The state herald., 1908-10-09

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, 1t shall he
the. duty of the State board of equali-
zation to levy and assess u special tax
on all taxable property in this state.
sufficient In amount to meet the semi
annual interest accruing on said
bonds, which tax when collected "hln
be paid into the state Treasury to thc
credit of the interest fund of sail
bonds. known as Funding Bonds. Ser-
les of 1903. and for the ultimate re-
demption of said bonds. there shall &c
levied annually for Ave years. after
ance. such u tax upon all of the taxa
BILE property of the State as shall crs-
ate an annual fund equal to twenty
COD per centum of the whole amount
OF the bonds issued which fund shall
be called Funding, Bond, Series 1i
1909. Sinking Fund All taxes for
of such bonds. shall be levied and coll
lccted as other State taxes. and shall
be paid into the State Treasury In cash
only; the proceeds thereof shall be
kept by the State Treasurer as II 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,
and for no other purpose whatever;
Provided. that whenever any surplus
remains to the credit of the interest
fund after the full payment of the In
terest maturing in any year, the State
Treasurer shall cause such surplus to
be transferred to the credit of tie
Funding Bond. Series of 1909. Sinking
Fund" All moneys belonging to the
said sinlsing fund may be invested by
said State Treasurer in any of the
bonds issued under this Act; but not
otherwise.
Section $. The Treasurer shall in
clude in his biennia sNeport statement
of the interest collected in pursuance
of this Act, the amount paid. also the
amount, IL any. carried to the shaking
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-
titled. and to cause the record of such
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 $
Interest accrued and due ON bonds is
sued under this Act, the State Treas
urer is hereby authorized and directed
to apply any money at that time in his
hands belonging to the general rev.
enue fund. or the funds accruing from
interest on bank deposits; and so much
money as may be necessary therefor,
Is hereby appropriated out of such
funds for the payment of said inter
est.
| Section 10. The Governor and Attor-
ncy General are authorized to pre-
scribe the form of the bonds to be is
sued under this Act. and the coupons
| attached thereto. subject to tho provis-
| ions contained in this Act.
| Section IL. This Act shall not be re-
| vised amended or repealed until the
| total amount OF the indebtedness here
In provided for Is wholly paid and dis
| charged.
Approved April 9th. 1907.
| In testimony whereof. | have hereun-
| to set my hand and affixed the great
seal OF the State of Colorado. at the
| a. D. 1905.
TIMOTHY OCONNOR.
| (Seall Secretary OF State