Imperial Valley press., 1944-09-06

State. 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 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 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.
990S. 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 publ
Ication In one newspaper published In the
city OF Los Angeles once week during
-four weeks prior to such sale. In addi-
|tion to the notice last above provided
for, the State Treasurer may give such
further notice as he may deem adVisa-
bic, but the expense and cost OF such ad.
ditional notice shall not exceed the sum
of ave hundred dollars t$500) for each
lsale 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
lsaid Treasurer into the Veterans Farm
and Home Building Fund OF l943 and
must be used exclusively In aiding vete-
lranS i'm the acquisition of. or payments
for, farms and homes, In accordance
with the provisions OF this article and
Article 3 az 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 thereof.
9909 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
counties or municipalities or other
political subdivisions OF the state or
california. and to sell such bonds. or
Iany % them. at the governing market
rates upon approval OF the state De-
part 4ent Of Finance, or the Veterans
Welfare Board may, with the approval
Of the Director OF Finance. invest
moneys in such fund. In interest bearing
certificates Of deposit of State banks
having paid-up capital OF five hundred
Thousand dollars tS500.O00) or more !,
provided, that the total amount of
money so deposited with any one bank
shall not exceed sum equal to so per
cent Of the paid-up capital OF such bank /.
provided, however, that nothing herein
contained shall inhibit or be construed
to inhibit the deposting 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..
proved April IL. 10 90. and of any and all
acts amendatory thereof or supplement
Ital thereto. Of moneys OF any ofsthe
funds subject to the control of the Vete-
rams Welfare Board or appropriated Tor
Hts use
interest accruing upon the deposit of
moneys of the Veterans Farm and
Home Building Fund of l943 shall be
paid into and credited to said fund.
99l There is hereby created Vete-
rams Finance Committee of l343 com
posed OF the Governor. State Controller
State Treasurer. Director Of Finance
and chairman OF the Veterans Welfare
Board. all OF whom shall serve thereon
without compensation and majority
lOf whom shall be empowered to act foi
said committee The ATTORNEY Genera
Iof the State shall be the legal adviser
of the Veterans Finance Committee oi
lI943
Upon request Of the Veterans Wei
fare Board. supported by statement ol
the plans and projects OF the Veterans
Veterans Finance Committee of 194.
shall determine whether or not bont
lissue under this article Is necessary VI
desirable to carry such plans and proJ
lects into execution.
/ yyI1 Whenever the said Veterans
Finance Committee OF l943 shall hav'
determined that a bond issue under thu
larticle is necessary or desirable TO carr,
such plans and projects into execution
III shall adopt a resolution to this effect
lThe said resolution shall authorize AM
direct the State Treasurer to prepare tn
requisite number of suitable pohos am
shall specify
Il The aggregate number. aggregate
lpar value. and the date Of issuance D
The bonds to be issued
2 The date or dates OF maturity
the bonds to be issued and the nuinbe
|, land numerical sequence Of the Dohd
maturing at each date or maturity
Il The annual rate Of interest whicl
!, the bonds to be issued sho II bear
Il 4. The number. numerical sequence
!, lamount or amounts and the dates o
maturity OF the interest coupons To
ATTACHED T. the said bonds.
i The technical form and languag
lor the bonds to be issued and or n
Interest coupons to be attached thereto
In determining the date or dates O
maturity Of the said bonds and IN
lamount OF bonds maturing AT each { i
lCominittee of 1943 shall be guided b
/, 1.-THE amounts and dates Of maturity q
1.-THE revenues estimated to accrue 10 IN
lVeterans' Welfare Board from TN
, transactions to be financed by each l.
. lsue. and shall tx and determine gal
: dates and amounts In such manner tina
: together with the dates and AMOUNTS Z
5 slinterest payments Oh the said bond il
! |sue, they shall coincide. as nearly Q
!, ,lprhcticabie, with tho dates and amount
! Iof such estimated revenues. provide,
THAT tho bonds first to mature In eac
] Tissue. ehan mature not later than ny
: years from this Date Of tAsuRnce thegsqf