State Codes and Statutes

Statutes > California > Mvc > 1001.1-1001.9

MILITARY AND VETERANS CODE
SECTION 1001.1-1001.9



1001.1.  Debentures may be issued by the department at such times
and in such amounts not to exceed five hundred million dollars
($500,000,000) in the aggregate as the department, with the approval
of the Veterans' Debenture Finance Committee, may determine. The
issuance of debentures shall be authorized by a resolution of
issuance adopted as in this chapter provided.



1001.2.  Whenever the department determines that debentures should
be issued, it shall adopt a resolution of issuance, which shall be
executed for the department by the Director of Veterans Affairs. Each
resolution of issuance so adopted by the department shall be
submitted to the Veterans' Debenture Finance Committee, which shall
consider and approve or disapprove any resolution of issuance so
submitted. Upon such approval, by a resolution adopted by a majority
of the members of the Veterans' Debenture Finance Committee, the
resolution of issuance shall become effective and the State Treasurer
shall cause the debentures authorized thereunder to be prepared in
accordance with the terms of the resolution of issuance.




1001.3.  Debentures shall be issued in the name of the Department of
Veterans Affairs of the State of California and as the obligation of
the department, but neither the principal of, nor the interest on,
any debentures shall be or become a lien, charge or liability against
the State of California, the department or the Veterans' Debenture
Finance Committee, or against the property or funds of any of them,
except to the extent of the pledge of revenues as may be provided by
the resolution of issuance pursuant to which such debentures are
issued. Every debenture shall contain a recital substantially as
follows: "This debenture is a special obligation of the Department of
Veterans Affairs of the State of California, and is not a lien,
charge or liability against the State of California, or against the
Department of Veterans Affairs or against the property or funds of
either, except only to the extent of the pledge of revenues or part
of revenues as provided in the resolution. The holder of this
debenture cannot compel the exercise of the taxing power of the State
of California or the forfeiture of its property to pay this
debenture or the interest thereon."



1001.4.  All debentures shall bear the facsimile signature of the
Director of Veterans Affairs and the Deputy Director of Veterans
Affairs and shall be authenticated by the trustee. The seal of the
Department of Veterans Affairs shall be impressed, mechanically
reproduced or imprinted by facsimile upon each debenture. The
interest coupons attached to any debenture shall bear a facsimile of
the signature of the Director of Veterans Affairs. In case any such
official whose signature or countersignature appears on the
debentures or coupons shall cease to be such official before the
debentures so signed or countersigned shall have been actually
executed or delivered, such signature or countersignature shall
nevertheless be valid and sufficient for all purposes the same as if
he had remained in office until the delivery of the debentures, and
such debentures and coupons shall be issued and shall be as binding
upon the department as though the person who signed such debentures
or coupons had been such official on the date borne by the debentures
or coupons and on the date of delivery. Any such debentures may be
signed and sealed on behalf of the department by such person as at
the actual date of execution of such debentures shall be the Director
of Veterans Affairs or the Deputy Director of Veterans Affairs, as
the case may be, although on such date as may be borne by such
debentures any such person shall not have been such official.




1001.5.  The validity of the authorization and issuance of any
debentures shall not be dependent on or affected by the validity or
regularity of any proceedings relating to the expenditure of the
proceeds thereof.


1001.6.  Reference on the face of any debentures to a resolution of
issuance by its date of adoption, or the apparent date on the face
thereof, shall be sufficient to incorporate all of the provisions
thereof and of this chapter into the body of the debentures and their
appurtenant coupons. Each taker and subsequent holder of the
debentures or coupons, whether the coupons are attached to or
detached from the debentures, shall have recourse to all of the
provisions of the resolution of issuance and of this chapter, and
shall be bound thereby.


1001.7.  In addition to the debentures authorized by Section 1001.1,
the department may issue additional debentures not to exceed five
hundred million dollars ($500,000,000) in the aggregate, at such
times and in such amounts as the department, with the approval of the
Veterans' Debenture Finance Committee, may determine. The issuance
of such debentures shall be authorized by a resolution of issuance
adopted as provided in this chapter.



1001.8.  In addition to the debentures authorized by Sections 1001.1
and 1001.7, the department may issue additional debentures, not to
exceed five hundred million dollars ($500,000,000) in the aggregate,
at the times and in the amounts that the department, with the
approval of the Veterans' Debenture Finance Committee, may determine.
The issuance of these debentures shall be authorized by a resolution
of issuance adopted as provided in this chapter.



1001.9.  In addition to the debentures authorized by Sections
1001.1, 1001.7, and 1001.8, the department may issue additional
debentures at any time pursuant to this chapter if the total amount
of debentures outstanding at any time does not exceed the total
amount of debentures authorized by this article.
   Debentures which are refunded pursuant to Article 5 (commencing
with Section 1004.1), or for which money or securities sufficient to
pay the principal, interest, and any redemption premium thereon have
been deposited in any reserve fund or in trust, are not debentures
which are outstanding within the meaning of this section.


State Codes and Statutes

Statutes > California > Mvc > 1001.1-1001.9

MILITARY AND VETERANS CODE
SECTION 1001.1-1001.9



1001.1.  Debentures may be issued by the department at such times
and in such amounts not to exceed five hundred million dollars
($500,000,000) in the aggregate as the department, with the approval
of the Veterans' Debenture Finance Committee, may determine. The
issuance of debentures shall be authorized by a resolution of
issuance adopted as in this chapter provided.



1001.2.  Whenever the department determines that debentures should
be issued, it shall adopt a resolution of issuance, which shall be
executed for the department by the Director of Veterans Affairs. Each
resolution of issuance so adopted by the department shall be
submitted to the Veterans' Debenture Finance Committee, which shall
consider and approve or disapprove any resolution of issuance so
submitted. Upon such approval, by a resolution adopted by a majority
of the members of the Veterans' Debenture Finance Committee, the
resolution of issuance shall become effective and the State Treasurer
shall cause the debentures authorized thereunder to be prepared in
accordance with the terms of the resolution of issuance.




1001.3.  Debentures shall be issued in the name of the Department of
Veterans Affairs of the State of California and as the obligation of
the department, but neither the principal of, nor the interest on,
any debentures shall be or become a lien, charge or liability against
the State of California, the department or the Veterans' Debenture
Finance Committee, or against the property or funds of any of them,
except to the extent of the pledge of revenues as may be provided by
the resolution of issuance pursuant to which such debentures are
issued. Every debenture shall contain a recital substantially as
follows: "This debenture is a special obligation of the Department of
Veterans Affairs of the State of California, and is not a lien,
charge or liability against the State of California, or against the
Department of Veterans Affairs or against the property or funds of
either, except only to the extent of the pledge of revenues or part
of revenues as provided in the resolution. The holder of this
debenture cannot compel the exercise of the taxing power of the State
of California or the forfeiture of its property to pay this
debenture or the interest thereon."



1001.4.  All debentures shall bear the facsimile signature of the
Director of Veterans Affairs and the Deputy Director of Veterans
Affairs and shall be authenticated by the trustee. The seal of the
Department of Veterans Affairs shall be impressed, mechanically
reproduced or imprinted by facsimile upon each debenture. The
interest coupons attached to any debenture shall bear a facsimile of
the signature of the Director of Veterans Affairs. In case any such
official whose signature or countersignature appears on the
debentures or coupons shall cease to be such official before the
debentures so signed or countersigned shall have been actually
executed or delivered, such signature or countersignature shall
nevertheless be valid and sufficient for all purposes the same as if
he had remained in office until the delivery of the debentures, and
such debentures and coupons shall be issued and shall be as binding
upon the department as though the person who signed such debentures
or coupons had been such official on the date borne by the debentures
or coupons and on the date of delivery. Any such debentures may be
signed and sealed on behalf of the department by such person as at
the actual date of execution of such debentures shall be the Director
of Veterans Affairs or the Deputy Director of Veterans Affairs, as
the case may be, although on such date as may be borne by such
debentures any such person shall not have been such official.




1001.5.  The validity of the authorization and issuance of any
debentures shall not be dependent on or affected by the validity or
regularity of any proceedings relating to the expenditure of the
proceeds thereof.


1001.6.  Reference on the face of any debentures to a resolution of
issuance by its date of adoption, or the apparent date on the face
thereof, shall be sufficient to incorporate all of the provisions
thereof and of this chapter into the body of the debentures and their
appurtenant coupons. Each taker and subsequent holder of the
debentures or coupons, whether the coupons are attached to or
detached from the debentures, shall have recourse to all of the
provisions of the resolution of issuance and of this chapter, and
shall be bound thereby.


1001.7.  In addition to the debentures authorized by Section 1001.1,
the department may issue additional debentures not to exceed five
hundred million dollars ($500,000,000) in the aggregate, at such
times and in such amounts as the department, with the approval of the
Veterans' Debenture Finance Committee, may determine. The issuance
of such debentures shall be authorized by a resolution of issuance
adopted as provided in this chapter.



1001.8.  In addition to the debentures authorized by Sections 1001.1
and 1001.7, the department may issue additional debentures, not to
exceed five hundred million dollars ($500,000,000) in the aggregate,
at the times and in the amounts that the department, with the
approval of the Veterans' Debenture Finance Committee, may determine.
The issuance of these debentures shall be authorized by a resolution
of issuance adopted as provided in this chapter.



1001.9.  In addition to the debentures authorized by Sections
1001.1, 1001.7, and 1001.8, the department may issue additional
debentures at any time pursuant to this chapter if the total amount
of debentures outstanding at any time does not exceed the total
amount of debentures authorized by this article.
   Debentures which are refunded pursuant to Article 5 (commencing
with Section 1004.1), or for which money or securities sufficient to
pay the principal, interest, and any redemption premium thereon have
been deposited in any reserve fund or in trust, are not debentures
which are outstanding within the meaning of this section.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Mvc > 1001.1-1001.9

MILITARY AND VETERANS CODE
SECTION 1001.1-1001.9



1001.1.  Debentures may be issued by the department at such times
and in such amounts not to exceed five hundred million dollars
($500,000,000) in the aggregate as the department, with the approval
of the Veterans' Debenture Finance Committee, may determine. The
issuance of debentures shall be authorized by a resolution of
issuance adopted as in this chapter provided.



1001.2.  Whenever the department determines that debentures should
be issued, it shall adopt a resolution of issuance, which shall be
executed for the department by the Director of Veterans Affairs. Each
resolution of issuance so adopted by the department shall be
submitted to the Veterans' Debenture Finance Committee, which shall
consider and approve or disapprove any resolution of issuance so
submitted. Upon such approval, by a resolution adopted by a majority
of the members of the Veterans' Debenture Finance Committee, the
resolution of issuance shall become effective and the State Treasurer
shall cause the debentures authorized thereunder to be prepared in
accordance with the terms of the resolution of issuance.




1001.3.  Debentures shall be issued in the name of the Department of
Veterans Affairs of the State of California and as the obligation of
the department, but neither the principal of, nor the interest on,
any debentures shall be or become a lien, charge or liability against
the State of California, the department or the Veterans' Debenture
Finance Committee, or against the property or funds of any of them,
except to the extent of the pledge of revenues as may be provided by
the resolution of issuance pursuant to which such debentures are
issued. Every debenture shall contain a recital substantially as
follows: "This debenture is a special obligation of the Department of
Veterans Affairs of the State of California, and is not a lien,
charge or liability against the State of California, or against the
Department of Veterans Affairs or against the property or funds of
either, except only to the extent of the pledge of revenues or part
of revenues as provided in the resolution. The holder of this
debenture cannot compel the exercise of the taxing power of the State
of California or the forfeiture of its property to pay this
debenture or the interest thereon."



1001.4.  All debentures shall bear the facsimile signature of the
Director of Veterans Affairs and the Deputy Director of Veterans
Affairs and shall be authenticated by the trustee. The seal of the
Department of Veterans Affairs shall be impressed, mechanically
reproduced or imprinted by facsimile upon each debenture. The
interest coupons attached to any debenture shall bear a facsimile of
the signature of the Director of Veterans Affairs. In case any such
official whose signature or countersignature appears on the
debentures or coupons shall cease to be such official before the
debentures so signed or countersigned shall have been actually
executed or delivered, such signature or countersignature shall
nevertheless be valid and sufficient for all purposes the same as if
he had remained in office until the delivery of the debentures, and
such debentures and coupons shall be issued and shall be as binding
upon the department as though the person who signed such debentures
or coupons had been such official on the date borne by the debentures
or coupons and on the date of delivery. Any such debentures may be
signed and sealed on behalf of the department by such person as at
the actual date of execution of such debentures shall be the Director
of Veterans Affairs or the Deputy Director of Veterans Affairs, as
the case may be, although on such date as may be borne by such
debentures any such person shall not have been such official.




1001.5.  The validity of the authorization and issuance of any
debentures shall not be dependent on or affected by the validity or
regularity of any proceedings relating to the expenditure of the
proceeds thereof.


1001.6.  Reference on the face of any debentures to a resolution of
issuance by its date of adoption, or the apparent date on the face
thereof, shall be sufficient to incorporate all of the provisions
thereof and of this chapter into the body of the debentures and their
appurtenant coupons. Each taker and subsequent holder of the
debentures or coupons, whether the coupons are attached to or
detached from the debentures, shall have recourse to all of the
provisions of the resolution of issuance and of this chapter, and
shall be bound thereby.


1001.7.  In addition to the debentures authorized by Section 1001.1,
the department may issue additional debentures not to exceed five
hundred million dollars ($500,000,000) in the aggregate, at such
times and in such amounts as the department, with the approval of the
Veterans' Debenture Finance Committee, may determine. The issuance
of such debentures shall be authorized by a resolution of issuance
adopted as provided in this chapter.



1001.8.  In addition to the debentures authorized by Sections 1001.1
and 1001.7, the department may issue additional debentures, not to
exceed five hundred million dollars ($500,000,000) in the aggregate,
at the times and in the amounts that the department, with the
approval of the Veterans' Debenture Finance Committee, may determine.
The issuance of these debentures shall be authorized by a resolution
of issuance adopted as provided in this chapter.



1001.9.  In addition to the debentures authorized by Sections
1001.1, 1001.7, and 1001.8, the department may issue additional
debentures at any time pursuant to this chapter if the total amount
of debentures outstanding at any time does not exceed the total
amount of debentures authorized by this article.
   Debentures which are refunded pursuant to Article 5 (commencing
with Section 1004.1), or for which money or securities sufficient to
pay the principal, interest, and any redemption premium thereon have
been deposited in any reserve fund or in trust, are not debentures
which are outstanding within the meaning of this section.