Imperial Valley press., 1944-10-18
PROPOSED Law
CHAPTER 5S5

An act to add Article 4. comprising
Sections $50 to eet.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 tho issuance
and sale Of State bonds. for the single
object Of creating a fund to provide
accordance with the provisions Of the
Veterans Farm and Home Purchase
Act OF 1913; creating Veterans
Finance Committee Of 1e43; defining
the powers and duties OF said com.
nittee and Of the Veterans Welfare
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 fails due, and also for
the payment and discharge OF the
principal Of such debt or debts. liabil.
ity or liabilities, as such principal
natures; appropriatine money Tor
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
election to be held in the month Of
November, 1914.
Filed with Secretary of State
May Is. l943
The people Of the State o. California
do enact as follows:
SECTION Article 4. comprising Sec.
tions $50 to g9I 3, inclusive. is added
to Chapter Of Division Of the Mill.
tary and Veterans Code. to read
Article 4 Veterans Bond Act Of 1913
$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 1913. and Of all
acts amendatory thereof or supple
mental thereto. the Veterans Finance
Committee OF ly43 created by this arti-
Gle shall be and II hereby Is authorized
and empowered to create a debt or
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
990.2 After the issuance OF the
proclamation Of the Governor annUunc-
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 OF
one thousand dollars S1 .000) IN &C.
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 $3.50. 200. .000)
and the bonds issued under any such
resolution shall bear interest from the
date OF issuance Of said bonds To tht
date of maturity thereof. at a rate tt
he determined by the said Veterans
Finance Committee Of 1943 and speci
fed In such resolution. but In no cast
exceeding per cent per annum. Bot
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
saiu resolution or resolutions.
All bonds issued under this article
shall bear the facsimile signature o.
the Governor and the facsimile counter
signature OF the Controller and shall b'
endorsed by the State Treasurer eithel
By original signature or by signature
stamp adopted for each particular bont
issued under this article and the bond
shall he signed. countersigned and en-
dorsed by the officers who shall be II
office on the date of issuance thereon
and each Of said bonds shall bear 81
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 tn
State Of California. although the salt
thereof be made at q date or dates upoT
tersigned and endorsed said bonds. o
any Or either Of said officers. shall hav'
ceased to be the incumbents OF th'
0f1ces held by them at the time o