Imperial Valley press., 1944-09-13
PROPOSED LAW
CHAPTER 58S

CHAPTER ssS
sections $50 to eet.s inclusive, to
Chapter 8 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
Act OF ,s43; creating a Veterans
Finance Committee Of 1913; defining
the powers and duties Of said com
n,ittee and OF the Veterans welfare
Board and other State officers in
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 falls due, and also for
the payment and discharge o. the
ity or liabilities. as such principal
natures; sppropriating money for
the expense Of preparing and OF ad.
vertisinp the sale OF bonds herein
authorized TO be issued; and provid.
ing for the submission Of this act to
election to be held in the month OF
fApproved by Governor May lS. 1913
Filed with Secretary of State
May 1s. l943
The people Of the state Of California
do enact as follows:
SECTION | Article Z, comprising Sec
tions $50 TO s9l 3, inclusive, is added
to CHAPTER 6 of Division of the Mill
tary and Veterans Code. TO read
Article 4 Veterans Bond Act of 1913
geo This article may be cited as the
Veterans Bond Act OF 1913
e90l For the purpose OF creating
a fund to provide farm and home ald
for veterans in accordance with the
provisions Of the Veterans Farm and
Home Purchase Act OF 1919. and OF al
acts amendatory thereof or supple
mental thereto, the Veterans Finance
Committee Of 1g43 created by this arti.
Gle shall be and II hereby is authorized
and empowered to create debt oI
debts. liability or liabilities. OF tins
State of California. In the manner anc
to the extent hereinafter provided, bu'
not otherwise. nor In excess thereof.
99O2 After the issuance OF tn.
proclamation OF the Governor annOunc
Ing the ratification Of this article. anc
Immediately after adoption of any reso
Iution BY the Veterans Finance Com
for In Section 99l |. the State Treas
urer shall prepare the requisite number
Of suitable bonds of the denomination O
ono thousand dollars tSl, ,000) in &C
cordance with the specifications con
tained In such resolution. The nggre
gate par value Of all bonds issued undel
this article shall not exceed the sun
Of thirty million dollars S30,000. 600 J
and the bonds issued under any suci
resolution shall bear interest from tn
date Of Issuance Of said bonds to tn
date OF maturity thereof, at a rate 4
be determined by the said Veterans
Finance Committee Of 1943 and speci
ned in such resolution. but In no cas-
exceeding 5 per cent per annum. Bot
principal and interest shall be payabl
In lawful money Of the United States
at the Office Of the State Treasurer
or at the office OF any duly authorize.
agent OF the State Treasurer. and shal
be so payable al the times specified II
said resolution or resolutions.
A. All bonds Issued under this articI
shall bear the facsimile signature o
the Governor and the facsimile counter
signature OF the Controller and shall b
endorsed by the State Treasurer eithe
by original signature or by a signatur
stamp adopted for each particular BON
issued under this article and the bond
shall be signed, countereigned and en-
dorsed by the officers who shall be u
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 30 signed
countereigned, endorsed and sealed
when sold. shall be and constitute
valid and binding obligation upon tn
State OF California. although the sal
thereof be made at u date or dates upo
which the officers having signed. cOun
tersigned and endorsed said bonds. Q
~ Ia l.a.
ceased 10 be the incumbents OF tn
ofiices held by them at the time 9