Imperial Valley press., 1944-08-23
PROPOSED LAW.
CHAPTER 595

An act to add Article 4, comprising
Sections $50 to 9e13 inclusive. to
Chapter 6 OF Division 4 Of the Military
and Veterans Code, authorizing the
creation OF a debt or debts, liability
or liabilities, through the issuance
and sale Of State bonds. for the single
object Of creating a fund to provide
farm and home aid for veterans in
accordance with the provisions Of the
Veterans Farm and Home Purchase
Act Of 1s43: creating Veterans
Finance Committee Of 1913; defining
the powers and duties OF said com
mittee and OF the Veterans Welfare
Board and other State officers in
respect to the administration Of the
provisions hereof; providing ways
and means, exclusive Of loans. for the
payment Of the interest of such debt
or debts, liability or liabilities, as
such interest falls due, and also for
the payment and discharge Of the
principal Of such debt or debts, Iiabii.
ity or liabilities, as such principal
natures; appropriatino money for
the expense OF preparing and OF ad-
vertisino the sale OF bonds herein
authorized to be issued; and provid.
ING for the submission Of this act to
vote Of the people at the general
November. 1914.
tApproved by Governor May Is. 1913
Filed with Secretary Of State
May Is. l943 ]
The people Of the State OF California
do enact as follows:
SECTION l Article 4. comprising Sec.
tions $50 TO 99l3. inclusive. Is added
to Chapter OF Division 4 of the Mill
tary and Veterans Code. to read
Article Veterans Bond Act Of l943
$50 This article may be cited as the
Veterans Bond Act of l943
1901 For the purpose OF creating
fund to provide farm and home aid
for veterans In accordance with the
provisions OF the Veterans Farm and
Home Purchase Act of l943. and OF all
acts amendatory thereof or supple.
mental thereto. the Veterans Finance
Committee of 1y43 created by this arti.
Gle shall be and 1t hereby Is authorized
debts. liability or liabilities. OF the
State OF California. in the manner and
to the extent hereinafter provided. but
not otherwise. nor in excess thereof.
9902 After the issuance Of the
proclamation Of the Governor announc-
ing the ratification Of this article. and
Immediately after adoption Of any resO.
luton by the Veterans Finance Com.
mittee OF 1913 hereby created, provided
for in Section 99l |. the State Treas
urer shall prepare the requisite number
of suitable bonds of the denomination Oi
one thousand dollars t$l ,000) in ac'
cordance with the specifications con
tained in such resolution. The aggre
gate par value OF all bonds issued under
this article shall not exceed the sun
Of thirty million dollars 30,OO0.OOOl
and the bonds issued under any sucf
resolution shall bear interest from the
date OF Issuance OF said bonds to thu
date OF maturity thereof. at rate tt
be determined by the said Veterans
Finance Committee Of 1943 and speci
fled in such resolution. but In no cas'
exceeding per cent per annum Boti
principal and interest shall be payable
In lawful money Of the United States
at the Office Of the State Treasurer
or at the Office OF any duly authorized
agent OF the State Treasurer. and shal
be so payable at the times specified iI
said resolution OF resolutions.
All bonds issued under this article
shall bear the fac-simile signature o.
the Governor and the facsimile counter
signature OF the Controller and shall b,
endorsed by the State Treasurer either
by original signature or by signature
stamp adopted for each particular bono
issued under this article and the bond,
shall be signed, countersigned and en-
dorsed by the officers who shall be II
Office on the date Of issuance thereof
and each Of said bonds shall bear ar
impress Of the Great Seal Of the Stat.
OF California. The bonds 80 signed
countersigned, endorsed and sealed
when sold. shall be and constitute .
valid and binding obligation upon thu
State OF California. although the salt
thereof be made at a date or dates upoI
which the officers having signed. coun
tersigned and endorsed said bonds. ol
any or either Of said officers. shall hav,
ceased to be the incumbents OF tn,
Offices held by them at the time d