The state herald., 1908-10-30

reverse side OF each of said bonds, only
such an amount and number OF said
bonds shall be issued as may be neces-
sary to pay the amounts due on the
outstanding warrants OF the State as
prescribed in this Act.
Section Z. Whenever the bonds pro-
vided in this Act are issued, it shall be
the duty Of the state board of eQuali-
zation to levy aud assess a special tax
on all taxable property in this state
sutficient IN amount to meet the semi,
annual interest accruing on said
bonds, which tax when collected "hIil
be paid into the State Treasury to ,hc
credit of the Interest fund OF sail
bonds. known as Funding Bonds, SER
les OF 1909" and for the ultimate re-
dcmption of said bonds. there shall ee
levied annually for nve years, after
ten years from the date of their issu-
ance. such tax upon all of the taxa
BILE property of the State as shall cre-
ate an annual fund equal to twenty
t2Ol per centum of the whole amount
be called Funding. Bond, Series Of
1909, Sinking Fund" All taxes for
interest upon and for the redemption
of such bonds, shall be levied and col
lectcd as other State taxes, and shall
be paid into the State Treasury In cash
only; the proceeds thereof shall be
kept py me state Treasurer as a DIS
tinct fund under the respective heads,
TO be used in payment of interest on.
and redemption of said bonds, or for
their purchase as hereinafter provided,
Provided. chat whenever any surplus
remains to the credit of the interest
iund after the fun payment OF the in
terest maturing in any year the State
Treasurer shall cause such surplus to
| be transferred to the credit OF the
funding Bond, Series of 1908. Sinking
| Fund Al moneys belonging to the
| said sinking fund may be Invested by
| SAID state Treasurer in any OF the
bonds issued under this Act; but not
otherwise.
snctinn g 'rbo 'r,ao,,rar ,h,n La,
| cludc in his biennial report n statement
| OF the interest collected In pursuance
OF this Act. the amount paid, also the
| amount. IL any, carried to the sinking
| fund and how invested. when any OF
| the said bonds are purchased or re-
deemed under this Act. 1t shall be the
duty OF the Treasurer to cancel the
same, SO that they can be plainly iden-
| tlfled, and to cause the record OF such
| cancellation to be made In the regis
try books OF both the state Treasurer
and the State Auditor. and they shall
| be kept on file In the State Treasurer =
| office: and any such purchases and
cancellations shall also appear In said
| biennial statement of the Treasurer.
| Section .. For the payment of the
| coupons representing the first year 4
| interest accrued aud due on bonds Is
sued under this Act. the State Treas
| urer Is hereby authorized aud directed
/ To apply any money at that time In his
| hands belonging to the general teve-
/ enuc fund, or the funds hccruing from
| interest on bank deposits; and so much
| money as may he necessary therefor.
| IL hereby appropriated out Of such
| FUNDS for the payment of said Inter
| est
Section 10, The Governor and Attor-
/ noy General are authorized to pre-
| scribe the form OF the bonds to he is
sued under this Act. and the coupons
! attached thereto. subject to the pruvis-
| Ions contained In this Act.
Section II. This Act shall not be re-
visod. amended or repcnled until the
| total amount Of tho Indebtedness here
in provided for is wholly paid and dis
| charged.
| Approved April 9th. 1907
| In testimony whereof. ! have hcTeun-
| To set my hand and affixed the great
( seal Of the State Of Colorado at the
! city Of Denver, this 2gth day OF Sept.
| a. u. 1908.
TIMOTHY o'CoNNoR.
| tSeal1 Secretary Of State.