tho bonds first to mature In ca
d Issue. fhall mature not later than n