Defense bonds were sold during the 1930s and after the war started they were called War Bonds. After the war the name was changed again to Savings Bonds. Your sign is then from the late 1930s. I have some old ads for Defense bonds, I'm going to try and find them and see if they mention the C.A.O.
I doubt that the Civil Defense ever sold bonds as this group wasn't started until after the war began. They were mostly air raid wardens that went around telling you to close your shades or blinds during air raid drills.
Also, while there is a California Concervation Corp. the initials CCC usually stand for Civilian Concervation Corp. This was a program started by Roosevelt during the 1930s to put mostly young men to work during the depression. Maybe the California C.C is an offshoot of this program.


Author, 1st & 2nd editions of Gas Pump ID book, 3rd edition is now available at www.gaspumpbible.com
Air Meter ID book also available