Imperial Valley press., 1944-09-27
PROPOSED Law
CHAPTER 585

An act to add Article 4, comprising
Sections $50 to e91.3 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
Finance Committee Of 1913; defining
the powers and duties OF said COM
mittee and Of the Veterans Welfare
Board and other State offieers IN
respect to the administration OF the
provisions hereof; providing ways
payment Of the interest Of such debt
or debts, liability or liabilities. as
such interest falls due, and also Tor
the payment and discharge OF the
principal Of such debt or debts, iiaoiI. .
ity or liabilities, as such principal
natures; approprlatin9 money ,Sr
vertisino the sale OF bonds herein
authorized to be issued; and provid.
inu for the submission OF this act to
vote Of the people at the general
election to be held in the month OF
November. 1894.
Filed with Secretary OF State
May IS. l943
The people Of the State Of California
do enact as follows:
SECTION Article 4. comprising Sec.
tions $50 to 99l3, inclusive. is added
to Chapter 6 Of Division 4 OF the Mill
tary and Veterans Code. to read
Article 4 Veterans Bond Act Of ly43
Toll. h1. n ah "a
Veterans Bond Act OF l943.
990l For the purpose or creating
a fund to provide farm and home aid
for veterans In accordance win the
provisions Of the Veterans Farm and
Home Purchase Act OF l943. and OF all
mental thereto, the Veterans Finance
Committee OF l943 created by this arti.
Gle shall be and II hereby Is authorized
and empowered to create dept OF
debts, liability or liabilities. OF the
State OF California. in the manner and
to the extent hereinafter provided, but
not otherwise. nor in excess thereof.
9902 After the Issuance OF the
proclamation Of the Governor annOunc'
ing the ratification Of this article. anc
Immediately after adoption OF any r.so
luton by the Veterans Finance Com
mlttee Of l943 hereby created. prGvldec
for In Section 99l |. the State Treas
urer shall prepare the requisite number
of suitable bonds Of the denomination oi
one thousand dollars t$l .0O0j in &C
cordance with the specifications con
tained In such resolution. The nggre
gate par value Of all bonds issued undei
this article shall not exceed the sun
of thirty million dollars t$30.OOO.O 900
and the bonds issued under any suci
resolution shall bear interest from I'M
date OF issuance OF said bonds to tn
date. Of maturity thereof. at rate .
be determined by the said Veterans
Finance Committee OF 1943 and speci
fed In such resolution. but In no cas-
exceeding 8 per cent per annun. BOZ
principal and interest shall be payable
In lawful money OF the United States
at the Office OF tn. State Treasurer
or at the Office OF any duly authorize,
agent OF the State Treasurer. and shal
be so payable at the times specified II
saio resolution or resolutions
All bonds issued under this artici
shall bear the fac-simile signature o
the Governor and the fac-simile counter
signature OF the Controller and shall b.
endorsed by the State Treasurer eithe
by original signature or by q Bignatur
stamp adopted for each particular BON
Issued under this article and the bond
shall lie signed, countersigned and en-
dorsed by the officers who shall De J.
Office on the date OF issuance thereof
and each Of said bonds shall bear a
impress Of the Great Seal OF the stat
Of California. The bonds SO signed
counterslgned, endorsed and sealed
when sold. shall be and constitute
valid and binding obligation upon IN
State OF California. although the sal
thereof be made at date or dates upo
Which the officers having signed. coun
tersigned and endorsed said bonds. Q
ceased 10 be the incpmbents OF IN
ofacas held by them At the tlIns &