Anglo London Paris Co. v. Johnson

This is an application for a writ of mandate to require the respondent as state treasurer to sell and deliver to petitioners at the price bid by them at a sale conducted by respondent on October 23, 1924, a certain issue of two million dollars par value of “Veterans’ Welfare Bonds,” pursuant to the provisions of the Veterans’ Welfare Bond Act (Stats. 1921, p. 959) and of section 31 of article IV of the constitution. The respondent has refused to issue and deliver the bonds in consummation of such sale because of a question as to the validity of the sale by reason of an irregularity in the publication of notice thereof, hereinafter to be discussed.

The procedure prescribed in the act for the execution, issuance, and sale of such bonds is, briefly stated, as follows: Upon request of the veterans’ welfare board, supported by a statement of its plans and projects with respect thereto, the veterans’ welfare finance committee shall determine whether or not a bond issue is necessary or desirable to cany such plans and projects into execution. If it shall determine this question in the affirmative it shall adopt a resolution to this effect, authorizing and directing the state treasurer…