Imperial Valley press., 1944-08-23

State, but the Treasurer must reject any
md all bids for said bonds or for any Of
them. which shah be below the par value
OF said bonds so offered plus the interest
date Of sale and the last preceding inter-
lest maturity date . and with the APPROX
|al of the Governor. ne may from time
Ito time. by public announcement at the
place and time fixed for the sale. con-
tinue such sale. as to the whole of the
|fered. to such time and place as he may
Iselect Before offering any of said
bonds for sale the said Treasurer shall
detach therefrom all coupons which
have matured or will mature before the
lday fixed for such sale.
990.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 and
County of San Francisco and also by
publication in one newspaper published
in the City Of Sacramento and by publi-
lcation in one newspaper published In the
city of Los Angeles once week during
flour weeks prior to such sale. In addi-
ltion to the notice last above provided
flor. the State Treasurer may give such
| further notice as he may deem adVtSa-
ble but the expense and cost OF such ad-
ditional notice shall not exceed the sum
Of FIVE hundred dollars ts500) 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 he forthwith paid over by
said Treasurer into the Veterans Farm
and Home Building Fund of l943 and
lmust be used exclusively In aiding vete-
rams in the acquisition of. or payments
flor, farms and homes. in accordance
with the provisions of this article and
Article of this chapter provided. that
the proceeds from the sale of said
bonds may be used to pay the debt Gre
lated by the issuance and sale thereof.
99O9 The Veterans Welfare Board
is authorized. with the approval of the
State Department of Finance, to invest
any surplus moneys in the Veterans
Farm and Home Building Fund of l943
in bonds of the United States. or of the
State of California. or OF the several
lcounties or municipalities or other
lpolitical subdivisions of the State OF
california, and to sell such bonds. or
any o. them. at the governing market
rates upon approval of the State De-
partl cent of Finance or the Veterans
Welfare Board may. with the approval
| of the Director Of Finance, invest
moneys in such fund. In interest-bearins
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
shall not exceed sum equal to so per
lcenI Oh the pdIu-up Cdpitdi vi suCsi
provided. however, that nothing herein
contained shall inhibit or be construed
to inhibit the depositing In banks In
accordance with the provisions OF an
act entitled "An act to authorize and
control the depositing in banks OF
moneys belonging to or in the custody of
the State and to repeal all acts or parts
of acts conflicting with this act" ap.
lproved April 12, 1928, and of any and all
acts amendatory thereof or supplement
ltal thereto, OF moneys OF any OF the
funds subject to the control of the Vete-
lrans' Welfare Board Or appropriated for
its use.
interest accruing upon the deposit OF
moneys of the Veterans Farm and
Home Building Fund of l943 shall be
lpaid into and credited to said fund.
99l. 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 Welfare
Board, all of whom shall serve thereon
without compensation and majority
lof whom shall be empowered to act fol-
said committee The Attorney Genera
OF the State shall be the legal adviser
of the Veterans Finance Committee OF
ll943
Upon request of the Veterans Wei
fare Board. supported by statement oI
1.-THE plans apd projects OF the Veterans
Il Welfare Board with respect thereto. the
Veterans Finance Committee of 1874:
, shall determine whether or not IA bono
Issue under this article is necessary ol
; desirable to carry such plans and prof
: ects into execution.
99l1, Whenever the said Veterans
Finance Committee Of l943 shall have
determined that a bond issue under thi!
larticle Is necessary or desirable To carry
such plans and projects into execution
~ shall adopt a resolution to this effect
fysls "A ha N q
direct the State Treasurer to prepare th'
requisite number Of suitable bonds ant
. shall specify
!, The aggregate number. aggregate
: par value, and the date of Issuance o
the bonds to be issued
!, the bonds to be issued and the nunibe
; and numerical sequence or the bond
maturing at each date of maturity.
!. 3 The annual rate Of interest whicl
3 1.-The bonds to be issued shall bear
: 4. The number. numerical SEQUENCE
. Iamount or amounts and the dates q
maturity OF the interest coupons to b.
ATTACHED to the said bonds.
: 6 The technical form and language
, of the bonds to be issued and of th
} Interest coupons to be attached thereto
In determining the date or dates o
maturity Of the said bonds and tn
r |amount of bonds maturing at each dat
} lOf maturity, the Veterans Financ
, Committee of 1943 shall be guided b.
, the amounts and dates Of maturity o
5 the revenues estimated to accrue to tn
Veterans Welfare Board from tn
, transactions to be financed by each Is
. lsue. and shall fix and determine sal
3 dates and amounts In such manner that
. together with the dates and amounts o
3 Interest payments on the said bond Is
] lsue. they shall coincide. a3 nearly q
/, practicable, with the dates and amount
! lOf such estimated revenues: provided
! THAT the bonds first to mature In eac
] issue, shall mature not later than fiv