Imperial Valley press., 1944-10-11

lState, 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-
lest maturity date and with the apprOv-
laI OF the Governor. he may from time
Ito time. by public announcement at the
place and time fixed for the sale. con-
ltInue such sale, as to the whole Of the
bonds offered. or any part thereof Of
fered. to such time and place as he may
lselect. 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
Iplace Of sale Of all bonds shall be given
lby said Treasurer by publication In one
newspaper published in the City and
County OF San Francisco and also by
lpublica tion In one newspaper published
lin the City Of Sacramento and by publ
lcation In one newspaper published In the
CITY Of Los Angeles once a week during
flour weeks prior to such sale. In add.
lt;On to the notice last above provided
flor. the State Treasurer may give such
further notice as he may deem advisa-
BILE, but the expense and cost OF such ad.
ditional notice shall not exceed the sum
|of FIVE hundred dollars ($500) for each
sale so advertised. The proceeds OF the
lsale OF such bonds and such amount as
may have been paid as accrued interest
thereon shall be forthwith paid over by
and Home Building Fund OF l943 and
must 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 3 Of this chapter provided. tina,
the proceeds from the sale OF said
bonds may be used to pay the debt ere
ated by the Issuance and sale thereof.
99O.9 The Veterans Welfare Board
lis authorized. with the approval OF the
State Department of Finance, to invest
any surplus moneys In the veterans
Farm and Home Building Fund OF l?4.
In bonds Of the United States. or OF tht
State OF California, or OF the severa
counties or municipalities or othel
political subdivisions Of the State ol
lCaIifornia, and to sell such bonds, ol
any o. them. at the governing marke
rates upon approval OF the state De
Welfare Board may. with the approva
|of the Director Of Finance. inves
moneys In such fund. In interest-bearine
certificates Of deposit OF state bank.
aving a paid-up capital Of five hundred
Thousand dollars ($500.OoO or more
provided. that the total amount o.
money so deposited with any one banl
shall not exceed sum equal to 80 pei
cent of the paid-up capital OF such bank
provided, however, that nothing herein
lcontained shall inhibit or be construed
to inhibit the depositing In banks II
acc e1sfies VAN An e ace to authorize
lc0ntrol the depositing In banks o
lmoneys belonging to or In the custody o
1.-THE State and to repeal all acts or part
Iof acts conflicting with this act, ,ap
lproved April IL. 1928, and or any and al
acts amendatory thereof or suppiemetn en-
funds subject to the control or the Vete
lrans' Welfare Board or appropriated TO
! It's use.
Interest accruing upon the deposit o
moneys of the Veterans Farm ant
Home Building Fund OF is4$ shall b
J 991 There is hereby created q Vete
rams Finance Committee Of 1913 com
, posed OF the Governor. State Controller
, State Treasurer. Director OF Finance
land chairman Of the Veterans Walfar
Board. all Of whom shall serve thereof
OF whom shall be empowered to act 10
3 lsaid committee The Attorney Genera
] Iof the State shall be the legal advise
= OF the Veterans Finance Committee o
! Upon request Of the Veterans Wei
the plans and projects Of the Veteran.
Z Welfare Board with respect thereto tn
Veterans Finance Committee of 1914
g Ishall determine whether or not bon
DIissue under this article Is necessary q
desirable to carry such plans and pro-
+ lects into execution.
9911. Whenever the said Veteranl
/. Finance Committee of 1913 shall hav
h determined that a bond Issue under thl
I article ts necessary or desirable to carr
!. such plans and projects into execution
II shall adopt resolution to this effec
d The said resolution shall authorize an
= direct the State Treasurer to prepare tn
y requisite number of suitable bonds an
e l. The aggregate number. aggrega,
y par value. and the date OF issuance
:. the bonds to be issued.
i e. The date or dates OF maturity. I
o the bonds to be Issued and the numbt
e and numerical sequence Of the bono
j. maturing at each date Of maturity.
e g. The annual rate Of interest whic
IS the bonds to be issued shall bear
e 4. The number. numerical sequenc
% amount or amounts and the dates
maturity of the interest coupons to
i attached to the said bonds.
, TIE technical form and languaf
% IOf the bOnos to be issued and OF Il
o Interest coupons to be attached theret
q In determinins the date % or dates DAT ;,
|r amount OF bonds maturing at each da
ol OF maturity. the Veterans Finan'
y yICommittee Of 1943 shall be guided
e 1.-THE amounts and dates Of maturity
3 1.-THE revenues estimated to accrue to q
Veterans Welfare Board from q
to be financed by each
'e lsue. and shall fix and determine sa
10 dates and amounts in such manner ths
le together with the dates and amounts
ls Interest payments on the said bond
II lsue, they shall coincide. as nearly
9, practicable, with the dates and amour
nj lof such estimated revenues; provide
n that the bonds first to mature in ca,
d Issue. shall mature not later than A.