Imperial Valley press., 1944-10-04

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 30 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
ldetach therefrom all coupons which
have matured or will mature before the
day fixed for such sale.
sos. Due notice OF the time and
Iplace 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
lcation in one newspaper published In the
city OF Los Angeles once week during
four weeks prior to such sale. In add.
lt;on 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-
lditional notice shall not exceed the sun,
Of 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 he forthwith paid over by
said Treasurer into the Veterans Farm
and Home Building Fund Of l943 and
must be 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 thereon.
99O9 The Veterans Welfare Board
Is authorized. with the approval or the
State Department Of Finance, to invest
any surplus moneys In the Veterans
Farm and Home Building Fund OF 1919
In bonds of the United States. or OF the
State Of California. or OF the several
counties or municipalities or otheI
political subdivisions OF the state oi
California. and to sell such bonds. o,
any ~ them. at the governing marke'
rates upon approval Of the state De
part cent OF Finance. or the Veterans
Welfare Board may, with the approval
OF ,he Director Of Finance. invest
moneys In such fund. In interest-bearine
certificates Of deposit OF state Stat bank; nSi
having paid.up capital Of five hundred
thousand dollars (S500.O0O or more
provided. that the total amount OF
money so deposited with any one banF
shall not exceed sum elual 10 ~ pei
cent Of the paid-up capital OF such bank
provided. however. that nothing herelr
Contained shall inhibit or be construed
to inhibit the depositing In banks ir
accordance with the provisions OF ar
act entitled "An act to authorize ant
control the depositing IN banks o.
moneys belonging to or In the custody %
the State and to repeal all acts or part'
lof acts conflicting with this act ap
L., n AL
Iacts amendatory thereof or supplement
Ital thereto, OF moneys OF any OF tn
funds subject to the control OF the Vete
} Irans' Welfare Board or appropriated TO
It's use
interest accruing upon the deposit o
moneys OF the Veterans Farm am
Home Building Fund Of 1913 shall b.
J paid into and credited to said fund.
; 991 There Is hereby created Vete
rams Finance Committee Of l943 com
} posed Of the Governor. State ControlieF
State Treasurer, Director OF Finance
Board. all Of whom shall serve tnereo
without compensation and matorit
Of whom shall be empowered to act 10
2 said committee The Attorney Genera
] OF the State shall he the legal advise
, Of the Veterans Finance Committee o
, l943
!, Upon request Of the Veterans Wei
. fare Board. supported by statement o
the plans and projects Of the Veterans
, Welfare Board with respect thereto. tn
Veterans Finance Committee OF l94
= sha II determine whether or not "A bon
. issue under this article Is necessary o
, desirable to carry such plans and pro-
? ects into execution.
9gI1 Whenever the said Veterans
. Finance Committee of 1913 shall hav
, determined that a bond issue under thi
I article is necessary or desirable to carr
such plans and projects into execution
IL shall adopt a resolution to this effec
d The said resolution shall authorize an
10 direct the State Treasurer to prepare tn
" requisite number OF suitable bonds an
e l The aggregate number, aggregat
par value. and the date OF Issuance
:. the bonds to be issued
i 2 The date or dates OF maturity {
o the bonds to he issued and the nunibt
G and numerical sequence OF the bono
!. maturing at each date of maturity.
e 3 The annual rate Of interest whic
$ the bonds to be issued shall bear
e 4. The number. numerical sequenc
6 amount or amounts and the dates I
maturity OF the interest coupons to
!. attached q the said bonds.
i TIE technical form and langual
o of the bonds to be issued and OF II
0 interest coupons to be attached theret
d In determining the date or dates
d maturity Of the said bonds and Il
r amount Of bonds maturing at each "a
o Of maturity. the Veterans Fthan'
y Committee u 19fJ shall be guided |
u the amounts and dates Of maturity
. the revenues estimated to accrue to Il
Veterans Welfare Board from T.
% transactions TO be financed by each
,e sue, and shall fix and determine sa
.e dates and amounts In such manner tina
&c eItogether with the dates and amounts
ls interest payments on the said bond
II sue. they shall coincide. as nearly |
e. practicable, with the dates and amour
n of such estimated revenues; provide
n that the bonds first to mature in ea'
d Issue. shall mature not later than fl
from the date of issuance thereo