Imperial Valley press., 1944-11-01

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 so offered plus the interest
which has accrued thereon between the
date of sale and the last preceding inter-
est maturity date and with the approV-
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
detach therefrom all coupons which
have matured or will mature before the
day fixed for such sale.
S90,S. Due notice OF the time and
place of sale of all bonds shall be given
by said Treasurer by publication In one
published In the City and
County OF San Francisco and also by
publica ton In one newspaper published
in the City of Sacramento and by publ
cation in one newspaper published in the
city of Los Angeles once a week during
-four weeks prior to such sale. In addi-
ton 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-
ditional notice shall not exceed the sum
of Ave hundred dollars t$500) for each
sale 80 advertised The proceeds Of the
sale of such bonds and such amount as
may have been paid as accrued interest
thereon shall be 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
Ifor, 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 OF the
state Department Of Finance. to invest
any surplus moneys In the veterans !,
Farm and Home Building Fund of l943
lin bonds of the United States. or of the
State of California. or Of the several
lcounties or municipalities or other
political subdivisions Of the State OF
lCaIjrornia, and to sell such bonds. or
any % them, at the governing marke'
rates upon approval of the state De.
"a rt, aent of Finance or the Veterans
Welfare Board may. with the approval
| of the Director OF Finance, inVes'
moneys In such fund. In interest bearing
certificates of deposit Of state banks
having a paid,up capital 6dd OF I'VE hundred more
provided, that the total amount oi
money so deposited with any one bank
shall not exceed a sum equal TO % pei
cent OF the paiG-up capital OF sucn bank
provided, however. that nothing hereif
contained shall inhibit or be constrnes
to inhibit the depositing In banks II
accordance with the provisions OF al
act entitled "An act to authorize anf
control the depositing IN banks o,
moneys belonging to or in the custody %
the State and to repeal all acts or part'
of acts conflicting with THIS act. ap
Iproved April 70, 1928. and of any ana al
lacts amendatory thereof or supplement
Ital thereto. of moneys Of any or I'M
funds subject to the control OF the Vete
lrans' Welfare Board or appropriated To-
Hts use.
moneys Of the Veterans Farm AM
Il Home Building Fund of 1913 shall b
maid into and credited to said fund.
II 99i There Is hereby created Vete
rams Finance Committee of l943 com
posed OF the Governor. State controller
State Treasurer, Director OF t.naince if
Board, all of whom shall serve Thereon
without compensation and majorit
of whom shall be empowered to act 10
, said committee The Attorney Genera
! o1 the State shall be the legal advise
! Of the Veterans Finance committee
! 1943
/. fare BOARD supported by Il statement G
1.-THE plans and projects Of the Veterans
, Welfare Board with respect thereto. IN
I Veterans Finance Committee OF l94
b shall determine whether or not Don
. Tissue under this article Is necessary q
' desirable to carry such plans and pro.
p ects into execution.
gail Whenever the said Veteran
. Finance Committee OF 1913 shal u haV
, determined that bond issue under IN
I larticle Is necessary or desirable to carr
. such plans and projects into execution
lii shall adOp; a resolution TO this effec
THE said resolution shall authorize an
direct the State Treasurer to prepare I'll
= requisite number OF suitable bonds an
e shall specify
y mar value. and the date of issuance
+. the bonds to be issued.
i 2 The date or dates OF maturity
o the bonds to be issued and the nunip'
e and numerical sequence of the bon'
j. maturing at each date ~ maturity.
e The annual rate OF interest wni'
IS the bonds to be issued shall bear
e 4. The number. numerical sequenc
e amount or amounts and the dates
maturity OF the interest coupons To
l. attached to the said bonds.
}. TIE technical form and langua,
Le of the bonds to be issued and or I.
70 Interest coupons to be attached there'
ID In determining the date or dates
ID maturity Of the said bonds ana U
ir amount Of bonds maturing at each ca
to Of maturity. the Veterans tinan
y Committee Of 1943 shall be guided
le the amounts and dates Of maturity
y the revenues estimated to accrue 10
Veterans Welfare Board from !
to transactions to be financed by each
be sue. and shall FIX and determine "a
te dates and amounts In such manner th'
he tog ether with the dates and amounts
ls interest payments on the said BOND
LII sue. they shall coincide. as nearly
e. practicable, with the dates and amour
On Of such estimated revenues; proVio'
Ell that the bonds first to mature In ca
rd issue, shall mature not later than u