Imperial Valley press., 1944-08-02

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
Ito time, by public announcement at the
place and time fixed for the sac. con-
tinue such sale. az to the whole OF the
bonds offered. or any part thereof NJ.
fered. to such time and place as ha 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.
cyO.S. Due notice Of the time and
place OF sale of all bonds shall he given
by said Treasurer BY publication In one
newspaper published ~ the city and
County of San Francisco and also by
publication in one newspaper published
in the City of Sacramento ami by publi-
Ication in one newspaper published In the
city OF Los Angeles once weei 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-
bic, but the expense and cost OF such al
lditional notice shall not exceed the sum
lof FIVE hundred dollars ts500l for each
sale so advertised The proceeds Of the
lsa le Of such bonds and such amount as
Imay have been paid as accrued interest
thereon shall he forthwith paid over by
lsa id Treasurer into the veterans Farm
and Home Building Fund Of l943 and
must be used exclusively In aiding yete-
rams in the acquisition of. or payments
for, farms and homes. in accordance
with the provisions of this article and
Article Of this chapter provided. that
the proceeds from the sale OF said
bonds may he used to pay the debt Gre
ated by the issuance and sale thereof
99O.9 The Veterans Welfare Board
lis authorized. with the approval of the
IState 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
counties or municipalities or other
political subdivisions of the State OF
California. and to sell such bonds. oI
any Of them, al the governing market
rates. upon approval of the state De-
partmcnt Of Finance or the Veterans
Welfare Board may, with the approFa
of the Director Of Finance. invest
moneys I'm such fund. in interest bearing
certificates Of deposit of State bank.
having a paid-up capital OF five hundred
thousand dollars ts500.00OD or more
provided, that the total amount ol
money so deposited with any one banl
cent Of the padup capital Of such bank
lprOvided however that nothing hcreir
contained shall inhibit or be construed
to inhibit the depositing In banks ir
IaccOrda nee with the provisions of al
laci entitled IAN act to authorize ant
control the depositinG In bari;s o.
moneys belonging I" or in the custody :"
Ith. Stat. and to repeal all acts Or paris
Iof acts conflicting with this at" ap
proved April lc. 1928. and OF any and al
iacts amendatorv thereof OF supp'enlen
Itai thereto. of moneys OF any of tn.
funds subject to the control OF the Nete
,lrans' Welfare Board or appropriated fol
Its use.
interest accruing upon the deposit N
moneys Of the Veterans Farm ant
Home Building Fund of l943 shall b.
maid into and credited to said fund
! 99I There Is hereby created a Vete
rams Finance Committee of i943 com
, posed OF the Governor. State Controller
State Treasurer, Director of Finance
and chairman Of the Veterans Welfar'
Board. all OF whom shall serve Thereon
without compensation and majorit.
lOf whom shall be empowered to act TO
, said committee The Attorney Genera
Of the state shall be the legal advise
! Of the Veterans Finance Committee o
! 1913
/ UDon request Of the Veterans Wei
; fare Board, supported by statement
, Welfare Board with respect thereto. IN
Veterans Finance Committee of 1874
\ sha II determine whether OF not bon
, issue under this article Is necessary o
: desirable to carry such plans and proj
/, ects into execution.
gyI1 Whenever the SAID Veteran:
Finance Committee of l9f3 shall hav
! determined that a bond issue under thi
I larticlp Is necessary OF desirable to carr
such plans and projects into execution
liz shall adopt a resolution to this efec
The said resolution shall authorize an
direct the State Treasurer TO prepare TN
requisite number Of suitable bonds an
. shall specify
|. The aggregate number, aggresat
Y par value, and the date Of issuance {
. the bonds to be issued
2 The date or dates OF maturity I
D the bonds to be issued and the nunlbt
e and numerical sequence. of the bono
. maturing ut each date OF maturity
G 3 The annual rate Of interest whic
s the bonds to be issued shall bear
e 4 The number. numerical seuuenc
G amount or amounts and the dates I
maturity of the interest coupons 10 L
. attached TO the said bonds.
. s The technical form and languap
e Of the bonds to be issued and or tf
o Interest coupons to be attached theret
d In determining the date or dates
D maturity of the said bonds and tf
: amount Of bonds maturing a, each ,,a ca a,
. Of maturity. the veterans Fihant
y lCo,nmittee uf 1943 shall be guided !
e the amounts and dates Of maturity .
y the revenues estimated to accrue to 4
Veterans Welfare Board from Il
U transactions to bs financed by each !
e sue. and shall fix and determine sa
e dates and amounts In such manner ina
e together with the dates and amounts
= sinterest payments on the said bond ]
Il sue, they shall coincide. as nearly
). practicable, with the dates and amour
n Of such estimated revenues; provide
u that the bonds first TO mature In eat
d issue. shall mature not later tnan u